The cryptocurrency market experienced a downturn following a major security breach at Bybit, where hackers managed to drain $1.4 billion in Ethereum. This has rattled investor confidence, leading to a wave of liquidations worth $566.64 million, per Coinglass data. As a result, the market cap of the business is down 1.86% to $3.17 Trillion. Trade volumes went up 53.06% to $139.49 B. Successively, the Fear & Greed Index has fallen to 38, indicating fear in the market.
Bitcoin price declined 1.85% over the last 24 hours, now trading at $96,407.61. The asset’s market cap has dropped to $1.91 trillion, while its dominance remains strong at 60.23%. Trading volume for BTC surged 60.24% to $49.29 billion as traders reacted to the Bybit exploit and broader market fears.
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Ethereum has fallen 2.49% to $2,681.04 following the exploit on Bybit, one of the leading ETH trading platforms. XRP has also taken a hit, falling 2.84% to $2.58, while Solana slid 1.50% to $171.56.
For a peek into Ethereum’s potential price targets, check out our Ethereum Price Prediction 2025, 2026-2030.
Among top-performing tokens, Ethena surged 10.46% to $0.4595, making it the highest gainer of the day. Bitget Token followed second with a 7.75% rise, reaching $5.01, while Maker posted a 4.98% increase to $1,497.40.
On the losing end, Berachain led the declines, tumbling 13.07% to $7.13. Mantle and Jito both recorded 12.30% losses.
The Fear & Greed Index stands at 38, indicating fear in the market.
Ethena, Bitget Token, and Maker were the top gainers, posting gains of 10.46%, 7.75%, and 4.98%, respectively.
Bitcoin dropped 1.85% in the past 24 hours, trading at $96,407.61, with a 60.24% rise in trading volume.
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