Ethereum has taken a significant hit, tumbling below $2,500 after an 8% drop, marking what could be its worst February on record.
The cryptocurrency, which typically sees gains during this period, has instead suffered a 23% decline this month, raising concerns among investors. Broader market instability, compounded by recent regulatory developments in the U.S., has put additional pressure on ETH.
Despite this downturn, large investors remain undeterred. Data from CryptoQuant reveals that major Ethereum holders, controlling between 10,000 and 100,000 ETH, have been steadily increasing their positions, signaling confidence in the asset’s long-term potential. At the same time, Ethereum’s dominance in the stablecoin sector remains strong, accounting for over half of the market’s total capitalization.
Meanwhile, fallout from the Bybit exchange hack continues to unfold. The platform has moved swiftly to manage its financial obligations, repaying a $100 million loan in ETH within three days.
However, hackers responsible for the attack have already moved a significant portion of stolen funds, with reports indicating that over 89,500 ETH—valued at $224 million—has been laundered. Efforts to liquidate the remaining balance through cross-chain swaps are underway.
Looking ahead, Ethereum’s trajectory remains uncertain. Optimism surrounds the recent approval of its spot ETF, which some analysts believe could trigger a major altcoin rally. Additionally, the upcoming Pectra upgrade on the Holesky testnet is expected to bring further advancements to the network, potentially shaping ETH’s future performance.
The Cboe BZX Exchange has submitted a filing with the U.S. Securities and Exchange Commission (SEC) seeking approval for a new exchange-traded fund (ETF) that would track Injective’s native token (INJ).
Bernstein has flagged growing risks in Ethereum’s corporate adoption trend, cautioning that the rise of “ETH treasuries” could reshape the network’s supply and risk dynamics.
Interactive Brokers, one of the world’s largest online brokerage platforms, is exploring the possibility of issuing its own stablecoin, signaling a potential expansion into blockchain-driven financial infrastructure as U.S. crypto regulation begins to ease.
Trading volumes for BNB Coin (BNB) have doubled in the past 24 hours to $3.8 billion as the price rises by 7%. This favors a bullish BNB Coin price prediction at a point when the token just made a new all-time high. BNB is the second crypto in the top 5 to make a new […]