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Analyst: Ethereum MVRV has shown a divergence since the end of 2022, with a key turning point being the transition to PoS

ChainCatcher message, on-chain data analyst Murphy released an analysis of ETH based on token flow and value ratio. The flow ratio of ETH on trading platforms has dropped below 35% since the end of December 2022, a figure that had exceeded 50% in September 2021. This indicates that ETH was once able to compete with BTC in terms of inflow/outflow ratios on trading platforms, but the significant decline now means that the attention of funds towards ETH is decreasing.Since December 2022, Bitcoin's MVRV "Market Value to Realized Value Ratio" (blue line) has shown a clear divergence from Ethereum's MVRV (yellow line). For the previous 7 years, this indicator had always alternated dominance, with ETH sometimes stronger and sometimes BTC stronger. Now, the blue line remains below the yellow line, indicating that since December 2022 until today, the unrealized profits of ETH holders have consistently been lower than those of BTC. Whether from trading platform data or on-chain data, the turning point for Ethereum's trend seems to have occurred in December 2022. Coincidentally, on September 15, 2022, the Ethereum mainnet merged with the Beacon Chain, completely ending PoW mining and transitioning to a PoS consensus mechanism, and everything changed right after that.As the trend of diminishing sentiment weakens, the capital inflow into these two major assets, BTC and ETH, has significantly decreased since last December. Nevertheless, BTC can still maintain a positive inflow of $5.4 billion over the past 30 days; whereas ETH has turned into a net capital outflow since February 15, with nearly $6.2 billion flowing out in the last 30 days as of yesterday. The attitude of funds is a crucial factor in determining price and trend, and ETH's revival in trend requires waiting for a renewed focus of capital.

BNB Chain's $100 million incentive program has been fully upgraded to directly purchase tokens to support ecological development

ChainCatcher news, BNB Chain's 100 million USD plan, after a 3-week trial of "rewards liquidity upon listing," is now launching a "direct token purchase" mechanism based on community feedback, to support the development of ecological projects in a more comprehensive and direct way.This plan targets native assets of BNB Chain or cross-chain assets, with projects in various tracks that meet the following on-chain data and security requirements having the opportunity to receive at least a single purchase of 100,000 USD.For transaction-driven assets: Market capitalization ≥ 1 million USD; Daily average traders ≥ 300; Daily average trading volume ≥ 200,000 USD.For TVL-driven assets: Total Value Locked (TVL) ≥ 20 million USD; with protocol TVL growth as the core evaluation criterion.Security requirements: The top 10 external account (EOA) holdings must not exceed 10% of the total supply (excluding CEX and wallets related to Zhao Changpeng); projects must complete contract verification on BscScan or pass a security audit, as well as undergo multiple risk assessments.The BNB Chain Foundation will select targets from the pool of qualified projects, purchasing through the foundation's wallet address, with purchase timing being random, and transactions will be announced through official accounts after completion. The BNB Chain Foundation acquisition address is 0x511DfE9E248c887E32ca8bF9d1cb76f101965060.The upgraded 100 million USD incentive plan reflects BNB Chain's steadfast commitment to continuously support builders and create long-term value for the ecosystem during market fluctuations.
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