The cryptocurrency market experienced a sharp decline last week following the cyberattack on Binance, which was linked to losses of approximately $6.34 billion.
The uncertainty created in the markets by the attack had increased selling pressure on major crypto assets. However, the gains seen in the last three trading days indicate that the market is beginning to stabilize.
Zcash ($ZEC) led the recovery among major cryptocurrencies. The price of $ZEC rose by approximately 3%, outperforming other significant crypto assets.
Ethereum (ETH) and BNB also gained approximately 2 percent in value during the same period.
Simultaneous rises in major cryptocurrencies indicate that the recovery is not limited to Bitcoin alone.
However, it remains uncertain whether the current market movement will transform into a sustained upward trend.
Whether Bitcoin can surpass the $79,000 level is being watched as a key indicator for short-term price movements.
Market participants are monitoring price movements to assess whether the selling pressure following the Binance attack has completely subsided.
*This is not investment advice.
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