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, has resulted in losses amounting to approximately $1.4 billion. Despite this incident, the crypto market demonstrates resilience as leading exchanges provide support. In such circumstances, assistance is being offered by major exchanges including Binance, Bitget, and MEXC, with the aim of stabilizing the situation.
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 regarding the continuity of advancements. CryptoRank.io, a platform for crypto market analytics, has disclosed this 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%. The dominance of Bitcoin has slightly increased to 57.41%, indicating investors’ tendency to seek refuge in the leading cryptocurrency.
Conversely, the Fear & Greed Index stands at 49, underscoring the neutral and cautious sentiment prevailing in the market. This is a result of the OpenSea investigation, which has been officially dropped by the U.S. SEC, providing reassurance to the NFT market. Furthermore, Ye is making strides to launch the native token $YZY in the upcoming week. This progressive step has heightened excitement within the altcoin landscape.
Surge of Small Caps Despite Market Pullback
While major cryptocurrencies have faced losses, small-cap cryptocurrencies have experienced significant gains. StormX ($STMX) has surged by 60%, Broccoli has increased by 43.4%, and Nodepay ($NC) has seen a rise of 39.1%. Other notable tokens include Rus, which has surged by 31.9%, and ThunderCore Official ($TT), which has witnessed a 25.8% increase.
According to the latest data revealed by CryptoRank, the crypto market is exhibiting turbulence. Nevertheless, growth opportunities remain prominent, particularly in the altcoin sector. Traders and analysts, armed with the latest information regarding the Bybit hack, are closely monitoring the market’s responses. This development further reaffirms that the crypto space remains as dynamic as ever.