The digital currency ecosystem is operating with massive volatility that was engineered by the collapse and eventual bankruptcy of derivatives exchange FTX over the past week. The combined crypto market capitalization has plunged to $837.47 billion, one of its lowest points over the past year.

FTX Token (FTT) visibly induced price breakdown falling over 92.33% in the last 7-day period to $1.78 according to data from CoinMarketCap. The coin’s collapse mirrored that of Terra (LUNA), which lost 12-month gains in about a week when algorithmic stablecoin TerraUSD (UST) crashed in early May.

Industry investors have lost confidence in FTX even before it filed for bankruptcy, a move that prompted the withdrawals that precipitated the trading platform’s liquidity crisis. Seeing the bleak future of the company, FTT holders had to sell the coins on other exchanges as well.

How the Top 10 Coins of the Week Performed

Every digital currency in the top 10 list has been a relatively poor performer over the past week to date. Bitcoin is changing hands at $16,655.55, down 21.50% in the week-to-date period. Bitcoin even fell as low as $15,682.69 over the course of the week, its lowest point in close to 2 years.

Ethereum (ETH) suffered the same fate, falling 23.63% over the week to $1,237.73. Binance Coin (BNB) is trading at $278.36 on top of a 20.41% drop. XRP, Polygon (MATIC), Dogecoin (DOGE) and Cardano (ADA) also posted a drop of more than 20% during the week under review.

Despite the onslaught so far, the ecosystem is not out of the woods yet, as the ripple effect of the FTX collapse will be revealed in the coming weeks. Investors should err on the side of caution until the coast is determined to be clear.

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