- Active addresses and transaction volumes show normal trends after the hack.
- UniBot has returned to a bull trend above $60.
Just recently, UniBot was compromised by hackers, resulting in a significant loss of approximately $600,000.
Significant drops in key metrics indicated a sense of panic among buyers, leading to a sharp drop in the token’s price. Now, a few days later, have the token and the network managed to recover?
The key UniBot metrics show FUD induced trades
In a recent one Santiment post, they highlighted how certain statistics during the UniBot hacking incident clearly reflected the prevailing panic. An examination of the active address and transaction volume statistics showed that these had reached record highs.
On October 31 and November 1, the number of active addresses exceeded 2,000, a stark contrast to numbers under 500 before the incident.
Source: Santiment
In addition, transaction volume was at its highest point in months. The graph showed a transaction volume of more than 324,000 on October 31.
Source: Santiment
Collectively, these statistics indicated an increase in trading activity driven by fear, uncertainty and doubt (FUD) in response to the hack.
However, according to the latest available data, the charts have returned to more typical levels. The number of 24-hour active addresses is currently around 663, while the transaction volume was around 2,590.
The UniBot team provides certainty about the recovery of the money
A few days after the hacking incident, the UniBot team published a rack confirming that they had successfully repaid the lost money.
Additionally, they reported significant recoveries of stolen assets. Additionally, they announced a zero trading fee policy from the day of their announcement. Notably, token holders would now receive 100% of the token taxes.
In light of these developments and the UniBot team’s proactive response, it is important to examine how the asset has performed in response to these actions.
One step back above the neutral line
At the time of this update, UniBot is trading around $61, which reflects a decline in value of approximately 6%. However, prior to this recent downturn observed on the daily time chart, the price was trending positively.
Source: TradingView
Read UniBot (BOT) price forecast 2023-24
A detailed analysis of the chart showed that UniBot’s price rose from around $48 to over $62 between November 5 and November 7.
During these three days, daily gains were significant, with increases of 24.96%, 14.71% and 19.08%. Notably, these upward moves pushed UniBot back into a bullish trend, as evidenced by the Relative Strength Index (RSI).
