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The largest altcoin, Ethereum ( $ETH ) , is currently undergoing a different process compared to previous market cycles. While Bitcoin (BTC) continues to set new records, Ethereum has yet to achieve the same feat. However, certain on-chain indicators suggest that ETH still possesses significant bullish potential. The MVRV Price Bands and Mayer Multiple models indicate that prices remain undervalued, and the strongest bullish phase has not yet commenced. What Do MVRV Price Bands Indicate for Ethereum ? Market Value/Realized Value (MVRV) is an indicator that helps determine whether an asset is overvalued or undervalued. This indicator works by comparing market value to realized value. Periods when MVRV drops below 0.8 (blue) indicate that prices are significantly low, while periods exceeding 2.4 (red) suggest overvaluation. Ethereum broke this level twice during the 2017-2018 cycle but only managed to reach the red zone once in 2021. In the current cycle, ETH has yet to surpass this level. However, similarities exist between the consolidation processes of previous cycles and the current movement. If the price does not drop below 0.8 again, the likelihood of a similar bullish surge remains. Mayer Multiple Model Indicates Upward Potential for ETH The Mayer Multiple model determines trading levels for Ethereum based on its 200-day moving average. This model analyzes the relationship between the price and specific multiples of the 200-day moving average (MA). Historically, the price peaks when it reaches 2.4 times the MA, while it hits the bottom when it falls below 0.8. In all previous market cycles, ETH exceeded the 2.4 level. However, in the current cycle, it has yet to break this threshold. Notably, significant similarities exist between the price movements of 2019-2020 and the current process. Ethereum dropped below 0.8, then rose above this level and surpassed the 200-day moving average, only to dip below 0.8 again but at a higher low. Following this model, ETH needs a strong upward movement to commence a new bull run. For ETH to continue its upward trajectory, gaining upward momentum is critical. Otherwise, if it falls below the 0.8 level again, the model may become invalid. The Mayer Multiple Model indicates that ETH is still significantly undervalued. With a structure reminiscent of 2020 levels, the largest altcoin may be on the brink of a major surge. However, some on-chain indicators suggest that the current cycle may be ending, making it challenging to provide a definitive outlook on Ethereum’s future, although certain models signal strong bullish potential.

🚨😱😱 400,000 ETH Stolen on Bybit: Here’s What Actually Happened Have you ever felt that sudden jolt when you notice something valuable is gone? The crypto scene experienced a shock exactly like that this afternoon, when 400,000 ETH (worth about 1.46 billion USD) vanished from Bybit. It’s a record-breaking hack that has many observers wondering: How could this happen on a platform people rely on for safe trading? The Biggest Crypto Theft to Date Hacks are not new in the crypto industry, but losing 400,000 ETH all at once is enormous. This recent incident outstrips the massive Ronin sidechain attack back in 2022, setting a grim new milestone. Ben Zhou, Bybit’s CEO, confirmed that a cold wallet was targeted. According to on-chain analyst ZachXBT, the funds were mostly stored as mETH and sETH (liquid staking tokens), which the hackers quickly swapped for regular Ether through decentralized exchanges. No one likes seeing large sums of digital currency being carted off, and the mood around the community is understandably tense. A few high-profile figures chimed in almost immediately: Changpeng Zhao (CZ), former Binance CEO, advised pausing withdrawals. It might sound drastic, yet it’s a common tactic to halt further losses if suspicious transactions keep popping up. Justin Sun, the Tron CEO, declared that he’s ready to help Bybit. His statement struck some as heartfelt, others as purely strategic, but that’s typical in a landscape where personal influence can make a difference. Arkham, well known for blockchain intelligence, announced a reward (50,000 ARKM tokens) for anyone able to identify the hackers. That bounty sits around 33,600 USD and reflects the drive to track stolen funds before they vanish into digital anonymity. BitMEX Research, for its part, reviewed Bybit’s reserves and noted that the platform appears able to cover these losses without harming client accounts. This point offers a glimmer of relief for Bybit customers, although it doesn’t erase the sting of the biggest ETH theft in crypto history. Familiar Patterns and Potential Suspects One detail stirring particular suspicion is the method used to fool Bybit’s multi-signature wallet. According to Ben Zhou, each authorized signer saw a manipulated interface that pointed to the correct address. Behind the scenes, though, the actual code changed the entire wallet contract logic. This gave the hacker direct access, allowing all of that Ether to flow right out. Some security experts compared it to the WazirX attack from last summer, which investigators attributed to the North Korean Lazarus group. That earlier hack never led to any meaningful fund recovery, so a lot of folks worry the same will happen again. ZachXBT reports that the stolen Ether has already been split among more than 48 addresses. That’s a cunning move because it spreads the loot out, making it harder for investigators and for law enforcement groups to trace. Meanwhile, the rest of Bybit’s cold wallets remain untouched, so it’s not a total meltdown. But 400,000 ETH is too big a loss to shrug off. Still, the exchange’s day-to-day operations haven’t screeched to a halt. You might think the entire platform would freeze, but Bybit has continued running, and user balances remain unaffected. The company holds around 20 billion USD across all its reserves, so covering a 1.46 billion USD shortfall looks possible. But if you’re storing crypto anywhere, you’ve likely found yourself double-checking your wallet settings. Nobody wants to be caught off guard. $ETH

