BTC$93,626.626.33%ETH$2,476.4120.03%USDT$1.00080.09%XRP$2.217722.61%SOL$193.787.96%BNB$555.7414.99%USDC$1.00020.02%DOGE$0.230223.66%ADA$0.664424.89%TRX$0.216010.70%WBTC$93,809.876.32%LINK$17.9220.97%AVAX$23.7623.83%XLM$0.314018.93%SUI$3.012421.31%LEO$9.69830.99%TON$3.520123.29%HBAR$0.219022.16%SHIB$0.0₄134622.85%HYPE$22.452.68%MarketsShare this articleXRP, dogecoin (DOGE) and Cardano’s ADA fell more than 25% to reverse all of the gains since December, reaching pre-U.S. election levels from early November.By Shaurya Malwa|Edited by Omkar GodboleUpdated Feb 3, 2025, 5:34 a.m. UTCPublished Feb 3, 2025, 5:31 a.m. UTCWhat to know: XRP, dogecoin (DOGE) and Cardano’s ADA fell more than 25% to reverse all of the gains since December, reaching pre-U.S. election levels from early November. Most major altcoins are down 40-50% in the past month, data shows, making it one of the steepest dives in recent years.Overall market capitalization fell 12%, the worst fall in over a year, while the broad-based CoinDesk 20 (CD20) lost 10%. Bitcoin (BTC) dropped 6%.Major tokens slumped more than 25% in the past 24 hours as a new wave of tariffs imposed by the U.S. on Canada and Mexico over the weekend birthed talks of a global trade war — souring sentiment for risk assets.XRP, dogecoin (DOGE) and Cardano’s ADA fell more than 25% to reverse all of the gains since December, reaching pre-U.S. election levels from early November. Most majors are down 40-50% in the past month, data shows, making it one of the steepest dives in recent years. Overall market capitalization fell 12%, the worst fall in over a year, while the broad-based CoinDesk 20 (CD20) lost 10%. Bitcoin (BTC) dropped 6%.STORY CONTINUES BELOWDon’t miss another story.Subscribe to the Crypto Long & Short Newsletter today.See all newslettersBy signing up, you will receive emails about CoinDesk products and you agree to ourterms of useandprivacy policy.Futures markets reflected these losses with traders of ether (ETH)-tracked products losing over $600 million in the past 24 hours, majorly in early Asian hours. XRP and DOGE bets lost a cumulative $150 million, altcoin-tracked products lost $138 million and ether-tracked futures lost $84 million.Total liquidations crossed $2.2 billion, the highest this year and among the biggest such levels in the past year. The largest single liquidation order happened on Binance, a tether-margined ETH trade valued at $25 million.Some traders cautioned of further losses as the week progressed.“While BTC has fallen over 8% over the weekend it was Ethereum that shocked the market with a straight 20% decline and it’s behaving like an altcoin on the downside without the benefit of long-term institutional inflows and a lack of near-term catalysts,” Augustine Fan, head of insights at SignalPlus, told CoinDesk in a Telegram message.“Massive long futures liquidation was observed over the weekend with over 2 billion in futures stop outs over the past 24 hours, the sh
Lun. Feb 3rd, 2025
