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Gate on-chain observation ( August 28, ): stablecoin issuance exceeds 1.25 billion coins, Bitcoin OG Whale cashes out in large amounts for the first time in 12 years.
In the past 24 hours, on-chain data shows a divergent market behavior: Bitcoin OG whales and the Ethena project party multi-sig addresses have seen large cash-outs, while Ethereum (ETH) has attracted ongoing Build a Position from multiple whale addresses. At the same time, the large-scale issuance of stablecoins and the dramatic Fluctuation of niche tokens like XPL have collectively created a complex situation of intertwined long and short positions. The large-scale ETH hoarding behavior of BitMine Company is particularly noteworthy, indicating institutional optimism for ETH in the long term.
OG4.06%