Recently, on-chain data changes in the crypto market are worth paying attention to.

From the perspective of capital flows, Ethereum continues to attract funds—over the past 24 hours, mainstream exchanges have seen a net inflow of 117,300 ETH, with deposit sentiment continuing to heat up. In contrast, Bitcoin has experienced a net outflow of 3,029.44 BTC, with withdrawal intentions clearly increasing. This divergence may reflect a shift in market attitudes toward different assets.

Regarding price alerts, if ETH breaks through the $3100 threshold, the liquidation of short positions on major exchanges will surge to 629 million. This figure is worth noting for bears.

Policy actions are also accelerating. The "Cryptocurrency Asset Reporting Framework" will be officially implemented in 2027, and 48 countries have already started collecting crypto tax data this year—global regulatory networks are tightening. On the other hand, Iran plans to accept cryptocurrencies as a payment method for weapons transactions to evade sanctions, adding complexity to the international situation and elevating the strategic importance of crypto assets.

In terms of ecosystem development, BNB Chain's annual report shows the total number of independent addresses has surpassed 700 million, with daily transaction volume rising to 10.78 million, indicating steady growth in the public chain ecosystem's activity. Grayscale has also submitted an ETF application for Bittensor (TAO), continuing institutional deployment in new assets.

Regarding large holders, Justin Sun has spent $33 million to buy 13.25 million LIT, accounting for 5.32% of the circulating supply. A whale address has also increased its holdings by 2 million U to 2.45 million LIT in Lighter, signaling continued accumulation by institutions and whales. Metaplanet purchased 4,279 BTC in Q4, bringing its total holdings to 35,102 BTC, with a clear bullish stance.

Interestingly, the Crypto Fear & Greed Index has risen back to 28, finally leaving the "Extreme Fear" zone, indicating market sentiment is easing. On Upbit, the top three trading volumes over the past 24 hours are IP, XRP, and AERGO, with mainstream coins remaining active.

Overall, this is a stage of capital structure adjustment, policy framework improvement, and continuous institutional deployment. To seize market opportunities, tracking these data changes in real-time has become an essential task.