Altcoin
Here’s Why Crypto Market Faces $325 Bln Loss
The crypto market is in turmoil, with its total market cap plunging by $325 billion since last Friday. Bitcoin’s price took a sharp 8% hit, dropping to the $87,000 mark. Leading altcoins like Ethereum, XRP, and Solana saw losses exceeding 12%.
So, here we take a quick look at the potential reasons that may have dampened the investors’ sentiment.
Why Is Crypto Market Falling?
A flurry of factors might have contributed to the recent crypto market collapse. A combination of liquidity issues, macroeconomic trends, and technical sell-offs appears to be behind the latest downturn.
According to The Kobeissi Letter, a leading global capital markets commentary platform, crypto markets erased $100 billion in just one hour today without any major headlines. The platform pointed out that around $150 billion in liquidations occurred in 24 hours, dragging almost all cryptocurrencies down.
Even the meme coin sector, which had been booming, saw a steep decline. Notably, CoinGlass data showed that $1.49 billion has been liquidated in the last 24 hours amid the broader digital assets market crash. As of writing, the global crypto market cap stood at $2.9 trillion.
Solana’s Downfall Triggered Selling Pressure
Solana was one of the key players in the recent crypto frenzy, especially with meme coins driving its rapid surge. However, as memecoin hype started fading, Solana price suffered a drop of around 20% in a week. Initially, this decline remained isolated from Bitcoin, but it later spread across the market.
Adding to the market-wide sell-off, the S&P 500 also began losing ground on Friday. Bitcoin, often correlated with broader financial markets, followed suit. Once Bitcoin broke below the $98,000 support level, panic selling intensified. As of writing, BTC price was down about 8% and hovered near the $87K mark.
Citadel’s Crypto Pivot and the Bybit Hack Impact
Interestingly, the sharp decline came just hours after a report that the $65 billion financial giant Citadel Securities is exploring the crypto space as a liquidity provider. However, instead of boosting market sentiment, the news triggered a “sell-the-news” reaction.
Another major blow came from the Bybit hack, which cybersecurity firm Arkham Intelligence described as the “largest financial heist in history.” The hack exceeded $1 billion in stolen assets, more than doubling the infamous $611 million PolyNetwork breach in 2021. Such security incidents erode investor confidence, leading to more panic-driven exits from the market.
Crypto Market Pullback: Normal Correction or Bull Run End?
Ethereum’s weakness has added more strain to the broader crypto market. The recent wave of selling appears to be a mix of technical pullbacks and declining liquidity. However, analysts suggest that such corrections are part of a healthy market cycle.
For context, in a recent X post, popular market expert “il Capo Of Crypto” hints at a “strong bounce” in the market. These comments indicate that despite the short-term selloff, the crypto market is likely to witness a strong comeback in the coming days.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Polkadot’s (DOT) price has recovered despite the recent crypto market crash after Nasdaq filed a request with the U.S. Securities and Exchange Commission (SEC) to list and trade shares of the Grayscale Polkadot ETF.
This move follows similar filings for other altcoins, including XRP and Cardano. Analyst are now speculating on the potential price movement of DOT, with some anticipating a rise to $34 if the Polkadot ETF gains approval.
Nasdaq Seeks SEC Approval for Grayscale Polkadot ETF
According to a recent filing, Nasdaq has submitted Form 19b-4 to the SEC to list and trade shares of the Grayscale Polkadot Trust (DOT). This filing marks the latest step in expanding cryptocurrency-based investment products on traditional exchanges.
Grayscale Investments, the firm behind the ETF, aims to offer investors regulated exposure to Polkadot’s native token. The US SEC now has a 45-day review period to acknowledge the filing, after which it can approve, deny, or extend the review process.
Grayscale’s filing follows a similar request from 21Shares, which submitted an application for a spot Polkadot ETF late last month. Following the Polkadot ETF filing, DOT price saw a brief 4% increase before declining 6% in the last 24 hours, trading at $4.4.
Polkadot ETF Part of Grayscale’s Broader Crypto Strategy
Grayscale has been increasing its ETF offerings as regulatory sentiment toward cryptocurrencies evolves. Along with the Polkadot ETF, the company has recently applied to convert its XRP Trust into an ETF and filed for a spot Cardano ETF, which has been acknowledged. Other potential products tied to digital assets such as Solana (SOL), Dogecoin (DOGE), and Litecoin (LTC) are also being considered.
These filings come as the US SEC, under the Trump administration, has adopted a more open stance toward digital assets under the leadership of acting US SEC chair Mark Uyeda. The regulator recently dropped several crypto-related investigations, including cases against Robinhood, Coinbase and the NFT marketplace OpenSea. Consequently, market analysts believe this shift could improve the chances of approval for multiple spot crypto ETFs.
