On-Chain Daily | 2026-07-19 The main on-chain narrative today is institutions and big holders shifting funds. After 30,000 ETH was settled via OTC, it was transferred back to exchanges in USDC; a16z continued trimming its HYPE position; CARDS whales used step-by-step transfers to evade tagging. I. 30,000 ETH — After being swapped for USDC via Galaxy OTC, the seller whose destination was Coinbase at 0x8Fa4 did not directly buy ETH to dump; instead, they first settled it into USDC

ETH0.05%
USDC-0.01%
HYPE-2.89%
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