Crypto Weekly (17/02 - 23/02): Bitcoin Stagnates, Bybit Hacked

Table of Contents

1. Crypto Market Last Week

Last week, Bitcoin did not experience significant fluctuations as its price remained stable between $90,000 and $100,000, currently trading around $96,000. While Bitcoin seemed “quiet,” the crypto market was buzzing with two major events that shook the community.

The first was the memecoin LIBRA scandal involving Argentine President Javier Milei. The revelation exposed numerous shady connections behind the scenes, along with suspicions of insider trading amid the recent memecoin frenzy, causing negative repercussions for related projects. Additionally, the Bybit exchange announced that hackers had stolen $1.46 billion worth of Ethereum from its cold wallet. This is considered one of the most devastating hacks, not only in crypto history but globally.

Meanwhile, FTX has also begun refunding users who had their assets frozen following the exchange’s collapse in 2022. After two years of waiting, this marks a significant step forward for the affected community.

Top 10 Gainers of the Week

Top 10 Losers of the Week

2. Crypto Market This Week

Token Unlock Schedule

Regarding this week’s token unlocks, a total of $96.84 million worth of tokens will be released, with key projects including:

$OP (1.93%) – $36.47 million
$SUI (0.33%) – $35.66 million
$DYDX (1.14%) – $7.42 million
$ALT (4.60%) – $5.83 million
$AI (5.19%) – $1.88 million
$YGG (1.57%) – $1.71 million

Macroeconomic News

In the coming week, key economic updates will focus on Thursday (February 27th):

1:30 PM – Gross Domestic Product (GDP) Report: If actual figures exceed expectations, the USD will likely strengthen; otherwise, it may face downward pressure.
1:30 PM – Initial Jobless Claims Report: Higher-than-expected numbers would be a negative signal for the USD, while lower figures would support its value.

This week and the next promise to bring significant developments for both the crypto market and the global economy!