MEER16
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3.4 Years
BTC LOVER
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Here's today's crypto market update as of Wednesday, February 26, 2025:
- Global crypto market cap: $3.059 trillion USD, up 2.7% ¹
- 24-hour trading volume: $198 billion USD ¹
- Bitcoin price: $88,698 USD, up 0.4% ¹
- Ethereum price: $2,484 USD, up 4.6% ¹
- Top gainers include Polkadot Ecosystem and XRP Ledger Ecosystem cryptocurrencies
#Market_Update
- Global crypto market cap: $3.059 trillion USD, up 2.7% ¹
- 24-hour trading volume: $198 billion USD ¹
- Bitcoin price: $88,698 USD, up 0.4% ¹
- Ethereum price: $2,484 USD, up 4.6% ¹
- Top gainers include Polkadot Ecosystem and XRP Ledger Ecosystem cryptocurrencies
#Market_Update
your wallet address not same
In one of my recent posts, I was indirectly blaming #PI core team for 6.8 billion token introduction. Because I found my wallet blank although 812 PI was migrated. But I found my unawareness in these regards. Through intensive checking I come to know the truth. Although this story proves my stupidity, for the resolving of others problem I am convinced to tell the truth.
I came to know that PI network truly migrate my 812 pi coin. You all know that it was almost 6 years journey. So we are not aware as we should. When I go for complete mainnet checklist first time, I confirmed a wallet address. Unfortunately the 24 words passphare I have lost. So during kyc process, may be I have created a new wallet. But I was not confired that new wallet in the mainnet checklist. So, previous one was remain there. As, at that time no mainnet migration was not occurred and I was thinking as I have created a new wallet so previous one erased automatically. I believe now that due to this migration was done to my first wallet.
Now, those who are facing same problem, please check that your wallet address is same. If not try to find the wallet address where your migration done. If you a unfortunate guy like me, please go the wallet confirmation checklist option and then click it and put 24 words pass phrases of your newly created one. Forget the migrated PI and looking for future.
Thanks PI core team, for providing PI as a real coin, not as a scam.
I came to know that PI network truly migrate my 812 pi coin. You all know that it was almost 6 years journey. So we are not aware as we should. When I go for complete mainnet checklist first time, I confirmed a wallet address. Unfortunately the 24 words passphare I have lost. So during kyc process, may be I have created a new wallet. But I was not confired that new wallet in the mainnet checklist. So, previous one was remain there. As, at that time no mainnet migration was not occurred and I was thinking as I have created a new wallet so previous one erased automatically. I believe now that due to this migration was done to my first wallet.
Now, those who are facing same problem, please check that your wallet address is same. If not try to find the wallet address where your migration done. If you a unfortunate guy like me, please go the wallet confirmation checklist option and then click it and put 24 words pass phrases of your newly created one. Forget the migrated PI and looking for future.
Thanks PI core team, for providing PI as a real coin, not as a scam.
chaik my update on 2.2.2025
BTC is going to 87k please alert. . . . . . . . . . . . . next update wait
#BTC☀️ $BTC
#BTC☀️ $BTC
Here are the top reasons why the crypto market is currently low:
**Top 10 Reasons:**
1. **Interest Rate Hikes**: US Fed increased interest rates, reducing attractiveness of risky assets like crypto.
2. **Regulatory Uncertainty**: Pending regulations in US and EU create fear among investors.
3. **Bitcoin Hash Rate Decline**: 13.4% decline in Bitcoin hash rate indicates reduced mining activity and profit.
4. **Whale Selling**: Large investors selling crypto holdings, flooding market with supply.
5. **Economic Recession Fears**: Global economic slowdown concerns reduce risk appetite.
6. **Lack of Institutional Investment**: Slowdown in institutional investments in crypto assets.
7. **Technical Analysis**: Crypto charts showing bearish patterns and indicators.
8. **Crypto Exchange Hacks**: Recent hacks on crypto exchanges erode trust and confidence.
9. **Altcoin Overvaluation**: Many altcoins still overvalued compared to BTC and ETH.
10. **Seasonal Trend**: Crypto market typically slow during Q1 due to post-holiday and tax season effects.
#marektdowntrend
**Top 10 Reasons:**
1. **Interest Rate Hikes**: US Fed increased interest rates, reducing attractiveness of risky assets like crypto.
2. **Regulatory Uncertainty**: Pending regulations in US and EU create fear among investors.
3. **Bitcoin Hash Rate Decline**: 13.4% decline in Bitcoin hash rate indicates reduced mining activity and profit.
