On-Chain Data

The supply of stablecoins has surpassed $300 billion, with high market concentration, but second-tier stablecoins are rapidly emerging. Centralized exchanges hold large amounts of stablecoins, and liquidity activity indicates they are primarily used for market infrastructure rather than payments. The circulation speed varies across chains, revealing different uses and roles.

From 17:30 to 17:45 on March 2, 2026 (UTC), the price of ETH dropped rapidly from 2058.07 USDT to 2026.2 USDT, with a short-term return of -1.23% and an amplitude of 1.55%. Short-term volatility significantly increased, market attention rose, and liquidity became tight. The main driver of this abnormal movement was the liquidation of leveraged long positions, with some contract longs triggering stop-loss orders, causing the price on the order book to plummet rapidly. Additionally, the key daily support zone was quickly broken, accelerating the technical decline, leading to

2026-03-02 16:30 to 16:45 (UTC), ETH short-term price surged strongly, with a 15-minute K-line showing a return of +1.01%, price range from 2044.47 to 2081.89 USDT, with an amplitude of 1.82%. Trading volume increased simultaneously, market sentiment shifted from cautious to active, liquidity improved, attracting short-term traders to pay close attention. The main driver of this anomaly is the continuous net inflow of institutional spot ETF funds. Recently, ETH spot ETF net inflow data hit new highs, continuing its strong performance in the first quarter of 2026, with mainstream financial institutions

2026-03-02 15:30 to 15:45 (UTC), ETH price surged rapidly, with short-term returns reaching +1.52%. The fluctuation range was from 2021.82 to 2062.76 USDT, with an amplitude of 2.02%. This abnormal movement attracted widespread market attention, and volatility increased significantly. The main driver of this abnormal movement was the recent large-scale USDC Treasury burn event on the Ethereum mainnet. On January 29, 2026, 50 million USDC were burned, leading to a contraction in stablecoin circulation and accelerating the adjustment of the capital structure within the ecosystem. Some on-chain liquidity

From 15:30 to 15:45 on March 2, 2026 (UTC), Bitcoin (BTC) experienced a significant rebound in the short term, with a return of +1.41%. The trading range was between 68,433.0 and 69,535.2 USDT, with an amplitude of 1.61%. During the abnormality window, market attention increased significantly, volatility intensified, and short-term capital flow became active. The main driving force behind this anomaly is the easing of geopolitical tensions combined with a return to risk appetite, leading some funds to re-enter the cryptocurrency sector. At the same time, institutional holdings continued to increase, and spot ETF capital flows...

ChainCatcher message: According to Whale Alert monitoring, the USDC Treasury has burned approximately 61.5 million USDC on the Ethereum chain.

After the U.S. military airstrikes on Iran, Iran's largest cryptocurrency trading platform Nobitex experienced a sudden surge of 700% in fund outflows, indicating that cryptocurrencies have become a rapid transfer channel for funds. Against the backdrop of escalating geopolitical risks, some funds are choosing to evade sanctions. Although blockchain transparency allows for tracking of fund flows, it still raises concerns about their intended use.

From 14:30 to 14:45 (UTC) on March 2, 2026, the ETH price surged rapidly within 15 minutes, achieving a return of +2.00%. The price fluctuated between 1925.88 and 1967.3 USDT, with an amplitude of 2.15%. Market attention significantly increased, with capital flow and trading volume expanding in tandem. Short-term volatility intensified, prompting investors to closely monitor. The main driver of this anomaly was the continuous net inflow of ETF funds, which increased institutional participation and rapidly boosted spot buying. The accelerated inflow through ETF channels.

From 14:30 to 14:45 (UTC) on March 2, 2026, the price of BTC achieved a return of +1.57% within 15 minutes, with the price quickly rising from 65,586.1 USDT to 66,679.6 USDT, an amplitude of 1.67%. Trading volume increased simultaneously, market attention significantly heightened, short-term volatility intensified, attracting a large amount of capital to actively enter the market. The main driving forces behind this abnormal movement come from large-scale institutional capital inflows and continuous ETF subscriptions. Data shows that net inflows related to spot and ETF funds exceeded $180 million, with spot and perpetual contracts

Bitmine has increased its holdings of Ethereum (ETH) by 50,928 coins, bringing the total to 4,473,600 coins, accounting for 3.71% of the global supply. The company continues to expand in an unstable market and optimizes yields through staking, with an estimated annual income of $172 million, boosting confidence in digital asset transformation.

