On March 2, 2025, at 3 PM, hackers resumed laundering activities, managing to launder 62,200 ETH, equivalent to $138 million, within a short period (EmberCN, Twitter, March 2, 2025). The initial hack on Bybit resulted in the theft of 499,000 ETH, and as of the latest report, only 156,000 ETH, valued at $346 million, remains to be laundered (EmberCN, Twitter, March 2, 2025). Analysts estimate that within three days, all of the stolen funds will be laundered, signaling a significant event in the crypto market. The laundering activities have directly impacted the price of ETH, with a notable dip of 2.3% to $2,215 at 3:15 PM on March 2, 2025, before recovering to $2,240 by 4:00 PM (CoinMarketCap, March 2, 2025). This incident underscores the vulnerability of centralized exchanges and the importance of robust security measures in the crypto ecosystem.

The immediate trading implications of the hack and subsequent laundering have led to increased volatility in the ETH market. Trading volumes surged by 45% within the first hour of the news breaking, with a peak volume of 1.2 million ETH traded on decentralized exchanges (DEXs) at 3:30 PM on March 2, 2025 (DEXTools, March 2, 2025). This surge indicates a shift in trader sentiment towards DEXs, possibly due to perceived safety concerns with centralized platforms. Additionally, the ETH/BTC trading pair saw a significant increase in volume, with 55,000 ETH traded against BTC within the same timeframe, suggesting a move towards more stable assets during this period of uncertainty (Binance, March 2, 2025). The impact on other trading pairs, such as ETH/USDT, was less pronounced, with a modest 10% increase in trading volume to 800,000 ETH at 4:00 PM (Coinbase, March 2, 2025). This disparity in trading volume across pairs highlights the varied market responses to the laundering event.

Technical indicators and on-chain metrics provide further insight into the market's reaction to the laundering activities. The Relative Strength Index (RSI) for ETH dropped to 42 at 3:45 PM on March 2, 2025, indicating a move towards oversold conditions (TradingView, March 2, 2025). This was accompanied by a spike in the number of active addresses on the Ethereum network, with a 20% increase to 1.1 million active addresses at 4:00 PM (Etherscan, March 2, 2025). The increase in active addresses suggests heightened interest and possibly panic trading among investors. Additionally, the Ethereum network's gas fees surged by 30% to an average of 50 Gwei at 3:50 PM, reflecting increased transaction activity and demand for block space during the laundering event (EthGasStation, March 2, 2025). These technical indicators and on-chain metrics collectively paint a picture of a market reacting to a significant external shock.

Regarding AI developments, the laundering event has not directly impacted AI-related tokens such as SingularityNET (AGIX) or Fetch.AI (FET). However, the overall market sentiment influenced by the hack could indirectly affect these tokens. For instance, AGIX experienced a 1.5% drop in price to $0.35 at 3:30 PM on March 2, 2025, mirroring the broader market's reaction (CoinGecko, March 2, 2025). The correlation coefficient between ETH and AGIX over the past 24 hours was 0.75, indicating a strong positive correlation (CryptoCompare, March 2, 2025). This suggests that any further volatility in ETH could lead to similar movements in AI tokens. Traders might find opportunities in AI/crypto crossover by monitoring these correlations and adjusting their portfolios accordingly. Additionally, AI-driven trading algorithms have shown a 15% increase in trading volume for ETH-related assets since the laundering event began, indicating a shift towards more automated trading strategies (Kaiko, March 2, 2025).