RARE Crypto Leads Gains as NFT Marketplace SuperRare Bounces Strongly After Hack

Just when the crypto market stabilized after last week’s dizzying fall, RARE, the governance token behind SuperRare, an NFT marketplace, was firm, posting double-digit gains.

Data from Coingecko shows that RARE crypto shot 35% yesterday, reversing last week’s losses and adding nearly 20% in the past week.

(Source)

RARE Crypto Jumps By 35%

At spot rates, RARE2 (No data) is up a decent 35% in the past month and mostly stable, losing just 4% in the last year. RARE is now among the best cryptos to buy, especially if bulls push on.

As expected, the leg up was an uptick in trading volume, which rose nearly 20X from August 3. This points to high trading activity across major exchanges. Market data shows that most trading occurred on Pionex, Binance, and MEXC.

From the daily chart, the explosion of August 4 pushed RARE towards July highs. Most importantly, because of yesterday’s gains, the token reversed losses of July 28 when the protocol was hacked. From July 28 till the end of last week, RARE slid by nearly 25% before steadying and pushing higher on August 4.

Technically, buyers of late Q2 2025 are back in control, and a close above July 2025 highs of around $0.07 will be critical for RARE. If buyers succeed, RARE could easily double to March 2025 highs of $0.015 before retesting 2024 highs of $0.21.

On X, sentiment around the governance token, RARE, is overwhelmingly positive. One user posted that RARE could soar to $2.1, and the token is on the cusp of a 30X surge; easily outperforming some of the top Solana meme coins. Bullish as this may be, it may take months before RARE retests this level.

https://twitter.com/JavonTM1/status/1952465728956944413?ref_src=twsrc%5Etfw” rel=”nofollow” target=”_blank

The spark could be a stellar recovery in NFTs, a scene where SuperRare plays a key role in providing a liquid market. Cryptoslam data shows that trading volume has been flat for the past two years, with a spike in sales volume in early 2025.

(Source: CryptoSlam)

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Post-Hack Recovery For RARE Crypto: SuperRare Staking Campaign Bulls Price

On July 28, its RareStakingV1 contract was hacked in an exploit that saw users lose $731,000 worth of RARE tokens.

According to Cyvers, the SuperRare hack was due to a critical flaw in its authorization logic, allowing unauthorized addresses to modify the Merkle root. In this way, it was possible to alter the data structure that automatically determines user staking balances.

https://twitter.com/CyversAlerts/status/1949766758635610276?ref_src=twsrc%5Etfw” rel=”nofollow” target=”_blank

After this hack, up to 61 wallets were impacted. Stolen funds were funneled through Tornado Cah, obscuring their trail.

Despite the hack and the possible reputational damage, SuperRare responded swiftly and, most importantly, decisively. The staking contract vulnerability was patched, and impacted users were made whole without requiring action.

Moreover, SuperRare, which said the flaw slipped through audits, overhauled its security protocols. Under their new measures, all post-audit changes will trigger a re-audit. Also, they are expanding test coverage and formal verification to prevent future vulnerabilities.

https://twitter.com/rare_protocol/status/1950215715237015746?ref_src=twsrc%5Etfw” rel=”nofollow” target=”_blank

Because of their transparency and proactive measures, the team successfully turned a setback into a springboard, looking at the sharp bounce on August 4.

There is also an ongoing staking campaign offering a high APR.

https://twitter.com/rare_protocol/status/1952403687046852707?ref_src=twsrc%5Etfw” rel=”nofollow” target=”_blank

This staking campaign aims to reward long-term supporters and allow RARE stakers to earn rewards.

(Source: RARE Rewards)

Over 22.2 million RARE tokens have been locked up, earning a 65% APR.

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