PresidentQin'sOn-chainNotes

An easily overlooked but deeply impactful piece of news ⚠️
Recently, U.S. authorities seized about $700 million in cryptocurrency assets 💰
👉 These funds are related to Southeast Asian scam centers
👉 The main target is overseas victims
💡 Many people's first reaction to this is "bad news," but it should be viewed separately 👇
📉 The negative impacts are quite direct:
• Reinforces the stereotype that "cryptocurrency = scam tool" ⚠️
• Regulations may tighten further
• The pace of institutional entry could be affected
• Retail investor confidence may be easily shaken
📈 But

An interesting signal comes from the most "established" player in traditional finance 👀
Ben Slavin, an executive at Bank of New York Mellon, said 👇
👉 This year, Bitcoin spot ETFs have re-entered net inflows 👉
and overall have regained positive returns 📈
It’s important to note that this institution manages assets totaling up to $59 trillion 💰
💡 What does this mean?
👉 Even the most traditional funds are beginning to recognize BTC ETFs as a viable path
👉 Investors are entering the crypto market in a more "familiar" way
Simply put:
👉 Not directly buying coins, but parti

Market sentiment is "quietly warming up" 📈
Latest market update 👇
👉 NASDAQ-100 Index futures rose by more than +1%
Don't underestimate this 1%, the signal behind it is very important 👇
💡 This usually indicates:
👉 Technology stocks are expected to strengthen
👉 Risk appetite is rebounding
👉 Capital is starting to be willing to "re-engage"
📈 Potential positive signals for the crypto market:
• US tech stocks rising → increased correlation with risk assets 🚀
• Market sentiment improving, beneficial for BTC and ETH rebounds
• Marginal improvement in liquidity environment
• Funds may shift

The stablecoin track has once again seen an example of "self-reinforcing expansion" 📊
Saturn announced:
👉 This week, an additional $18 million worth of STRC was purchased
👉 The total holdings have now reached $33 million 💰
And this structure is even more interesting 👇
👉 Saturn itself is an on-chain yield-generating stablecoin issuer
👉 Supported by the Strategy's STRC system behind the scenes
💡 To put this model simply:
👉 Buy STRC → Generate yield → Support the stablecoin value
Essentially:
👉 Using "asset yield" to support "stablecoin issuance"
📈 The positive side:
• Backed by real a

A wave of "mysterious withdrawal operations" has appeared on the blockchain again 👀
Monitoring data shows 👇
👉 Four newly created wallets have withdrawn 10 million ASTER tokens from exchanges
👉 with a total value of about 6.7 million USD
👉 and highly suspected to be controlled by the same entity
💡 There are generally two interpretations of this operation in the market:
👉 It is "accumulating coins"
👉 Or preparing for the "next move"
The key point is:
👉 What will happen after the funds leave the exchange.
📈 Possible bullish scenarios:
• Withdrawal from the exchange = short-term selling

On-chain "Profitability" Rankings, a Key Signal 📊
In the past 24 hours 👇
👉 Ethereum transaction fee revenue is about $2.7 million
👉 Hyperliquid is about $1.7 million
ETH still remains in first place, but the gap isn't actually that large ⚠️
💡 What does this data indicate?
👉 Ethereum is still the "most profitable chain"
👉 But emerging protocols are catching up quickly
In other words:
👉 The leader is still there, but the competition is now face-to-face.
📈 Positive aspects:
• High ETH transaction fees = strong real usage demand 💰
• Network activity remains high, supporting a stabl

The actions of stablecoins this week are a bit "thought-provoking" 💰
On-chain data shows 👇
👉 Tether minted an additional 3 billion USDT in the past week
👉 Of which 2.89 billion USDT flowed to Abraxas Capital
💡This data, on the surface, indicates "funds increasing," but the core issue is:
👉 Are these funds ready to enter the market, or just prepared?
📊Let's break down the logic:
USDT minting ≠ already buying coins
👉A more accurate understanding is:
"Bullets are loaded, but haven't fired yet"
📈Possible positive interpretations:
• Large-scale minting = potential buy reserves 📊
• Funds c

The "institutional faucet" for BTC is still flowing 💰
Latest data (Eastern Time April 23rd):
👉 Bitcoin spot ETF net inflow for the day is about $223 million 📊
Capital flows are also very concentrated 👇
• iShares Bitcoin Trust: net inflow of $167 million
• ARK 21Shares Bitcoin ETF: net inflow of about $71.22 million
• Fidelity Wise Origin Bitcoin Fund: slight net outflow of about $16.92 million
📊 The overall structure is more worth paying attention to:
👉 Total ETF assets: approximately $102.79B
👉 Proportion of total BTC market cap: 6.59%
👉 Cumulative net inflow in history: has reached $

ETH on-chain has another "emotion accelerator" 🚀
Data shows that Meme coin FLORK's market cap surged to a new high in a short period 👇
👉 Currently about $12.14 million USD
👉 Daily increase directly **doubled (+100%)** 🔥
💡 Does this kind of market look familiar?
👉 No complicated fundamentals
👉 No clear application
👉 But the price just "rises straight up"
This is a typical case of:
👉 Emotion-driven + liquidity-driven
📈 From a positive perspective:
• Indicates market risk appetite is still present 📊
• Small-cap assets are more easily ignited by funds
• Meme t