4. **Whale Selling**: Large investors selling crypto holdings, flooding market with supply.
5. **Economic Recession Fears**: Global economic slowdown concerns reduce risk appetite.
6. **Lack of Institutional Investment**: Slowdown in institutional investments in crypto assets.
7. **Technical Analysis**: Crypto charts showing bearish patterns and indicators.
8. **Crypto Exchange Hacks**: Recent hacks on crypto exchanges erode trust and confidence.
9. **Altcoin Overvaluation**: Many altcoins still overvalued compared to BTC and ETH.
10. **Seasonal Trend**: Crypto market typically slow during Q1 due to post-holiday and tax season effects.
#marektdowntrend
**Crypto Market Update: A Comprehensive Review**
**Date:** Monday, February 24, 2025
**Market Overview:**
The global crypto market capitalization stands at $3.282 trillion USD, representing a 2.4% increase over the last 24 hours. The total trading volume in the last 24 hours is $88.518 billion USD.
**Top Cryptocurrencies:**
1. **Bitcoin (BTC)**: $95,689.00 USD, up 0.9% in 24 hours
2. **Ethereum (ETH)**: $2,760.04 USD, up 0.3% in 24 hours
3. **Tether (USDT)**: $1.00 USD, stable
4. **USD Coin (USDC)**: $1.00 USD, stable
5. **Binance Coin (BNB)**: $293.19 USD, up 1.2% in 24 hours
**Market Trends:**
1. **Bullish Sentiment**: 55% of investors expect prices to rise in the next week.
2. **Increasing Adoption**: Growing interest in crypto payments and DeFi applications.
3. **Regulatory Clarity**: Expected guidelines from US SEC and EU regulators to boost confidence.
**Sector Performance:**
1. **DeFi Tokens**: Up 3.5% average in 24 hours, led by Uniswap (UNI) and SushiSwap (SUSHI).
2. **Gaming Tokens**: Up 2.2% average in 24 hours, led by Axie Infinity (AXS) and The Sandbox (SAND).
3. **Metaverse Tokens**: Up 1.9% average in 24 hours, led by Decentraland (MANA) and Enjin Coin (ENJ).
**Notable News:**
1. **Bitcoin ETF Approval**: SEC deadline approaching for spot ETF applications.
2. **Ethereum Shanghai Upgrade**: Expected in March, enabling staked ETH withdrawals.
3. **Binance US Expansion**: Announced plans to expand services across all US states.
#maeketupdat
**Date:** Monday, February 24, 2025
**Market Overview:**
The global crypto market capitalization stands at $3.282 trillion USD, representing a 2.4% increase over the last 24 hours. The total trading volume in the last 24 hours is $88.518 billion USD.
**Top Cryptocurrencies:**
1. **Bitcoin (BTC)**: $95,689.00 USD, up 0.9% in 24 hours
2. **Ethereum (ETH)**: $2,760.04 USD, up 0.3% in 24 hours
3. **Tether (USDT)**: $1.00 USD, stable
4. **USD Coin (USDC)**: $1.00 USD, stable
5. **Binance Coin (BNB)**: $293.19 USD, up 1.2% in 24 hours
**Market Trends:**
1. **Bullish Sentiment**: 55% of investors expect prices to rise in the next week.
2. **Increasing Adoption**: Growing interest in crypto payments and DeFi applications.
3. **Regulatory Clarity**: Expected guidelines from US SEC and EU regulators to boost confidence.
**Sector Performance:**
1. **DeFi Tokens**: Up 3.5% average in 24 hours, led by Uniswap (UNI) and SushiSwap (SUSHI).
2. **Gaming Tokens**: Up 2.2% average in 24 hours, led by Axie Infinity (AXS) and The Sandbox (SAND).
3. **Metaverse Tokens**: Up 1.9% average in 24 hours, led by Decentraland (MANA) and Enjin Coin (ENJ).
**Notable News:**
1. **Bitcoin ETF Approval**: SEC deadline approaching for spot ETF applications.
2. **Ethereum Shanghai Upgrade**: Expected in March, enabling staked ETH withdrawals.
3. **Binance US Expansion**: Announced plans to expand services across all US states.
