CryptoQuant Quicktake

An examination of the BNB chain cohort summary including contract reveals a marked downward trend in the number of active contracts on this blockchain since July 1, 2023.

A closer look at the different blockchain cohort sectors unveils a crucial insight:

The vast majority of BNB Chain’s contract activity is concentrated in the DeFi/Dex sector, while other categories (such as NFT, Foundation, etc.) are virtually inactive.

In effect, the recent decline in active contracts is directly attributable to a sharp decrease in activity within the DeFi/Dex space—a fact made clear by the chart.

Analytical and Risk Points:

Heavy concentration on DeFi/Dex:

Nearly all smart contract activity on BNB Chain is limited to DeFi/Dex. Any downturn or migration of projects from this sector is immediately and dramatically reflected in the network’s overall activity.

Systemic risk for the blockchain:

Such a high level of concentration makes the network highly vulnerable to shocks in the DeFi sector. Any negative developments—such as project migrations or a loss of confidence in DeFi—can rapidly push the network’s activity to new lows.

Lack of project diversity:

In recent months, there has been no significant growth in other sectors such as NFTs or Foundation projects on BNB Chain. This absence of diversification means the ecosystem lacks any cushion against sudden downturns in DeFi.

Summary and Recommendations:

For participants and investors:

Be aware of the risks associated with heavy reliance on a single sector, and closely monitor DeFi-related indicators.

For developers and network managers:

This is a serious warning for BNB Chain development and strategy teams. Immediate diversification and proactive efforts to attract new projects in various areas beyond DeFi/Dex are essential to protect the network from abrupt declines in activity.

Written by CryptoOnchain

This chart clearly illustrates the entry points of whales and retail traders. Based on the information it provides, the most recent wave of whale and retail activity occurred between 11 February and 6 May. During that period, the main pool of positions was accumulated; however, judging by profit-taking metrics, participants began actively locking in gains from mid-May through early June.

Historically, since 2020, almost every summer has seen a local bottom, followed by growth in autumn or winter. I don’t expect this summer to break that pattern, and it should offer an opportunity to accumulate positions closer to September.

Bitcoin has rebounded well after the drop triggered by the trade-war tensions, and the situation now appears to be improving—the market is giving off an optimistic vibe.

Written by Onchain School

This chart shows that the most recent price rally did not feature the abnormal, highly visible profit-taking spikes that previously triggered sharp market dumps.

Lately, the market feels the presence of institutional investors, with profits being taken more intelligently and methodically.

Since 20 April, profits have been realized in sizeable volumes but in a controlled manner, without massive dumps onto the market. Volatility is decreasing—perhaps thanks to tighter regulation—which seems to discourage investors from staging the huge pumps and dumps seen in the past.

Even so, any round of profit-taking is typically followed by a pull-back, so it pays to stay alert.

Written by Onchain School

Open interest in derivatives across exchanges has set a new all-time high alongside BTC’s price, underscoring the strong enthusiasm and solid prospects for the leading digital asset.

Still, the situation remains delicate, and investors are proceeding cautiously amid considerable economic and geopolitical uncertainty.

Any armed conflict involving the United States—or even negative talk about tariffs—tends to spark a pull-back and dampen market interest.

In the near term, we’re highly sensitive to the July 9 EU-tariff decision; everything looks fine so far, but with Trump you have to be ready for anything.

On the economic side, watch the U.S. national debt trajectory, upcoming corporate earnings, and potential surprises from the Federal Reserve. Each of these factors could heavily sway markets, including crypto.

Written by Onchain School

On-chain data from CryptoQuant reveals a sharp decline in Bitcoin reserves held on centralized exchanges, now at their lowest levels in several years. This ongoing outflow underscores a growing preference for self-custody and accumulation among investors, a pattern typically associated with reduced sell-side pressure and a long-term bullish outlook. A lower supply of readily available BTC on exchanges often sets the stage for potential supply-side shocks during periods of renewed demand.

