Humanity [H] is slowly recovering from post-hack losses. After the hacking incident in late June, the altcoin crashed as many holders and investors pulled out capital. After falling to a low of $0.05, the altcoin started to trade sideways.
Since then, it has held within a parallel consolidation range until three days ago, when it broke out from the range. In doing so, Humanity’s upside pressure intensified, driving the upsurge. As a result, the altcoin reclaimed $0.1 and flipped it into support. In fact, H climbed to a monthly high of $0.169, up 38% as of writing, clearing all July losses.
Additionally, the altcoin’s market cap reclaimed the top 100 spot on CMC, reaching 92. Trading volume also surged 99% to $40 million, indicating strong market activity.
Why is Humanity crypto rallying?
Post‑hack pessimism has faded, and sentiment toward Humanity has now turned positive. This shift is especially notable among high-net-worth investors, whales, and institutions in equal measure. Reflecting this shift, whales have begun accumulating again, with one recently scooping up 25 million H worth $2.7 million.
Another whale accumulated 5 million H worth $0.59 million, highlighting a renewed whale sentiment after H recently underwent a 1:1 migration and airdrop.
Moreover, market activity has intensified, and this was evidenced by major exchanges token movement. For starters, Gate moved 12 million H into cold storage, pointing to growing market activity and withdrawal demand.
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Professor on-chain also reported that Kucoin was forced to tap into cold storage, injecting 3 million H worth $405K into hot wallets just to keep up with the trading activity.
Additionally, OkNox reported that on the 16th of August, 33 million H worth $5.5 million was moved from the Bybit hot wallet to a fresh wallet.
Can H sustain these gains?
Besides the whales’ comeback, speculators have also returned to the market. As a result, the demand for leveraged positions is also recovering.
According to CoinGlass data, Derivatives Volume rose 181% to $281 million, while the Open Interest (OI) climbed 38% to $108 million.
The rising OI alongside volume indicated strong market participation and steady capital flow. Thus, traders are active and aggressively opening new positions. On Binance and OKX these positions were mostly longs as the ratio remained above 1.
This market demand has significantly strengthened the altcoin’s upside momentum. Inasmuch as so, Humanity’s Relative Strength Index (RSI) surged to 86 as of writing, pushing it well over the overbought zone.
Holding within this zone, RSI reflected strong buying pressure. Often, at such a level, this indicator has pointed to the likelihood of a trend continuation.
If the demand holds, Humanity will flip $0.2 and target $0.28. However,If profit takers jump in to cash these gains, any selling pressure will see H drop below $0.1 again.
Final Summary
- Humanity surged 38%, to a monthly high of $0.169, clearing all July losses, as bulls target pre-hack levels.
- Humanity is experiencing favorable market sentiment, with whales, and speculators aggressively accumulating, suggesting the post-hack feud has faded.