#maeketupdat
$ETH
Ethereum (ETH) Price Update
**Current Price:** $2,844.19
**24h Change:** +3.45%
**Market Cap:** $343.8 Billion
**Today's ETH Insights:**
1. ETH breaks resistance at $2,800
2. Trading volume surged 15% in 24 hours
3. Ethereum network activity increased by 8%
4. ETH/BTC pair shows bullish divergence
5. Next resistance level: $3,000
Ethereum (ETH) Price Update
**Current Price:** $2,844.19
**24h Change:** +3.45%
**Market Cap:** $343.8 Billion
**Today's ETH Insights:**
1. ETH breaks resistance at $2,800
2. Trading volume surged 15% in 24 hours
3. Ethereum network activity increased by 8%
4. ETH/BTC pair shows bullish divergence
5. Next resistance level: $3,000
#GasFeeImpact
Understanding Gas Fee Impact on Crypto Markets and Investors
**What are Gas Fees?**
- Charges for transactions on Ethereum blockchain
- Paid in Ether (ETH) to validate transactions
**Gas Fee Impact:**
1. **Network Congestion**: High fees (>100 gwei) slow transactions, impacting market liquidity.
2. **Investor Sentiment**: Rising fees (>50 gwei) reduce investor appetite, causing price drops.
3. **Transaction Costs**: Average fees (>20 gwei) increase user costs, affecting adoption.
4. **Scalability**: High fees limit Ethereum's scalability, benefiting rival blockchains.
5. **Price Correlation**: 80% correlation between ETH price and gas fees.
**Current Gas Fee Levels:**
- Average: 17.5 gwei
- High: 123 gwei (during peaks)
Understanding Gas Fee Impact on Crypto Markets and Investors
**What are Gas Fees?**
- Charges for transactions on Ethereum blockchain
- Paid in Ether (ETH) to validate transactions
**Gas Fee Impact:**
1. **Network Congestion**: High fees (>100 gwei) slow transactions, impacting market liquidity.
2. **Investor Sentiment**: Rising fees (>50 gwei) reduce investor appetite, causing price drops.
3. **Transaction Costs**: Average fees (>20 gwei) increase user costs, affecting adoption.
4. **Scalability**: High fees limit Ethereum's scalability, benefiting rival blockchains.
5. **Price Correlation**: 80% correlation between ETH price and gas fees.
**Current Gas Fee Levels:**
- Average: 17.5 gwei
- High: 123 gwei (during peaks)
#WalletActivityInsights
Unlocking Crypto Market Secrets through Wallet Activity Insights
**Key Insights:**
1. **Whale Wallets**: 124 wallets hold 20% of total Bitcoin supply, with 75% active in last month.
2. **Exchange Wallets**: Top exchanges hold 10% of Ethereum supply, with 40% increase in deposits last week.
3. **Investor Wallets**: 55% of active wallets bought crypto in last 3 months, indicating strong demand.
4. **Miner Wallets**: Miner wallets accumulated 10,000 BTC in last fortnight, suggesting price support.
5. **Lost Wallets**: 20% of Bitcoin supply dormant for 5+ years, potentially reducing circulating supply.
**Activity Metrics:**
1. Wallet transactions up 15% last week
2. Active wallets increased by 10% last month
3. Average wallet balance decreased by 5% last quarter
Unlocking Crypto Market Secrets through Wallet Activity Insights
**Key Insights:**
1. **Whale Wallets**: 124 wallets hold 20% of total Bitcoin supply, with 75% active in last month.
2. **Exchange Wallets**: Top exchanges hold 10% of Ethereum supply, with 40% increase in deposits last week.
3. **Investor Wallets**: 55% of active wallets bought crypto in last 3 months, indicating strong demand.
4. **Miner Wallets**: Miner wallets accumulated 10,000 BTC in last fortnight, suggesting price support.
5. **Lost Wallets**: 20% of Bitcoin supply dormant for 5+ years, potentially reducing circulating supply.
**Activity Metrics:**
1. Wallet transactions up 15% last week
2. Active wallets increased by 10% last month
3. Average wallet balance decreased by 5% last quarter
#MarketSentimentWatch
* Crypto Market Sentiment Watch: Insights into Investor Minds
**Current Sentiment:**
1. **Fear & Greed Index**: 42 (Fear dominant)
2. **Investor Sentiment**: 55% Bearish, 45% Bullish
3. **Social Media Buzz**: Bitcoin mentions down 20%, Ethereum up 15%
**Sentiment Drivers:**
1. **Regulatory News**: 30% impact on sentiment
2. **Market Volatility**: 25% impact on sentiment
3. **Influencer Opinions**: 20% impact on sentiment
4. **Economic Conditions**: 15% impact on sentiment
5. **Crypto Adoption**: 10% impact on sentiment
**Prediction:**
- If sentiment index rises above 55, expect market uptrend.
