Another Week of Losses: Only 2 Top 10 Cryptos Escape Bloodshed

The cryptocurrency market suffers another blow this week as major coins like Bitcoin and Ethereum see price drops.

Bear is devastated with the crypto results.
Created by Kornelija Poderskytė from DailyCoin
  • The crypto slump has continued as major coins have tumbled this week.
  • The possibility of a crypto market crash has loomed as most top coins have seen major price drops, with few exceptions.
  • Two coins have suffered double-digit losses, while one coin has made double-digit gains.

The cryptocurrency market has taken another hit this week, with nearly all major coins experiencing price declines. Bitcoin and Ethereum, the two leading cryptocurrencies, fell by 4.4% and 4% respectively. This continues a recent trend of broad market downturns, with only a few outliers managing to buck the trend.

Toncoin Soars While Market Struggles

One such outlier this week was Toncoin (TON), which defied the bearish sentiment and surged by an impressive 12%. This comes after a week where most coins saw gains, with TON being a notable exception. This back-and-forth performance has made TON a bit of an enigma in the market, with some speculating about the reasons behind its volatility.


Ripple (XRP) managed to eke out a small win this week, with a meager 0.15% gain. This is a far cry from the double-digit gains seen by TON, but it’s the only other cryptocurrency that managed to stay afloat amidst the falling tide.

On the losing side, Binance Coin (BNB) and Shiba Inu (SHIB) took the biggest hits, dropping by 11.3% and 11% respectively. Solana (SOL) wasn’t far behind, experiencing a 9.4% decline. Dogecoin (DOGE) and Avalanche (AVAX) also saw significant losses, both falling by 7%. Cardano (ADA) completed the list of major losers with a 5.7% drop.

The reasons behind the broader market downturn are still being debated. Some analysts point to concerns about increasing regulation, while others cite profit-taking after a strong rally earlier this year. Regardless of the cause, the current trend highlights the inherent volatility of the cryptocurrency market.


Only 2 of the top 10 cryptocurrencies experienced price increases over the past week. Here’s a look at them:

DailyCoin's Snapshot of the Crypto Markets' Weekly Winners: Source DailyCoin
DailyCoin’s Snapshot of the Crypto Markets’ Weekly Winners: Source DailyCoin


All but 2 of the top 10 cryptocurrencies experienced price losses over the past week. Here’s a look at them, ranked by their percentage decrease:

DailyCoin's Snapshot of the Crypto Markets' Weekly Losers: Source DailyCoin
DailyCoin’s Snapshot of the Crypto Markets’ Weekly Losers: Source DailyCoin

This is just a snapshot of the current market conditions at the time of writing. Cryptocurrency prices are constantly fluctuating, so it’s important to do your own research before making any investment decisions.

On the Flipside

  • Ripple (XRP) barely avoided losses this week, but this minor gain might not signal strong market confidence. Yet, there’s been upbeat news circulating about XRP.
  • The current slump could be a short-term pullback before the market rebounds, as has happened previously.

Why This Matters

Despite some setbacks, the overall sentiment in the cryptocurrency market remains positive. The approval of Ethereum ETFs marks a significant milestone for the industry and could usher in a new era of growth and mainstream adoption. While the long-term impact remains to be seen, this week’s rally suggests a bright future for the crypto space.

If you’re interested in the latest developments in the Ripple vs. SEC saga, you won’t want to miss this article:
SEC Lowers Settlement Offer for Ripple to $102.6 Million

For a deeper look into Ripple’s arguments regarding the Terraform Labs case comparison, check out this article:
SEC Responds Strongly to Ripple in Terraform Labs Citation

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Kyle Calvert

Kyle Calvert is a cryptocurrency news reporter for DailyCoin, specializing in Ripple, stablecoins, as well as price and market analysis news. Before his current role, Kyle worked as a student researcher in the cryptocurrency industry, gaining an understanding of how digital currencies work, their potential uses, and their impact on the economy and society. He completed his Masters and Honors degrees in Blockchain Technology within Esports and Business and Event management within Esports at Staffordshire University.