THORChain hit by Binance and Bitget hack flows: RUNE upward price move persists

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THORChain jumps 9.06% today on demand

Highlights

THORChain transaction volumes surged after $6.3 billion in illicit funds linked to the Binance hack were routed through its cross-chain protocol.
Funds from both the Binance and Bitget hacks consolidated at a single Ethereum address via THORChain, cementing its role in large-scale crypto transfers.
RUNE price surged 9.06% to $0.71 with strong bullish momentum, projecting a range of $0.678 to $0.742 in coming sessions as volatility persists.

Speculative demand surges as hacks channel flows through THORChain

THORChain has drawn significant market attention after Binance confirmed a $6.3 billion hack, with illicit funds subsequently moving through the protocol’s cross-chain infrastructure. This influx of high-value transfers directly increases transaction volumes and highlights THORChain’s utility for large, complex crypto flows, spurring heightened speculative demand. Further investigation, as reported by Cointelegraph and on-chain researcher ZachXBT, shows that proceeds from both the Binance incident and the September Bitget hack were routed through THORChain and consolidated at a single Ethereum address, reinforcing the protocol's high-profile role within the broader crypto ecosystem.

Bullish signals hold as overbought conditions raise correction risk

RUNE/USD is currently trading above MA-20 ($0.6587) and MA-50 ($0.648) on the hourly chart, while maintaining a sizable premium over the MA-200 ($0.4959) on the daily timeframe. The Ichimoku Kijun sits at $0.6565, providing the nearest structural support. Momentum indicators remain strong, with RSI at 65.1, MACD and ADX both signaling buy, and the Awesome Oscillator confirming persistent upward pressure. However, both Stochastic RSI and CCI have entered overbought territory, warning of potential short-term corrections even as intraday Bull/Bear Power favors continued buying activity.

Consolidation risks persist as volatility tests range boundaries

Over the next two to three trading days, the anticipated price range for RUNE/USD is $0.678 to $0.742, reflecting ongoing volatility. The most likely scenario is that price consolidates within this band as intraday swings persist. Should bulls overcome resistance near the upper boundary, further gains are possible. Conversely, a breakdown below support levels could prompt profit-taking and a deeper pullback.

Viktoras Karapetjanc, expert at Traders Union, sees renewed bullish sentiment in THORChain (RUNE) following the protocol's central role in large cross-chain transfers tied to recent high-profile hacks. He believes the heightened visibility and strong transaction flow have reinforced demand for RUNE, supporting the current technical momentum. The analyst expects price action to remain volatile but constructive, with consolidation likely above short-term supports. "RUNE is benefiting from both increased attention and robust structural support—momentum should favor buyers as long as market interest stays elevated."

Previously it was reported that THORChain's growing role as a conduit for large digital asset transfers—highlighted by the movement of hacked funds through its protocol—had attracted heightened market scrutiny and positioned the asset for potential momentum-driven price action. The current analysis strengthens this outlook, as surging transaction volumes and sustained technical strength suggest that traders should monitor for a decisive move outside the $0.678 to $0.742 range in the coming sessions.

Source of Data: RUNE Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.