Why bitcoin held up better after the record Binance hack

Binance has suffered the biggest hack in crypto history , but that's done little to shake confidence in bitcoin , according to market analysts and researchers. On Thursday, the world's largest exchange by daily trading volume said that roughly $6.3 billion were affected in an exploit. Security firm TRM Labs linked the security incident to North Korea. The hack sparked a slight sell-off in bitcoin . On Friday, the cryptocurrency traded at $77,065 around 1:34 p.m. ET, down about 4% on the day. By comparison, the token has fallen 8.3% on average in the first 24 hours following past crypto exchange exploits, according to data from institutional crypto platform Anchorage Digital.