That said, while dwindling reserves are historically correlated with major bull runs, they should not be viewed as immediate catalysts for short-term price rallies. Market conditions and liquidity dynamics still play a vital role, and without a corresponding uptick in demand, price corrections remain a possibility. In summary, the exchange reserve trend highlights strong foundational support for Bitcoin, but near-term price action may still be subject to broader macro or technical headwinds.

Written by ShayanMarkets

Exciting news for DeFi enthusiasts! The JustLendDAO Dashboard is now live, offering the market’s first comprehensive historical analysis of JustLendDAO, the leading lending platform on the TRON blockchain. Explore transparent, on-chain data to gain deep insights into borrowing, lending, and asset performance.

Dashboard Highlights:

Supply APY: Annual yield for users supplying assets.

Borrow APY: Annual interest rate for borrowing assets.

Market Cap: Total value locked across lending pools, reflecting protocol growth.

Transfer Volume: Daily token transfer activity, tracking market engagement.

Liquidity: Real-time fund availability for borrowing and withdrawals.

Reserve: Protocol reserves for solvency and stability.

Interest Rate Model (Supply/Borrow): Dynamic rates based on supply-demand utilization.

Utilization Rate: Percentage of deposited assets borrowed, showing market efficiency.

This dashboard is a game-changer, providing unparalleled historical insights into JustLendDAO’s performance, risk, and activity directly from TRON’s blockchain.

Check It Out!

Dive into the data and uncover actionable insights. Visit the JustLendDAO Dashboard to explore now!

🔗https://cryptoquant.com/community/dashboard/685cca9182527f390b5ccd66

Written by joaowedson

Netflow data from Binance is highlighting a clear divergence in altcoin behavior. While some tokens are experiencing outflows from the exchange, others are seeing strong inflows — both of which offer valuable insights into potential bullish or bearish setups.

According to Binance netflow, FET has seen significant outflows, followed by ILV, AMP, SLP, GTC, and DODO. These outflows suggest that investors are moving these assets off the exchange, possibly into cold storage or for long-term holding — reducing immediate sell pressure. As a result, these coins are more likely to generate bullish signals in the near future, with a higher probability of upward price movement.

On the flip side, the top altcoins flowing into Binance are MATIC, SNX, CHZ, ASMY, and AGLD. These inflows may indicate that investors are preparing to sell, increasing the likelihood of bearish price action or limited upside.

In Summary:

Altcoins with outflows (e.g., FET, ILV) tend to have a stronger potential for upward movement.

Altcoins with inflows (e.g., MATIC, SNX) may face increased sell pressure, reducing their likelihood of rallying in the short term.

In other words, when analyzing bullish signals, those accompanied by net outflows from Binance are generally more reliable. Meanwhile, altcoins with net inflows into Binance could be preparing for distribution, suggesting weaker bullish potential or even downside risk.

Written by BorisVest

MicroStrategy’s $420M Bitcoin Outflow: A Strategic Shift?

Recent on-chain data revealed a significant negative flow of Bitcoin from MicroStrategy’s reserves, with over 4,000 BTC—valued above $420 million—leaving the company’s wallets on June 24, 2025.

MicroStrategy, led by Michael Saylor, is renowned for its aggressive Bitcoin accumulation strategy, but its transfers to exchanges often signal potential selling intentions.

Historical patterns underline this: for example, on June 10, MicroStrategy moved over 13,000 BTC to exchange-related addresses, a transfer that likely led to substantial spot market sales. Such massive outflows typically inject heightened volatility and bearish pressure into Bitcoin markets, as market participants anticipate liquidation of these large tranches.

Binance Whale Inflow Surges $200M: A Countertrend?

In contrast to MicroStrategy’s outflows, Binance whale inflows spiked from $4.67B to $4.87B on June 27—a $200M jump in a single day. Whale inflows often precede price volatility, as large holders either prepare to sell or accumulate. The timing raises questions: Are whales capitalizing on MicroStrategy’s sell-off, or is this a bullish accumulation phase? The chart’s 30-day sum metrics highlight sustained exchange inflows, suggesting mixed sentiment among major players.

