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The Hyperbridge exploit led Polkadot (DOT) to lose a significant portion of its market value, but the token has since fully recovered. DOT’s price initially crashed after a hacker minted 1 billion DOT tokens on Ethereum (ETH) and sold them for $237,000, citing limited liquidity. The team later clarified that the effective loss had grown to $2.5 million as efforts to recover the funds continued.
Despite the incident, assurances that Polkadot’s core network security remained unaffected helped drive a 17% price recovery.
In a post-exploit statement, the team said the core network was not affected. The issue was limited to bridged DOT tokens on Ethereum. With that clarification, community sentiment rebounded to 82% bullish from 954.1K voters, according to CoinMarketCap.
Following the update, DOT’s price rose from $1.146 to $1.354.
The recovery also coincided with a rebound in network activity. Artemis data showed transactions increased by 1,400 in a day, rising from 10.5K to 11.9K.
Total Value Locked (TVL) increased by about 11.29% over the same period. The stablecoin market cap also rose to $77.83 million after the earlier drop.
DOT continued to attract substantial trading interest, with daily trading volume around $403 million. However, network revenue remained low as the system worked to regain momentum.
On the charts, DOT’s price action had invalidated the breakdown below the prior sideways consolidation. Before the exploit, DOT had been trading between $1.20 and $1.35 since late March.
Although the token fully recovered and moved toward the top of the range, it failed to sustain a move above the $1.35 resistance zone. After briefly breaking higher, buying cooled as the price could not hold above the sideways channel.
If DOT clears the $1.35 level, it could move toward $1.50. If it fails, the token may return to $1.20 or lower.
The Cumulative Volume Delta (CVD) supported this view, declining from a daily peak of 1.60 million DOT tokens to 60K at the time of writing.
The security compromise involving bridged DOT on the ETH network reduced DOT’s correlation with Ethereum. The correlation coefficient (CC) fell from a peak of 0.86 to negative 0.55.
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