#MarketSentimentToday
BtcTurk acknowledges cyber incident, AVAX loses over 5%
The price of Avalanche fell 5% on Saturday.
Santiment data shows AVAX's social dominance peaked around three months.
A $54.2 million AVAX transfer to Coinbase THORChain was linked to a BtcTurk cyber assault by an on-chain analyst.
Avalanche (AVAX) lost roughly 7% on Saturday, June 22. The smart contract platform partnered with Konami Digital Entertainment.
Resella, an NFT platform that streamlines digital asset development, issuance, and trading on Avalanche, is anticipated from the game developer.
Correction hits Avalanche's AVAX token
According to TradingView, AVAX is down roughly 7% on Binance at $25.88. The smart contract platform's token fell over the weekend, but its social influence reached a three-month high.
The significance of an asset among traders is measured by social dominance. Asset share in crypto debates on social media like X is measured. Santiment indicates AVAX social dominance at 1.211%, up from 0.7281% on March 22, over three months ago.
The Santiment chart below shows that the indicator anticipates local tops/bottoms but does not directly affect asset prices.
AVAX
Avalanche's drop may be triggered by a $52 million deposit, according to on-chain expert ZachXBT's X tweets. The researcher tracked the AVAX transfer to Coinbase to a cyber assault on BtcTurk, a Turkish crypto exchange.
ZachXBT tracked the address and thinks it took over $46 million in Bitcoin from Binance and Coinbase.
BtcTurk acknowledges cyberattack, guarantees users are safe
Crypto exchange BtcTurk verified a hot wallet hack. The exchange says the incident only affected certain hot wallet assets and its cold wallets are protected. The exchange halted deposits and withdrawals for safety. Affected hot wallets of 10 coins do not impact users. The email exchange said,
"BtcTurk's financial strength far exceeds the amounts affected by this attack, and our users' assets will not be affected by these losses."
