#链上数据洞察

🔍 On-chain data is the "perspective lens" of the cryptocurrency market! Recently, key signals have frequently appeared in Bitcoin on-chain activities: whale addresses (holding more than 1,000 BTC) have increased their holdings by about 21,000 in the past week, while the exchange's BTC reserves have fallen to a four-year low, which may indicate that long-term holders are bullish.

📊 Ethereum on-chain data is also worth paying attention to - Gas fees continue to hover at a low level, reflecting the current slowdown in DEX trading activity, but the average daily trading volume of L2 networks (such as Arbitrum and Optimism) has increased by 35% against the trend, indicating that ecological funds are turning to low-cost and high-scalability scenarios.

💡 Among on-chain indicators, the divergence between NUPL (unrealized net profit and loss) and MVRV (market value/realized value) often indicates a risk of a change in the market. The current Bitcoin MVRV ratio has risen above 1.5. If it breaks through the key on-chain cost price (about US$38,000), it may trigger a new round of FOMO sentiment.

🌐 Analysts remind: On-chain large transfers and "intensive periods" of inflows to exchanges are often strongly correlated with short-term price fluctuations. It is recommended to combine multi-dimensional data for cross-validation. (Note: This article only focuses on the topic of #链上数据Insights and does not constitute investment advice.)