On-chain news: Statistics of BTC address movements in various countries, whales continuously selling ETH to avoid liquidation

Source: Coin World Original

Author: Crypto Takuya

Coin World reports that with the transfer activities of BTC addresses by the U.S. government, the German government, and the Mentougou district, the market has experienced a sharp decline, and major on-chain whales are fleeing.

The U.S. government still holds 213,000 BTC, worth about $11.5 billion; 50,000 ETH, worth about $1.45 billion.

The German government still holds 42,000 BTC, worth about $2.3 billion.

Mentougou still holds 141,600 BTC, worth about $7.69 billion.

Currently, all whales and institutions are unloading leverage and reducing positions.

In the last 3 hours, a whale has successively transferred 11,429 ETH and 7,641 ETH to Binance, with a total of 20,830 ETH transferred to Binance, worth about $59 million.

According to on-chain analyst Yu Jin, this whale has collateralized 53,000 ETH through 3 addresses on Compound/Aave to borrow $107.8 million in stablecoins. Currently, his loan health ratio has dropped to a minimum of 1.15, which means that if ETH falls to around $2,526, his position will reach the liquidation line. With the rapid decline in ETH prices, he chose to sell part of his ETH to repay and reduce leverage.