Summary
- THORChain's RUNE token fell 19.1% to $0.50 in the past 24 hours.
- Total crypto market capitalization stands at $2.62 trillion, down 2.8% on the day.
- Bitcoin held near $78,506, up 1.1%, while Ethereum rose 1.2% to $2,293.
THORChain, a decentralized cross-chain trading protocol, halted swaps involving assets on Bitcoin, Ethereum, Solana and Tron networks after node operators identified a block reorganization bug, according to data tied to the ongoing Binance security incident. The protocol's native token, RUNE, dropped 19.1% in 24 hours to $0.50, the steepest decline among trending tokens tracked Sunday. The halt comes as the FBI has attributed a record $6.3 billion theft from Binance to North Korean hackers, prompting the exchange to pursue phased withdrawals and replenish roughly 90% of stolen assets through market and over-the-counter purchases. Binance reported net outflows surging to $5.8 billion as customers moved funds following the resumption of withdrawal services, though the exchange noted this represents a small fraction of its approximately $171 billion in customer assets.
The wider market retreated 2.8% to a total capitalization of $2.62 trillion, with trading volume over the past day reaching $114.1 billion. Bitcoin's dominance held at 60%, with its price near $78,506, up 1.07%. Ethereum traded at $2,293, gaining 1.17% on CoinGecko's trending data, though a separate market snapshot showed the token higher still at $2,306.68, up 1.67%, placing it among the day's top gainers alongside OKB, up 3.04% to $114.06, and Uniswap, up 2.09% to $7.29.
Other tokens tied to the Binance disruption also posted declines. Plasma fell 13.8% to $0.071, and Akedo dropped 14.5% to $0.0077, both appearing on trending lists alongside THORChain amid the exchange turmoil. Zcash, meanwhile, bucked broader weakness, rising 0.93% to $1,256 in one dataset and 1.67% to $1,265.38 in another, continuing a recent run of strength that has pushed it into the top ten cryptocurrencies by market capitalization.
On the losing side beyond THORChain, Rain fell 5.74% to $0.00585, MemeCore dropped 3.59% to $0.863, and NEAR Protocol slid 2.70% to $4.32. Stablecoin-adjacent instruments BlackRock's USD Institutional Digital Liquidity Fund and Circle USYC showed no price movement, trading flat at $1.00 and $1.14 respectively, as expected for dollar-pegged instruments. The THORChain co-founder has publicly resisted calls to freeze the protocol in compliance with law enforcement demands tied to the hack investigation, a stance that adds uncertainty to when normal swap operations might resume across the affected networks.