隨著長期持有者兌現，加密貨幣市場發生巨變

4月第二週，市場出現明顯調整。 Glassnode 指標顯示獲利了結和潛在的市場調整。本文分析了基金和鯨魚在此期間的活動，重點介紹了關鍵的鏈上數據點並提供了對市場動態的見解。

Seismic Adjustments Rock Crypto Market in the Wake of Long-Term Holder Realization

長期持有者變現後，地震調整震撼了加密貨幣市場

The second week of April concluded with significant market fluctuations, mirroring predictions based on Glassnode indicators. In this comprehensive analysis, we delve into the intricacies of fund and whale activity during this tumultuous period, shedding light on key on-chain events that shaped market dynamics.

4 月第二週市場出現大幅波動，這與基於 Glassnode 指標的預測相符。在這份全面的分析中，我們深入研究了這個動盪時期基金和鯨魚活動的複雜性，揭示了塑造市場動態的關鍵鏈上事件。

On-Chain Highlights of the Week (April 8 - April 13)

本週鏈上亮點（4 月 8 日至 4 月 13 日）

1. Layer 2s Signal Resilience

1. 第 2 層訊號恢復能力

Despite market volatility, Layer 2 solutions have exhibited resilience, with their aggregate Total Value Locked (TVL) surging by 24.4% over the previous month. Arbitrum One and Base have been instrumental in this growth, contributing significantly to the overall TVL of $8.4 billion.

儘管市場波動，Layer 2 解決方案仍表現出彈性，其鎖定總價值 (TVL) 較上個月飆升 24.4%。 Arbitrum One 和 Base 在這一增長中發揮了重要作用，為 84 億美元的總 TVL 做出了巨大貢獻。

Ethereum's Dencun upgrade has been a catalyst for Layer 2 adoption, reducing data costs through the incorporation of data blobs. This has resulted in lower transaction fees and gas consumption, fostering increased utilization.

以太坊的 Dencun 升級一直是 Layer 2 採用的催化劑，透過合併資料 blob 來降低資料成本。這導致交易費用和天然氣消耗降低，從而促進利用率的提高。

Base, a Layer 2 solution from Coinbase, has witnessed a remarkable rise in bridge volume and transactions per second (TPS) in 2024. Bridge volume has nearly tripled, while TPS has increased tenfold since January.

Base 是 Coinbase 的第 2 層解決方案，到 2024 年，橋接量和每秒交易量 (TPS) 顯著增長。

2. Whales Accumulate Ether (ETH)

2. 鯨魚累積以太幣（ETH）

Amidst the market correction, a single wallet address has emerged as a substantial ETH buyer, acquiring 10,309 ETH (worth approximately $35.82 million). This follows a previous purchase of 10,643 ETH ($36.75 million) on April 8, just before the BTC price rebound.

在市場調整中，一個錢包地址成為 ETH 的重要買家，購買了 10,309 ETH（價值約 3,582 萬美元）。此前，就在 4 月 8 日，即 BTC 價格反彈之前，購買了 10,643 ETH（3,675 萬美元）。

Furthermore, large organizations are actively accumulating ETH, as observed by Lookonchain:

此外，據 Lookonchain 觀察，大型組織正在積極累積 ETH：

• 0xACc7 (speculated to be Matrixport's wallet) withdrew 56,176 ETH ($202.12 million) from exchanges since April 11.
• Investor 0x435 withdrew 3,092 ETH ($11.12 million) from Binance on April 10 and has withdrawn a total of 24,044 ETH ($86.5 million) over three days from April 8.

