Crypto Market Overview: Market Dips after Bybit Hack, Prevailing Resilience

In the crypto market, Bitcoin ($BTC) and Ethereum ($ETH) have experienced a slight dip after the Bybit hack. The breach costs around $1.4 billion drained by the Lazarus Group of North Korea. Upon this breach, the crypto market is resilient because the leading exchanges offer support.  In such situation, assistance is provided by the leading exchanges such as Binance, Bitget, and MEXC, aiming to stabilize the condition.

Bybit, as a leader, remains communicative and transparent about the continuity of advancements. CryptoRank.io, a platform for crypto market analytics, has revealed the report through its official X account.

Market Trends Monitored by CryptoRank.io Amid Uncertainty

The crypto market possesses a valuation of $3.32 trillion which shows a decline of 2.15%. The dominance of bitcoin slightly edged up to 57.41% which highlights the nature of investors to take refuge in the leading cryptocurrency.

On the other side, the Fear & Greed Index is at 49 which underscores the neutral and cautious nature of market sentiments. This is the result of the OpenSea investigation which is officially dropped by the U.S. SEC, giving comfort to the NFT market. Moreover, Ye strives to launch the native token $YZY in the upcoming week. This advanced step has further raised excitement in the landscape of altcoin.

Surge of Small Caps Despite Market Pullback

Major cryptocurrencies have experienced losses but small-cap cryptocurrencies have faced significant gains. StormX ($STMX) has jumped 60%, Broccoli has surged by 43.4%, and Nodepay ($NC) has experienced a 39.1% surge. Other notable tokens are Rus with a surge of 31.9% and ThunderCore Official ($TT) which increased by 25.8%.

According to the latest data revealed by CryptoRank , the crypto market shows turbulence. Despite it, the growth opportunities remain at the top, significantly in the altcoin sector. Traders and analysts, with the latest details regarding the Bybit hack, aim to observe the responses of the market closely. This advancement again proves that the crypto space is as dynamic as ever.