{"id":48315,"date":"2025-02-28T14:15:43","date_gmt":"2025-02-28T14:15:43","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/unity-wallet-coo-three-factors-are-affecting-crypto-market-prices\/"},"modified":"2025-02-28T14:15:43","modified_gmt":"2025-02-28T14:15:43","slug":"unity-wallet-coo-three-factors-are-affecting-crypto-market-prices","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/unity-wallet-coo-three-factors-are-affecting-crypto-market-prices\/","title":{"rendered":"Unity Wallet COO: three factors are affecting crypto market prices"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"-mt-16  mb-8  lg:-mt-20  rounded-md  shadow-md\">\n<div class=\"relative  z-10  post-article-image  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/arrows-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/arrows-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/arrows-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/arrows-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                            <\/div>\n<\/p><\/div>\n<ul>\n<li aria-level=\"1\">The Bybit hack has increased fears over centralized exchange security vulnerabilities<\/li>\n<li aria-level=\"1\">US President Donald Trump\u2019s trade tariffs are increasing market uncertainty<\/li>\n<li aria-level=\"1\">Trump\u2019s crypto promises may have started as being great, but they could end up proving catastrophic<\/li>\n<\/ul>\n<p>Three things are contributing to the drop in crypto prices, which has seen Bitcoin fall 7.50% over 24 hours to $78,000, according to Unity Wallet\u2019s COO.<\/p>\n<figure id=\"attachment_276220\" aria-describedby=\"caption-attachment-276220\" class=\"wp-caption alignnone\"><img loading=\"lazy\" fetchpriority=\"high\" decoding=\"async\" data-source=\"CoinJournal\" class=\"wp-image-276220 size-full\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2025\/02\/Bitcoin-78000.jpg\" alt=\"\" width=\"1413\" height=\"810\"\/><figcaption id=\"caption-attachment-276220\" class=\"wp-caption-text\">BTC price at $78,000. Source: <a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\" target=\"_blank\" rel=\"noopener\">CoinMarketCap<\/a><\/figcaption><\/figure>\n<p>It\u2019s a significant drop from <a href=\"https:\/\/coinjournal.net\/search\/Bitcoin\">Bitcoin\u2019s<\/a> all-time high, which reached <a href=\"https:\/\/coinjournal.net\/news\/bitcoin-hits-109000-ahead-of-president-elect-donald-trumps-inauguration\/\">$109,000 in January<\/a> ahead of US President <a href=\"https:\/\/coinjournal.net\/search\/Donald+Trump\">Donald Trump\u2019s<\/a> inauguration.<\/p>\n<p>According to James Toledano, it feels like optimism around the crypto market post-election created a bubble and that the \u201creality post-inauguration is now setting in \u2013 and hard,\u201d he said to CoinJournal.<\/p>\n<p>In Toledano\u2019s view, the <a href=\"https:\/\/coinjournal.net\/search\/Bybit\">Bybit<\/a> hack at the crypto exchange last Friday\u2014which resulted in the theft of nearly <a href=\"https:\/\/coinjournal.net\/news\/bybit-suffers-1-4-billion-hack-eth-drained-from-exchange-wallet\/\">$1.5 billion worth of Ethereum<\/a>\u2014is one of the contributing factors affecting crypto prices.<\/p>\n<p>Undermining investor confidence, it has led to panic withdrawals and a market-wide selloff across the board. While Bybit\u2019s CEO, Ben Zhou, quickly responded to the hack, the situation has increased \u201cfears about centralized exchange security vulnerabilities\u2014which only solidifies the case for self-custodial services,\u201d Toledano continued.<\/p>\n<p>Dom Harz, co-founder of BOB (\u201cBuild on Bitcoin\u201d), a hybrid Layer-2, said to CoinJournal the theft at Bybit is a \u201cstark reminder of the industry\u2019s fundamental issues,\u201d adding:<\/p>\n<p>\u201cWe\u2019ve been hypnotized by price spikes, memecoin frenzies, and media spectacles, forgetting that crypto was meant to be a new financial system\u2014one built on decentralized protocols that make finance accessible to everyone. Bybit just gave us a $1.5 billion reminder that we are nowhere near that reality.\u201d<\/p>\n<h2>Trump\u2019s tariffs<\/h2>\n<p>The continued market selloff follows Trump\u2019s trade tariff announcement earlier this week.<\/p>\n<p>During his election campaign, the US president made promises regarding crypto, stating that America will be the \u201c<a href=\"https:\/\/coinjournal.net\/news\/donald-trump-unveils-plan-to-make-usa-the-crypto-capital-of-the-planet\/\">crypto capital of the planet<\/a>.\u201d<\/p>\n<p>Since entering the White House, he has appointed pro-crypto individuals to reshape government agencies, namely Paul Akins as the <a href=\"https:\/\/coinjournal.net\/news\/donald-trump-selects-pro-crypto-paul-atkins-to-be-the-next-us-sec-chair\/\">incoming chair of the US Securities and Exchange Commission<\/a> (SEC).<\/p>\n<p>Mark Uyeda is currently <a href=\"https:\/\/coinjournal.net\/news\/acting-sec-chair-uyeda-announces-new-crypto-task-force\/\">acting chair of the SEC<\/a>.<\/p>\n<p>Trump also signed an executive order to establish a <a href=\"https:\/\/coinjournal.net\/news\/donald-trump-signs-executive-order-for-crypto-working-group-to-provide-regulatory-clarity\/\">crypto working group<\/a> to provide regulatory clarity. It\u2019s also expected that the working group will look into the potential of a national crypto stockpile.<\/p>\n<p>Yet, despite these steps, Trump\u2019s trade wars\u2014which could soon hit the EU, the world\u2019s largest trading bloc, with a 25% tariff\u2014is increasing market uncertainty.<\/p>\n<p>According to Toledano, Trump\u2019s tariffs are \u201charming the global economy\u201d and that many in the crypto space feel let down by the US president.<\/p>\n<p>\u201cThe promise was great and the reality is potentially proving to be catastrophic,\u201d he added. \u201cIt does make me wonder if Trump understands that financial verticals are interlinked and increasingly converging.\u201d<\/p>\n<h2>Biggest economic risk<\/h2>\n<p>The third contributing factor affecting market prices\u2014according to Toledano\u2014are questions around the overall governance of the US.<\/p>\n<p>An article by <a href=\"https:\/\/www.chathamhouse.org\/2025\/01\/biggest-economic-risk-donald-trumps-presidency-loss-confidence-us-governance\" target=\"_blank\" rel=\"noopener\">Chatham House<\/a> suggests that the biggest economic risk from Trump\u2019s presidency is a loss of confidence in US governance. It reads that while Trump\u2019s policies may seem mild in the short term, steps that undermine the US and its international allies could have lasting effects.<\/p>\n<p>\u201cI rarely get spooked from the peaks and troughs that crypto presents but when I combine what\u2019s happening with traditional equities volatility, I think there is cause for concern right now,\u201d said Toledano.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/unity-wallet-coo-three-factors-are-affecting-crypto-market-prices\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) The Bybit hack has increased fears over centralized exchange security vulnerabilities US President Donald Trump\u2019s trade tariffs are increasing market uncertainty Trump\u2019s crypto promises may have started as being great, but they could end up proving catastrophic Three things are contributing [&hellip;]<\/p>\n","protected":false},"author":3947362367,"featured_media":48316,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/48315"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362367"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=48315"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/48315\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/48316"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=48315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=48315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=48315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}