In the crypto market, Bitcoin ($BTC) and Ethereum ($ETH) have experienced a slight dip following the Bybit hack. The breach, attributed to the Lazarus Group from North Korea, resulted in approximately $1.4 billion being drained. In response to this incident, the crypto market has demonstrated resilience, with leading exchanges providing support. In such situations, assistance is offered by prominent exchanges such as Binance, Bitget, and MEXC, aiming to stabilize the market conditions.
Market Overview: $BTC and $ETH dipped slightly due to the Bybit hack, highlighting market resilience.
New details continue to emerge, yet @Bybit_Official leadership is maintaining open communication, while @binance, @bitgetglobal, and @MEXC_Official have stepped in with… pic.twitter.com/5NWfNl1s6N — CryptoRank.io (@CryptoRank_io) February 22, 2025
Bybit, as a leader, remains communicative and transparent about the continuity of advancements. CryptoRank.io, a platform for crypto market analytics, has revealed the report through its official X account.
Market Trends Monitored by CryptoRank.io Amid Uncertainty:
The crypto market possesses a valuation of $3.32 trillion, reflecting a decline of 2.15%. Bitcoin’s dominance has slightly increased to 57.41%, indicating a tendency among investors to seek refuge in the leading cryptocurrency.
On the other hand, the Fear & Greed Index stands at 49, underscoring the neutral and cautious nature of market sentiments. This is influenced by the recent OpenSea investigation, which has been officially dropped by the U.S. SEC, providing reassurance to the NFT market. Furthermore, Ye is striving to launch the native token $YZY in the upcoming week, an initiative that has further heightened excitement in the altcoin landscape.
Surge of Small Caps Despite Market Pullback:
While major cryptocurrencies have faced losses, small-cap cryptocurrencies have seen significant gains. StormX ($STMX) has surged by 60%, Broccoli has increased by 43.4%, and Nodepay ($NC) has experienced a 39.1% rise. Other notable tokens include Rus with a 31.9% increase and ThunderCore Official ($TT) which has risen by 25.8%.
According to the latest data revealed by CryptoRank, the crypto market is currently experiencing turbulence. Despite this, growth opportunities remain prominent, particularly in the altcoin sector. Traders and analysts, armed with the latest information regarding the Bybit hack, are closely monitoring market responses. This development once again confirms that the crypto space is as dynamic as ever.