THORChain sees Binance hack funds routed via protocol: RUNE faces weak momentum

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Thorchain drops 7.02% to $0.596 today

Highlights

$48.3 million in stolen funds from a Binance hack moved through THORChain, with $42.7 million received after protocol fees.
Binance froze $2.85 billion of stolen funds and replaced 98% of affected tokens using company capital.
RUNE/USD trades below key short- and medium-term averages, with price expected to consolidate in the $0.5426 to $0.6494 range over the next three days.

Protocol flows spotlighted as stolen funds move through THORChain

Approximately $48.3 million in stolen funds from a Binance hack were routed through the THORChain protocol, with about $42.7 million ultimately received after a reported 12% slippage and protocol fees, according to Tokenpost. This episode demonstrated how THORChain's liquidity can be leveraged in the aftermath of major security incidents, increasing market focus on protocol flows and the regulatory landscape surrounding such transactions. Concurrently, Binance stated that it had frozen $2.85 billion of the stolen funds and covered roughly 98% of affected tokens by deploying company capital, actions that may help temper broader market fallout though price action has remained under broader selling pressure.

Short-term bearish momentum persists amid mixed technical signals

On the H1 chart, RUNE/USD has fallen below the MA-20 and MA-50, signaling short- and medium-term selling pressure, while the price remains above the MA-200, which anchors a longer-term bullish position. The Ichimoku Kijun currently stands at $0.6185 as immediate resistance. Momentum indicators show the MACD delivering a strong sell signal and the ADX confirming ongoing seller activity. At the same time, RSI, Stochastic RSI, and CCI sit in neutral zones, with Bull/Bear Power marginally positive, indicating slight buyer presence in an otherwise volatile market.

Consolidation expected as breakout hinges on Kijun resistance

Over the next two to three trading days, RUNE/USD is expected to consolidate within the $0.5426 to $0.6494 corridor, reflecting typical volatility relative to current levels. The probability of an upward move is estimated at 60%, with a 40% chance of downside. A bullish scenario would require a breakout above the Ichimoku Kijun resistance, while a drop below support would reinforce renewed selling pressure.

Viktoras Karapetjanc, analyst at Traders Union, sees the recent routing of stolen Binance funds through THORChain as a key event that intensifies regulatory attention yet underlines the protocol's significant liquidity. He believes Binance's decisive actions have helped contain broader confidence risks, despite current selling pressure and technical weakness for RUNE. Tactical sentiment remains moderately constructive as long as price stays above the MA-200 and the longer-term uptrend is not decisively broken. "If RUNE can clear the $0.6185 resistance on improving sentiment, I expect renewed upward momentum in the near term."

Previously it was reported that THORChain restored most core swap functionalities following a security-driven operational halt, with a cautiously bullish outlook supported by technical alignment. The current decline below key averages and evolving scrutiny over protocol flows highlight increased downside risk, making a decisive move above $0.6185 or a breakdown below $0.5426 critical for directional bias in the immediate term.

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.