Bybit News: Hedera (HBAR) Faces Significant Decline After Bybit Hack, Price Drops to $0.1826

The cryptocurrency market is always volatile, and Hedera (HBAR) is no exception. In recent days, the price of HBAR has experienced a significant decline, particularly after a hack at the Bybit exchange. Here’s a closer look at what’s been happening with Hedera’s price and market capitalization.

Hedera (HBAR) Price Prediction for March 21

In the past 24 hours, the price of Hbar has faced a strong bearish rally, dropping by 4.1% to $0.1826. The trading volume for Hedera has also decreased by 33% to $197 million. Looking at a longer timeline, Hedera’s price has been decreasing since December 3, when it dropped below $0.39. The price crashed heavily on February 3, falling below $0.2, and the hack in Bybit pushed it further down. In the last 24 hours, Hedera’s market capitalization has decreased by 4% to $7.7 billion. HBAR’s funding rate has turned negative, and the coin is experiencing increased downward volatility as it approaches the critical $0.18 level.

US Government Lifts Tornado Cash Sanctions & Ban

The US Treasury Department has officially removed Tornado Cash sanctions based on a review by the current administration. Tornado Cash was accused of aiding the Lazarus Group, a North Korean hacking entity involved in a $1.4 billion theft from Bybit. However, the administration remains committed to combating money laundering.