Whale Movements Alert

The Bitcoin market turmoil has intensified. Last week, Galaxy sold over 80,000 BTC for a Satoshi-era investor, causing the Bitcoin price to drop below $115,000. At the same time, market activity has cooled down, with trading volumes for decentralized exchanges' spot and perpetual contracts both declining.

In the stablecoin market, Tether issued an additional 3 billion USDT on Ethereum and Tron, while Circle issued an additional 750 million USDC on Solana, resulting in a total increase of 4.69 billion USD in stablecoin market capitalization. The market capitalization of stablecoins on Tron and Ethereum increased by 550 million and 519 million USD, respectively.

The spot trading volume of decentralized exchanges reached $121.55 billion last week, a decrease of 5.74% compared to the previous week. Among them, PancakeSwap had a trading volume of $38.471 billion, Uniswap $25.656 billion, and Raydium $8.798 billion. The total trading volume of decentralized perpetual contracts was $131.211 billion, a decrease of 4.43% compared to the previous period.

Last week, 17 companies purchased 6,315 BTC, totaling $746 million. On the other hand, whales and institutional investors continued to increase their holdings of ETH, with 8 new wallets buying 583,248 ETH since July 9, amounting to a total of $2.17 billion.
$BTC $Ethereum $USDT $USDC $ETH #Galaxy_Digital