On-Chain Data

U.S. spot Bitcoin ETFs faced their biggest outflow on March 26, with daily withdrawals exceeding $170 million. Ark Invest sharply reduced its holdings of its Bitcoin ETF; market volatility triggered short-term profit taking. Analysts say institutions remain cautiously optimistic about crypto, though they are affected by broader macroeconomic factors. Ether ETFs are also seeing ongoing outflows, setting the longest bleeding record.

Ethereum treasury company Bitmine Immersion Technologies increased its holdings by 71,179 ETH last week, and currently holds 4,732,082 ETH and 197 BTC, with staked ETH totaling approximately $6.3 billion in value.

Multicoin co-founder Kyle Samani deposited $10 million worth of PRIME into Kamino Finance, used it as collateral to borrow $8.6 million in USDC, and earned an annualized return of 39.4%, while PRIME’s annualized return rate was 56.4%.

The Ethereum Foundation staked $46 million worth of Ether on March 30, setting a new all-time daily high record, and plans to actively deploy its capital to generate returns and support the long-term development of the Ethereum ecosystem. Currently, it still holds about $302 million worth of Ether.

In the past 7 days, CEX A had the largest drop in its BTC wallet balance, decreasing by 6.7%, while CEX B grew by 2.07%. In terms of net outflows, CEX C led with $1.184 billion, followed by CEX D and CEX E. CEX F, meanwhile, recorded a net inflow of $69.66 million.

The Ethereum Foundation has staked over 20,000 ETH, marking its largest staking effort to date, as part of a strategy to generate yield for operational funding. Despite current low yields, this initiative aims to transform reserves into a sustainable income source.

In Q1 2026, decentralized exchange (DEX) trading activity fell to its lowest level in nearly a year, with trading volume largely flat compared with 2025. The share of DEX trading volume in centralized exchange volumes dropped to 14.1%, and Solana led with $11.42 billion in average daily trading volume.

The average weekly trading volume in the cryptocurrency market has fallen to $90 billion, a decrease of 7% from the mean, indicating that activity has dropped to levels seen during the bear market of 2022; Ethereum gas fees have fallen to historic lows, reflecting a contraction in on-chain activity. Both Bitcoin and Ethereum trading volumes are below the average, with funding rates recovering but still at low levels. The market is currently in a quiet state, lacking clear catalysts.

According to data from research firm 10x Research, this week’s cryptocurrency market trading volume hit the lowest level since 2022. Total market capitalization was $2.3 trillion, down 1.7% from the previous week. Bitcoin and Ethereum’s weekly trading volumes also declined, while network fees and funding rates both increased.

Gate News reports that on March 30, according to Arkham data, eight minutes ago, 7,269.67 ETH (worth about 14.84 million USD) was transferred from Ceffu to a certain CEX.

The Bitcoin mining industry is facing major difficulties because the coin price has fallen to $68,000, while mining costs are as high as $88,000, causing miners to lose money and gradually exit the market. Soaring energy prices and heightened geopolitical risks are affecting hash rate and profitability. Mining companies are pivoting to move into the AI sector in hopes of securing stable cash flow.

Ethereum’s tokenized asset ecosystem has seen rapid growth, but the network’s expansion has highlighted inefficiencies across its layer-2 infrastructure. A new initiative, the Ethereum Economic Zone (EEZ), has been launched to address fragmentation and streamline interoperability across these networ

The total value locked (TVL) of the decentralized stablecoin USDD across the entire network has surpassed $1.93 billion, increasing by $500 million recently and setting a new all-time high. USDD ranks 9th in the stablecoin market, attracting capital inflows thanks to its overcollateralization and 1:1 redemption mechanism.

The Ethereum Foundation significantly increased its staking efforts in March 2026, with a single staking amount reaching $46.2 million, setting a historical record. This shift marks a change in its fund management strategy, with staking yields being used for protocol development and ecosystem building, while also reducing market selling pressure risks.

In March 2026, the on-chain macro trading activity increased, with the Hyperliquid platform's daily trading volume reaching $5.4 billion, and commodities like silver and crude oil becoming active. On-chain trading expanded to traditional indices like Nasdaq, featuring a 24-hour trading mechanism, but insufficient liquidity remains a challenge, and more asset classes may go live in the future.

Latest data shows that net inflows of stablecoins on mainstream platforms have reached about $2.4 billion, indicating a capital flow back into the cryptocurrency market. However, trading activity remains sluggish, and market sentiment is cautious. Analysts point out that the reallocation of funds may signal positioning, but the actual trading volume has significantly declined, reflecting that risk appetite has not recovered and market fragility has increased. The macro environment affects conservative capital, and the future trend depends on the recovery of trading volume and risk alleviation.

On-chain research firm Glassnode reports that the 24 validators of the decentralized perpetual contract exchange Hyperliquid are concentrated in the AWS Tokyo region, resulting in significantly lower latency for local traders compared to users in Europe and the United States, leading to unequal execution. The report analyzes the impact of geographic location on trading speed and points out the contradiction faced by decentralized architectures: while maintaining openness, the actual results create unequal participation conditions.

According to on-chain analyst Darkfost's data, net inflows of stablecoins to major cryptocurrency exchanges reached $2.4 billion, indicating a reversal in capital flow trends. However, at the same time, spot trading volume plummeted from $81 billion to $3.5 billion, showing that investors have not converted these funds into position-building actions, which has instead created market fragility. The impact of the macroeconomic environment has led to a decline in market participation, and changes in market sentiment in the future may bring about significant volatility.

Gate News bot message, The Ethereum Foundation has staked 22,517 ETH, valued at $46.25 million. This transaction represents a direct commitment by the foundation to Ethereum's proof-of-stake network.