On-Chain Data

When a single address used 20x leverage to establish a WTI and Brent long position totaling $43.7 million in reverse in response to a pullback in oil prices triggered by the ceasefire news, it indicated a view that a ceasefire agreement would be difficult to achieve. As activity in the Hyperliquid platform derivatives market increased, Ripple Prime integrated it, attracting institutional investors and driving growth in HYPE demand.

On April 1, on-chain data analyst Yu Jin detected that an address suspected of manipulation, labeled as SIREN, spent 144,000 USDT to buy back 500,000 SIREN. About 15 days ago, the address had sold the same amount of tokens at $0.947 per token. After this low-price replenishment, the address’s book net profit is about 329,000 USDT. Currently, the address still holds about 645 million SIREN.

The cryptocurrency market is facing a cold wind: nearly half of Bitcoin has already fallen below its cost basis, and long-term investors have also begun to realize losses and sell. The Bitcoin Impact Index rose to 57.4, indicating that market pressure is intensifying; historically, similar situations have signaled that large-scale sell-offs are about to come. Short-term holders are down 47%, capital momentum has weakened, and stablecoin outflows have turned into net inflows in reverse.

Gate News message, April 1, Polygon co-founder Sandeep Nailwal said in a post on the X platform that Polygon’s stablecoin transaction count reached 159.9 million last week, setting a new all-time high. At the same time, key metrics such as Polygon on-chain stablecoin transaction volume and the number of active addresses also rose in parallel. In addition, Polygon PoS

Ethereum co-founder Vitalik Buterin recently sold Meme coins he was about to gift in exchange for 14.5 ETH, and converted 197,944 USDC into the Swiss franc stablecoin ZCHF. This move reflects his typical operating pattern targeting Meme coins and may also be a hedge against USD risk. Additionally, he also conducts private transfers through Railgun, supporting the development of financial privacy technologies.

On April 1, Arkham analyst Emmett Gallic disclosed that a cryptocurrency exchange has not yet repaid a BTC loan of 4,619 BTC, worth approximately $314 million, with an annual fee rate of 4%-8%, no fixed maturity date, and lenders able to demand repayment at any time. Historically, the exchange has borrowed more than 11,000 BTC and 133,000 ETH.

2026-04-01 03:00 to 2026-04-01 03:15 (UTC), BTC fluctuated in the 67,663.9 to 68,103.8 USDT range. The candlestick return rate recorded +0.49%, with an amplitude of 0.65%. During this period, market attention warmed up, with on-chain activity and trading volume increasing in tandem. Heightened short-term capital inflows and outflows triggered mild price fluctuations, and traders’ sentiment turned more cautious. The main driving force behind this unusual move was dominated by institutional fund flows, including whales and institutions making large transfers to exchanges and withdrawals within 10 minutes; meanwhile, whales also transferred large amounts to the exchange and moved funds out to other addresses, indicating active capital repositioning during this period.

2026-04-01 03:00 to 03:15 (UTC), the ETH price saw unusual movement, with a range return of +0.62%. The lowest point of the candlestick was 2088.43 USDT, and the highest point was 2106.93 USDT, with a swing of 0.89%. Against the backdrop of heightened volatility across crypto assets, ETH’s short-term trading activity was active, on-chain interest increased, and market attention rose significantly. The main driver behind this unusual move is that net inflows into U.S. spot ETFs have continued to be amplified. ETF net inflows in early April continued the strong momentum from late March, driving a significant increase in spot demand for ETH.

Google research shows that the number of qubits required to break Bitcoin could be lower than 500,000—far below expectations—which puts about 9.0 million BTC at potential risk. Quantum computers can intercept transactions within “9 minutes,” and especially after the Taproot upgrade, many wallets are exposed to attack risk. This serves as a reminder that the crypto industry needs to guard against quantum threats as soon as possible.

Bitcoin’s price is nearing the “buy zone” the market is watching, but the bottom signals have not fully formed yet. The current price is above the cost range, suggesting the market hasn’t undergone a major cleanup. The premium continues to narrow, reflecting that the bubble is being worked off. Although the market may face pressure in the short term, funds are positioning early, indicating optimism about future prospects.

XWIN Research’s analysis indicates that Bitcoin underwent a structural supply shift in the first quarter of 2026, with an increase in the exchange whale ratio. This suggests that large holders are selling Bitcoin, while publicly listed companies such as MicroStrategy have net-bought 62,000 Bitcoins. The market shows a dual trend of exchange whales and corporate accumulation: supply has shifted from early investors to companies’ balance sheets, and market liquidity has not improved significantly.

Gate News message: On April 1, according to Arkham monitoring, yesterday (March 31), about 15 hours ago, BlackRock transferred 4,833 ETH to a certain CEX address through its Ethereum exchange-traded fund ETHA; valued at approximately $9.78 million. Subsequently, it transferred 204.045 BTC to a certain CEX address through its Bitcoin exchange-traded fund IBIT; valued at approximately $13.53 million.

Gauntlet's post states that after Resolv Labs experienced a vulnerability, they did not propose any remediation measures. They have already removed multiple vault markets, involving approximately $11.9 million in liquidity, and plan to establish a claims contract to recover the assets.

On April 1, XRP was trading at $1.32, attempting to stabilize after five months of continuous declines. On-chain data shows that the number of XRP leaving exchanges has been steadily increasing, especially with 7.03 billion coins flowing out in February. The behavior of institutions and whales has diverged: whales are accumulating assets, while institutional capital has seen outflows. The market needs to watch whether support at $1.27 holds. If that support is broken, it could trigger a deeper pullback.

Gate News update: On April 1, according to on-chain data monitoring, digital asset management firm CoinShares transferred 10,720 BTC to new wallets over the past two days (worth approximately $720 million), setting its all-time largest outflow.

Bitcoin (BTC) was flat at $68,060 on April 1, and U.S. President Trump said he will end the Iran war. The Bitcoin miner Bitfarms plans to change its name to Keel and sell $161 million worth of Bitcoin. Stablecoin issuer Tether fired two precious-metals traders. U.S. stocks rebounded, and all three major indexes hit new highs. Market sentiment fluctuated with news of the Iran war, so it’s necessary to carefully control investment risk.

Solana token SOL has recently fallen by about 11%, repeatedly testing the $80 support level as the market worries it could retrace to $75. Despite network fees continuing to decline, Solana remains appealing for ecosystem development, with DApp revenue surpassing Ethereum. Overall market performance is poor, but SOL continues to face pressure.

Gate News message: On April 1, according to Onchain Lens monitoring, two newly created addresses jointly withdrew 9,519 ETH from a certain CEX, worth approximately $20 million.

A Chainalysis report says that cryptocurrencies have become part of the supply chain in the Russia-Iran war, and that pro-Russian groups raised $8.3 million since 2022 for drone procurement. Fundraising was carried out through a crowdfunding format, and on-chain data can be used to track the flow of funds, showing a link between small transactions and military equipment. Although oversight is difficult, blockchain transparency makes it easier to analyze where the money goes, and it reveals anomalous fund flows in geopolitics.

Between 2026-03-31 18:00 and 18:15 (UTC), the ETH price moved in a range within a 0.71% amplitude (2093.36 - 2108.15 USDT), with a return of +0.69%. During this period, market attention increased, short-term buyers held the upper hand, and heightened price volatility drew close scrutiny from investors. The primary drivers behind this move were the rapid inflow of funds into the derivatives market and an expansion in trading volume. In March 2026, ETH derivatives trading volume remained consistently higher than spot, and leveraged capital was active, lifting risk appetite. At the same time, on-chain data