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Bitcoin Drops Below $40K
- 🐻 Bitcoin declines. The BTC price dipped to $39K on Tuesday, falling below the significant $40K barrier and reaching prices not seen since early December.
- 🔌 Socket recovers 2/3 of exploit funds. Interoperability protocol Socket was hacked for $3.3 million last week, but said Tuesday that it has recovered more than two-thirds of the funds lost (some 1,032 ETH).
- 🍰 ETH L2 startup scores funding. Polymer Labs raised $23M in funding from Blockchain Capital &
Coinbase Ventures to build out its "interoperability-as-a-service" for 
Ethereum and other rollups.
📊 Capturing value. UMA has gone meteoric over the past five days, gaining 190% off its Oval announcement last Thursday. Why has the UMA token been rapidly repriced?
| Prices as of 3pm ET | 24hr | 7d |
|
Crypto $1.53T | ↘ 3.4% | ↘ 10.0% |
|
BTC $39,303 | ↘ 2.5% | ↘ 9.1% |
|
ETH $2,193 | ↘ 6.6% | ↘ 15.1% |
A shift in the sails of crypto has seemingly made Ethereum a contrarian bet in recent months.
But there's never been a better time to be bullish on ETH. The Dencun upgrade is imminent and will be a game-changer, driving the network closer to an immensely scalable future. Rollups, validators, and the network’s overall security will all receive upgrades — significantly strengthening Ethereum’s overall operational landscape.
Read about Dencun's biggest upgrades👇
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