DRIFT fluctuated 52.4% in 24 hours: Tether's support of a $127.5 million recovery plan triggered a pump followed by a pullback

Brief Overview of Volatility

In the past 24 hours, DRIFT's price surged from a low of $0.0412 to a high of $0.0628, currently trading at $0.0488, with a price fluctuation amplitude of 52.4%. The 24-hour trading volume is approximately $36.25 million; CEX saw a net outflow of about $175,000, DEX had a net outflow of around $10,000, leading to a total capital net outflow of $236,000.

Analysis of Reasons for Abnormal Price Movements

- Tether led the recovery fund of $127.5 million to $150 million to compensate users and restart the platform, replacing USDC with USDT. This announcement directly fueled an intraday pump of over 20%-30% in price.

- The subsequent pullback may be due to profit-taking, combined with the recent $280 million hack incident background.

Market Views and Outlook

Market sentiment has turned optimistic, with the X community actively discussing the Tether partnership pushing $DRIFT to intraday highs. However, mainstream opinion remains cautious: the price is still more than 70% below pre-hack levels, so the short-term rebound may be limited, and attention should be paid to execution of recovery and the risks associated with USDC replacement.