Security Exploit

Ether experienced a significant drop, plummeting 9% to $3,600 following a multimillion-dollar exploit on Ethereum-based Balancer, a DeFi protocol. The hack, potentially exceeding $100 million in losses, exacerbated existing market anxieties fueled by geopolitical tensions, macroeconomic concerns, and Federal Reserve policy signals. This correction, while causing a downturn in companies like Coinbase and MicroStrategy, may reduce excessive speculation and leverage, potentially creating a more sustainable foundation for future growth.