Spot Bitcoin ETFs recorded $996 million in inflows last week, marking a third consecutive week of positive flows while other crypto ETFs also saw inflows.
A major hack that indirectly affected the DeFi ecosystem caused significant market concern.
Attackers validated fake transactions to borrow large amounts of ETH and executed this through Aave.
Following the roughly $300 million attack, Aave’s price dropped sharply.
The fear triggered by the incident created a domino effect, leading to panic selling across multiple protocols.
Heavy withdrawal demands nearly drained liquidity from several protocols.
Experts warn that if losses are not covered, the reputational damage could set DeFi back by several years.
The attack is suspected to be linked to North Korean groups.
Bitcoin is trading at $74,841 and Ethereum at $2,287.
The Fear and Greed Index stands at 52, indicating a neutral market sentiment.
