Ah, the sweet scent of financial despair wafts through the air like a cheap cologne at a provincial ball. It is February 6th, a Friday no less, and the crypto market lies in tatters, its once-glittering promises now as faded as a forgotten New Year’s resolution. Yesterday’s $2.6 billion liquidation, as reported by CoinGlass, was not merely a bloodbath-it was a grand ballet of greed and folly, performed by dancers who forgot their steps.
Today’s menu of misery includes Grayscale, that noble institution, dumping XRP like a jilted lover tossing out love letters. A cool $1.15 million worth, as the price plummeted 26%. Cardano’s Charles Hoskinson, meanwhile, stands atop a mountain of losses, claiming to have misplaced $3 billion. Yet, like a true martyr to the cause of irrational optimism, he refuses to cash out. ADA, his brainchild, charts a course straight to $0.053, an 80% drop that would make even the most stoic observer chuckle.
Binance, ever the pragmatic host, has pulled the plug on 20 spot pairs, as if pruning dead branches from a withering tree. Bitcoin, that once-mighty titan, bounced back to $60,000, but its crown sits askew, down 48% from its October glory days. Ah, the fickleness of fate!
“Blood in the streets,” quoth Ripple CEO Brad Garlinghouse, with the dramatic flair of a man who’s read one too many Dostoevsky novels. Altcoins are being swept away like crumbs at a banquet, miners’ reserves and ETFs wielded as weapons in this financial pogrom. The “crypto winter” is no longer a distant nightmare-it is here, sipping tea and mocking our hubris.
TL;DR
- Grayscale, the grand maestro of sell-offs, dumped XRP like yesterday’s news, amid a 26% price crash.
- Cardano’s Hoskinson admits to losing $3 billion, while ADA eyes a plunge to $0.053. Stoicism, thy name is folly.
- Binance, in a fit of prudence, delists 20 pairs after a $2.6 billion liquidation tsunami. Bitcoin clings to $60,000 like a shipwrecked sailor to a raft.
No, the secret Ripple founder is not dumping XRP: Here’s who is
Ah, the rumors! Like mosquitoes at a summer picnic, they swarm around the XRP crash. On February 5th, XRP lost 26% in a single day-its worst performance since mid-2022. Whispers of Ripple insiders dumping tokens filled the air, but data, that cold-hearted truth-teller, exposes the real culprit. SoSoValue’s ETF flows reveal Grayscale’s GXRP spot ETF saw a net outflow of 974,110 XRP, equivalent to $1.15 million. Franklin’s XRPZ and Canary’s XRPC, meanwhile, posted inflows, proving that Grayscale was the lone wolf in this sell-off.
Even with $66.8 million in XRP spot ETF trading activity, Grayscale was the only one selling big. As of February 6th, XRP spot ETF net inflow remains positive at $1.21 billion, but if Grayscale continues its sell-off, XRP may face another crisis of confidence. Ah, the fragility of trust!
Cardano creator admits $3 billion losses as ADA price eyes 80% collapse
Charles Hoskinson, in a livestream from Tokyo, confessed to losing $3 billion in personal crypto holdings. “Do you think I honestly care if I lose it all?” he asked, with the bravado of a man who’s read too many self-help books. ADA, meanwhile, crashed 10% on Thursday, slipping under $0.27, and now teeters on the edge of oblivion. Analyst Ali Martinez predicts a plunge to $0.053, a scenario that would make even the most hardened investor weep.
“It’d have been real easy to cash out… Do you think I honestly care if I lose it all?” – Charles Hoskinson on X
Hoskinson’s stoicism may inspire his community, but the price chart tells a different tale. Cardano developers may be building, but ADA holders are fleeing like rats from a sinking ship. If $0.249 fails to hold, ADA may enter a brutal illiquidity pocket, where double-digit drawdowns become the norm. Ah, the cruelty of markets!
20 pairs set to be delisted by Binance after $2.6 billion liquidation tsunami
Thursday’s liquidation carnage erased $2.6 billion in derivatives, and Binance, ever the prudent steward, has begun pruning its garden. The exchange announced the delisting of 20 spot pairs, citing poor liquidity and risk concentration. AUDIO/BTC, BB/FDUSD, and others were cast aside like yesterday’s newspaper, their fates sealed by the market’s whims.
The move follows aggressive sell-offs in midcap and low-liquidity altcoins, many of which were forced into liquidation “death” spirals as BTC cratered toward $60,000. Binance’s risk desk is pruning volatility to avoid cascading failures, especially with BTC hovering just 10% above $66,000. Ah, the prudence of the survivor!
Crypto market outlook: XRP, BTC, ADA price update
As we enter the second week of February, the crypto market stands at a precipice. XRP ETF flows remain net positive, but Grayscale’s exit is a red flag. ADA nears chart oblivion, and Hoskinson’s morale boost will not defy gravity. Binance’s mass delisting signals that de-risking is far from over.
Expect more forced sellers, painful bounces, and wild swings. Focus on BTC’s ability to hold $66,000 into the weekend. If that breaks, prepare for the $50,000s or worse. Ah, the drama of it all!
Key levels to watch:
- Bitcoin (BTC): Holding $66,000 keeps hope alive; lose it, and next stops are $60,000, then $52,000, $47,300, and finally $42,000.
- XRP: Under $1.3 risks $1 break; $0.33 follows fast.
- Cardano (ADA): Teeters at $0.273, with $0.249 as last real support before collapsing toward $0.115 and then $0.053.
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2026-02-06 16:33