The cryptocurrency market fell 3.6% over the past 24 hours, with a total market capitalization of $3.3 trillion. Major altcoins, including Ethereum, XRP and Solana, showed resilience despite modest declines.
That resilience has lifted investor sentiment, especially after the recent $1.4 billion hack of Bybit — the largest cyber heist in cryptocurrency history.
As traders assess the fallout, one project drawing attention is iDEGEN (IDGN). The AI agent token has raised approximately $24 million in its ongoing presale. So what’s making it popular?
According to the iDEGEN presale page, the project plans to list on exchanges on February 27, 2025.
Industry praises Bybit’s response after $1.4 billion hack
On February 21, Bybit confirmed it had been the victim of the largest hack in crypto history. Within hours, crypto investigator ZachXBT provided details pointing to the identity of the attackers.
The investigator linked the theft of 401,000 ETH — worth more than $1.4 billion — to the Lazarus Group, a hacking collective reportedly backed by North Korea. Lazarus has been connected to multiple high-profile attacks, including the Phemex breach.
This $1.4 billion theft stands out as the single largest incident, representing roughly 16% of all reported crypto hacks — a striking figure. Despite initial panic and an outflow of funds from Bybit, the exchange received credit for how it managed the aftermath of the attack.
Bybit processes withdrawals
Bybit CEO Ben Zhou personally led official communications and updates, and the exchange’s handling of the situation has been viewed more favorably than many previous breaches in the industry.
Bybit has repeatedly stated it remains solvent and able to process customer withdrawals, asserting client assets are backed 1:1.
Industry players and rival exchanges also mobilized to support Bybit. In an update, the CEO said bridge loans and coordinated support helped the exchange raise amounts equivalent to 80% of the stolen funds. Bitget reportedly contributed 40,000 ETH, worth over $105 million, as part of the assistance.
With recovery efforts underway, investor sentiment has grown cautiously optimistic. Many expect 2025 to remain a bullish year for crypto, and believe the coming months could be important for the market.
iDEGEN raises $24 million ahead of February 27 listing
iDEGEN and its native token IDGN are positioned in the hot market for AI agents. The segment has gained steam amid the broader convergence of crypto and AI, attracting both meme-token culture and speculative interest.
iDEGEN is now just days away from its market debut.
5 days. That’s all that’s left before $IDGN officially enters the wild.
The question is, are you holding or are you jeeting yourself out of financial freedom.
Choose wisely.
$IDGN➡️https://t.co/zKGGUjqevM pic.twitter.com/NlupDvwuHF
— iDEGEN UPDATES (@iDEGEN_Updates) February 22, 2025
As projects such as Virtuals Protocol and ai16z make inroads amid rising market interest, rivals with distinct models are attracting investor appetite. iDEGEN’s approach hands a blank-slate AI agent to the degens — minimal guardrails, few constraints, and unfiltered community-driven input primarily on X, Telegram and TikTok.
The result is a sizable community and roughly $24 million raised as the project moves toward dominating the AI-agent token niche. iDEGEN’s presale concludes on February 26, and the IDGN token is scheduled to appear on initial exchanges on February 27.
iDEGEN has announced a listing on the BitMart exchange, one of the larger centralized platforms, with BitMart set to list IDGN on March 4, 2025.
Currently, IDGN is priced at $0.0345 during the presale. In the final presale stage the price rises to $0.038. If positive post-listing momentum combines with favorable crypto market catalysts, the token’s value could see significant gains.
For more information, visit the project’s official site.