The cryptocurrency markets have faced a new wave of price declines following a hack on the ByBit exchange, resulting in significant losses in the digital asset world.
Bitcoin and Ethereum Price Drop
Over the weekend, Bitcoin's price dropped from $99,380 to $95,000 after the news of a $1.5 billion hack on ByBit. All stolen funds were in ETH, causing Ethereum's price to drop from $2,840 to $2,621 within hours on Friday.
Impact on Solana and Other Altcoins
Solana's price also experienced a decline, falling below $160, reaching $158.1 on leading crypto exchanges, marking a drop of over 7% in the past 24 hours. Solana is under pressure due to upcoming unlocks. Additionally, Raydium's RAY token, one of the largest DEX on Solana, dropped by 30% today.
Top Gainers and Losers of the Day
Amidst the general market decline, some tokens showed growth. Among the top gainers are S (Sonic), formerly known as Fantom, which surged by 8%, along with Theta Fuel and KAITO tokens, which increased by 11% and 6%, respectively. Among the major losers are tokens like EIGEN, RAY, and ENA, which lost 15%, 28%, and 13% of their value, respectively.
The current situation in the cryptocurrency markets highlights the fragility of the system when facing unexpected threats like hacking attacks, calling for strengthened security measures and vigilant monitoring.
