Summary
- Total crypto market capitalization fell 4.76% to $2.64 trillion in 24 hours.
- Bitcoin dropped 2.36% to $78,330 while Bitcoin dominance held at 59.3%.
- Hyperliquid's HYPE token surged 17.36% to $92.95, the day's top gainer.
The global crypto market capitalization fell 4.76% over the past 24 hours to $2.64 trillion, with trading volume reaching $138.7 billion, as a multibillion-dollar hack at Binance rattled sentiment across digital assets. Bitcoin declined 2.36% to $78,330, extending losses tied to the breach, which Binance has said may have originated from a compromised employee laptop used to access internal infrastructure. The exchange has said it expects to restart withdrawals within 48 hours and that roughly $3 billion of the stolen funds have already been frozen.
BNB, Binance's native token, fell 5.05% to $718.99, making it one of the session's steepest decliners among major coins despite not topping the official losers list, which was led by smaller-cap tokens. Ethena's ENA token dropped 5.41% to $0.1889, while NEAR Protocol slid 5.38% to $4.24. The BlackRock USD Institutional Digital Liquidity Fund token, a stablecoin-like asset, was unchanged at $1, underscoring how volatility was concentrated in risk assets rather than tokenized cash instruments.
Hyperliquid's HYPE stood out as the standout gainer, jumping 17.36% to $92.95 and climbing into the trending searches list alongside Bitcoin and Uniswap. The rally coincided with growing talk that the Binance breach could push traders toward decentralized exchanges, a shift that analysts have linked to a bullish case for decentralized-finance tokens. Uniswap's UNI token, also trending, fell 3.50% to $6.81 even as its long-term prospects were cited in connection with the potential exchange migration.
Smaller tokens showed more extreme swings. Super Pepe, ranked 895th by market capitalization, more than doubled in value, gaining 110.33% to $0.0182, while Pons dropped 14.29% to $0.236 and Bitway fell 17.58% to $1.47, the steepest decline among tracked tokens. Among more established names, Zcash rose 2.12% to $1,274.80 and Monero gained 2.26% to $601.39, with both privacy-focused coins moving against the broader downtrend.
Ethereum's market dominance held at 10.33% as the second-largest cryptocurrency also came under pressure. Other platforms faced disruption beyond Binance: a prediction-markets platform suspended trading after reporting that a third-party provider had been compromised, adding to concerns about infrastructure security across the industry. TRON bucked the overall decline, rising 3.21% to $0.3418, and OKB added 1.79% to reach $112.89. With 22,609 active cryptocurrencies tracked, the breadth of the selloff reflected a market-wide reaction rather than an isolated event confined to Binance-linked tokens.