Conclusion: MicroStrategy’s Moves Reflect Caution:

MicroStrategy’s recent pattern of transferring large Bitcoin holdings to spot exchanges strongly suggests intentions to sell or reduce exposure, especially amid an environment of heightened geopolitical uncertainty. Such activity, combined with growing whale inflows to Binance, this could indicate potential price fluctuations as the market absorbs these transactions.

Written by Amr Taha

Bitcoin recently dropped from 110k to below 75k, but then recovered and even made a new all-time high at 112k.

However, the situation looks very different on the Bitcoin Blockchain.

1 - ACTIVE ADDRESSES: 🟡

These are addresses that are actively used to send or receive Bitcoin.

When Bitcoin dropped from 110k to 75k, the number of active addresses also fell sharply.

Even though the price recovered, the number of active addresses did not go back up.

2 - NETWORK ACTIVITY INDEX: 📉

This is a mix of different indicators: active addresses, transaction counts, total UTXOs, and number of bytes per block etc.

This index shows how active the Bitcoin network is.

Right now, it also shows low activity, just like the active addresses.

3 - MEMPOOL: ⏳

The mempool is where unconfirmed transactions wait for miner approval.

You can think of it as a "waiting area" for Bitcoin transfers.

Looking at the current data, the mempool is nearly empty — there are very few pending transactions. Sometimes, the mempool can be low because of technologies like SegWit or batching.

But when we also see a drop in Active Addresses and low Network Activity,

it clearly shows that the reason is a lack of interest.

✅ CONCLUSION:

Besides on-chain data and technical indicators can also give bullish or bearish signals.

But the low activity on the Bitcoin blockchain is not a good sign.

It shows a serious "lack of interest" from RETAIL investors.

These days, people's interest in Bitcoin is very low.

So we must closely follow global economic conditions and monetary policies,

as these could stimulate and bring back investor interest and increase risk appetite.

Written by CryptoMe

[Context]

The last Quicktake article covered the escalating whale presence on Binance, mirrored by CryptoQuant's (CQ) whale ratio metric. By my estimate, the whale ratio has increased up to 400 percent since summer of 2023.

[40% of Binance’s Inflows Between 10-100 BTC]

Now let's take a closer look at CQ's Binance-related data, and explore the exchange inflow - spent output value bands (%) metric. The largest cohort here is the inflow of 10-100 bitcoins, representing a 40 percent share. Meanwhile, the whale-level cohort of 100-1K bitcoins remains at 20%.

[Whale-Level Inflows Spike in Mid-June]

When assessing the data, we're seeing another phenomenon in mid-June: Whale-level transactions (10K BTC) spiked on June 16th, representing 83 percent of all inflows. This further supports my previous thesis about the escalating whale presence on Binance.

[How to Interpret the Data]

The on-chain transactions in the 10-100 BTC range are typically associated with high-net-worth individuals (HNWIs), small institutional investors, or large retail traders. These segments are larger than typical retail transactions (<10 BTC) but smaller than whale transactions (>100 BTC, usually >1,000 BTC).

40 percent of Binance’s inflows in this range suggests that a notable portion of bitcoin deposits are driven by mid-tier investors rather than retail or large whales. This could reflect a more democratized market participation.

[Further Thoughts]

Today, Binance handles nearly 50 percent of total digital asset trading volume and saw $21.6 billion in user fund deposits in 2024, 40% higher than the next ten exchanges combined. The average bitcoin deposit size on Binance increased from 0.36 BTC in 2023 to 1.65 BTC in 2024, indicating growing institutional participation. However, the 10-100 BTC inflow range suggests mid-tier investors still retain a significant role.

Written by oinonen_t

Ethereum has recently staged a significant recovery, successfully breaching and re-testing the critical $2500 price level.

This upward trajectory has been accompanied by a notable shift in market dynamics.

Implications of Positive Funding Rates:

* Binance reveals a notable shift in ETH funding rates from negative to positive territory.

