On-chain news: Statistics of BTC address movements in various countries, whales continuously selling ETH to avoid liquidation
With the transfer of BTC addresses by the US government, the German government, and Mentougou, the market experienced a sharp decline, and major on-chain whales began to flee.Source: Coin World Original
Author: Crypto Takuya
Coin World reports that with the transfer activities of BTC addresses by the U.S. government, the German government, and the Mentougou district, the market has experienced a sharp decline, and major on-chain whales are fleeing.
The U.S. government still holds 213,000 BTC, worth about $11.5 billion; 50,000 ETH, worth about $1.45 billion.
The German government still holds 42,000 BTC, worth about $2.3 billion.
Mentougou still holds 141,600 BTC, worth about $7.69 billion.
Currently, all whales and institutions are unloading leverage and reducing positions.
In the last 3 hours, a whale has successively transferred 11,429 ETH and 7,641 ETH to Binance, with a total of 20,830 ETH transferred to Binance, worth about $59 million.
According to on-chain analyst Yu Jin, this whale has collateralized 53,000 ETH through 3 addresses on Compound/Aave to borrow $107.8 million in stablecoins. Currently, his loan health ratio has dropped to a minimum of 1.15, which means that if ETH falls to around $2,526, his position will reach the liquidation line. With the rapid decline in ETH prices, he chose to sell part of his ETH to repay and reduce leverage.
