On-Chain Data

February 24 News, on the first anniversary of the Pi Network open mainnet launch, approximately 300,000 PI tokens have flowed out from centralized exchanges, with the price of Pi Coin remaining around $0.16. This outflow reflects a decrease in immediate seller liquidity on exchanges and highlights increased community engagement and ecosystem activity. The Pi core team stated that since the mainnet went live independently, the project has achieved significant growth in KYC approval, mainnet migration, developer activity, and overall network participation. On-chain data shows that in the past 24 hours, exchange wallets have net outflows of approximately 305,547 Pi Coins, with one CEX alone net outflowing over 623,000 Pi Coins, offsetting small inflows on platforms like Gate. Although this change is limited relative to the total supply, combined with the anniversary celebration, it indicates that the network ecosystem is steadily expanding, and long-term holders remain confident.

Ethereum founder V神 sold 8,651 ETH in February, but Tom Lee-led BitMine bought over 50,000 ETH on dips. Lee is optimistic about Ethereum's fundamentals, believing it has potential in asset tokenization, AI trading, and creator economy. Despite the market weakness and five consecutive weeks of net outflows in crypto ETPs, BitMine still plans to increase its holdings.

Blockchain monitoring organization Onchain Lens data shows that well-known investor Machi Big Brother (Huang Licheng, Machi Big Brother) was fully liquidated from Bitcoin and Ethereum long positions during the market turbulence on February 23 when Bitcoin fell below the $65,000 mark, resulting in a total loss exceeding $27 million. The New Year film he invested in, "Kung Fu," also ended up losing money.

_StrategyB accumulated 717,131 BTC over six years, equal to about 3.4% of total Bitcoin supply._ _The firm deployed $22.4B into Bitcoin in 2025, marking its largest annual investment to date._ _StrategyB’s realized average Bitcoin purchase price is near $76,000, with no BTC sold

Between February 24, 2026, 05:15 and 05:30 (UTC), ETH experienced a significant drop in price, with the K-line return recording -1.09%. During this 15-minute period, the price dipped from approximately $1819, indicating increased market volatility and heightened investor attention to short-term performance of cryptocurrencies. Mainstream coins also declined collectively, with trading volume expanding to $2.176 billion over 24 hours, and short-term trading activity becoming more active. The primary drivers of this abnormal movement were large whale rebalancing and leveraged capital activities. On-chain data shows that whale accounts such as “pension-usdt.eth” engaged in large-scale...

A wallet traceable back to the Satoshi era from the early days of Bitcoin's inception has become active again after nearly 15 years of silence, transferring all 11,300 Bitcoins (equivalent to approximately $750 million) to an exchange-related address. Blockchain data shows that this transfer is one of the largest single movements from early miner wallets in recent years. Since the beginning of 2026, Bitcoin has declined by approximately 20%.

BlockBeats News, February 24 — According to Coinglass data, the total open interest in Bitcoin futures contracts across the entire network is 695,600 BTC, approximately $44.22 billion, hitting a new low since August 2025, down about 53% from the peak of $94.12 billion in October 2025. Leverage in the derivatives market is decreasing significantly, and overall market participation and speculative enthusiasm are cooling down.

From 04:00 to 04:15 (UTC) on February 24, 2026, ETH slightly declined around $1,827.98, with a 15-minute candlestick return of -0.03%. Overall volatility was limited, trading volume remained normal, and market activity was not high, reflecting increased investor caution and a lower risk appetite in the short term. The main driver of this fluctuation was sustained pressure on liquidity in the previous period, especially with ETH-related ETFs experiencing a single-day outflow of $130 million in mid-February, accompanied by whale fund withdrawals and frequent large on-chain transfers, leading to decreased market depth. Large fund inflows

Data as of February 23, 2026, shows that the US Bitcoin ETF recently experienced net outflows of approximately $3.8 billion, with institutional funds reallocating primarily into traditional assets such as gold. The reasons for the outflows include geopolitical issues, trade policies, and investor unrealized losses. Although the market is under pressure, the outflows do not mean that institutions are completely withdrawing, but rather adjusting their strategies. The key support level is $60,000; if broken, market sentiment could turn pessimistic. Investors should pay attention to macroeconomic data and inflow trends and make cautious decisions.

Ethereum co-founder Vitalik Buterin recently exchanged ETH for stablecoins through a decentralized exchange. Over the past few days, his associated wallet has sold more than 3,100 ETH, worth over $6.1 million. Buterin previously announced plans to sell approximately $47 million worth of ETH assets to support the Ethereum Foundation's financial needs during a period of "mild contraction."

Shiba Inu's exchange netflow rose by 138 billion tokens in 24 hours, indicating increased selling intent and sustained supply pressure. The token struggles around $0.0000065 amid declining demand and heightened volatility, leading to cautious market positioning.

The January cryptocurrency market experienced high-level fluctuations in trading volume, with cautious investor sentiment and increased volatility. Stablecoin market capitalization is concentrated in Ethereum and Tron. Gold and silver prices reached new highs, and tokenized commodities grew rapidly. Web3 industry funding reached $1.82 billion, with security incidents primarily related to contract vulnerabilities.

Currently, the Ethereum (ETH) market is experiencing a deep correction, mainly due to capital outflows and technical adjustments. Institutional investors are highly risk-averse, with whale sell-offs and founder holdings reduction intensifying market panic. The Ethereum Foundation has adopted a defensive financial strategy to ensure funding for technological development, while also planning internal network reforms to address centralization risks. Regulatory pressure is also increasing, as the EU is about to implement strict compliance standards that could impact the DeFi market. Overall, Ethereum is going through a phase of short-term pain coupled with long-term structural adjustments.

BitMine (BMNR) purchased 51,162 Ethereum last week, marking the largest single-week increase since December of last year, bringing its total ETH holdings to 4.42 million. Research firm Fundstrat reports that ETH's current trading price is approximately 22% below the on-chain average cost basis for investors, with an implied 12-month return of 81% and a historical win rate of 87%.

In the past seven Ramadan periods, Bitcoin has followed a recurring structural pattern in six cases: "early sharp rise followed by late-stage volatility and weakening," creating a strong seasonal expectation in the market. However, the start of 2026 has gone against this trend—opening with a decline rather than a rally, disrupting the sequence and throwing off the rhythm. On-chain data indicates potential rebound signals, but demand remains subdued. The trajectory of this Ramadan may not be as clear-cut as historical expectations suggest.

Ethereum co-founder V神 sold 8,651 ETH in February, cashing out approximately $18 million to fund projects related to privacy and public health. The market is concerned about the speed of his sales, with a 76% probability predicted for ETH dropping below $1,500. V神 emphasized that the funds are intended to support long-term projects, but investors remain cautious about the pace of his selling.

Bitcoin (BTC) continues its decline from the beginning of the week, currently around $63,500 as of February 24. The Ethereum Foundation has established a DeFi team to promote the development of the "DeFipunk" protocol. Jane Street was sued by Terraform Liquidation Party, accused of using insider trading to accelerate the crash.

Bitcoin has recently experienced a clear decline, with the market facing two simultaneous pressures. Major miner Bitdeer has liquidated over 2,000 coins in eight weeks, strategically shifting to an immediate sell-off mode; the U.S. Supreme Court ruled that Trump's tariffs were illegal, and a new wave of national security tariff issues has emerged, causing global risk assets to panic sell. Technical indicators have also worsened, with Bitcoin breaking below the triangle support, with short-term targets directly pointing to the critical $64,000 defense line.