On-Chain Data

Gate News reported that on March 13, according to Arkham monitoring, Circle minted 500 million new USDC in the past 24 hours, with a cumulative minting of 2 billion USDC over the past week.

A large whale account exchanged tokens on the Aave platform and, due to liquidity depletion and ignoring slippage warnings, ultimately lost $50 million and received only about 327 aEthAAVE. This incident was not caused by a system vulnerability or hacker attack, but was the result of the user confirming and executing the transaction themselves.

Under Middle East geopolitical tensions, Bitcoin faced widespread selling pressure, particularly from retail holders. According to Glassnode data, the market is experiencing heavy selling pressure, with the accumulated trend score declining to 0.04, indicating that retail and small-to-medium investors are reducing their positions significantly. Despite this, Bitcoin's resilience against the decline has surprised market observers.

Bitcoin price has recently approached $72,000, driven by improved regulatory signals, reduced exchange bitcoin reserves, and institutional capital inflows. The U.S. SEC and CFTC will launch a cryptocurrency regulatory coordination program, which is expected to reduce regulatory uncertainty in the industry. Additionally, bitcoin reserves on centralized platforms have fallen to three-year lows, with significant market supply tightening phenomena, driving price increases. If it breaks through $72,000, it could further strengthen market momentum.

As Ethereum transaction costs decline, address poisoning attacks are becoming increasingly frequent. Attackers create counterfeit similar addresses and conduct small-value transfers to trick users into sending funds to the wrong address. After the Fusaka upgrade, small-value transactions surged, causing massive losses. Although the success rate of attacks is low, attackers continue to carry out these schemes due to low costs. Users need to carefully verify addresses and remain vigilant against such risks.

A ruble-pegged stablecoin A7A5 has seen a surge in trading volume on the Tron network, becoming the third-largest stablecoin in the ecosystem with inflows exceeding $464 million. Due to international sanctions, Russian businesses are seeking alternative settlement tools, and A7A5's market scale continues to expand, with a market capitalization reaching $500 million.

Ethereum has officially launched ERC-8004, establishing identity, reputation, and verification standards for artificial intelligence agents. Over 10,000 agents have already registered. This standard addresses the trust gap by enabling portable reputation and cross-platform discoverability, while integrating x402 payment mechanisms to enhance economic accountability for agents. Developers can easily integrate it without rewriting code.

Ethereum's average gas fees have dropped to approximately 0.045 Gwei, with ordinary ERC-20 token transaction costs now around just $0.01, representing a decline of over 90%. This change stems from the rise of Layer 2 networks and multiple technical upgrades, which have reduced network congestion and transformed previous perceptions about blockchain transaction fees. This cost structure shift has made Ethereum transaction costs significantly more attractive compared to traditional financial solutions.

CryptoQuant reports indicate that Ethereum faces an "adoption paradox," where despite network activity reaching new highs, the token price has declined. If the bear market continues, Ether could potentially fall to $1,500 by the end of the third quarter. Smart contract activity has risen while decoupling from Ether's price, with exchange inflows being a better reflection of price dynamics. Weak investment demand and continuous capital outflows remain the primary concern.

Ethereum's Gas fees have dropped to 0.045 Gwei, with transaction costs declining to approximately $0.01, indicating a significant reduction in fees. This is related to Layer 2 scaling solutions and network architecture adjustments, which have transformed the mainnet into a secure settlement layer. Despite continued market price pressure, activity across the Ethereum ecosystem continues to grow, demonstrating undiminished usage demand.

A massive slippage event occurred on the Ethereum chain, where a user exchanged approximately 50.4 million USDT for only 327 AAVE tokens, resulting in a loss of approximately 50 million dollars. Aave emphasized that there was no system vulnerability, and slippage risks were warned prior to the transaction. The incident has prompted market reflection on the potential risks of large transactions, and Aave plans to enhance security mechanisms to reduce user losses.

Ethereum faces an "adoption paradox," where network activity reaches record highs but ETH price has fallen sharply, showing a divergence between the two. Analysis points out that current network activity growth primarily comes from automated contracts like DeFi, rather than genuine user demand, which intensifies selling pressure. If the bear market continues into 2026, ETH could fall to $1,500. Attention should be paid to changes in capital inflows and exchange inflows to determine whether ETH will emerge from the bear market.

According to Gate News, the ERC-8004 standard AI agents on BNB Smart Chain have exceeded 34,000, becoming the network with the most on-chain AI agents. Meanwhile, since the beginning of the year, ERC-8004 agents across all chains have increased to nearly 130,000, with on-chain transaction activity showing a significant rise.

Gate News bot message, on-chain analysis reveals that the individual who exchanged 50.43M aEthUSDT for 327 aEthAAVE (valued at $36K) is linked to Garrett Jin. Through blockchain tracing, 13 wallets have been identified as potentially belonging to him. All of these wallets received USDC or USDT from

On March 13, due to geopolitical conflict in the Middle East, the U.S. stock semiconductor sector overall fell by 2.66%. Nvidia fell by 1.5%, and Micron Technology fell by 3.2%. As a result, the prices of related contracts also dropped, but recovered somewhat after hours. Continue Capital’s related address holds about $14.5 million in long positions; after turning from profit to loss during the day, it turned back to a floating profit again.

On March 13, on-chain monitoring showed that address 0xa5b0's floating gains expanded to $11.5 million as ETH rebounded to $2,100, with a position size reaching $199 million. This address is the largest long position holder on the Hyperliquid platform, primarily holding ETH long positions with 15x leverage and BTC long positions with 20x leverage.

Bitcoin has recently rebounded strongly to $71,480, the U.S. CFTC released market manipulation risk guidance and is seeking public comments, and the SEC chair called for establishing an innovation exemption mechanism for security tokenization. Additionally, JPMorgan Chase faces a class action lawsuit, crypto market volatility and investor sentiment are gradually stabilizing, with expectations for potentially positive developments ahead.

Since the end of February when the U.S.-Israel coalition bombed Iran, Bitcoin's price has risen approximately 6%, outperforming both gold and U.S. stocks. Institutional investors continue to contribute positive net inflows to digital assets, demonstrating Bitcoin's appeal as a safe-haven asset. As U.S. Treasury yields rise, the safety perception of traditional safe-haven assets faces challenges, while Bitcoin benefits from its non-sovereign nature. Technical analysis indicates $72,000 as a key resistance level, with potential for further gains upon a breakout.

Gate News reported that on March 13, according to OnchainLens monitoring, Ethereum's first treasury company BitMine increased its holdings by 30,000 ETH through FalconX this morning, valued at $61.89 million.