#ethereum is heavily undervalued.

Ethereum Transaction Costs Drop To 4-Year Lows

The 7-day moving average of transaction fees on the
#ethereum network dropped to $0.94 on February 20, reaching its lowest level in more than four years.

Additionally, the median gas price fell to historical lows last seen in 2020, hitting 1.39 Gwei yesterday.

Ethereum Lost 3.23% to $2640.39

- Lowest 5 p.m. level since Feb. 11, 2025, when it traded at $2621.43
- Snaps a two-day winning streak
- Down 20.37% month-to-date
- Down 21.06% year-to-date
- Down 44.99% from its all-time high of $4800.00 on Nov. 9, 2021 (based on 5 p.m. levels)
- Down 10.27% from 52 weeks ago (Feb. 23, 2024), when it traded at $2942.65
- Down 34.81% from its 52-week high of $4050.30 on Dec. 16, 2024 (based on 5 p.m. levels)
- Up 21.70% from its 52-week low of $2169.66 on Sept. 6, 2024 (based on 5 p.m. levels)
- Traded as low as $2617.50
- Down 4.07% at today's intraday low

🚨 BREAKING 🚨

BYBIT FOUNDER SAYS EVEN IF THIS
$1.46 BILLION HACK IS LOST, BYBIT
IS SOLVENT.

🚨 RUMOR 🚨

BYBIT WILL BUY $1.5 BILLION WORTH
OF $ETH TO COVER HACK LOSS.

BREAKING 💥 Crypto exchange Bybit confirms hack as over $1.4 billion worth of ETH leaves wallets

Bybit, the Singapore-based centralized crypto exchange, appears to have been hacked. Early estimates suggest the exchange has lost over $1 billion worth of ETH and significant quantities of other tokens, though the investigation is ongoing.

"Bybit ETH multisig cold wallet just made a transfer to our warm wallet about 1 hr ago. It appears that this specific transaction was musked, all the signers saw the musked UI which showed the correct address and the URL was from Safe. However the signing message was to change the smart contract logic of our ETH cold wallet,"

Bybit co-founder and CEO Ben Zhou posted to X. "This resulted Hacker took control of the specific ETH cold wallet we signed and transferred all ETH in the cold wallet to this unidentified address. Please rest assured that all other cold wallets are secure. All withdraws are NORMAL."

On Tuesday, the exchange announced it would be performing scheduled maintenance on its live server today stretching into tomorrow, which caused controversy as security researchers looked into the suspicious transactions.

The attacker then moved the majority of the funds to a second address, 0xa4b2, which swaps funds using decentralized exchanges, including Uniswap, Paraswap, and KyberSwap.

ByBit says its other hot and cold wallets are unaffected, and only their ETH wallets were impacted. "Bybit is Solvent even if this hack loss is not recovered, all of client assets are 1 to 1 backed, we can cover the loss," Zhou also post

Ethereum Holds Key Support – Analyst Doubts Bears Can Defend $4K Anymore

Ethereum has been attempting to reclaim the $2,800 level for days, but bears continue to apply selling pressure, keeping the price below this key resistance. Despite this, demand remains strong, with bulls successfully holding ETH above the crucial $2,600 support level. The short-term outlook for ETH remains uncertain, as investors speculate on whether the current consolidation phase will lead to a breakout or further declines.

Despite this, there is a growing sentiment that Ethereum could soon recover. Top analyst Jelle shared a technical analysis on X, revealing that ETH recently took out the lows, retested the key trendline, bounced off key support, and held above the 200-week exponential moving average (EMA). According to Jelle, this confirms that the uptrend structure remains intact, suggesting that ETH still has bullish potential.

While price action remains sluggish, Jelle’s analysis highlights that Ethereum is still holding critical levels, which could lead to a strong move upward. If ETH reclaims $2,800 in the coming days, momentum could build toward a push above $3,000. However, if selling pressure continues and ETH loses $2,600, a deeper retrace could be expected. For now, patience is key as Ethereum hovers near crucial technical levels.