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It is Feb. 6, Friday, and the crypto market is dealing with the implications of yesterday's $2.6 billion bloodbath; that is how much, according to CoinGlass, was liquidated in derivatives on crypto yesterday.
On today's agenda, though, is how Grayscale just dumped XRP worth $1.15 million in one day as the price plummeted 26%. Cardano Creator Hoskinson claims to have lost over $3 billion, yet he refuses to cash out. Meanwhile, the ADA charts indicate an 80% drop straight to $0.053.
Finally, Binance pulled the plug on 20 spot pairs right after $2.6 billion in liquidations rocked the market. Bitcoin bounced back up to $60,000, but it still looks doomed, down 48% from its October peak.
There are no catalysts or safety nets — just "blood in the streets," as Ripple CEO Brad Garlinghouse has said. Altcoins are being wiped out, miners' reserves and ETFs have become weapons, and "crypto winter" is no longer a nightmare scenario; it is the current environment.
TL;DR
- Grayscale was revealed as one of the biggest XRP ETF sellers amid a -26% daily price crash.
- Cardano creator Charles Hoskinson says he lost over $3 billion in crypto, ADA eyes $0.053.
- Binance cuts 20 spot pairs after a $2.6 billion liquidation storm as Bitcoin dips to $60,000s.
No, secret Ripple founder is not dumping XRP: Here's who is
If you were one of those blaming Ripple insiders for the XRP crash, data just killed that theory. On Feb. 5, XRP lost over 26% in a single trading day — its worst 24-hour sell-off since mid-2022. Rumors swirled that Ripple wallets might be dumping again. But ETF data exposes the real reason.
According to SoSoValue’s ETF flows, Grayscale’s GXRP spot ETF saw a net outflow of 974,110 XRP yesterday, equivalent to over $1.15 million, and it was the only XRP ETF with any outflows at all. Franklin’s XRPZ and Canary’s XRPC posted $1.63 million and $503,000 in daily net inflows, respectively.
That points to concentrated dumping from Grayscale holders, not Ripple staff or "secret" founders.
Even with $66.8 million in total XRP spot ETF trading activity on the day, only one player was selling big, and it was Grayscale. As of Feb. 6, the total XRP spot ETF net inflow remains positive at $1.21 billion, with net assets hovering around $1.07 billion.
But if Grayscale’s sell-off is extending, it risks sparking another confidence crisis for XRP.
Cardano creator admits $3 billion losses as ADA price eyes 80% collapse
Charles Hoskinson’s livestream confession on X from Tokyo hit differently. The Cardano founder publicly admitted to losing over $3 billion in personal crypto holdings, calling it an unrealized loss but refusing to sell. ADA crashed over 10% on Thursday, slipping under $0.27, and is now teetering on critical weekly supports.
“It’d have been real easy to cash out… Do you think I honestly care if I lose it all?” - Charles Hoskinson on X
That stoicism did not stop ADA from bleeding. According to analyst Ali Martinez, the ADA weekly chart now targets $0.249 as immediate support, with $0.115 and even $0.053 as potential capitulation zones. Cardano token is already down over 75% from its 2025 peak, and an 80% drawdown scenario is now just a 15% drop away.
Hoskinson’s comments came as a morale boost to the community, but the price chart tells a more ruthless story. Cardano developers may be building, but ADA holders are exiting.
If $0.249 fails to hold, ADA may enter a brutal illiquidity pocket, where double-digit drawdowns can happen intraday. That puts $0.115 as a medium-term bear target unless market sentiment shifts somehow.
20 pairs set to be delisted by Binance after $2.6 billion liquidation tsunami
Thursday’s liquidation carnage erased $2.6 billion in derivatives across the crypto market, and the world's largest crypto exchange, Binance, is already slashing exposure. The exchange announced the delisting of 20 spot pairs, citing poor liquidity and risk concentration.
Affected pairs include: AUDIO/BTC, BB/FDUSD, BERA/FDUSD, EIGEN/BTC, FIDA/BTC, HEI/BTC, IOTX/ETH, KERNEL/FDUSD, MANTA/BTC, MTL/BTC, NEAR/FDUSD, PEOPLE/FDUSD, RENDER/FDUSD, RONIN/BTC, SAPIEN/BNB, SCR/BTC, S/ETH, S/FDUSD, SUSHI/BTC and VANA/FDUSD.
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. Several of the affected pairs were down 30-70% during peak liquidation windows.
Binance’s risk desk appears to be proactively pruning volatility to avoid cascading failures — especially with BTC hovering just 10% above $66,000 in what may be a "dead cat bounce."
Crypto market outlook: XRP, BTC, ADA price update
As we enter the second week of February, most major assets face critical weekly closes. XRP ETF flows remain net positive, but the Grayscale exit is a red flag. ADA is nearing chart oblivion, and Hoskinson’s morale boost will not change price gravity. Binance’s mass delisting signals that de-risking is not done yet.
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.
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.
Gamza Khanzadaev
Tomiwabold Olajide
Godfrey Benjamin
Yuri Molchan