Earlier this week, two additional significant whales invested a combined $35.11 million to purchase 10,322 ETH. This accumulation is believed to be a concerted effort to push ETH above $3,400. The transactions involved:

0xACc7（推測是Matrixport 的錢包）自4 月11 日起從交易所提取了56,176 ETH（2.0212 億美元）。投資者0x435 於4 月10 日從幣安提取了3,092 ETH（1,112 萬美元），三天內總共提取了24,044 ETH（8,650 萬美元）從 4 月 8 日開始。本週早些時候，又有兩隻大鯨魚總共投資了 3511 萬美元購買了 10,322 ETH。這種累積被認為是推動 ETH 突破 3,400 美元的共同努力。涉及交易：

• 8 wallets, potentially belonging to a single entity, spent 20.86 million USDT to buy 6,145 ETH at $3,395. The wallets received USDT from 0x065 and 0x8ce, which have transacted ETH and USDT, suggesting a common ownership.
• Whale 0x5e9 purchased 4,178 ETH at $3,410 using 14.25 million DAI. This whale has generated a cumulative profit of $7.48 million from a previous ETH and WBTC trade.

3. Spot BTC ETF Flows in Focus

8 個可能屬於同一實體的錢包花費 2,086 萬 USDT 以 3,395 美元的價格購買了 6,145 ETH。這些錢包從 0x065 和 0x8ce 收到了 USDT，這兩個錢包已經進行了 ETH 和 USDT 交易，這表明它們是共同所有權。這隻鯨魚從先前的 ETH 和 WBTC 交易中累計獲利 748 萬美元。3。現貨 BTC ETF 流量成為焦點

Grayscale continues to hold a significant position in the BTC market, with its holdings currently at 319,252 BTC (valued at $21.57 billion).

Grayscale 繼續在 BTC 市場中佔據重要地位，目前持有 319,252 BTC（價值 215.7 億美元）。

iShares Bitcoin Trust (owned by BlackRock) has maintained its BTC acquisition spree, holding over 266,58 BTC ($18.01 billion) at present.

iShares Bitcoin Trust（貝萊德旗下）持續維持其 BTC 收購熱潮，目前持有超過 266.58 BTC（180.1 億美元）。

In contrast, the Spot BTC ETF market has been relatively subdued this week, with most funds exhibiting zero netflow for several days. However, on Friday, April 12, Bitcoin Spot ETF flows turned negative by $55 million, with only BlackRock adding to its BTC holdings while other funds remained inactive.

相較之下，現貨BTC ETF市場本週相對低迷，大部分基金連續多日呈現淨流量為零的情況。然而，4 月 12 日星期五，比特幣現貨 ETF 流量轉負 5,500 萬美元，只有貝萊德增持了 BTC 持倉，而其他基金仍然不活躍。

4. FTX and Alameda Research Resume Asset Sales

4. FTX 和 Alameda Research 恢復資產出售

After a period of relative quiet, FTX and Alameda Research have resumed asset sales, demonstrating impeccable timing. Ahead of today's market correction, they transferred 2,500 ETH ($8.56 million) to Coinbase at approximately $3,426 per ETH.

經過一段相對平靜的時期後，FTX 和 Alameda Research 已恢復資產出售，展現了無可挑剔的時機。在今天的市場調整之前，他們以每 ETH 約 3,426 美元的價格將 2,500 ETH（856 萬美元）轉移到 Coinbase。

Since March 1, FTX and Alameda have transferred 15,850 ETH ($58 million) to intermediary exchanges at an average price of $3,659.

自 3 月 1 日以來，FTX 和 Alameda 已以 3,659 美元的平均價格向中介交易所轉移了 15,850 ETH（5,800 萬美元）。

Conclusion

結論

The crypto market has undergone a series of adjustments this week, with long-term investors realizing profits and market fundamentals undergoing recalibration. Layer 2 solutions have shown resilience, while whales and institutions continue to accumulate ETH. Spot BTC ETF flows have been muted, reflecting the market's current volatility. The actions of FTX and Alameda Research, with their strategic asset sales, underscore the dynamic and ever-evolving nature of the crypto ecosystem.

本週加密市場經歷了一系列調整，長線投資者獲利了結，市場基本面正在重新調整。 Layer 2 解決方案表現出了韌性，而鯨魚和機構則繼續累積 ETH。現貨 BTC ETF 資金流向平淡，反映出市場目前的波動性。 FTX 和 Alameda Research 的行動及其策略性資產銷售凸顯了加密生態系統的動態和不斷發展的本質。