- Bitcoin’s The coin’s market valuation has also been impacted, plunging as low as $1.83 trillion on February 3
- Ethereum has seen a worse outing, with the price crashing by 17.50% in the past week
- XRP’s market capitalization also suffered, crashing down to $116.21 billion on February 3 from $180.93 billion on January 31
The past week has been bearish for most coins in the crypto market, including the largest and most influential coin, Bitcoin. The market has witnessed intense sell-offs and bleeding, leading to price crashes and market valuation loss.
Bitcoin and market-leading altcoins like Ethereum, Solana, XRP and SUI have all been impacted. In the past 7 days, Bitcoin has crashed by over 8.5%, trading at $96,702 at the time of writing. The coin’s market valuation has also been impacted, plunging as low as $1.83 trillion on February 3. At press time, the valuation stood at $1.91 trillion, while the trading volume in the past day had plunged by 18.66% to $47.68 billion.
On the other hand, Ethereum has seen a worse outing, with the price crashing by 17.50% in the past week. At the time of writing, it was trading at $2,705, down 2.37% in the past day. The market valuation of the coin has also plunged, falling to as low as $297.90 billion in the early hours of February 3 from $413.33 billion on January 31. At the time of writing, the coin’s market valuation was $327.36 billion, down 2.29% in the past day, while its trade volume has crashed by 19.81% to $29.88 billion.
Another market-leading altcoin that suffered major setbacks in the past week is Ripple’s XRP. The troubled coin lost 25.45% of its trading price in the last 7 days. At the time of writing, it was $2.32, down 5.79% in the past day. The coin's market capitalization also suffered, crashing down to $116.21 billion on February 3 from $180.93 billion on the last day of last month. Though recovered from this plunge, it has yet to reach the January 31 high. It was at $133.96 billion at press time, down 4.56% in the past day.
Solana was also affected. Its trading price plunged 21.33% in the past seven days and is now at $190.38, down 4.55% in the past 24 hours. Its market cap also crashed to $89.38 billion on February 3 from $117.43 billion on January 31. At the time of writing, it was $92.98 billion, down 3.98% in the past day.
The new kid on the block, SUI, also suffered. The trading price crashed, down 22.70% in the past 7 days. The market cap also plunged to $8.34 billion on February 3 from $12.75 billion on the last day of January. At the time of writing, the coin was trading at $3.21, down 5.35% in the last day, while the market cap was $9.89 billion, down 5.34% in the past day.
Telegram selects Toncoin as only crypto, blockchain network for app services
Meanwhile, TheRadar earlier reported that The popular messaging app Telegram has announced that henceforth, The Open Network (TON–Toncoin) will become the only blockchain infrastructure for its Mini App ecosystem.
According to a statement Telegram released on January 21, 2025, Telegram and the TON Foundation have reached an exclusive deal, which will see Toncoin become the only accepted crypto for Telegram’s app services. According to the release, Telegram will continue to accept Toncoin for non-fiat payments in exchange for assets and services offered by Telegram.
