KEYTAKEAWAYS
- Since February 1st, Number of Whales Holding Over 10,000 ETH Increased by 2.3%
- Ethereum Mainnet and Tron Chain Both Issued Over 2 Billion Stablecoins in Past 7 Days
- MEME Token Leads Cryptocurrency Discussions, Accounting for 18.74% of Twitter Conversations
CONTENT
Welcome to CoinRank Daily Data Report. In this column series, CoinRank will provide important daily cryptocurrency data news, allowing readers to quickly understand the latest developments in the cryptocurrency market.
SINCE FEBRUARY 1ST, NUMBER OF WHALES HOLDING OVER 10,000 ETH INCREASED BY 2.3%
Data shows that since February 1st, the number of whale addresses holding more than 10,000 ETH has increased from 941 to 963, representing a 2.3% increase. Meanwhile, the ETH price has fallen from $3,118.23 on February 1st to the current $2,704.
Source: Coinglass
Analysis:
The increase in whale numbers may indicate that large investors continue to accumulate ETH during the price correction, showing confidence in Ethereum’s long-term value. This accumulation behavior is often viewed as a signal of market bottom and may suggest future price stabilization or rebound.
However, market sentiment remains affected by macroeconomic factors and overall cryptocurrency volatility, and investors need to be alert to short-term risks. While whale accumulation may inject some stability into the market, retail investors should carefully evaluate market trends.
ETHEREUM MAINNET AND TRON CHAIN BOTH ISSUED OVER 2 BILLION STABLECOINS IN PAST 7 DAYS
According to Lookonchain monitoring, in the past 7 days, stablecoins (USDT and USDC) on the Ethereum mainnet increased by 2.43 billion, while stablecoins on the Tron chain increased by 2.08 billion. During the same period, stablecoins on the Solana chain increased by 598 million, and stablecoins on the Avalanche chain increased by 411 million.
Source:LookChain
Additionally, stablecoins on the TON chain decreased by 1 million, and stablecoins on the BSC chain decreased by 4.7 million.
Analysis:
The large-scale issuance of stablecoins, particularly 2.43 billion on Ethereum and 2.08 billion on Tron, indicates a significant increase in market liquidity, potentially signaling renewed investor confidence in the cryptocurrency market. The stablecoin issuance on Solana and Avalanche chains also reflects increased activity in these ecosystems.
The decrease in stablecoins on TON and BSC chains might indicate funds moving to other chains or reduced demand due to market adjustments. While the stablecoin issuance provides more liquidity support for the market, investors should pay attention to how changes in capital flows affect short-term market volatility.
MEME TOKEN LEADS CRYPTOCURRENCY DISCUSSIONS, ACCOUNTING FOR 18.74% OF TWITTER CONVERSATIONS
Latest data shows that MEME token dominates cryptocurrency discussions on Twitter, with its Mindshare (discussion share) reaching 18.74%, ranking first. Other popular topics include Framework (11.22%), DeFAI (13.6%), 3D Models tokens (2.11%), and Date (2.39%). The Mindshare metric reflects the discussion intensity of specific tokens on the Twitter platform.
Source: Cookie
Analysis:
MEME token’s high discussion share (18.74%) on Twitter reflects its strong community appeal and cultural influence in the cryptocurrency market. This phenomenon may be influenced by recent MEME culture propagation, community promotion, and market speculation enthusiasm.
However, high discussion volume doesn’t necessarily translate to market performance, and investors should be cautious of short-term speculation risks.
In comparison, Framework and DeFAI’s discussion shares of 11.22% and 13.6% respectively indicate that utility projects still maintain considerable appeal. MEME token’s popularity reflects the market’s preference for entertainment and social attributes.
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