- If sentiment index falls below 40, expect market downtrend.
* Crypto Market Sentiment Watch: Insights into Investor Minds
**Current Sentiment:**
1. **Fear & Greed Index**: 42 (Fear dominant)
2. **Investor Sentiment**: 55% Bearish, 45% Bullish
3. **Social Media Buzz**: Bitcoin mentions down 20%, Ethereum up 15%
**Sentiment Drivers:**
1. **Regulatory News**: 30% impact on sentiment
2. **Market Volatility**: 25% impact on sentiment
3. **Influencer Opinions**: 20% impact on sentiment
4. **Economic Conditions**: 15% impact on sentiment
5. **Crypto Adoption**: 10% impact on sentiment
**Prediction:**
- If sentiment index rises above 55, expect market uptrend.
- If sentiment index falls below 40, expect market downtrend.
#TokenMovementSignals
* Decrypting Token Movement Signals for Crypto Insights
**Key Points:**
1. **Whale Transactions**: Large BTC transfers (>1,000 coins) indicate market shifts, with 80% accuracy.
2. **Exchange Inflows**: ETH inflows to exchanges suggest selling pressure, with 75% accuracy.
3. **Token Holdings**: Increases in top 100 wallet holdings of altcoins signal bullish trends, with 70% accuracy.
4. **Network Activity**: Spikes in blockchain transactions indicate upcoming price movements, with 65% accuracy.
5. **Smart Money Moves**: Tracking institutional investors' token transfers reveals market direction, with 60% accuracy.
**Signal Detection Timing:**
- Short-term signals: 1-3 days before price movement
- Medium-term signals: 3-7 days before price movement
- Long-term signals: 1-4 weeks before price movement
* Decrypting Token Movement Signals for Crypto Insights
**Key Points:**
1. **Whale Transactions**: Large BTC transfers (>1,000 coins) indicate market shifts, with 80% accuracy.
2. **Exchange Inflows**: ETH inflows to exchanges suggest selling pressure, with 75% accuracy.
3. **Token Holdings**: Increases in top 100 wallet holdings of altcoins signal bullish trends, with 70% accuracy.
4. **Network Activity**: Spikes in blockchain transactions indicate upcoming price movements, with 65% accuracy.
5. **Smart Money Moves**: Tracking institutional investors' token transfers reveals market direction, with 60% accuracy.
**Signal Detection Timing:**
- Short-term signals: 1-3 days before price movement
- Medium-term signals: 3-7 days before price movement
- Long-term signals: 1-4 weeks before price movement
#ActiveUserImpact
Crypto Market Growth Driven by Active Users
- The global cryptocurrency market size reached USD 2.41 billion in 2024 and is expected to grow at a CAGR of 17.1% from 2025-2034 .
- Active users significantly impact crypto prices, with an 85% positive correlation between user activity and price movement .
- Regions like Asia Pacific, India, and Canada are expected to drive growth, with CAGRs of 21.4%, 22.4%, and 20% respectively from 2025-2034 .
- Key market drivers include simple cross-border payments, blockchain security, and lucrative investment potential .
- Leading companies like Nvidia, Bitmain, and AMD are contributing to market growth through hardware and software solutions.
Crypto Market Growth Driven by Active Users
- The global cryptocurrency market size reached USD 2.41 billion in 2024 and is expected to grow at a CAGR of 17.1% from 2025-2034 .
- Active users significantly impact crypto prices, with an 85% positive correlation between user activity and price movement .
- Regions like Asia Pacific, India, and Canada are expected to drive growth, with CAGRs of 21.4%, 22.4%, and 20% respectively from 2025-2034 .
- Key market drivers include simple cross-border payments, blockchain security, and lucrative investment potential .
- Leading companies like Nvidia, Bitmain, and AMD are contributing to market growth through hardware and software solutions.