Ben Zhou, Bybit CEO, assured the public that user funds were safe and that the platform could cover losses following the largest crypto exchange hack in history. Security veterans and concerned crypto community members rallied behind Bybit on Friday, Feb. 21, after the exchange lost over $1.4 billion to hackers. The largest-ever crypto exchange hack occurred while Bybit was attempting a routine transfer, Zhou said during a livestream following the incident. Specific details about the breach points remain scarce. However, initial reports suggest that hackers tricked Bybit’s signers into authorizing a malicious transaction from the platform’s Ethereum (ETH) cold wallet. Just in: According to @zachxbt, Bybit faced a security incident (likely hacked) where $1.44B worth of funds were withdrawn.401,347 $ETH worth $1.12B90,376 $stETH worth $253.16M15,000 $cmETH worth $44.13M8,000 $mETH worth $23MLater, these funds were moved to another wallet.… pic.twitter.com/FAuoRx3Rri — Onchain Lens (@OnchainLens) February 21, 2025 You might also like: Bybit’s ETH cold wallet exploited for $1.46b Bybit employs a multi-sig structure designed by Safe to manage its ERC-20 token reserves. This wallet requires multiple team members to sign off on transactions before execution. OxCygaar, a blockchain developer and Abstract Chain contributor, theorized that bad actors attacked each signer and somehow used malware to alter the multi-sig UI. The ramifications of this scenario are ghastly, as it means the hackers may have individually identified each signer and compromised their computers or crypto wallets. idk how they knew the multisig signers, but this type of attack has happened in the past.requires identifying each signer and then getting them to unknowingly install malware so their multisig ui is compromised — cygaar (@0xCygaar) February 21, 2025 Community backs Bybit, CEO sources bridge loan ARKM tokens for any information leading to the hacker’s identification. Additionally, Safe, Bybit’s multi-sig provider, announced ongoing maintenance to strengthen safety. NEW ARKHAM INTEL BOUNTY: BYBIT HACKWe’ve created & funded a bounty to help identify the person or organization behind today’s >$1B Bybit hack.Submissions to this bounty will be shared with the Bybit team to support their investigation.Reward: 50K ARKMBounty:… pic.twitter.com/1X3QgmRdda — Arkham (@arkham) February 21, 2025 Also, Zhou said Bybit was working with other industry players like Binance, OKX, and KuCoin and law enforcement to reach a resolution. “We have filed a police report,” Zhou shared on the livestream. Zhou and Shunyet Jan, Bybit’s head of derivatives, also revealed that the exchange is negotiating a bridge loan with partners to restore Ethereum withdrawals. According to Jan, the platform will offer collateral from its treasury, primarily in Bitcoin (BTC) and stablecoins. However, Zhou emphasized that Bybit can fully cover the loss, noting that the exchange manages over $20 billion in assets. Bybit’s leadership urged the crypto community to remain patient amid platform congestion, reassuring users that other ERC-20 withdrawals and normal operations continue as usual. Bybit is Solvent even if this hack loss is not recovered, all of clients assets are 1 to 1 backed, we can cover the loss. — Ben Zhou (@benbybit) February 21, 2025 Read more: Safe wallet pauses certain functionalities after Bybit hack

🌙 Good Night, Crypto Family! 🚀 Another day of opportunities and lessons in the crypto market has passed. Whether the charts were in our favor or tested our patience, remember—consistency and discipline are key to success! Rest well, recharge, and get ready for another day of smart trading. Stay focused, stay sharp, and always trade wisely. Sweet dreams & bullish gains ahead! 💹✨ — Smart Scalper Pro $BTC $ETH $LTC $BCH $ETC $BGB $BNB $SOL

Why $TUP Could Be a Hidden Gem Before the Next Rally The crypto market is a game of patience and positioning. While many investors panic during downturns, smart money looks for projects that continue building. TenUp (TUP) is one of those projects expanding its ecosystem while the market resets. What Makes TenUp Stand Out? Unlike projects that disappear in bear markets, TenUp is consistently evolving: 🔥 Gaming Expansion: Mini-games platform to drive engagement. 🔥 Copy Trading Exchange : Bringing smart trading tools to investors. 🔥 Staking & Passive Rewards: Long-term incentives for holders. 🔥TeNUP USDT Trading Platform: Simplifying buying and selling. 🔥 Upcoming Exchange Listings: More visibility, more liquidity. Altseason: The Turning Point When Bitcoin stabilizes, the real altcoin movement begins. The question isn’t if, but when. TenUp is positioned to capitalize on that shift with its ongoing developments. What’s Coming? 🚀 Market Recovery As ETH and other alts move, mid-cap gems follow. 🚀 Stronger Community & Ecosystem: Consistent growth attracts long-term investors. Final Thought Price action is temporary, but real development lasts. The next bull run will reward projects with strong fundamentals. Why is the Market Still Down? The entire crypto market is in a waiting phase. Here’s why: 🔹 Bitcoin Dominance Most liquidity is still parked in BTC, delaying altcoin movements. 🔹 Macroeconomic Conditions High interest rates and regulatory changes have slowed market growth. 🔹 Investor Sentiment Fear and uncertainty have kept new retail investors on the sidelines. $PI $BGSOL $IP $BAN $ETH $BTC $SOL $JELLYJELLY $KAITO $J