Turbos Finance confirmed on May 25, 2025, that its codebase remained unaffected by the $260M Cetus Protocol hack on Sui Network (Turbos Finance). The breach caused Cetus’ TVL to plummet, while Turbos’ transparent audits and operational stability positioned it as a secure alternative. This triggered a flight of liquidity from compromised platforms to Turbos, reflected in its 183.6% 24-hour volume surge to $2.37M.
Price crossed above 10-day SMA ($0.00188) and EMA ($0.00191), signaling short-term bullish momentum.
RSI14 at 63.94 (neutral but approaching overbought) suggests room for continued upside if buying pressure holds.
Fibonacci retracement shows resistance at $0.00210 (23.6% level), which TURBOS breached decisively.
3. Market dynamics: Sector-specific risk rotation
While the broader crypto market dipped 1.02% (CMC data), Sui Network’s SUI token saw heightened volatility (-4.03% in 24h). Turbos’ independence from the exploited codebase made it a relative safe haven, amplified by its role as Sui’s leading DEX. The CMC Fear & Greed Index at 68 (“Greed”) supported risk-on flows into resilient altcoins.
Conclusion
Turbos’ price surge combines sector-specific safety demand, technical breakout validation, and Sui ecosystem dynamics. While security reassurances provided a fundamental floor, traders should monitor whether TURBOS sustains above $0.00210 Fibonacci resistance. Could Turbos capture long-term market share from compromised Sui DEXs, or will broader DeFi risk aversion limit upside?
Why is TURBOS’s price down today? (27/05/2025)
TLDR
Turbos Finance (TURBOS) fell 4.23% in 24 hours due to spillover fears from a major Sui Network exploit and weak technical momentum.
Security spillover – Cetus Protocol’s $260M Sui Network hack (May 22) raised sector-wide risk aversion, pressuring TURBOS despite no direct exposure.
Technical breakdown – Price broke below key moving averages (10-day SMA: $0.00184) and faces resistance at Fibonacci retracement levels.
Altcoin headwinds – Bitcoin dominance (63.13%) and low Altcoin Season Index (27) signal capital rotation away from smaller tokens.
Deep Dive
1. Primary catalyst: Cetus exploit fallout
The May 22 Cetus Protocol hack ($260M) on Sui Network triggered sector-wide risk reassessment. While Turbos confirmed security (May 25) and maintained operations, the incident: - Eroded confidence in Sui-based DeFi projects broadly, despite Turbos’ independent codebase (Turbos Finance). - Coincided with TURBOS’ 24h volume dropping 5.86% to $1.1M, suggesting reduced liquidity amplified downside.
2. Technical context
Bearish momentum: MACD histogram (-0.0000437) and RSI14 (46.03) signal weakening buying pressure.
Key levels breached: Price ($0.00173) sits below 10-day SMA ($0.00184) and near the 78.6% Fibonacci retracement ($0.00172), a critical support zone. A sustained break below could target the May swing low ($0.00157).
Volume divergence: The 24h decline occurred on below-average volume, indicating limited conviction but persistent selling.
3. Market dynamics
Altcoin weakness: Bitcoin dominance rose to 63.13% (from 62.92% last week), stifling capital flows to smaller tokens like TURBOS.
Sui Network strain: SUI token fell 4.03% in 24h, reflecting broader ecosystem stress that likely weighed on TURBOS sentiment (Coincu).
Conclusion
TURBOS’ drop reflects a mix of Sui Network anxieties, technical breakdowns, and altcoin-sector headwinds—despite its operational resilience. Watch the $0.00172 Fibonacci level for signs of stabilization or further downside. Could Turbos’ security assurances help it rebound if Sui Network sentiment improves?