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news-imageFebruary 24, 2025

Bybit Moves Fast: $742M ETH Purchase Follows $1.4B Hack—Damage Control?

In a surprising turn of events, cryptocurrency exchange Bybit purchased around 266,700 ETH worth $742 million in just 48 hours. Blockchain analytics company Lookonchain has kept an eye on this significant transaction following a disastrous $1.4 billion hack that sent shockwaves to the digital asset space.
Publisher: Bitcoinist
Sentiment: Neutral
ETH

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Neutral
cover-imageBenzinga
February 24, 2025

Ethereum Down 19% In A Month: Could Japan's Rate Hike Spark a Rally?

Ethereum (CRYPTO: ETH) has seen a 19% decline over the past month, but traders are positioning for a potential rally. Cryptocurrency Price Market Cap 24-Hour Trend 7-Day Trend Ethereum (CRYPTO: ETH) $2,683.09 $323.5 billion -4.4% -3.1% Bitcoin (CRYPTO: BTC) $95,838.47 $1.9 trillion -0.1% -0.5% XRP (CRYPTO: XRP) $2.47 $143.8 billion -3% -7.5% Trader Notes: Historically, ETH experiences a sharp wick within two weeks of a Bank of Japan (BoJ) rate hike, according to analyst Benjamin Cowen in a podcast published on Monday.

Negative
cover-imageZycrypto
February 24, 2025

Ethereum Rollback Suggested After $1.5 Billion Bybit Hack

BitMEX co-founder Arthur Hayes has suggested that Ethereum roll back, essentially cancelling out stolen funds, in the aftermath of the Bybit hack. He reasons that Ethereum did a similar action back in 2016 when a hard fork was created to counteract a major security breach.

Neutral
cover-imageAltcoin Buzz
February 24, 2025

Bybit Covers ETH Loss After $1.4B Hack

Bybit CEO Ben Zhou shared a piece of exciting news with the community on Monday, February 24. The platform's founder said the exchange had fully covered its ETH reserves stolen during Friday's hack on the platform.

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