What Happened in the Crypto Market Last Week: February 10

Introduction

Since the start of the month, the crypto markets have remained highly volatile, with the tokens trying to reclaim the bullish range. The tariff war caused huge turbulence within the markets, dragging the levels towards fresh monthly bottoms. As a result, the cryptos closed the weekly trade on a bearish note. Here’s a compiled weekly round-up that may ensure you stay informed about the significant movements within the crypto space. 

Key Takeaways from the Past Week 

1. The border markets continue to bleed and as a result, the probability of an Altseason remains lower as several altcoins faced a massive pullback, halting the recovery from the massive sell-offs following the Trump Tariff-war
2. The dominance of Bitcoin price & Ethereum price spiked to some extent, which displayed the possibility of a steep recovery while the broader markets are still shaky as investors are still understanding the new market structure.
   1. The current bull market has shifted from a strong Altseason towards ‘riskier’ altcoins as the altcoins remain away from their ATH while the top ones have achieved it.
   2. The tokens have been witnessing ‘mini-peaks’ but there is no broadly based rally as the investors seem to be careful before entering the space
3. The global market capitalization gained some ground after a massive sell-off and reclaimed levels above $3.3 trillion
4. The recent US data provided some respite to crypto markets, which could build a case for a potential Fed rate cut. 
5. The stablecoin market grows by more than $40 billion with a rise in the new issuance, signaling a potential crypto price upswing 
6. Fintechs in Europe, like Klarna, announced their plans to embrace crypto amid the upcoming $15 billion IPO plans
7. The transactions over the Bitcoin network fell to an 11-month low in January, signaling reduced trading activity. Besides, Bitcoin’s backlog of unprocessed transactions also plummeted, leading to a drop in fees. 
8. The strongest positive sentiments were witnessed in large caps like SOL, XRP & LTC, due to the rise in expectations of ETF approval.
9. The AI tokens dropped heavily with VIRTUALS leading a sharp correction but a rebound is expected shortly
10. Besides, the tokenization-related projects of TradFi are gaining a major boost along with gold-backed cryptos like PAX and XAUT.
11. The markets also witnessed a major launch this week with BeraChain’s BERA going live and topping $1B in market capitalization after $632M in airdrop. 

Conclusion

Apart from these, there are a couple of developments in the regulatory landscape while the Tornado Cash developer Alexey Pertsev was released from jail to prepare for appeal. The SEC seems to be ready to advance XRP, LTC & SOL ETFs, while the upcoming week may also remain volatile with major events like the unemployment rate to be produced soon. 

Stay tuned for next week’s updates as we track the latest crypto innovation and market movement.