Ethereum

On 06 February, after three sessions of outflows, crypto markets saw a single-day swing above 10%, and Solana began outperforming Ethereum on several metrics. Solana’s perpetuals volume reached $12.1 billion versus Ethereum’s $9.6 billion, while its stablecoin market rose 8.5% versus 0.2%. The SOL/ETH ratio hovered near 0.04, a historically important area.

Ethereum’s decline below the $2,000 mark has shaken sentiment and dragged broader altcoin prices lower, prompting heightened fear among traders. Crypto analyst ChainHub argues that market conditions now resemble downside exhaustion, with the ETH/BTC structure still intact and major demand zones forming around $1,700 for ETH and across several altcoins. He links this view to Bitcoin’s retest of its summer 2024 demand range and suggests the market could soon transition into a consolidation phase before attempting a bullish recovery.

In early February 2026, Ethereum’s exchange reserves fell to around 16.3 million ETH, a multi-year low associated with growing staking and off-exchange custody. At the same time, whales were seen accumulating during a price dip near $2,050, while derivatives data showed shrinking open interest, negative funding, and over $1 billion in long liquidations. This combination points to tighter tradable supply and lower leverage, while leaving room for future volatility.

Analysts on X, including Kamile Uray, say ETH is tracing a weekly Libra setup that remains valid while the candle is open, with invalidation below $1,388 and upside levels near $3,445 and $4,956. Can Özsüer reports price around $2,086 after a ~22% rise from $1,730, highlighting $2,475 and $1,950–$2,000 as key levels.

On 6 February 2026, Bitcoin ETFs saw roughly $331 million in net inflows, while Ethereum products registered about $21 million in net redemptions and Solana funds also posted withdrawals. XRP spot ETFs stood out with approximately $15 million in net inflows, underscoring a preference for Bitcoin and select altcoins over broader crypto exposure.

Ripple joined a White House meeting on stablecoin rules with major crypto and banking firms, focusing on yield and rewards. Trader Peter Brandt warned of a structured Bitcoin sell-off, while CZ rejected manipulation claims. Elon Musk reiterated his long-standing goal of sending Dogecoin to the Moon, and on-chain data shows Vitalik Buterin-linked wallets actively trading thousands of ETH during a sharp Ethereum downturn.

On Feb. 7, 2026, Trend Research moved 772,865 ETH ($1.8B) to Binance at $2,326 after previously withdrawing 792,532 ETH ($2.59B) at $3,267, leaving 21,301 ETH and an estimated $747M loss. The capitulation followed ETH falling to a Feb. 6 low at $1,742, and the token later rebounded to $2,012, still 24% lower on a weekly basis.

Bitcoin's volatile week included a drop from $77,000 to $60,000 between Thursday and Friday, a recovery attempt toward $72,000, and a pullback near $68,000. Ethereum rebounded to $2,010 after slipping below $2,700, while SOL, BCH, XMR, XRP, TRX, DOGE, and ADA advanced. The total crypto market value added over $100 billion to reach $2.4 trillion.

On 7 February 2026, Coinbase adopted the Sui token standard, adding native infrastructure support for SUI-based assets alongside Ethereum and Solana. Coinbase said the decision reflects Sui's strong developer activity and technical maturity. Following the announcement, SUI traded around $0.9726, up ~3%, with market cap near $3.7 billion and 24-hour volume close to $1 billion.

Trend Research rapidly reduced its Ether position by more than 400,000 ETH and sent large amounts of Aave-wrapped ETH to Binance within a week to manage leveraged debt exposure. Over the same downturn, Ether nearly fell 30%, putting Trend Research’s collateral at risk of liquidation and leaving BitMine Immersion Technologies with more than $7 billion in unrealized losses on its 4.28 million ETH treasury.