By Shikha Singh
Bitcoin (BTC) Suffers After Bybit Hack, But Indicators Suggest a Rebound.
Bitcoin (BTC) has struggled to stay above $100,000 since February 5, facing resistance despite attempts at recovery.
Recent indicators suggest increased bearish pressure, with sellers gaining control in the market. A sharp price drop occurred after a hack on the Bybit exchange, which caused Bitcoin’s price to fall from around $98,000 to $95,000 within a few hours.
However, there are signs of potential reversal if Bitcoin can break key resistance levels. If it does, BTC could test $97,756 and possibly reach $100,000 again, with $102,668 as the next target.
Despite some recent declines and resistance, there’s still a chance for a recovery depending on whether Bitcoin can overcome current challenges.
Bybit Announces Recovery Bounty Program.
Bybit is launching a recovery bounty program in response to a significant security breach in which the Lazarus group stole over $1.4 billion in ETH.
The exchange plans to reward individuals with 10% of the funds they help recover. Bybit’s CEO, Ben Zhou, expressed gratitude for the community’s support and expertise in the aftermath.
Furthermore, Binance and Bitget transferred over 50,000 ETH to Bybit’s cold wallets today following a security breach that resulted in the theft of 401,346 ETH ($1.46 billion) from the exchange.
He emphasized the company’s commitment to improving security, liquidity, and its overall partnership within the crypto community. Despite the setback, Bybit aims to learn from the incident and enhance its infrastructure.
Arthur Hayes, Samson Mow Push for Ethereum Rollback.
Following Bybit’s attack, some prominent figures, including Arthur Hayes (former BitMEX CEO) and Samson Mow (CEO of JAN3), called for a rollback of Ethereum’s blockchain to recover the stolen funds.
Hayes suggested the rollback, citing a previous Ethereum hard fork after the DAO hack in 2016. However, rolling back the blockchain is highly controversial and risky, as it would erase all non-hack-related transactions, potentially undermining Ethereum’s immutability. As of now, no official response has come from Ethereum’s leadership, including Vitalik Buterin.
Ethereum Dominates RWAs with $4.1 bn in AUM Value And 54.5% Market Share.
Ethereum has become the leading blockchain for tokenized real-world assets (RWAs), with its total RWA value growing by 10% in the past 30 days to $4.1 billion, capturing 54.5% of the market share.
Ethereum’s RWA ecosystem is expanding, with more than 62,000 holders and 163 RWA tokens issued.
Major financial institutions like Deutsche Bank, PayPal, and Louis Vuitton are developing crypto-specific applications on Ethereum and its Layer 2 networks.
Ethereum outpaced competitors, with zkSync and Stellar far behind, holding $1.95 billion and $405 million in RWA value, respectively.
Kaito, SEI, YAP, and Grok Dominate Crypto Trends Amid Market Growth.
Kaito (KAITO), Sei (SEI), YAP (YAP), and Grok (GROK) are currently leading discussions across platforms like X, Reddit, and Telegram, coinciding with growth in the crypto market.
KAITO, the token of the AI platform Kaito, has gained attention due to its listings on major exchanges like Binance, Coinbase, and KuCoin, along with its active trading and airdrop claims.
YAP, developed by Kaito, is also gaining traction due to its “tweet-to-earn” mechanism, where users earn points for social media engagement.
SEI has gained attention after a significant purchase of its tokens by World Liberty Financial, sparking debates on institutional interest.
Grok is trending because of its association with Elon Musk’s AI initiative and its potential in financial advisory, with users comparing it to other AI models.
Financial Damages from LIBRA Coin Fiasco Revealed in Nansen Report.
Nansen’s report on the controversial LIBRA token reveals that 86% of traders collectively lost about $251 million, while a small group of winners made at least $180 million in profits.
LIBRA, launched on Valentine’s Day, quickly rose to a $4.5 billion market cap after Argentine President Javier Milei’s endorsement, but the price plummeted when the project’s backer, Hayden Davis, called it a meme token, and Milei distanced himself from it.
Insider trading suspicion also surfaced. While most traders suffered losses, some, including early buyers using bots or snipers, made significant profits.
Despite a brief resurgence in price after Milei’s February 17 tweet, most participants in the post-hype period faced losses, and over 1,000 wallets still hold the token with unrealized losses.
Dogecoin Volume Skyrockets 86%.
Dogecoin (DOGE) has seen a significant surge in trading volume, reaching over $2 billion, an increase of 86% in the past 24 hours despite a price dip from $0.25 to $0.23.
While the coin has experienced a 29.72% decline over the past month, it has managed to maintain crucial support above $0.22, which analysts believe could help it stage a rebound.
The increase in trading volume and open interest signals growing investor interest, with optimism fueled by potential regulatory developments, such as the SEC’s consideration of Grayscale’s ETF filing. This could pave the way for institutional investment, which might positively impact DOGE’s price.
OpenSea Says SEC Will End Investigation Into Ethereum NFT Marketplace.
The SEC has decided to end its investigation into the NFT marketplace OpenSea, with CEO Devin Finzer celebrating the decision as a victory for creators in the space.
The SEC will not take enforcement action against OpenSea, which had previously received a Wells notice regarding the potential sale of unregistered securities.
Finzer emphasized that classifying NFTs as securities would hinder innovation. The move follows the SEC’s decision to drop charges against Coinbase, signaling a more crypto-friendly approach under the new SEC leadership. OpenSea, once the dominant Ethereum NFT marketplace, has also announced plans for a new SEA token and an upgraded platform, OS2.
Michael Saylor Hints at Strategy’s Next Major Bitcoin Acquisition.
Strategy, formerly known as MicroStrategy, may be preparing for another significant Bitcoin purchase after co-founder Michael Saylor hinted at it on social media.
On February 23, Saylor shared a Bitcoin tracker with a cryptic message, suggesting that recent transactions weren’t reflected, sparking speculation in the crypto community that another major acquisition is imminent.
The company recently raised funds through convertible bonds and may allocate up to $2 billion for Bitcoin, part of its “21/21 Plan” to secure $42 billion for BTC investments.
Strategy, now the largest corporate holder of Bitcoin, last acquired 7,633 BTC in February 2025 and currently holds 478,740 BTC, worth about $47 billion. Its aggressive Bitcoin strategy has influenced over 70 other publicly traded companies to add Bitcoin to their reserves.
Million-Dollar Dolce & Gabbana Digital Suit Fractionalized on Ethereum L2 Base.
Fermion Protocol, a real-world asset (RWA) application built on the Ethereum layer-2 network Base, is pioneering the fractionalization of luxury goods, starting with Dolce & Gabbana’s Glass Suit. This digital suit, part of the Italian fashion brand’s Collezione Genesi, was originally auctioned in 2021 for $1 million. The auction included both the physical suit and its digital counterpart, tokenized as an Ethereum NFT.
Fermion’s approach involves dividing the digital asset into numerous shares, allowing broader ownership among collectors.
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