🚨 The Binance hacker’s wallet is still sitting on 3.38 billion $RSR (estimated at about $5 million based on on-chain monitoring), and RSR flash-crashed 17% in two hours!
The hacker has already dumped 7 coins, including UNI, ENA, and PEPE, for about 70,000 ETH. The unsold altcoins still in their hands are a sword hanging over the market, with RSR bearing the brunt.
▪️ 0.00125 USDT (24h -21%); 24h high: 0.001624; low: 0.001211, breaking below the 60-day low of 0.001293
▪️ Two 1-hour candles from 8 to 9 a.m. sent the price plunging from 0.00146 to 0.001211
▪️ The 9 a.m. 1-hour trading volume was about 850,000 USDT, roughly 30 times the previous day's hourly average
▪️ 24h futures trading volume was about 29 million USDT, with volatility going through the roof
My take: As long as the hacker hasn’t cleared this stash, RSR will remain under selling pressure. 0.0012 is the key level for now; a break below could mean another leg down, while a high-volume recovery above 0.0013 might finally offer some breathing room.
For a coin with a “hacker’s sword hanging over it,” would you dare to buy the dip or short with the trend?
#BinanceHack #Altcoins
#RSR