Author: Frank, PANews In the early morning of February 28, 2026, the global geopolitical landscape was shaken as the Iran-U.S. conflict reignited. This black swan event that altered the geopolitical pattern triggered intense chain reactions in the physical world, and similarly caused a chaotic capital vortex in the digital realm. On the decentralized prediction market Polymarket, a contract titled “Will Khamenei step down as Iran’s Supreme Leader before February 28?” has accumulated a trading volume of $81.63 million. As the news of the physical world’s death was gradually confirmed, the settlement of this massive smart contract faced severe paralysis and controversy. Both Yes proposals were rejected twice, and the market was forced into the final arbitration stage of the UMA oracle. This dispute once again sparked reflections on the judgment of prediction markets, and multiple addresses were exposed, suspected of being insider addresses that seized over $1 million in profits.

The report shows that after the airstrikes on Tehran in the United States and Israel, the capital outflow from Iran's largest cryptocurrency exchange Nobitex surged by 700%, with funds rapidly flowing to overseas exchanges, possibly reflecting capital flight.

On February 28, 2026, the United States and Israel launched airstrikes against Iran, revealing the limitations of traditional financial markets and leading to liquidity constraints. Meanwhile, the cryptocurrency market demonstrated greater resilience by enabling 24/7 trading through tokenized assets, hedging against risks. This event has accelerated the trend of financial assets migrating to blockchain, emphasizing the importance of liquidity during crises and poised to change the timing principles of financial operations in the future.

BitMine announces that the total value of its held cryptocurrencies and cash reaches $9.9 billion, with ETH holdings accounting for 3.71% of the total supply. Executive Chairman Thomas Lee stated that BitMine is steadily increasing its ETH holdings, believing that the current price correction is attractive, and plans to launch the validator network in early 2026.

ChainCatcher reports that, according to market sources, the company has purchased 3,015 Bitcoins, with a total value of approximately $204.1 million, and an average purchase price of about $67,700 per Bitcoin. As of March 1, 2026, Strategy's total Bitcoin holdings have reached 720,737 coins, with a total investment of approximately $54.77 billion, and an average purchase cost of about $75,985 per Bitcoin.

ChainCatcher reports that, according to DefiLlama data, Gate had a net capital inflow of over $17.69 million in the past 24 hours, ranking second globally; and a net inflow of $65.81 million over 7 days, ranking third globally. Additionally, Gate's 24-hour open interest for perpetual contracts reached $8.859 billion, ranking third globally.

The US Bitcoin and Ethereum spot ETFs are experiencing a massive capital exodus, with four consecutive months of net outflows totaling over $9 billion. The Bitcoin spot ETF has seen outflows of $6.39 billion, while the Ethereum ETF has seen outflows of $2.76 billion, indicating that institutional investors have lost interest in cryptocurrencies, leading to a continuous decline in prices. The market in early 2024 was once prosperous due to the launch of ETFs and Trump's election, but now it has entered a winter season.

Affected by macroeconomic pressures, Ethereum's price has dropped approximately 1.5%, approaching $1950, facing a seven-month correction. Position adjustments indicate strategic reduction, and market leverage risk has decreased. Analysts believe the correction is driven by the macro environment, and market resilience remains strong. Investors are focusing on future price trends and support levels.

Solana (SOL) price fluctuates between $84 and $85, with strong institutional investor confidence, attracting over $900 million in ETF inflows. Retail investors are more cautious, with open interest in futures contracts down over 6%. Technical analysis shows the price below key moving averages, indicating potential volatility. On-chain user growth is significant; if it breaks above $88, it will challenge the $99 resistance level. Market resilience is strengthening, but attention should be paid to the support level at $77.

ChainCatcher News: South Korean listed company Bitplanet (049470.KQ) increased its holdings by 35 Bitcoins, with a total of 300 Bitcoins held. It ranks 77th in the BTC holdings leaderboard.