News 
February 6, 2025 
3 min. 
The market becomes ever more volatile with altcoins reacting to these bearish sentiments in various ways. While Ethereum (ETH) is showing strength on the futures market, XRP continues to be crushed by relentless selling. In the meantime, SUI looks to break past Avalanche (AVAX) in rankings. Currently, the total market cap of crypto assets has dipped by 1.56% to reach $3.16 trillion, indicating the ever-present headwinds in the market.
Ethereum Futures Indicate Growing Optimism
The price movement of Ethereum appears to be independent of Bitcoin, therefore it indicates potential momentum on its own. As of this moment, ETH is trading at $2,789.12 which marked an increase of 2.21% in the last 24 hours. Meanwhile Bitcoin is still in the red and has dropped by 1.36% and is currently positioned at $96,634.
Coinglass suggests that investor sentiment towards Ethereum is improving. Open Interest, which tracks the total value of futures contracts that remain unpaid, increased by 1.33% in the last day and now stands at 8.57 million ETH worth about $23.94 billion. With this, speculation that ETH is likely to garner $3,000 again is also increasing, especially after Ethereum recently touched a low of $2,500.
XRP Faces Selling Pressure, While SUI Eyes AVAX’s Spot
While Ethereum appears to be stabilizing, XRP continues to struggle. The token has dropped over 5% in the past 24 hours, now trading at $2,397. Despite previous speculation that XRP could challenge ETH’s market dominance, its recent performance suggests otherwise. However, ongoing efforts to secure an XRP exchange-traded fund (ETF) in the U.S. could provide a future catalyst for price recovery.
Elsewhere, the competition between SUI and Avalanche is heating up. Both assets are experiencing price declines, with SUI down 6.66% to $3.349 and AVAX dropping 1.72% to $25.98. Despite this, SUI is closing the gap in market capitalization, trailing AVAX by just $340 million—a difference that could be erased if bullish momentum returns.
Unlike Avalanche, which hasn’t hit a new all-time high in over three years, SUI has reached multiple record highs in the current cycle, reinforcing its potential to surpass AVAX in ranking. As market conditions evolve, Ethereum’s growing futures interest, XRP’s ETF speculation, and SUI’s pursuit of Avalanche’s position will remain key developments to watch.
