tokenization

**Crypto Market Crash: Understanding Today's Downturn**

Today, the cryptocurrency market experienced a significant downturn, with major cryptocurrencies like Bitcoin and Ethereum seeing price drops. This crash was largely triggered by a major security breach at the Bybit exchange, resulting in the theft of $1.4 billion worth of Ethereum-related tokens[1]. Here's a breakdown of the situation:

### Key Factors Behind the Crash

1. **Bybit Hack**: The theft of Ethereum-related tokens, including Lido Staked Ether (STETH) and Mantle Staked Ether (mETH), led to a wave of liquidations across the crypto sector. This event caused widespread uncertainty and triggered a broad market decline[1].

2. **Market Volatility**: The crypto market is inherently volatile, and events like the Bybit hack exacerbate this volatility. High leverage and overbought conditions can quickly turn into a cascade of sell-offs[3][5].