{"id":2065,"date":"2025-11-03T21:57:56","date_gmt":"2025-11-03T21:57:56","guid":{"rendered":"https:\/\/finzexpert.com\/blog\/ether-falls-7-following-a-multimillion-dollar-hack-of-a-decentralized-finance-protocol\/"},"modified":"2025-11-03T21:57:56","modified_gmt":"2025-11-03T21:57:56","slug":"ether-falls-7-following-a-multimillion-dollar-hack-of-a-decentralized-finance-protocol","status":"publish","type":"post","link":"https:\/\/finzexpert.com\/blog\/ether-falls-7-following-a-multimillion-dollar-hack-of-a-decentralized-finance-protocol\/","title":{"rendered":"Ether falls 7% following a multimillion dollar hack of a decentralized finance protocol"},"content":{"rendered":"\n<div id=\"SpecialReportArticle-ArticleBody-6\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"SpecialReportArticle-articleBody-6-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107419572\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>Representation of Ethereum, with its native cryptocurrency ether.<\/p>\n<p>Dado Ruvic | Reuters<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"SpecialReportArticle-QuoteInBody-1\">Ether<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> fell as much as 9% on Monday, slipping below its critical $3,600 support level, shortly after a multimillion dollar hack affected a protocol on the token&#8217;s native network.\u00a0<\/p>\n<p>The cryptocurrency, which is issued on Ethereum, was last down 6.6% at around $3,600, CoinMetrics data shows. That&#8217;s roughly 25% off its high of $4,885 hit on August 22.\u00a0<\/p>\n<p>The coin&#8217;s tumble came after Ethereum-based decentralized finance protocol Balancer on Monday lost possibly more than $100 million in a hack. The exploit marks the latest in a series of bearish events that have put digital assets investors on tenterhooks over the past few weeks.<\/p>\n<p>In mid-October, U.S. President Donald Trump announced &#8220;massive&#8221; tariffs on China over its restriction of rare earth exports, kicking off investors&#8217; flight from crypto to risk-off assets such as gold. And although the president later walked back that threat, his comments sparked a sell-off that triggered cascading liquidations of highly leveraged digital asset positions.\u00a0<\/p>\n<p>Last week, Federal Reserve Chair Jerome Powell cautioned investors about expecting future rate cuts, adding to existing bearish market sentiment.\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n<p>&#8220;These events have put investors on uneasy footing as we roll into November,&#8221; Juan Leon, senior investment strategist at Bitwise, told CNBC. &#8220;Macro volatility notwithstanding, this October&#8217;s drawdown appears to have been a healthy, albeit sharp, de-leveraging event that flushed speculative excess from the market.&#8221;<\/p>\n<p>Some stocks linked to digital assets are also coming under pressure. <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"SpecialReportArticle-QuoteInBody-6\">Coinbase<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> shares were down nearly 4%, while Bitcoin treasury firm <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"SpecialReportArticle-QuoteInBody-7\">Strategy<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> edged down more than 1%.\u00a0\u00a0\u00a0<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Representation of Ethereum, with its native cryptocurrency ether. Dado Ruvic | Reuters Ether fell as much as 9% on Monday, slipping below its critical $3,600 support level, shortly after a multimillion dollar hack affected a protocol on the token&#8217;s native network.\u00a0 The cryptocurrency, which is issued on Ethereum, was last down 6.6% at around $3,600, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2066,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[2066,1676,2063,1677,239,2065,2064,2067],"class_list":["post-2065","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan","tag-decentralized","tag-dollar","tag-ether","tag-falls","tag-finance","tag-hack","tag-multimillion","tag-protocol"],"_links":{"self":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/posts\/2065","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/comments?post=2065"}],"version-history":[{"count":0,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/posts\/2065\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/media\/2066"}],"wp:attachment":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/media?parent=2065"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/categories?post=2065"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/tags?post=2065"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}