The crypto market has lost $1 trillion. Revolut is closing Ukrainian accounts. Bitcoin mining is becoming unprofitable. Ripple is focusing on DeFi. The Bithumb exchange accidentally gave away 2,000 BTC to customers
The crypto market has lost over $1 trillion: Bitcoin and altcoins keep dropping
The price of Bitcoin fell below $70,000, and on February 6, 2026, it reached $60,000, updating its low since September 2024. Since the beginning of this year, the value of the first cryptocurrency has lost 17%.
Top altcoins have also fallen significantly in price. Over the past week (02.02-08.02), Ethereum lost 12.65%, BNB lost 16.72%, SOL lost 15.95%, and DOGE and ADA fell by 7%. According to CoinMarketCap, over the past 22 days, the total capitalization of the crypto market has fallen by more than $1 trillion to $2.39 trillion.
The decline is accompanied by a drop in liquidity, increased volatility, and investors moving away from risky assets. Experts cite the following as the main reasons for the pressure:
- Geopolitical uncertainty.
- Weak macroeconomic situation.
- The policy of the US Federal Reserve.
- Outflow of funds from crypto ETFs (- $12 billion over the past 3 months).
The US regulator's decision to keep interest rates unchanged and signals of a possible tightening of monetary policy disappointed the market and triggered an outflow of capital into fiat. Additional negativity was caused by the hack of the Step Finance DeFi platform on the Solana network, resulting in $29 million in losses.
CryptoQuant analysts predict a drop in Bitcoin to $54,600, where the market may shift from panic selling to accumulation. JPMorgan experts maintain a positive long-term outlook. According to their calculations, Bitcoin could grow to $266,000 in the future, but this goal is unrealistic in the current year and is only possible after a change in market sentiment. As of February 9, 2026, the BTC rate is $70,888.
Revolut closes accounts of users from Ukraine
European bank Revolut has stopped servicing accounts of users who live in Ukraine. Since February 2026, the financial institution's services have become unavailable. The decision is not related to citizenship but to the actual place of residence specified in the profile.
Revolut entered the Ukrainian market with limited functionality, but suspended registration of new customers in April. On December 22, users began receiving notifications about the need to withdraw funds and close accounts.
The reason is regulatory requirements. Revolut can only provide financial services in countries where it has official permission, but it has not yet managed to obtain a license from the NBU.
The decision to exit the market does not apply to Ukrainian migrants with a confirmed European address — they continue to be served as usual. ObmenAT24 customers can also perform transactions with neobank accounts. Through our service, you can top up Revolut with cash dollars in Kyiv, Zhytomyr, Poltava, and other cities in Ukraine. You can also exchange Revolut EUR to Tether TRC20 (USDT) and other currencies.
Mining crisis: revenues have collapsed, companies are recording record losses
Bitcoin miners are massively shutting down their equipment amid a sharp deterioration in the mining economy, which has led to the largest decrease in network complexity (hash rate). This trend was recorded in the first week of February 2026. The hash rate fell to 125.86 T, losing 11.16%, which was the sharpest decline since 2021, when mining was banned in China.
Mining profitability plummeted to $0.03 per TH/s, compared to about $3.5 in 2017. Pressure on the industry was exacerbated by the fall in Bitcoin prices and rising electricity tariffs.
The situation also affected large mining companies, including CleanSpark, MARA, IREN, TeraWulf, and Riot, whose shares lost between 5% and 13% of their value. Organizations are recording losses, writing off equipment, and revising strategies, including transferring some data centers to AI-related workloads.
Ripple announced the expansion of DeFi functions
The developers of Ripple and XRP Ledger presented a plan to scale DeFi functions on the network, aimed at increasing the practical use of the XRP token in settlements. The information appeared on the Ripple Labs blog on February 6, 2026.
The team plans to launch a decentralized exchange by the end of this year, taking into account AML and KYC requirements, as well as a lending protocol with fixed terms and interest rates.
Ripple reported that the XRPL blockchain, on which the coin is based, is gradually developing as a platform for financial transactions with digital assets. In February, tools for issuing tokens, verifying customers, controlling access to operations, and pre-checking transactions appeared there. Moreover, a parallel blockchain with support for Ethereum Virtual Machine, which allows developers to use XRPL solutions in an environment compatible with Ethereum, was launched on the network.
Against the backdrop of announcements and updates, the XRP rate rose by 18% in a moment, from $1.22 to $1.53. As of February 9, 2026, the cryptocurrency is trading at $1.43.
Bithumb crypto exchange accidentally gave away 2,000 BTC to users
The South Korean crypto exchange Bithumb experienced a sharp drop in the price of Bitcoin after an internal error during an airdrop. At one point, the price of the first cryptocurrency on the platform was more than 10% lower than on other exchanges.
The incident occurred on February 6, 2026, when a platform employee mistakenly transferred about 2,000 BTC to users instead of the planned payments in South Korean won. The market value of the assets was estimated at approximately $133 million.
After receiving large amounts in Bitcoin, some users immediately began selling coins. The mass sale led to a sharp increase in supply on the platform and triggered a short-term price collapse. As a result, Bitcoin quotes on Bithumb temporarily decoupled from the global market, forming a noticeable discount. The exchange has not yet officially commented on the incident.
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