Ethereum (ETH) Price Sinks Below $2,400 Amid February Market Uncertainty
Ethereum is facing its worst February in years, with prices plummeting as low as 25% amid mounting uncertainty.
The cryptocurrency dumped to a multi-week low of just over $2,300 hours ago before staging a minor recovery.
A Red February
According to Spot on Chain, February is usually a bullish month for ETH, with only one red example in 2018. However, this year seems to be an exception.
Macroeconomic factors, including new tariffs from U.S. President Donald Trump, are contributing to the instability. They have raised fears of a tighter global economic climate while also putting traditional markets under pressure. This has, in turn, impacted risk assets like crypto, pushing ETH into a sub-$2,400 level.
A recent security breach on the Bybit exchange that resulted in the theft of $1.4 billion in crypto (mostly ETH) also contributed to market instability. In the immediate aftermath of the hack, ETH lost 7% of its value. Since then, the exchange has restored its reserves by securing 446,870 ETH through whale deposits, loans, and direct purchases.
The company’s CEO, Ben Zhou, confirmed that it has fully recovered losses and is preparing an audited proof-of-reserves report to reassure users. However, this has done little to invigorate ETH, with the cryptocurrency struggling to break above $2,800, indicating persistent bearish pressure.
ETH Down 14% in 24 Hours
Earlier today, ETH dumped to $2,310 before recovering some ground to almost $2,400. Furthermore, the asset has failed to maintain key support levels in the last seven days, sparking concern about further declines.
Looking at its monthly performance, ETH started February at $3,217 but has since lost more than $800 in value. Over the week, it fell 7.3%, amplifying bearish sentiment. Its 24-hour movement has not been much better, shaving off more than 14% of its daily high of $2,733 to its current price, per data from CoinGecko.
Analysts have warned that with the altcoin failing to hold $2,400, its next major support lies at $2,250, potentially opening the door for further losses.
Ethereum’s woes aren’t isolated. Bitcoin, the number one cryptocurrency by market capitalization, has also struggled, dropping below $90,000 despite Strategy (formerly MicroStrategy) recently buying a whopping $1.99 billion worth of the cryptocurrency.
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Uniswap Labs no longer under SEC scrutiny as agency halts enforcement actions
Under President Trump, the U.S. Securities and Exchange Commission has stopped investigating several cryptocurrency and decentralized finance firms, including Coinbase, OpenSea, Robinhood, and now Uniswap Labs.
Uniswap Labs, the creator of Ethereum’s most traded decentralized exchange, is no longer facing legal action from the Securities and Exchange Commission as the agency’s Crypto Task Force overhauled enforcement actions from previous leadership.
Uniswap was previously accused of facilitating unregistered securities trading on its multi-chain decentralized exchange, acting as an unregistered broker-dealer, and operating an illegal clearinghouse according to a 2024 Wells notice and lawsuit from the agency.
The decentralized finance startup denied the allegations, as did several other firms facing similar charges. “If forced to litigate, we will win,” said Uniswap chief legal officer Marvin Ammori in May.
In April, the SEC issued a Wells notice claiming that Uniswap Labs operated as an unregistered broker, operated an exchange, and issued an unregistered security As of yesterday, that investigation has officially been closed, and the SEC is taking no enforcement action This is a…
Uniswap is the latest cryptocurrency firm to be granted relief from Securities and Exchange Commission scrutiny in 2025. The agency, through its newly formed Crypto Task Force, has also dropped cases against Coinbase and Robinhood . Investigations into non-fungible token marketplace OpenSea concluded with no further action.
“They went after us despite having no clear legal basis,” said Uniswap Labs founder and CEO Hayden Adams on X, adding that the Securities and Exchange Commission attempted “to force decentralized finance into a regulatory framework that doesn’t fit.”
The decision strengthened the regulatory outlook for decentralized finance and underscored the need for clearer rules, but Adams noted the toll the investigation had taken.
This investigation took over 3 years, forcing us to waste incredible amounts of time and millions of dollars. It also had a personal impact — federal investigations are violating and stressful to the point where there is a saying among lawyers that “the investigation IS the punishment.” That shouldn’t be the price of innovation in the US.
Hayden Adams, Uniswap Labs founder and CEO