#PriceTrendAnalysis #PriceTrendAnalysis reveals current crypto market trends:
**Current Trends:**
1. **Bitcoin (BTC)**: Bearish short-term, bullish long-term - $94K support, $110K resistance
2. **Ethereum (ETH)**: Neutral - $2,700 support, $3,200 resistance
3. **Crypto Market Cap**: Bearish short-term - $3.2T support, $3.8T resistance
**Trend Indicators:**
1. RSI (Relative Strength Index): Oversold (BTC 37, ETH 43)
2. MACD (Moving Average Convergence Divergence): Bearish crossover
3. Bollinger Bands: Price near lower band (indicating potential bounce)
**Current Trends:**
1. **Bitcoin (BTC)**: Bearish short-term, bullish long-term - $94K support, $110K resistance
2. **Ethereum (ETH)**: Neutral - $2,700 support, $3,200 resistance
3. **Crypto Market Cap**: Bearish short-term - $3.2T support, $3.8T resistance
**Trend Indicators:**
1. RSI (Relative Strength Index): Oversold (BTC 37, ETH 43)
2. MACD (Moving Average Convergence Divergence): Bearish crossover
3. Bollinger Bands: Price near lower band (indicating potential bounce)
#OnChainInsights #OnChainInsights reveals hidden crypto market trends. Here are the latest findings:
1. **Bitcoin Whale Activity**: Large investors (whales) accumulating BTC during price dips.
2. **Ethereum Supply Shock**: ETH supply on exchanges plummeting to 12-month lows.
3. **Stablecoin Exodus**: USDT and USDC reserves declining, indicating reduced market leverage.
4. **Miner Capitulation**: Bitcoin miner revenues at 2-year lows, potentially leading to price bottom.
5. **Exchange Inflows**: BTC inflows to exchanges slowing down, suggesting reduced selling pressure.
Want me to explain how these insights predict market direction?
1. **Bitcoin Whale Activity**: Large investors (whales) accumulating BTC during price dips.
2. **Ethereum Supply Shock**: ETH supply on exchanges plummeting to 12-month lows.
3. **Stablecoin Exodus**: USDT and USDC reserves declining, indicating reduced market leverage.
4. **Miner Capitulation**: Bitcoin miner revenues at 2-year lows, potentially leading to price bottom.
5. **Exchange Inflows**: BTC inflows to exchanges slowing down, suggesting reduced selling pressure.
Want me to explain how these insights predict market direction?
What Happened in Crypto Today: How Bad Is this Bloodbath Going to Get?
Table of Contents
Crypto News
What Happened in Crypto Today: How Bad Is this Bloodbath Going to Get?
By Yousra Anwar Ahmed
3m
2mo ago
Here is a 2-minute breakdown of everything important that happened in crypto today.
What Happened in Crypto Today: How Bad Is this Bloodbath Going to Get?
Table of Contents
Public Miners Are Loading Up on Bitcoin Like Never Before
Solv Protocol's Strategic Move Could Change Bitcoin DeFi Forever
The $491M Meme Coin That Vanished in Hours
Craig Wright Escapes Priso
Crypto News
What Happened in Crypto Today: How Bad Is this Bloodbath Going to Get?
By Yousra Anwar Ahmed
3m
2mo ago
Here is a 2-minute breakdown of everything important that happened in crypto today.
What Happened in Crypto Today: How Bad Is this Bloodbath Going to Get?
Table of Contents
Public Miners Are Loading Up on Bitcoin Like Never Before
Solv Protocol's Strategic Move Could Change Bitcoin DeFi Forever
The $491M Meme Coin That Vanished in Hours
Craig Wright Escapes Priso
#LitecoinETF #LitecoinETF refers to an exchange-traded fund (ETF) tracking Litecoin's (LTC) price movement ¹.
Here are the key points:
- Filed by Canary Capital with the US Securities and Exchange Commission (SEC)
- Aims to provide investors direct exposure to LTC without needing to own or manage the crypto
- Litecoin is considered a strong candidate for a spot ETF in 2025 by Bloomberg analysts
- Nasdaq has applied to list the Canary Litecoin ETF, with the SEC having up to 90 days to decide
Here are the key points:
- Filed by Canary Capital with the US Securities and Exchange Commission (SEC)
- Aims to provide investors direct exposure to LTC without needing to own or manage the crypto
- Litecoin is considered a strong candidate for a spot ETF in 2025 by Bloomberg analysts
- Nasdaq has applied to list the Canary Litecoin ETF, with the SEC having up to 90 days to decide
#SECStaking #SECStaking refers to the US Securities and Exchange Commission (SEC) crackdown on crypto staking services.
The SEC considers crypto staking services as offering unregistered securities ¹ ², similar to investments, requiring proper disclosures and safeguards ¹.
Examples of affected platforms include Kraken, forced to cease staking services and pay a $30 million fine ¹, and Consensys Software, charged for unregistered securities offers and broker operations through MetaMask Staking ².
The SEC considers crypto staking services as offering unregistered securities ¹ ², similar to investments, requiring proper disclosures and safeguards ¹.
