The Bybit hack has caused Ethereum price to drop and now trading around the $2.7K range.
ETH’s daily trading volume has surged by over 103%.
The market has witnessed $120.44 million worth of Ethereum liquidations.
The Bybit hack, now the largest crypto breach in history, has sent shockwaves through the market. As the stolen ETH’s are moved and liquidated, Ethereum’s price has tumbled by more than 3.30%, raising concerns about further volatility.
The hacker drained roughly 401,000 ETH worth $1.4 billion from Bybit’s cold wallets. North Korea’s Lazarus Group are speculated behind the hack, as per crypto investigator ZachXBT. It has emerged like a bitter pill to swallow for ETH while it has been battling to regain the uptrend.
The altcoin has failed to gain traction, leaving ETH stuck in a consolidation phase for the last few weeks. In the early hours, the altcoin has broken the $2,819 and $2,832 resistance, hitting a high of $2,842. Once the bearish sh
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