The Polkadot ETF filing is part of a broader trend of increasing institutional interest in cryptocurrency investment products. Recently, Tuttle Capital Management proposed a leveraged 2x Polkadot ETF but later withdrew its filings for all leveraged crypto ETFs.
James Seyffart, an ETF analyst at Bloomberg, commented on the growing number of crypto ETF applications, stating,
“Altcoin ETFs are coming.” More filings for XRP and Litecoin ETFs are expected in the coming days.
Will Polkadot Price Rally To $34?
Despite the recent pullback, market analysts believe that DOT’s price could see a substantial upside if key resistance levels are broken.
The first major resistance level stands at $6, which must be cleared for strong upward momentum to develop. If DOT breaks above this level, it could gain strength and move toward the next significant resistance point at $11.
This level has already been tested twice but rejected, making it a critical threshold for further price action. A successful breakout above $11 would indicate a strong bullish trend, potentially clearing the path toward $34 with minimal resistance.
According to the analyst, if the Polkadot price experiences a slow and steady decline, it may continue searching for a strong bottom before a potential rebound. However, in the event of a sharp and rapid drop, a V-shaped recovery could take place, leading to an equally strong bounce for DOT price.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
As the US Securities and Exchange Commission (SEC) has scheduled its next closed-door meeting this Thursday, all eyes are on a potential XRP ETF approval. In addition, the SEC’s ongoing review of Grayscale Investment’s XRP ETF application has fueled anticipations of the product approval this week.
XRP ETF Approval Anticipation Grows: SEC Decision Looms
The US SEC has increasingly sparked optimism with repeated acknowledgments of XRP exchange-traded funds. While this move highlights the agency’s shifting regulatory stance to crypto, the community expects an imminent approval of XRP’s investment product.
In a recent development, the SEC scheduled its next closed-door meeting on February 27, 2025 (Thursday). Notably, the regulator has directly highlighted the inclusion of discussions surrounding XRP ETF in the meeting. In particular, the SEC emphasized Cboe’s proposal to list and trade the XRP fund, stating,
Cboe BZX Exchange, Inc. (“BZX” or “the Exchange”) is filing with the Securities and Exchange Commission a proposed rule change to list and trade shares of the Bitwise XRP ETF under BZX Rule 14.11 (e)(4), Commodity-Based Trust Shares.
Grayscale’s XRP ETF Under Review: What It Means?
Notably, Grayscale Investment filed to convert its $16 million XRP trust to an exchange-traded fund in January 2025. After becoming the first XRP ETF to be acknowledged by the SEC, it recently entered the SEC review list.
Recently, the US SEC published Grayscale’s XRP ETF filing on the Federal Register, sparking widespread optimism. With the move, the SEC has begun a 240-day review period to decide whether to approve or oppose the ETF launch. Thus, the SEC’s decision on Grayscale’s XRP ETF could be expected before October 18, 2025.
Driven by the regulator’s recent announcement, the community anticipates an early approval of Grayscale’s XRP fund. However, as the SEC hasn’t mentioned Grayscale in the closed-meeting agenda, it remains unclear if the commission would consider it on the day.
Will SEC Lawsuit Settlement Precede ETF Approval?
Interestingly, the excitement around potential ETF approval is paired with increasing speculation about a looming Ripple lawsuit settlement. While the settlement of Coinbase and Robinhood cases has sparked excitement about an early Ripple lawsuit settlement, experts predict a possible delay. MetaLawMan stated that it could find a conclusion before Ripple files its appellate brief on April 16, 2025. He cited the complexities surrounding the lawsuit as the major reason for the delay.
Meanwhile, legal expert Jeremy Hogan commented that the XRP lawsuit settlement is likely to occur before the SEC’s XRP ETF approval. His statement was based on the long procedures involved in the regulatory approval of the fund.
XRP Price Slumps Despite Increasing ETF Odds
Significantly, the XRP ETF approval odds on Polymarket surged to 80%, fueling market adoption. While XRP awaits to join Bitcoin and Ether as the latest SEC-approved exchange-traded fund, the token value plummets to a 23 day-low.
As of press time, XRP is trading at $2.21, marking a daily decline of around 10%. Over the last week and month, XRP has faced grave dips of 15.7% and 28.8%, respectively. Most importantly, XRP, which enjoyed the third spot on CoinMarketCap over the past weeks, has slipped to the 4th position, with a market cap of $128 billion.
However, the growing ETF expectations have boosted investor confidence. This is demonstrated by the staggering 215.8% uptick in the daily trading volume, currently at $12.64 billion.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The crypto market is in the dreaded red zone. Major tokens took a nosedive yesterday; even $SOL, $DOGE, and $ETH have dropped by more than 10%. But it’s not all downbeat: $XRP, the best presale coins, and AI tokens stand tall.
