Ethereum falls below $3,600 after DeFi protocol hack triggers sharp sell-off

Ethereum fell below $3,600 after a DeFi hack fueled a sharp sell-off, although long-term holders remained steady based on on-chain data.

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Ethereum falls below $3,600 after DeFi protocol hack triggers sharp sell-off

Ethereum falls below $3,600 after DeFi protocol hack triggers sharp sell-off
Ethereum dropped below $3,600 following a major DeFi protocol hack that triggered a rapid unwinding of leveraged positions across exchanges. Traders said heightened uncertainty around smart-contract vulnerabilities contributed to the sudden sell-off, although long-term holders remained largely unchanged based on on-chain data. Market analysts noted that security lapses remain a key structural challenge for decentralized finance platforms. Despite the drop, core network activity remained steady, signaling that broader ecosystem fundamentals are intact.