Summary:

Leading crypto exchange Bybit was hacked, resulting in the theft of approximately $1.5 billion worth of Ethereum. However, crypto analysis platform Matrixport believes that this hack could have a positive impact on the ETH price. They suggest that there will be little selling pressure on Ethereum due to stolen funds historically not being sold immediately. Moreover, there is currently a demand for 500,000 ETH, but only about 100,000 ETH has been purchased so far, leading to a supply-demand imbalance that could potentially increase the price of ETH. Bybit CEO Ben Zhou announced that the exchange has fully replenished the stolen Ethereum.



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