This week, the cryptocurrency market experienced several significant events, starting with a surge in Ethereum prices and ending with a hack of the CoinDCX platform.
Ethereum Surges Significantly
Ethereum (ETH) price soared above $3,800, marking its highest level since January 2022. The recent rally was fueled by strong institutional interest and increased regulatory clarity for the crypto industry. Last month, ETF inflows hit $2.18 billion, with major firms like Bitmine and Sharplink holding over $1 billion in ETH.
CoinDCX Hacked for $44 Million
On July 19, 2025, the Indian cryptocurrency exchange CoinDCX suffered a massive $44.2 million hack. Cybersecurity firm Cyvers linked the sophisticated attack to North Korea's Lazarus Group, noting similarities to the $234 million WazirX breach on the same date in 2024. The exchange assured users that customer funds in secure cold wallets remained untouched.
Institutional Bitcoin Buying Continues
This week also saw continued institutional buying of Bitcoin. Michael Saylor's firm purchased 6,220 BTC for $739.8 million, announcing plans to raise $2.474 billion for further acquisitions. Additionally, companies like Semler Scientific and Sequans Communications added significant BTC volumes to their portfolios.
The week proved to be eventful for the cryptocurrency market with Ethereum's rise, CoinDCX's recovery attempts, and ongoing institutional purchases of Bitcoin. These events highlight the growing interest in cryptocurrencies among investors.