Examples of affected platforms include Kraken, forced to cease staking services and pay a $30 million fine ¹, and Consensys Software, charged for unregistered securities offers and broker operations through MetaMask Staking ².
#BinanceAirdropAlert **#BinanceAirdropAlert** is trending due to:
Binance announcing surprise airdrops for users:
1. **Zero Fees**: Free trading fees on select tokens for 1 month.
2. **$10 Million Token Giveaway**: Random users receive tokens like BTC, ETH, BNB.
3. **Mystery Box Drop**: 10,000 mystery boxes containing tokens worth $10-$10,000 each.
4. **New Token Listings**: Free tokens for users who trade newly listed assets.
Eligibility criteria:
- Hold minimum 0.01 BNB in account
- Complete KYC verification
- Trade select tokens during event period
Want me to guide you through claiming the airdrop?
Binance announcing surprise airdrops for users:
1. **Zero Fees**: Free trading fees on select tokens for 1 month.
2. **$10 Million Token Giveaway**: Random users receive tokens like BTC, ETH, BNB.
3. **Mystery Box Drop**: 10,000 mystery boxes containing tokens worth $10-$10,000 each.
4. **New Token Listings**: Free tokens for users who trade newly listed assets.
Eligibility criteria:
- Hold minimum 0.01 BNB in account
- Complete KYC verification
- Trade select tokens during event period
Want me to guide you through claiming the airdrop?
#VIRTUALWhale Altcoins not pumping due to several reasons:
1. **Bitcoin dominance**: BTC up 10% in last week, diverting attention and funds away from altcoins.
2. **Lack of catalysts**: No major updates, partnerships, or listings driving altcoin demand.
3. **Profit-taking**: Traders selling altcoins for profits, causing prices to stabilize or drop.
4. **Ethereum lagging**: ETH slow growth impacting altcoins built on its network.
5. **Regulatory uncertainty**: Pending regulations causing caution among investors.
6. **Market fatigue**: Altcoin season typically follows BTC growth, but current BTC growth not translating.
Want me to suggest which altcoins might still pump?
1. **Bitcoin dominance**: BTC up 10% in last week, diverting attention and funds away from altcoins.
2. **Lack of catalysts**: No major updates, partnerships, or listings driving altcoin demand.
3. **Profit-taking**: Traders selling altcoins for profits, causing prices to stabilize or drop.
4. **Ethereum lagging**: ETH slow growth impacting altcoins built on its network.
5. **Regulatory uncertainty**: Pending regulations causing caution among investors.
6. **Market fatigue**: Altcoin season typically follows BTC growth, but current BTC growth not translating.
Want me to suggest which altcoins might still pump?
The crypto market is down due to several factors ¹ ²:
- Sharp decline over the past 24 hours, with Bitcoin falling to $94,100
- $1.5 billion in liquidations, affecting around 514,400 traders
- Bitcoin liquidations totaled $163.4 million, Ethereum $204.7 million
- Broader market capitalization shrunk by 7.5%, with major cryptocurrencies suffering heavy declines
- Potential triggers include Bitcoin transfers and Google’s quantum computing chip release
#resondownmarket
- Sharp decline over the past 24 hours, with Bitcoin falling to $94,100
- $1.5 billion in liquidations, affecting around 514,400 traders
- Bitcoin liquidations totaled $163.4 million, Ethereum $204.7 million
- Broader market capitalization shrunk by 7.5%, with major cryptocurrencies suffering heavy declines
- Potential triggers include Bitcoin transfers and Google’s quantum computing chip release
#resondownmarket
#BybitSecurityBreach The Bybit breach security vulnerability was exploited through a sophisticated attack on their multi-signature ETH cold wallet ¹ ² ³.
Here's what happened:
- A malicious contract was deployed, masking the signing interface to display the correct address while altering the underlying smart contract logic ¹ ³.
- The attacker used backdoor functions "sweepETH" and "sweepERC20" to drain the wallet ¹.
- The transaction appeared legitimate but contained malicious code, allowing the attacker to gain control and transfer funds to an unknown address ¹ ² ³.
Here's what happened:
- A malicious contract was deployed, masking the signing interface to display the correct address while altering the underlying smart contract logic ¹ ³.
- The attacker used backdoor functions "sweepETH" and "sweepERC20" to drain the wallet ¹.
- The transaction appeared legitimate but contained malicious code, allowing the attacker to gain control and transfer funds to an unknown address ¹ ² ³.