* Positive funding rates typically indicate :

- Leveraged longs : Traders are aggressively opening or holding long positions, likely anticipating further upside.

- Potential overheating: While positive funding rates reflect optimism, they also raise the risk of a short-term correction if longs become overextended.

The Role of Short Squeezes in ETH’s Rally and Funding Rate Surge :

* As the price climbed, it retested the previous short squeeze zone.

* In that earlier event, short positions were forcibly closed by initiating aggressive market buy orders to cover their exposure, triggering a cascading effect known as a short squeeze.

* This dynamic occurs when traders who had bet against ETH (shorts) are forced to close their positions by aggressively buying back the asset to limit losses.

ETH Inflow to Binance :

* Meanwhile, on-chain exchange data revealed a total of 177,000 ETH deposited over three consecutive days.

* Such a surge in inflow typically signals increased selling pressure or large-scale repositioning by major holders, as ETH moves onto exchanges are often a prelude to potential sell-offs or liquidity provision.

Short-Term Outlook: Correction Likely, But Bullish Structure Intact :

Ethereum’s strong rebound above $2,500, underscores the aggressive speculative activity driving recent price action.

However, the simultaneous three-day inflow of 177,000 ETH onto Binance suggests looming selling pressure, increasing the odds of a short-term correction as the market seeks to normalize overheated funding dynamics.

Traders should watch funding rates and exchange flows closely for signs of an impending retracement

Written by Amr Taha

Since September 2023 and the end of the bear market, the Tron blockchain has made a strong comeback, clearly visible through the rise in daily transactions, accompanied by an upward trend in TRX price.

- Back in September 2023, the monthly average number of transactions on Tron has not exceeded 5 million. Today, it's approaching 9 million.

Simply put, the number of transactions has almost doubled, and this growth has been beneficial for the price of TRX, especially since the decision to slightly increase network fees.

- Since gas fees are paid in TRX, the steady growth in transaction volume, combined with the slightly higher fees now being paid in TRX, is creating a positive impact on TRX’s price action, driven by functional demand.

- But don’t be mistaken, Tron still holds its position as the go-to blockchain for USDT transfers and transactions.

Even after the fees adjustment, costs remain relatively low with an excellent execution speed, and a transaction success rate of over 96%.

Written by Darkfost

These are not the best days for the Ethereum network. Its token struggles to lead the much-anticipated Altseason. However, the network itself is experiencing a notable surge in activity.

Using the metric “Ethereum: Transaction Count (Total)”, which includes all confirmed transactions on the network (ETH transfers, smart contract executions, DApp interactions, DeFi operations, etc.), we can observe the actual usage of the network. On June 25, Ethereum recorded 1,750,940 confirmed transactions, marking the third-highest daily transaction count in the network’s history.

This spike in activity suggests that, despite price weakness, Ethereum is still being actively used by its community.

Such a high number had not been seen since January 14, 2024, when the network hit its all-time high with 1,961,144 confirmed transactions. Since then, activity declined steadily—until this recent move, which breaks the prolonged downward trend.

In the past month, ETH’s price has fluctuated between $2,879.22 and $2,111.89, showing considerable volatility. This behavior may be fueling increased network usage, especially from traders, DeFi protocols, and arbitrage bots adjusting their positions in real time.

This rise in transactions could be signaling an on-chain revival on Ethereum—one not yet reflected in price, but potentially an early sign of accumulation, development, or renewed DeFi movement.

Institutional and retail interest in Ethereum has also remained steady, as evidenced by the stable ETH holdings on exchanges and growing activity in Layer 2 networks like Arbitrum and Optimism, which continue to settle a significant portion of daily transactions. These developments reinforce Ethereum's pivotal role in the broader crypto ecosystem and suggest that the network’s recent on-chain spike is not an isolated event, but part of a deeper structural recovery.

