Ether started out 2021 strong, but Ether’s value recently dropped by twenty-five percent. When the Securities and Exchange Commission announced a pending lawsuit against Ripple Labs, Ether’s value benefited substantially. Bitcoin, Ether, and Dogecoin are among the several cryptocurrencies to profit from Ripple Labs’ legal situation. Even with a billion-dollar lawsuit in play, XRP prices have rallied up crypto trading platforms. On February 18th, Ether took massive market losses, with Bitcoin following closely behind. Bitcoin and Ethereum have since bounced back from market losses, thanks to the crypto market’s flexibility. In other regulated financial platforms, Ethereum couldn’t ping up and down crypto charts.
Ethereum infrastructure has reportedly been compromised by trading bots partaking in Miner Extracted Value strategies. Since 2021 began, trading bots have extracted more than one million dollars of Ether. Ether’s market activity has plummeted, even though Ether is the second-largest cryptocurrency in operation. Kraken reported flash crashing activity on Monday, February 22nd, but Ethereum has since gained traction to prevent further crashes.