Can TRON reclaim $0.33 after its $234M hack fueled buying spree?

On Thursday, the 29th of October, TRON [TRX] prices surged from $0.328 to $0.365 in a matter of hours. Attackers who had drained Binance hot wallets for $6.3 billion across ten blockchains rushed to swap their USDT for TRX. Since Tether can freeze its stablecoin, the urgency to swap to TRX, where no central issuer can block transfers, saw a $234 million USDT swap to TRX on SunSwap, at $0.367 per TRX, blockchain data firm Bitquery confirmed. At that time, the TRX market price had been only $0.33, which helped explain the swift price surge. Other intelligence platforms have since reported whale wallets with the stolen funds, turning the artificial buying spree into a supply overhang for the global stablecoin settlement giant.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to AMBCrypto.