Signed by Carmelo Alemán, Verified On-Chain Analyst at CryptoQuant

♦️ X: @oro_crypto

♦️ Email: [email protected]

Written by Carmelo_Alemán

Bitcoin Spot ETFs: Traditional Money is All In

As of now, Bitcoin Spot ETFs hold a total of 1.23 million BTC. Considering the current circulating supply of 19,883,881 BTC, this means ETFs now hold about 6.2% of all Bitcoin in circulation. That’s a massive chunk.

📉 Excluding GBTC, the average entry price of ETF holdings is around $73,600 — a key support level in case of a major correction.

📊 The current MVRV ratio for ETFs is 1.43, indicating modest profitability. Historically, Bitcoin tends to peak when MVRV reaches around 3.7, meaning there’s likely still room for upside.

That said, ETF investors are not degen traders. They are traditional, institutional players — and might take profit with much lower risk appetite. A 50%–75% gain might be “enough” for many of them.

🪨 And yes, BlackRock dominates the game with 692,876 BTC under management. They are the rock.

📌 Conclusion:

Over 6% of Bitcoin’s circulating supply is now locked inside ETFs, creating serious supply pressure. While most ETF investors are still holding strong, the average entry price at $73K means a lot of them are sitting on thin profits. The trend is still bullish — but with cautious optimism. We need to watch ETF's MVRV closely.

Written by burakkesmeci

This week brings a key signal from LTH that shouldn't be overlooked.

The chart shows the monthly net change sum in the supply categorized as LTH.

But my opinion is that this term can be misleading, it’s not the address that matters, but rather the age of the coins held. In reality, “Long-Term Supply” would be a more accurate label.

Supply is considered long-term held only if the coins have remained unmoved for more than 6 months. In other words, a coin must remain untouched for half a year before being classified as LTH. —

That being said, the current surge in this long-term supply, while BTC trades above $100 000, clearly shows a strong will to hold.

And for good reason as coins that are now entering the LTH category were all purchased in the $95 000 – $107 000 price range.

In Bitcoin’s entire history, such a strong commitment to holding has only occurred 6 times. This makes it a powerful signal that should absolutely be factored into any strategy.

Written by Darkfost

Binance dominates the Bitcoin and Ethereum perpetual futures market among crypto exchanges measured by Open Interest (OI). The exchange open interest share is at 30% for Bitcoin and 31% for ETH, equivalent to $9.8 billion and $5.1 billion respectively. Other exchanges with high OI include Bybit, Gate.io, HTX and OKX.

Binance shows the faster OI expansion in periods where Bitcoin and ETH rally significantly, indicating that traders heavily use the exchange to gain Bitcoin and ETH exposure. For Bitcoin, this was the case in November 2024 and may 2025, as the price crossed the $100K mark and reached new all-time highs. In the case of ETH, Binance showed the fastest OI expansion in the same periods as the price rallied 73% and 44% respectively.

Binance also shows the most activity amid market volatility. On June 21, as geopolitical tensions in the Middle East suddenly escalated, Binance showed by far the largest decrease in OI as prices fell– $2.1 billion–, indicating traders closed their long positions in order to take profits off the table.

A high open interest suggests deep liquidity, attracting large traders due to better execution and tighter spreads. It reflects trader confidence in the platform's reliability, fees, execution speed, and available leverage.

Written by CQ Research

The recent fluctuations in Bitcoin's price, combined with notable changes in open interest, indicate a need for traders to exercise caution.

1. Binance Open Interest (OI) Hits 6% for the Third Time in Two Months :

* Recent data from Binance indicates that the 24-hour Open Interest (OI) percentage change has surged above 6% for the third time in two months (May–June 2025), highlighting a significant pattern.

* This pattern suggests historically coincided with areas of profit-taking as highlighted on the chart.

* The previous instances around May 26th and June 10th saw subsequent dips or consolidations in the Bitcoin price.

* This recurring pattern suggests that large inflows into leveraged positions often precede periods where short-term gains are realized, leading to potential price pullbacks or sideways movement as market participants de-risk.

2. Sharp Decline in Long-Term Holder (LTH) Net Position Realized Cap :

* The LTH Net Position Realized Cap—a metric tracking the realized value of Bitcoin held by long-term investors—has plummeted from over $57 billion to just $3.5 billion.

