Ethereum News: Potential Price Crash to $2,000 Amid Bearish Market Signals

The cryptocurrency market is experiencing turbulent times, with Ethereum`s price taking a significant hit. Technical analysis suggests a possible crash to $2,000, amid bearish signals and a broader market downturn.

Ethereum Price Crash To $2,000 Possible Amid Bearish Signals

Ethereum’s price has taken a sharp downturn, with technical analysis indicating a possible crash to $2,000. Crypto analyst SwallowAcademy noted bearish signals forming in smaller timeframes, especially as buyers failed to maintain a key support zone at $2,700. The broader market downturn has strengthened the case for further declines, with Ethereum plunging over 12% in 24 hours, while Bitcoin fell below $90,000, shedding 6.9% in the same timeframe.

Alchemy Launches $5M ‘Everyone Onchain Fund’ to Fast-Track Web3 Adoption

Blockchain developer platform Alchemy has announced the launch of its $5 million Everyone Onchain Fund to accelerate mainstream Web3 adoption and align with ecosystem evolution. The initiative comes at a pivotal moment in Ethereum`s technical evolution, as the ecosystem undergoes major transitions in scaling, wallet security, and privacy. The fund provides support through startup resources to developers building on Ethereum and smart wallets, including rollup deployment and user onboarding. Furthermore, developers may receive up to $10,000 in gas credits and $20,000 in compute credits, with the program offering up to $25,000 per team to start building with smart wallets and rollups.

Major Ethereum Upgrade Pectra Goes Live on Holesky Testnet

The Pectra upgrade, a significant enhancement to the Ethereum network, was activated on the Holesky testnet on February 25 at 4:55 pm ET. Activated at epoch 115,968, the upgrade aims to stress-test new features in a controlled environment. Holesky, one of Ethereum’s primary test networks, simulates real-world conditions, enabling developers to identify and resolve potential issues before full deployment. However, despite launching as scheduled, the block explorer revealed that network slots following the activation had not been finalized due to a simple bug as the team forgot to specify the proper smart contract address.

Bybit Hack: Thief Launders $224M of $1.4B Stolen Funds in 60 Hours

The attacker behind the Bybit exploit has laundered 18% of the stolen funds, valued at about $224 million, in just 60 hours. The hacker used THORChain for cross-chain swaps, converting ETH into other crypto assets at breakneck speeds. Blockchain analysis firm EmberCN revealed that 89,500 ETH were successfully laundered in the past two and a half days. This represents approximately 18% of the nearly 500,000 ETH stolen from Bybit on February 21.