Altcoin
BTC & Altcoins Continue to Struggle, TRON Jumps 4%
The crypto market on Friday continued keeping investors on their toes, with coins mainly trading sluggishly. Bitcoin (BTC) price showcased a trading session at the $97K level, whereas Ethereum (ETH), XRP, and Solana (SOL) reflected a similar volatile trajectory. However, TRON emerged as the talk of the town, defying the broader market trend amid strong ecosystem growth.
Here’s a collection of some of the most buzzworthy coins on February 7:
Crypto Market Today- BTC & Altcoins Face Market Turbulence
Notably, the global cryptocurrency market cap slipped 0.47% from yesterday, reaching $3.18 trillion. However, the global market volume saw a slight 2.88% increase to $126.33 billion. At the same time, BTC price illustrated a tight intraday sideways action, still trading near the previous day’s levels. Moreover, other crypto tokens have mainly taken more heat from yesterday.
BTC Price At $97K
As of press time, BTC price traded at $97,289, down marginally by 0.2% intraday. However, it’s worth pointing out that the coin’s 24-hour low and high were $95,707.35 and $99,168.61, respectively. The flagship coin’s dominance saw a 0.52% increase from yesterday to 60.87%, signaling that altcoins took more heat and lost market value.
Ethereum Price Slips
ETH price cracked nearly 3.5% in the past 24 hours, reaching $2,713. The coin’s intraday bottom and peak were $2,662.45 and $2,857.14, respectively. Crypto market traders remain cautious as whales are recorded selling ETH amid the current turbulent landscape.
Lookonchain revealed on X that a whale sold 8,500 Ethereum tokens for 22.25 million DAI at an average price of $2,736 during early Asian hours on February 7. Market sentiments remain uncertain at the moment as a result of the broader sector’s volatility.
XRP Price Below $2.5
Meanwhile, XRP price mimicked a drop, down nearly 3% to $2.35. The coin’s intraday bottom and peak were $2.29 and $2.46, respectively. Despite the price drop, renowned analyst Ali Martinez revealed that whales bought 520 million XRP, flagging a buy-the-dip opportunity. This data also suggests that a recovery above $3 lies ahead.
Also, it’s worth mentioning that the CBOE stock exchange has filed 19b-4 applications with the U.S. SEC, primarily for 21Shares, Bitwise, WisdomTree, and Canary Capital XRP ETFs.
Solana Price Mirrors Dip
SOL price witnessed a 4% decline in value and exchanged hands at $193.39. The coin’s 24-hour low and high were $188.17 and $203.89, respectively. Intriguingly, VanEck made a bullish prediction on SOL price, claiming it to hit $520 by year end.
Meme Crypto Market Today
The meme coins sector has mirrored a very similar waning action. Dogecoin (DOGE) price tanked 3% in the past 24 hours and is sitting at $0.2522. Shiba Inu (SHIB) pulled back 5%, resting at $0.00001511. Even PEPE and TRUMP reversed gains by 6-7%, trading at $0.000009455 and $17.51, respectively.
Top Crypto Market Gainers Today
TRON (TRX)
Price: $0.2335
24-Hour Gains: +4%
Bitget Token (BGB)
Price: $6.70
24-Hour Gains: +2.5%
Ondo (ONDO)
Price: $1.38
24-Hour Gains: +1%
Top Crypto Market Losers Today
Onyxcoin (XCN)
Price: $0.02637
24-Hour Loss: -14%
Ethena (ENA)
Price: $0.4895
24-Hour Loss: -10%
Dogwifhat (WIF)
Price: $0.7267
24-Hour Loss: -9%
Notably, despite the current volatile landscape of the sector, crypto enthusiasts and analysts continue to stay bullish on long-term prospects. Primarily, renowned analysts and enthusiasts like ‘Kaleo and Ash Crypto,’ among others, continue to stay optimistic about the sector’s future despite the recent shakeout, per their recent posts on X.
Coingape Staff
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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.
Crypto expert Dark Defender predicted that the XRP price could rally to $280, providing a bullish outlook for the crypto. The expert alluded to XRP’s historical performance as to why the coin could reach such an ambitious price target.
Crypto Expert Predicts XRP Price Rally To $280
In an X post, Dark Defender predicted an XRP price rally to $280 as he raised the possibility of the crypto replicating its 2017 bull run performance. In 2017, XRP witnessed a price rally of over 60,000% on its way to its current all-time high (ATH) at around $3.3.
The expert’s accompanying chart showed that XRP could reach this $280 target between 2026 and 2027, although the parabolic rally could begin this year as the crypto looks to replicate its 2017 performance.
Interestingly, crypto analyst Egrag Crypto had also made a similar prediction to Dark Defender. The analyst predicted that XRP could rally to $222 if history repeats itself, alluding to the 2017 bull run.
Coffee-Cup Pattern Shows Rally To $44 Is Possible
In an earlier post, Dark Defender made a more conservative prediction of an XRP price rally to $44 based on a ‘Coffee Cup’ pattern. He explained that this market pattern is a U-shaped formation on a price chart, indicating a potential bullish trend reversal after a downtrend. This pattern typically takes weeks to months to develop fully.
The expert stated that he has paired this pattern with the Elliot Waves, which has given a better picture of XRP’s future trajectory. He remarked that wave 3 is charging toward $5.85 and $18.22. Wave 5 is eyeing $36, while the cup’s depth plus Coffee level is brewing up for a rally to as high as $44.22.
XRP Is Testing Critical Resistance
In an X post, crypto analyst CasiTrades stated that the XRP price is testing critical resistance at around $2.54 and is currently sitting just below the trendline of a consolidation pattern. She further remarked that if the crypto breaks and holds above this $2.54 price level, the next targets are still $2.70 and $3.05.
