CORE shares the spotlight in crypto markets after a reported $1.7 million exploit hit liquidity tied to Allbridge’s cross-chain “Allbridge Core” protocol, pressuring the price of CORE to around $0.024. The token fell within a 24-hour range of $0.02387 to $0.02449, with broader losses extending as negative headlines spread and traders reassessed risk.
While the attack did not directly target the Core blockchain or CORE’s native token, confusion stemming from branding similarity and a visibly weakened trading setup appear to have amplified selling pressure. Allbridge paused the Allbridge Core protocol and asked liquidity providers to withdraw funds from affected pools while it investigates.
Key takeaways
- Price move: CORE traded around $0.024, slipping roughly 1.4% over the past day, according to CoinGecko data.
- Catalyst: Allbridge reported an exploit affecting Allbridge Core liquidity, involving a flash loan used to manipulate an Allbridge Core USDC/USDT pool.
- Investor implication: Even without a direct breach of CORE, liquidity disruptions and headline-driven caution can weigh on sentiment and technical positioning.
- Key level to watch: The $0.024 region has acted as a notable support area, while failure to hold could open the door to lower trading ranges.
What drove the move
The downward pressure on CORE followed an exploit aimed at Allbridge Core’s cross-chain bridge liquidity rather than the Core blockchain itself. According to on-chain analytics platform Onchain Lens, the attacker used a $1.12 million USDC flash loan from Kamino to manipulate the Allbridge Core USDC/USDT liquidity pool, draining about $1.7 million. The funds were reportedly moved from Solana to Ethereum using privacy protocols.
Allbridge said the exploit temporarily created an arbitrage opportunity and asked anyone who profited from it to voluntarily return funds to compensate affected liquidity providers. It also paused the Allbridge Core protocol and directed liquidity providers to withdraw assets from impacted pools while the investigation continues.
Separately, traders pointed to branding overlap. The report said the incident did not involve the Core blockchain or CORE token directly, but the similarity in naming and branding appears to have caused confusion among some market participants—an effect that can translate into faster, less discriminating selling when headlines spread.
Market reaction and what charts indicate
Data from CoinGecko showed CORE extending losses beyond the immediate day’s move, with declines reported at roughly 0.9% over the week, 5.6% over two weeks, and 9.7% over the last month. The immediate price action occurred as selling pressure rose alongside an already weak technical structure, suggesting that the exploit narrative arrived at a time when buyers had limited momentum.
The daily chart remains bearish. CORE is trading below its 20-day, 50-day, 100-day, and 200-day exponential moving averages, a configuration that typically signals sellers control the broader trend. The report indicated the 20-day EMA is near $0.0249, with the 50-day EMA around $0.0274—levels described as likely resistance above current pricing.
Support is also concentrated near the same area as the recent trade range. The Volume Profile Visible Range (VPVR) highlighted heavy historical activity around $0.024, which the report framed as an important support zone where buyers have previously accumulated positions. If that area fails, the chart suggests thinner traded volume below could make it easier for prices to drift toward the $0.022–$0.023 region before stronger demand reappears.
On shorter timeframes, the report said momentum looks less aggressive than during earlier selling. The Relative Strength Index (RSI) was around 36—approaching oversold territory but still above the 30 level that often marks stronger “seller exhaustion” signals. At the same time, Average True Range (ATR) has been declining, implying daily volatility has narrowed since the earlier selloff. Taken together, the analysis suggests volatility may be cooling, but bearish control has not fully reversed.
What to watch next
Near-term price direction for CORE may hinge on how the Allbridge investigation progresses and whether liquidity providers can return funds without further disruptions. Traders will also likely focus on technical milestones: reclaiming the 20-day EMA near $0.0249 and then clearing the 50-day EMA around $0.0274 would be key for bulls to regain control, based on the chart framework cited in the report.
Until then, the combination of exploit-related uncertainty and a bearish multi-day moving-average structure keeps downside risk elevated if negative sentiment persists. Updates on Allbridge’s findings, the status of affected pools, and any follow-through from voluntary fund returns could be central to whether market confidence stabilizes.
