On September 5th, on-chain data analyst Murphy published an article explaining the disagreements and consensus among CEX large investors after a rapid increase in the balance of mainstream stablecoins on CEX. From August 13th to September 3rd, the BTC balance on CEX increased by 7,709 coins. There are two whale groups in CEX with single transaction sizes of 1 million to 10 million USD and greater than 10 million USD that are "fighting" against each other. In April of this year, the direction of these two forces was consistent in withdrawing, but after August 13th, disagreements began to appear. Smaller whales continuously deposited BTC into CEX, while larger whale groups continued to withdraw BTC. Both of these groups are not typical retail investors in terms of capital scale and are on par with each other in strength; the former represents potential selling pressure, while the latter represents buying demand, and currently, it is obvious that the former holds the advantage. It is worth noting that the data for ETH is exactly the opposite of BTC. From August 13th to September 3rd, the ETH balance on CEX not only did not increase but also significantly decreased by 1.616 million coins. Although there was a previous trend of slow balance decline, during this period, ETH was very clearly accelerated in being withdrawn. Similarly, among the two whale groups in CEX with single transaction sizes of 1 million to 10 million USD and greater than 10 million USD, there were no disagreements on ETH, as they consistently withdrew coins, which forms a sharp contrast with the confrontation of BTC large investors. The larger funds on CEX have a higher intent for consistency regarding ETH and show a greater preference for ETH. In contrast, there are disagreements and confrontations among whales regarding BTC, which thus cannot rapidly reduce the potential selling pressure within the trading platform. This analysis is for educational communication purposes only and does not constitute investment advice.
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Analysis: CEX whales consistently favor Ethereum, but are generating funds to "counter" Bitcoin.
On September 5th, on-chain data analyst Murphy published an article explaining the disagreements and consensus among CEX large investors after a rapid increase in the balance of mainstream stablecoins on CEX. From August 13th to September 3rd, the BTC balance on CEX increased by 7,709 coins. There are two whale groups in CEX with single transaction sizes of 1 million to 10 million USD and greater than 10 million USD that are "fighting" against each other. In April of this year, the direction of these two forces was consistent in withdrawing, but after August 13th, disagreements began to appear. Smaller whales continuously deposited BTC into CEX, while larger whale groups continued to withdraw BTC. Both of these groups are not typical retail investors in terms of capital scale and are on par with each other in strength; the former represents potential selling pressure, while the latter represents buying demand, and currently, it is obvious that the former holds the advantage. It is worth noting that the data for ETH is exactly the opposite of BTC. From August 13th to September 3rd, the ETH balance on CEX not only did not increase but also significantly decreased by 1.616 million coins. Although there was a previous trend of slow balance decline, during this period, ETH was very clearly accelerated in being withdrawn. Similarly, among the two whale groups in CEX with single transaction sizes of 1 million to 10 million USD and greater than 10 million USD, there were no disagreements on ETH, as they consistently withdrew coins, which forms a sharp contrast with the confrontation of BTC large investors. The larger funds on CEX have a higher intent for consistency regarding ETH and show a greater preference for ETH. In contrast, there are disagreements and confrontations among whales regarding BTC, which thus cannot rapidly reduce the potential selling pressure within the trading platform. This analysis is for educational communication purposes only and does not constitute investment advice.