$ETH

As of February 22, 2025, Ethereum (ETH) is trading at $2,771.07, reflecting an increase of $133.18 (approximately 5.05%) from the previous close. The day's trading range has seen a high of $2,792.69 and a low of $2,620.43.

On February 21, 2025, the cryptocurrency exchange Bybit experienced a significant security breach, resulting in the theft of approximately $1.5 billion worth of Ethereum. Hackers managed to transfer around 401,000 ETH from Bybit's cold wallet to an unidentified address. This incident is considered one of the largest in the history of cryptocurrency thefts.

In response to the hack, Ethereum's price experienced a sharp decline of about 4%, dropping from $2,850 to $2,750 within an hour. The market reaction was immediate, with Ethereum's 24-hour trading volume increasing by 82% to $29.46 billion, indicating heightened activity as traders reacted to the uncertainty.

Despite the breach, Bybit's CEO, Ben Zhou, assured clients that the exchange remains solvent and that all customer assets are fully backed. The company has processed over 350,000 withdrawal requests following the incident.

The hack has raised concerns about the security of centralized exchanges and has contributed to increased volatility in the cryptocurrency market. Analysts advise traders to monitor the situation closely, as the movement of the stolen funds could further impact Ethereum's price dynamics in the near term.