The Binance (BNB) coin price has been on a downward trend since last Friday. The ETH price is also down by 10%, and it is struggling to cross the $2,500 level. The bear market has affected all top altcoins. Experts say ETH and BNB are under pressure because of the fallout from Bybit’s $1.4 billion exploit last week. Ethereum news has confirmed that the hack resulted in the theft of approximately 401,347 Ether (ETH), along with other staked Ether tokens The Binance (BNB) price dropped as customers shifted funds off centralized exchanges because of the ByBit security breach. Once DTX Exchange launches its trading platform, it will offer unmatched security and reliability, as decentralization is central to its purpose. It will offer the speed and efficiency of centralized exchanges, but as a DeFi project, there will be no possibility of a hack like the one that Bybit has faced. Additionally, the prospect of 200% gains with the upcoming listing of DTX Exchange is also driving massive hype for the DeFi project. Binance (BNB) Coin To Rebound and Hit $680 The Bybit hack has rocked the entire crypto market as it is the biggest crypto heist in history. Naturally, top altcoins like Binance (BNB) are reeling from the aftereffects, especially as trust in centralized exchanges has been shaken. Ethereum news said Binance even transferred ETH in emergency support to Bybit within hours of the attack, and the BNB price reacted positively, but as customers started shifting funds off Binance, the BNB price came crashing down. There are concerns about the hack's effect on Binace’s reserves, and daily transactions have been reduced on the platform, impacting BNB’s value accrual through staking and trading fee incentives. Key stakeholders of the BNB Chain ecosystem have advised the community to hold their positions, hopefully easing selling pressure. Key experts say the Binance (BNB) price will attempt a rebound toward $680, and technicals show that bullish traders are holding rather than capitulating. Once investor interest returns, the rebound is imminent unless negative catalysts emerge. The Binance (BNB) coin will meet resistance at $640, and potential recovery above this will invalidate further downside risks. Bearish Market Sentiment for Ethereum Because of Stolen 400,000 ETH As per Ethereum news, the ETH price dropped after the Bybit hack was announced. More than $1.44 billion worth of Ethereum-based assets were stolen, and demand for it was expected to help the ETH price. Bybit decided against buying Ethereum to settle market withdrawals and chose to leverage bridge loans. The ETH price dropped 6% when Ethereum news announced the hack and fell below $2,400 yesterday. The ETH price was on its way to recovering to $2,900, but if Bybit had bought it to refund customers, the ETH price would have been boosted. Post the hack, Ethereum news has confirmed that the ETH price has fallen below its support at $2,560 and could see a daily candlestick close at $2,200. The ETH price is currently moving downwards towards support at $2,320. Ethereum news confirmed that the ETH price is subdued by bearish sentiment because of the hack, as a massive supply of it is in the hands of the Lazarus group. As per Ethereum news, the Lazarus group is a notorious North Korean hacking collective. DTX Exchange: Decentralized, Dynamic and Disruptive In light of the recent Bybit hack, it is evident that the future lies with decentralized exchanges. Since conventional financial instruments have a substantially more significant market size than crypto assets, traditional assets must find their space on decentralized exchanges. You cannot match the security, immutability, and reliability of DeFI, which is why DTX Exchange’s use case has massive growth potential. DTX Exchange will ensure that the fragmented financial world can work together by merging centralized and decentralized trade. Of course, a world-class use case with solid fundamentals means that DTX is also a top investment choice. Its token will be listed at double its current price, and there is no other crypto asset that is guaranteeing these sort of returns. With legacy altcoins like Binance (BNB) and Ethereum struggling in this bear market, DTX Exchange is gaining traction as the best altcoin out there. Additionally, what makes the proposition even better for investors is that DTX is offering a minimum 200% gains for participants in the current final round. This means that tokens bought at $0.18 will list at $0.36 and if projections follow, it would not be surprising to see prices hit $10. To know more about the DTX Exchange ecosystem, Check out: Visit Website Buy Presale Join Community Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
