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 approximately $1.4 billion being drained. Despite this incident, the crypto market has shown resilience, as leading exchanges are providing support. In such a situation, assistance is being offered by prominent exchanges such as Binance, Bitget, and MEXC, with the aim of stabilizing 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 that investors are seeking refuge in the leading cryptocurrency. Conversely, the Fear & Greed Index stands at 49, underscoring the neutral and cautious sentiment prevailing in the market. This situation follows the recent OpenSea investigation, which has officially been dropped by the U.S. SEC, providing reassurance to the NFT market. Furthermore, Ye is striving to launch the native token $YZY in the upcoming week, which has generated additional excitement in the altcoin landscape.
Surge of Small Caps Despite Market Pullback
While major cryptocurrencies have faced losses, small-cap cryptocurrencies have seen significant gains. StormX ($STMX) has surged by 60%, Broccoli has increased by 43.4%, and Nodepay ($NC) has experienced a 39.1% rise. Other notable tokens include Rus, which surged by 31.9%, and ThunderCore Official ($TT), which rose by 25.8%.
According to the latest data revealed by CryptoRank, the crypto market is showing signs of 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 observing the market’s responses. This development further demonstrates that the crypto space remains as dynamic as ever.