Skip to content Skip to sidebar Skip to footer

Cryptocurrency Market Update: Major Price Fluctuations and Liquidations on February

On February 3, 2025, the cryptocurrency market saw significant shifts, with price fluctuations in dominance and trading activity being the day’s highlights. The market cap for cryptocurrency surpassed the $3.09 trillion mark, a staggering leap from its $319.96 billion trading volume, with 32,274 digital coins in circulation.

Bitcoin ($BTC) upheld its leadership position in the cryptocurrency market, with its price value standing strong at $95,024, thereby controlling 61.0% of the total market dominance. Ethereum ($ETH) was not far behind, maintaining a market price of $2,550 and securing a market dominance of 10.0%.

These two prominent assets have continued to draw significant attention from liquidity and investor groups alike. The Decentralized Finance (DeFi) sector has held its ground, with $147.69 billion worth of assets locked. The Ethereum ($ETH) network fees sit at a comfortable 10 GWEI, providing a conducive environment for ecosystem users conducting transactions.

However, it wasn’t just Bitcoin and Ethereum that caught the market’s eye. Several cryptocurrencies saw noticeable price fluctuations in the past day. Key performers included $KAS, which recorded a 66.53% price bounce, and $XDC, which enjoyed a 43.74% price surge. Other notable increases were seen in $OP, which shot up by 35.72%, and $DOGE, which rose by 35.67%. $ADA also experienced a modest increase of 35.67% and a 34.29% price surge, showcasing the market’s diverse trends.

Despite the positive price movements, the derivatives market witnessed extensive asset liquidations over the past 24 hours. Ethereum was at the forefront with the highest $612.26 million in derivatives liquidations, followed by Bitcoin, which accounted for $411.30 million. Ripple ($XRP) saw $121.50 million in liquidation, while both Solana ($SOL) and Dogecoin ($DOGE) suffered significant losses. They witnessed $85.95 million and $90.41 million in liquidations, respectively.

As of now, the Fear and Greed Index stands at 40, indicating a “Fear” sentiment. Market participants remain cautious, as they must navigate the recent price movements alongside the general market factors. However, the crypto market’s resilience and adaptability have always been its strengths. Market participants will be closely watching these trends and price fluctuations as they strategize their next moves in this ever-evolving digital asset landscape.