On-Chain Data

Short-selling firm Culper Research publicly shorted Ethereum (ETH) and BitMine (BMNR), accusing the Ethereum Fusaka upgrade of causing transaction fees to plummet by 90%. The firm warned that the risk of a "death spiral" is increasing and questioned the sustainability of Ethereum's economic model. Culper cited Vitalik's recent sale of 20,000 ETH, indicating the founder's negative outlook on the current situation, and challenged the interpretation of active address growth, suggesting it may be the result of address poisoning attacks.

ChainCatcher News, according to PRNewswire, the Nasdaq-listed Ethereum treasury company Bit Digital released a holdings update report. As of today, the company's Ethereum holdings have increased to 155,434.4 ETH, valued at approximately $305.4 million, with an average purchase price of $3,045. Additionally, the company disclosed that as of today, a total of 138,2696 ETH have been staked, accounting for about 89% of its total holdings, generating approximately 313.9 ETH in staking rewards.

PANews March 6 News, Glassnode posted on X platform analyzing that the outflow trend of Bitcoin spot ETF funds has stabilized. The 14-day net flow trend has turned upward, indicating that as Bitcoin breaks through $70,000, selling pressure is easing. Institutional demand remains in a tentative stage, but early signs of reaccumulation are beginning to appear.

From 01:30 to 01:45 (UTC) on March 6, 2026, ETH achieved a return of +0.99% within 15 minutes, with a price range of 2065.42 to 2088.57 USDT, and an amplitude of 1.12%. The volatility during this window was significantly higher than the daily average, increasing short-term market attention. Liquidity was relatively low, and some large transactions drove the trading volume upward. The main driver of this abnormal movement was the concentrated inflow of whale funds into decentralized exchanges and large transfers. On-chain monitoring detected multiple large ETH fund inflows into DeFi protocols and trading platforms, effectively pushing

Bitcoin failed to continue its rebound, with the price around $70,810. Negotiations on the U.S. Digital Asset Market Structure Act have stalled, with banks opposing the approval of stablecoin yield products. Russia plans to introduce an independent stablecoin bill to legalize the related industry. Market conditions are affected by geopolitical tensions, with rising oil prices raising concerns and further impacting inflation and trade.

Short-selling firm Culper Research announced that it is shorting Ethereum and related securities, believing that the Fusaka upgrade in 2025 will harm the ETH tokenomics model. The upgrade resulted in a larger-than-expected decrease in Gas fees, and on-chain data shows that the growth in active addresses and transaction volume is driven by low-value transactions. Culper believes Vitalik is aware of this and will continue to sell ETH, expecting ETH prices to decline further.

The weekly net inflow into stablecoins has seen a strong rebound over the past week, as on-chain activity increased despite ongoing debates between U.S. lawmakers and banking groups about whether third parties should be allowed to pay interest on stablecoins. This is the information

BlockBeats News, March 6, according to Lookonchain monitoring, BlackRock's Bitcoin spot ETF IBIT continues to accumulate BTC. Since February 24, the net inflow has totaled 21,814 BTC, worth $1.58 billion.

ChainCatcher reports that, according to Arkham data, at 03:56, 210 BTC (worth approximately $14.92 million) was transferred from an anonymous address (starting with 168Bve...) to Cumberland DRW. Subsequently, Cumberland DRW transferred some of the BTC (57.42

ChainCatcher reports that, according to Arkham data, at 02:51, 838.89 BTC (worth approximately $50.26 million) was transferred from an anonymous address (starting with bc1qzudnxd...) to another anonymous address (starting with bc1qsxjg55...). Subsequently, this address transferred some BTC (130 coins) to Wintermute.

Solana stablecoin transfers reached $650B in February, more than doubling the previous record set in October. Analysts say stablecoins are driving blockchain payment demand as usage expands across networks with strong transaction capacity. Solana ranks second in circulating USD Coin

ChainCatcher Message: The market capitalization of Mantle ecosystem stablecoins has increased by 75% over the past 30 days, from approximately $494 million to about $870 million.

On March 5, 2026, from 16:00 to 16:15 (UTC), the price of Ethereum (ETH) recorded a -1.12% return within 15 minutes, with a price range of 2056.69 to 2087.34 USDT, and an amplitude of 1.47%. Market attention during this period significantly increased, volatility intensified, mainstream coins experienced a synchronized pullback, and short-term traders engaged in frequent speculative battles. The main driver of this fluctuation is macro-level liquidity disturbances. As the Federal Reserve's interest rate decision approaches and the U.S. non-farm payroll data is set to be released on March 6, the market shows divergence in the pace of rate cuts, prompting some short-term funds to choose

In the past 24 hours, the total liquidation amount in the cryptocurrency market reached $397 million, with $152 million in long positions and $245 million in short positions. Among them, BTC liquidations totaled $158 million, ETH liquidations totaled $122 million, 104,461 people were liquidated, and the largest single liquidation was $12.623 million.

ChainCatcher reports that, according to Arkham data, at 23:16, 340 BTC (worth approximately $23.74 million) was transferred from multiple anonymous addresses to Wintermute.

On March 5, 2026, from 15:00 to 15:15 (UTC), the ETH price experienced a sharp short-term drop, with a return rate of -1.42% within 15 minutes. The price ranged from 2083.78 to 2121.84 USDT, with an amplitude of 1.80%. Market sentiment was clearly volatile during this period, with attention rapidly increasing, forming a strong contrast to the general rise of mainstream coins. The main driver of this anomaly was the concentrated liquidation of leveraged long positions in the derivatives market. The price correction triggered forced liquidations of longs worth between 600M and 900M USD, and automatic sell-off chains intensified short-term selling pressure, causing the price to drop quickly.

ChainCatcher Message: According to market reports, a newly created wallet withdrew 304.55 Bitcoins from an exchange, worth approximately $22.16 million.

BNB Chain has recently launched several native on-chain features, including real-time on-chain data reading, transaction execution, wallet management, and registering permanent on-chain identities via the ERC-8004 standard. These features enable AI developers to quickly turn prototypes into valuable agents and accelerate project development through funding support.

Foresight News reports that Glassnode's data shows that Bitcoin spot ETF capital flows have stabilized after continuous outflows. The net inflow trend on the 14th has shifted to an upward trend, indicating that as BTC breaks above $70,000, selling pressure has eased. Institutional demand is still in the testing phase, but early signs of reaccumulation are emerging.

ChainCatcher reports that, according to Arkham data, at 17:56, 150.36 BTC (worth approximately $10.91 million) was transferred from one anonymous address (starting with bc1p03...) to another anonymous address (starting with bc1p2m...).