Recently, the cryptocurrency market has been unstable, especially the movements of Ethereum and several major altcoins, with many details worth noting. Whether you are a new player or an old friend, the following information and trends are worth taking a few minutes to understand.

The Ethereum Foundation has again reduced its holdings: $50 million worth of sales, but still holds nearly 200,000 ETH.

Since April, the Ethereum Foundation has gradually reduced its ETH holdings, having conducted 21 withdrawals to date, with a total outflow of over $52.82 million. The latest transaction was in early July, transferring out 1,000 ETH, worth approximately $2.51 million at that time's market price.

However, don't panic; they still hold more than 196,000 ETH, worth about $495 million. This wave of selling may be for project funding use or a proactive response to market adjustments. In other words, they may be hedging risks or preparing cash, rather than being completely bearish.

Derivatives data: There is an 'invisible hand' supporting the market above $2500.

From the on-chain derivatives data on July 6, the ETH spot CVD (90 days) remains dominated by buying, indicating that there is still a certain level of active buying force in the market.


In other words, even if the foundation continues to sell, retail and institutional investors in the market are still steadily accumulating, especially at the critical position of $2500. Many traders expect a rebound in the future, so they are positioning themselves with low-level chips.

Newcomers are entering, but active users are decreasing: the user structure of Ethereum is obviously diverging.

On-chain data shows that the number of new wallet addresses for Ethereum has recently increased by 6.2%, indicating that more newcomers are entering the market; however, at the same time, active addresses have decreased by 3.3%, and addresses with zero balance have also decreased by 8.5%.


This reflects a signal: speculative sentiment is heating up, but the activity of long-term users is declining. This may affect the future on-chain demand growth for ETH, which is worth paying attention to for medium to long-term investors.

Position changes: large holders are reducing their positions, while small holders are increasing theirs, and ETH chips are becoming 'democratized'.

In the past 30 days, the holding structure of Ethereum has also seen significant adjustments:

Whale addresses (large holders) decreased their holdings by 0.58%.

Small and medium investors have increased their positions by 5.68% and 1.18% respectively.


This means that some major funds are withdrawing, but small and medium investors are taking the opportunity to buy at low prices, leading to a gradually decentralized chip structure. Although it is more democratic, it also means that the short-term rise lacks large upward momentum.

Altcoins are generally rising, with DOGE leading the way, while TON suffered a significant drop due to rumors.

Driven by the overall rebound, mainstream altcoins have welcomed a small climax:

ETH: +2.6%

SOL: +3%

HYPE: Approaching the $40 mark.

DOGE: Up 5%, breaking through $0.17

Among them, DOGE performed the brightest, leading other major cryptocurrencies in terms of growth. However, there is an exception: TON fell nearly 6% due to the UAE official's denial of rumors about 'Golden Visa binding Toncoin.'

As of now, the overall market capitalization of the crypto market has increased by over $40 billion, reaching $3.44 trillion, and market sentiment is gradually recovering.

DOGE whales have significantly increased their holdings by 112%, possibly preparing for the next wave of market activity.

Although DOGE's price has not experienced a major explosion recently and remains in a range of fluctuations, on-chain data reveals a strong buying force:

Within the last week, the net purchases of DOGE whales (large holders) surged by 112%.

This indicates that some funds are quietly accumulating, possibly waiting for the next opportunity to explode. Combined with the current trend of the Meme sector gradually heating up, DOGE is worthy of high attention in the future.


ETH is fluctuating, DOGE is gaining strength, and the division within the cryptocurrency camp is beginning to show.

Overall, this round of the market reveals several key signals:

The Ethereum Foundation's reduction continues, but it has not crashed the market; the market's willingness to take over remains strong, and short-term support is still effective;

User structure has become fragmented: new users are flooding in, but the activity of old users is declining, and the speculative nature is increasing;

Large holders are reducing their holdings, while small and medium funds are entering, accelerating the market's 'decentralization', but there is a lack of main force control or upward momentum;

The bullish sentiment in the altcoin sector is rising, with DOGE moving at an independent pace, while TON has significantly corrected due to negative news;

Whales continue to accumulate DOGE, potentially laying the groundwork for the next phase of the market.

Suggestions (for reference only):

For ETH, the short-term suggestion is to closely monitor whether the support around $2500 can hold.

For DOGE, it is advisable to pay attention to the trend of on-chain accumulation and wait for news catalysts;

For altcoins like SOL and HYPE, it is suitable to buy low according to the trend, and chasing high is not recommended;

For market rhythm, it is important to remain flexible, making decisions based on news while combining on-chain data.

Still the same saying, if you don't know what to do in a bull market, click on the avatar of Kuige, follow for planning in bull market spot, contract passwords, and share freely.

Continue to pay attention: $ETH $SOL $DOGE #现货与合约策略 #币安Alpha上新