This dramatic reduction indicates that:

- Long-term holders are taking profits, reducing their exposure to Bitcoin after significant price appreciation.

- Market sentiment among LTHs is shifting, possibly due to macroeconomic.

* Their actions often reflect a more strategic and informed view of market conditions, making their reduced exposure a notable signal.

Market Implications: Caution Ahead, But No Immediate Bearish Signal

While the decline in LTH holdings and the repeated OI spikes suggest heightened market activity, they do not necessarily guarantee an imminent Bitcoin price drop.

Instead, these signals highlight:

* Potential near-term profit-taking zones, where traders may lock in gains.

* Increased speculative activity, which could lead to short-term volatility.

Written by Amr Taha

This bubble chart, based on total exchange trading volume, visualizes the market. The size of each circle represents trading volume, while the color indicates the rate of volume change.

Decreasing volume: Cooling

Little to no change: Neutral

Increasing volume: Overheating

Sharp increase: Extreme Overheating

Currently, Bitcoin is near its all-time high, but the market shows a cooling trend without signs of overheating.

To break past its all-time high, macroeconomic catalysts like interest rate cuts or regulatory easing may be needed. However, the market has already established a stable foundation.

Thus, a strategy of patience, keeping an eye on major market events, and waiting for opportunities seems promising.

Written by Crypto Dan

Bitcoin’s supply is flowing upstream away from weak hands toward big money.

Latest on-chain snapshot reveals 👇🧵

1.Retail (<1 BTC):

📉 1.69M BTC (↓ 54.5K BTC YoY)

Avg. outflow: ~220 BTC/day

🧠 Correlation with price (12m): –0.89

2.Large Holders (≥1K BTC):

📈 16.57M BTC (↑ 507.7K BTC YoY)

Avg. inflow: ~1.46K BTC/day

🔗 Correlation with price: +0.86

3.Institutions are absorbing ~7× more BTC than retail is selling.

Post-halving issuance? Only 450 BTC/day.

📉 Supply squeeze is real.

4.Retail FOMO hasn’t kicked in yet.

Unlike past tops, small holders keep selling.

🧨 Signal that the bull run still has room.

🔍 Data source: @cryptoquant_com

Written by IT Tech

On June 24, Binance’s Net Taker Volume surged above $100 million for the first time since June 9.

While the bullish spike in Binance Net Taker Volume may indicative of robust buying momentum, such surges are often attributed to aggressive retail buying or the forced unwinding of over-leveraged short positions.

In these instances, the spike does not necessarily signify sustainable demand but rather short-term volatility caused by liquidations or speculative FOMO.

This milestone aligns with total stablecoin net outflows from derivative exchanges surpassing $1.25 billion, representing the largest capital withdrawal from these platforms since mid-May.

Federal Reserve Chair Jerome Powell Hints at Rate Cuts :

* during the second day of his semiannual testimony before Congress, Federal Reserve Chair Jerome Powell stated that “future commercial agreements could allow the Federal Reserve to consider cutting interest rates.”

* This marked a notable shift in tone, hinting at potential monetary easing if certain economic conditions align.

Swiss Franc Hits Multi-Year High as Safe-Haven Demand Surges :

* The Swiss Franc (CHF) broke above 1.24 against the USD for the first time in years, reinforcing its reputation as a traditional safe-haven currency during times of global economic or geopolitical uncertainty.

Decline in U.S. 2-Year Treasury Yields :

explained on chart.

Conclusion: Is Bitcoin on the Verge of a Pullback?

* Jerome Powell’s recent indication that the Federal Reserve may begin considering rate cuts introduces macroeconomic uncertainty and signals a possible shift toward risk-off sentiment.

* The $1.25 billion withdrawal of stablecoins from derivative exchanges considerably undermines the structural support for new long positions. Without an influx of fresh capital into leveraged products, this has historically served as a precursor to market corrections.

Written by Amr Taha