Today’s macro data can actually be summarized in one sentence:
👉 The overall market is "cooling down," but there is no panic 📊
Let’s look at the key changes 👇
🪙 Precious metals:
Gold and silver are declining in tandem
👉 Gold has fallen to $4,675 per ounce (-0.41%)
👉 Silver has fallen to $74.83 per ounce (-0.77%)
Explanation:
👉 Risk aversion sentiment is temporarily weakening
🌊 Cryptocurrency volatility:
👉 BVIX (Bitcoin volatility) slightly decreased to 43.40
👉 EVIX (Ethereum volatility) instead increased to 65.40
💡 The signals are quite interesting:
👉 BTC

SOL is quietly building a new narrative line using "ETF capital flows"📊
Latest data (as of April 23, Eastern Time) show:
👉 SOL spot ETF's total net inflow for the day is about $7.33 million
With clear differentiation👇
• Bitwise Solana Staking ETF: net inflow of $6.2 million
• VanEck Solana ETF: net inflow of $1.13 million
📊The bigger structure is:
👉 Total net asset value of SOL ETF: approximately $874 million
👉 Cumulative net inflow historically: reaching $1.02 billion
👉 Net asset ratio: 1.77%
💡This set of data indicates a key change:
SOL is no longer just a "traded asset," but is ente

rsETH incident enters the "final stage," but the impact left behind is far deeper than the numbers⚠️
Latest on-chain data整理👇
👉 Currently, there is still a gap of about 68.9k ETH (approximately $160 million)👉 The reason is that the attacker collateralized rsETH to borrow about 99.6k ETH👉 After deducting the 30.7k ETH frozen and recovered on Arbitrum, it forms👇 More importantly, 👉 The trapped ETH has been exchanged for BTC, and the funds have "left the original system"📉
💡 But the market has not completely collapsed; instead, a new phenomenon has emerged:
Aave led the launch of the "DeFi

ETH is being pushed into a new phase by "institutional holding + staking"📊
Founded by Tom Lee, the Ethereum reserve company Bitmine has recently been very aggressive👇
👉 Approximately $320 million worth of ETH has been staked in the past 24 hours
👉 Currently, over 70% of holdings have participated in staking
👉 Total staked approximately 3.5 million ETH (about $8.1B)
There are even on-chain signs indicating:
👉 If the new wallet ownership is accurate, the total holdings could reach 5.08 million ETH😳
💡 More importantly, structural changes:
👉 Bitmine now controls over 4.1% of the total ETH

DeFi funds are undergoing a round of “migration” 📊
Spark recently disclosed on the X platform:
👉 The total amount of native token SPK staked has exceeded 500 million tokens
👉 It is currently about 509,969,466 tokens
👉 Meanwhile, Spark Points Program Season 4 has been launched, and users can receive points rewards for staking 🎯
💡 But the more important context behind this data is:
Previously, due to the rsETH security incident,
👉 Funds continued to flow out from Aave
👉 Some whales and institutions began redirecting funds to Spark
📊 This actually reveals a very clear m

Whales are once again playing extreme strategies with "rebalancing + leverage"⚠️
Data shows that "Big Brother Ma Ji" closed all long positions on HYPE three hours ago, but did not fully exit the market👇
👉 Still holding 25x leveraged ETH long positions
• Position: about 18k ETH
• Worth approximately $18k
👉 Simultaneously holding 40x leveraged BTC long positions
• Position: about 503 BTC
• Worth approximately $39 million
💡 The core signal of this set of actions is very clear:
👉 HYPE withdraw first
👉 BTC + ETH continue to heavily leverage and increase positions
This indicates that the strat

An on-chain "sleeping giant whale awakening" signal has appeared again 📊
Data from April 23 shows that a whale address that had been dormant for about 1.6 years has resumed buying ETH 👇
👉 Investing approximately $7 million at an average price of $2,333
👉 Buying about 3,000 ETH
👉 The wallet still holds around $3 million USDC, and may continue to add positions later 💰
💡 Why does this signal attract market attention?
Because "long-dormant funds suddenly move," which often indicates a strategy shift rather than routine trading.
📈 From a positive perspective:
• Dormant funds flowing back =

ETH is currently stuck in a typical "liquidation squeeze zone"📊
Data shows:
👉 If ETH breaks above $2,426, the liquidation scale of mainstream exchanges for short positions will reach about $1.06B🔥
👉 If ETH falls below $2,218, the liquidation scale for long positions will be about $365 million⚠️
💡 What does this mean?
Simply put:
👉 The above is "short fuel," the below is the "long defense line," and in the middle is the game zone.
Who gets broken first will give the market an "accelerated" move.
📊 The core characteristics of the current structure:
• Larger short positions above = potenti

AI+ Computing Power Track, suddenly received a "nuclear-level order" 💥
Axe Compute Inc. announced the signing of a 36-month, approximately $260 million AI infrastructure big order 👇
👉 Deploying 2,304 NVIDIA B300 GPU clusters
👉 Supporting high-speed AI storage system + 4.8MW power support
👉 Expected to go live in Q3 2026 at a Tier 3 data center in the United States
More importantly, 👇
👉 The underlying computing power is provided by Aethir (decentralized GPU cloud)
📊 Market reaction was very direct:
AGPU stock price once surged 166% intraday, with trading volume increasing over 100 times