It’s plausible that Bybit caused liquidation problems, causing the entire market to take a turn for the worse.
Late last week, the crypto exchange lost $1.5B worth of crypto in the most prominent digital heist to date, causing investors to trade their digital assets elsewhere.
$XRP, the Best Presale Coins & AI Tokens Thrive
But the bullish impetus in the market remains. Last week, $XRP-based inflows captured $39.3M, fueled by Brazil’s green light for the world’s first $XRP ETF and anticipation of the Ripple vs. SEC saga coming to an end.
📉 Further outflows of US$508m following uncertainty on tariffs and monetary policy
Digital asset investment products saw outflows totalling US$508m. #Bitcoin saw outflows of US$571m while #XRP led the way with inflows of US$38.3m. #Solana, #Ethereum and #Sui followed with… pic.twitter.com/gqwXcsetp5
— CoinShares (@CoinSharesCo) February 24, 2025
Now’s a good time to seek a safe haven in volatility-immune presale coins, like $BEST and $SOLX, as well as AI tokens on the rise, like $VANA.
Since yesterday, AI coins are up by 111.16%, demonstrating their strength amid the broader market downturn.
1. Best Wallet Token ($BEST) – Cost Saving in Novel No-KYC Crypto Wallet
$BEST is one of the best presale coins with high-profit potential, as it gives Best Wallet users compelling advantages (like early access to new projects).
Best Wallet is a straightforward crypto wallet on a mission to capture 40% of the $11B non-custodial wallet industry before 2026 kicks off.
Other major Best Wallet boons include not requiring KYC, being the first of its kind to feature presale coins at their lowest-ever prices, and soon supporting over 60 blockchains.
Supporting so many networks will give users seamless access to a suite of new coins – you’ll no longer need to juggle their digital assets across multiple platforms.
Buying $BEST opens significant perks in the already thriving Best Wallet ecosystem (as evidenced by the presale snagging $10.5M). It grants lower transaction fees, community governance, and high staking rewards, currently at a hefty 153% APY.
Better still, it’s available on presale for just $0.024125, making now a prime time to buy $BEST before it attracts mainstream attention.
2. Solaxy ($SOLX) – Low-Cap Entry Point to First Ever Solana L2
Next up is $SOLX, the entry point to the world’s first Solana Layer-2 (L2) network, Solaxy.
It’s being developed to combine meme coin transactions and offload them to a side chain, speeding up transactions, lowering gas fees, and minimizing the likelihood of failed transfers.
Considering that just weeks ago, 60% of Solana network transactions failed amid the $LIBRA meme coin rug pull, Solaxy’s utility has never been more critical.
To top it off, the L2 bridges Solana with Ethereum for smooth cross-chain transfers, combining both network benefits (scalability and liquidity) and expanding the reach of their digital assets.
Given that crypto whales funneled an extra $15,122.92 and $10,515.36 into the project just three days ago, It’s not surprising that $SOLX has already raised over $23.4M on presale.
You, too, can buy $SOLX, currently for just $0.001646. We anticipate its price hitting $0.032 following the L2 network’s launch, so there might not be a better time to get involved.
3. Vana ($VANA) – Partake in AI Developments, Get Token Perks
$VANA’s 24-hour trading volume has shot up by over ~45% since yesterday, signaling heightened investor interest in its EVM-compatible Layer 1 (L1) blockchain network, Vana.
Vana introduces data liquidity pools, enabling users to contribute their data to be validated and tokenized. It aims to boost the data’s value by adding ownership and transparency.
The token plays a pivotal role in the ecosystem. It’s used for transaction fees and boosts network security through staking and governance rights – compensating users for participating in its AI developments.
Considering that the entire AI token ecosystem is valued at a whopping $31.13B and the tokenization market is anticipated to hit $5.6B by the end of 2026 (at a 19% CAGR), $VANA’s success shows no signs of slowing down.
Albeit more expensive than the coins mentioned above at $8.82, it’s a low entry point into two thriving markets. Plus, it’s available to purchase on major exchanges, including Binance, Bybit, and Upbit.
Verdict – The Crypto Market’s Not All Doom & Gloom
When considering the novel developments of the best presale coins and AI tokens like $VANA flourishing, the crypto market isn’t full of despair.
This is especially true when considering that buying coins during market turmoil can be a strategic move. Now’s a great time to buy coins at their lowest current prices before their prices rise when the market recovers.
But we are not financial advisors. You must always DYOR when making crypto investments and never spend more than you’d be sad to lose.
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