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TRON drops 6% after $628M Binance hack funds flow triggers sell-off fears

Market News
31 Oct 2026, 15:24 WIB
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Bearish
TRON drops 6% after $628M Binance hack funds flow triggers sell-off fears

TRON's native token TRX fell about 6% to near $0.32 following a major Binance hack where $628 million moved through the TRON network, mostly in stablecoins. The hack caused unusual on-chain activity and a reversal of TRX's recent rally, raising concerns that stolen TRX could be sold, adding selling pressure. Despite this, TRON remains a key stablecoin settlement network with over $90 billion in USDT supply, highlighting its importance beyond short-term price swings. Traders are watching the $0.32 support level closely, with potential for further volatility amid broader crypto market weakness.

TRX is trading at Rp5.801 on Pluang with a 3.45% decline as of Oct 31, 2026 19:41 WIB, reflecting continued selling pressure after the Binance hack news. Meanwhile, Binance Coin (BNB) shows resilience, up 0.74% to Rp12.781.978 with more buying interest at 63% buy orders. The typical hold time for TRX on Pluang is 76 days, indicating moderate-term investor engagement despite recent volatility.

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