The analyst had previously highlighted those price levels as the upside targets when she warned that XRP could drop to as low as $1.5 if it fails to hold above $2.42. Meanwhile, in her recent analysis, CasiTrades remarked that she is still leaning towards the idea that the crypto is still in the early stages of Wave 3.
The analyst added that it is just not obvious yet, but once XRP breaks previous highs, the crypto could rally to $9.50 for the official Wave 3 extension. She noted that this aligns with the macro $8 to $13 price target.
Crypto analyst Ali Martinez predicted that the XRP price could soon rally to $5. He stated that if XRP avoids closing below the head-and-shoulders neckline and breaks above the right shoulder instead, it could invalidate the bearish pattern. He added that this move might trigger a bullish breakout toward $5.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
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.
United States President Donald Trump’s much-talked-about crypto summit produced plenty of soundbites and policy plans that will satisfy investors, analysts, and casual observers. One of the most intriguing policy statements came from the US Treasury Secretary Scott Bessent, who called for comprehensive and transparent regulations on stablecoins.
Secretary Bessent further stated that the US government plans to use stablecoins to back up the US dollar and retain its status as the primary global currency reserve.
The White House Crypto Summit on March 7th was the biggest gathering and attracted many crypto personalities. In addition to Trump and Bessent, the White House summit hosted Zach Witkoff of World Liberty Financial, Strategy CEO Michael Saylor, Coinbase co-founder and CEO Brian Armstrong, entrepreneur David Bailey, and investors Cameron and Tyler Winklevoss.
A Gathering For The Planned Crypto Reserve
Friday’s White House gathering focused on conversations on a strategic reserve for Bitcoin and crypto. Trump has already issued an executive order to create a stockpile for other crypto assets. This executive order authorizes the secretaries of Commerce and Treasury to propose “budget-neutral strategies” that can finance the acquisition of additional Bitcoins without passing the burden to taxpayers.
Image: StormGain
Trump reiterated that the planned reserve must not burden US taxpayers. According to crypto czar David Sacks, the reserve shall be built on Bitcoins currently controlled by the US government that were forfeited as part of civil asset and criminal forfeiture proceedings.
Stablecoins To Help Protect US Dollar
Another key theme during the summit was the growing importance of stablecoins, particularly in propping up the US dollar. Trump and Bessent issued statements supporting stablecoins. In his speech, Bessent echoed the president’s plan to end the war on cryptocurrencies. He then turned and talked about stablecoins, and shared that these tokens are part of the financial planning.
In his speech, Bessent admitted that they’re looking at stablecoins and that, upon Trump’s instructions, they will work to keep the USD as the dominant world currency.
Fed Governor Waller Pitches For Stablecoins
Federal Reserve Governor Christopher Waller also supported stablecoins in February 2024. He explained that increasing demand for stablecoins can address or mitigate crypto’s impact on the dollar’s market share.
For Waller, the US can rely on stablecoins by addressing capital controls in other countries and boosting payment rails. Responding to these suggestions, US representatives Bryan Steil and French Hill have already forwarded a stablecoin bill, the Stable Act of 2025, to draft transparent regulations for these tokens.
Featured image from Pexels, chart from TradingView
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Pi Network (PI) is making waves in the crypto community with its explosive growth and increasing adoption. The popular cryptocurrency, which has been a hot topic due to its unique mining model and closed mainnet, is now gaining an unprecedented following on the X social media platform. The cryptocurrency is also rivaling top meme coins like Dogecoin (DOGE), quickly approaching the size of the meme coin’s loyal fanbase.
PI Network Closes In On Dogecoin With 4 Million Followers On X
Pi Network has achieved an incredible milestone by reaching 4 million followers on X, signaling a significant step forward in its rapid rise within the crypto market. This rapid growth and adoption positions the cryptocurrency on the verge of matching or even surpassing the social media presence of Dogecoin which has 4.3 million followers on X.
Since its inception in 2019, Pi Network has captured the attention of crypto enthusiasts, offering user-friendly and mobile-based mining services. This mining activity clearly contrasts with traditional cryptocurrencies like Bitcoin, which require high-powered hardware for mining.
To commemorate its massive growth, the team behind Pi Network took to X on March 5 to announce its milestone of reaching 4 million followers on X. They congratulated community members and PI enthusiasts who helped support the cryptocurrency in hitting this goal.
In addition to its growing adoption on X, Pi Network has become one of the trendiest cryptocurrencies in the market. While other top digital assets struggle with the broader market volatility and experience price declines, the value of PI is surging at an unexpected rate. CoinGecko has ranked PI Network as the number one trendy cryptocurrency in its top 20 list. The popular cryptocurrency has surpassed top dogs like Dogecoin, Ethereum, Cardano, Solana, XRP, Bitcoin, and other major digital currencies.
CoinMarketCap also ranks Pi Network as the 11th largest cryptocurrency by market capitalization, just two positions from Dogecoin’s 9th. This rapid growth to the 11th position underscores PI’s impressive growth in just a few weeks.
Community Advocates For Binance Listing For PI
Rumors of a potential PI Network listing on Binance, the largest crypto exchange, have been spreading across the crypto market. This speculation grows as the crypto community pushes for this integration on Binance.
The PI blockchain on X made a bold request on February 5, demanding Binance to officially list the Pi Network and make it available for trade on its exchange. Calling on all PI supporters and community members, the PI blockchain urged investors and holders to continually advocate for the listing and ensure their voices are heard.
Interestingly, an X user named ‘Satoshi Nakamoto’ reported that 86% of Binance community members had voted in favor of listing the Pi Network. Despite these results and the ongoing pressure from the PI community, Binance has yet to make an official statement.
Featured image from Live Science, chart from TradingView
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