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In recent days, on-chain data has shown abnormal fluctuations that warrant attention.
From on-chain transaction activity, large fund flows are frequent, and the trading pairs of several popular projects show clear signs of selling pressure. Wallet transfer data indicates that whale accounts have significantly reduced their holdings, which usually signals increasing market risk.
Even more concerning is that some projects are experiencing obvious liquidity exhaustion. Trading depth has deteriorated, and the bid-ask spread has widened, all of which are risk signals. On-chain lock-up data is also decreasing, suggesting that holder confidence may be wavering.
Overall, recent on-chain activity exhibits clear bearish characteristics. Both trading volume and fund flows reflect a cautious market sentiment. It is recommended to closely monitor these changes and adjust risk exposure accordingly.