Crypto money markets have been going on harsh decreases since yesterday. Following the stolen of $ 1.4 billion from the Bybit stock exchange, the price of ETH had reached $ 2800 with the purchases made by the stock market. However, the laundering of the Hackers by launching the assets of the Hackers, creating confidence erosion in the market. Argentina President Javier Milei’s Memecoin Lilbra’yla associated with the “Insider Trading” allegations, as well as Bybit Hackers in the money laundering of the fading network of the network of the left’s price brought a harsh decline in the price of the left. On the other hand, US President Donald Trump announced that the customs duties targeting Canada and Mexico will be enacted next month.
The total value of the crypto market decreased by 9 percent in the last 24 hours and decreased to 2.87 trillion dollars. Bitcoin’s (BTC) price 7 percent, Ethereum (ETH) value of close to 13 percent depreciated. Solana (left) and XRP’deki loss of values reached 13 percent.
Trump spoke, the markets were tense
Trump said he expects customs duties to Mexico and Canada at a press conference at the White House to start in March. Customs duties include 25 percent tax on goods from both countries, while a 10 percent lower tariff is applied to Canadian energy resources such as oil, natural gas and electricity. Customs duty led to many investors to avoid risk due to their uncertainties in the US economy and the crypto market decreased by 8 percent.
The crypto currency market, which was shaken after the recent attack on Bybit, fell freely after Trump confirmed that customs duties would enter into force on March 4th. Trump said in a statement on February 24:
“Customs duties are moving in accordance with the program.”
Altcoins cried blood
Following the announcement, there was a much sharper decline in the crypto currency market, and in the last 24 hours, blood losses in the major Altcoins found double households.
Ethereum (ETH) decreased by 10 percent to $ 2,523.37, XRP (XRP) decreased to $ 2.30 with a loss of 10.85 percent, and the solea (left) price decreased by 15 percent to $ 143.
Ethereum experienced the hardest decline
After the hacking of Bybit days ago, investors’ concerns were resolved in a short time, and ETH supply in the stock market became stable again. However, there was another hacking event immediately. Stablecoin bank Oxinfini hacked and 49.5 million USDC stolen. Later, the hacker replaced 49.5 million USDC with 49.5 million DAI. This hacker bought 17,696 ETHs using Stablecoins.
Negative news, as expected, negatively affected Ethereum’s price. ETH lost 13 percent in the last 24 hours and fell to $ 2,410.
Trust problems increased to Solana
Last month, Solana witnessed a 35.5 percent significant decrease in the price and reached a $ 158 bottom from a $ 195 summit. Dogecoin (Dogge), Shiba Inu (Shıb) and Pepe (Pepe) suffered losses with the erosion of trust in markets.
Another important development that has contributed to the recent decline of Solana was a series of unfortunate events in the recent period. These include LIBra Token’s $ 4 billion market value, although the price decreases more than 90 percent. Lazarus Group, a North Korean cyber criminal organization, released Memecoin named Qinshihuang to launder the $ 26 million of $ 1.5 billion stolen from Bybit. Later, Pump made a purchase-sale process via Pump Fun. With this method, the stolen money laundered and lost traces.
In addition, 11.2 million Sol (currently worth $ 1.5 billion with dollars) will be opened on March 1. These tokens were first sold during the bankruptcy of FTX and were later purchased by companies such as Galaxy, Pantera and Figure.
