CryptoQuant

Bitcoin went below its 365-day moving average ($102K). This is a key technical and psychological support level last broken at the start of the 2022 bear market. If price fails to reclaim it, data suggest the next support lies near $72K, the Traders’ minimum realized price band. Read the full insight 👉 https://lnkd.in/daXMNq4w

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Binance Whale Ratio Recovers from 10/10 (via CryptoQuant) [Entering November] After the relatively uneventful October, we have now entered November, which has historically been the most positive month for the leading cryptocurrency, bitcoin. At the same time, there are clear signs of an altseason, with tokens like Zcash (ZEC) rising 1000% in 3 months. The upcoming altseason will likely be selective: There are approximately 34.6 million cryptocurrencies around, representing an infinite supply. Only a selected cohort of altcoins will provide excess returns. [Binance Exchange Whale Ratio Recovers from 10/10] As the dominant global digital asset exchange, Binance is an important leading indicator for the whole market. During the recent flash crash of October 10th, the 14-day moving average of Binance’s Exchange Whale Ratio (EWR) collapsed from 0.4 to 0.32, representing a -20% reduction. Since then, the EWR metric has recovered to 0.42, exceeding the pre-crash values. The recovering EWR mirrors the risk-on attitude of whales, moving their liquidity to exchanges for further allocation. As Darkfost recently mentioned, we are seeing the rise of new whales, and companies building treasury reserves, however, the retail investors are largely absent. In previous cycles, the rising EWR has occasionally been considered as bearish. Nevertheless, in November 2025's environment, with whales placing massive buy orders during dips and overall holdings rising above 1-year averages, it could be part of a broader accumulation strategy. [EWR Explained] The Exchange Whale Ratio is CryptoQuant’s native on-chain metric that measures the influence of large transactions (often associated with whales, or high-net-worth investors) on exchange platforms. [Wrap-Up] The crypto market seems to be recovering from the flash crash of October 10th, mirrored by altcoin performance and Binance’s Exchange Whale Ratio. The last quarter of 2025 will likely see continuing price discovery. https://lnkd.in/d_kwZ59E

Historic Moment for #Ethereum! The Ethereum ecosystem’s daily activity (SMA-30) just hit an All-Time High — 1.98M active addresses! This surge signals real user growth across 76 top altcoins — not just price hype. Widespread engagement from #DeFi to #NFTs hints at the early signs of a new #Altseason. #ETH #Crypto #Blockchain #Altcoins

Binance Stablecoin Reserves at ATH, ERC-20 USDT Leads the Surge (via CryptoQuant) [A Sideways Uptober] So far, the anticipated Uptober hasn’t been materialized, with the leading cryptocurrency bitcoin up by 4.4 percent within 30 days. However, the seasonality of November and December will likely support digital assets. [Binance Stablecoin Reserves at $45 Billion] Binance’s ERC-20 stablecoin reserves have been uplifted from August’s low of $32 billion to the current level of $45B, rising by 41%, and indicating a significant amount of sidelined liquidity, ready for deployment. This record amount of unused capital will act as a catalyst for potential altcoin rallies in Q4 of 2025 and Q1 of 2026. [The Divergence of Binance ERC-20 and TRC-20 USDT Reserves] While Tron has been dominating the USDT supply in recent years, Binance still has an 85% larger Ethereum USDT reserve, compared to the Tron USDT reserve. Binance currently holds $38B worth of ERC-20 USDT and $21B worth of TRC-20 USDT. Why are these reserves diverging? Binance's DeFi products (Binance Liquid Swap, staking pools) and its Ethereum-compatible Binance Smart Chain (BSC) rely heavily on ERC-20 USDT for interoperability. Users depositing ERC-20 USDT can easily bridge to BSC or participate in Ethereum-based DeFi protocols without chain swaps, which incur extra fees and delays. In contrast, TRC-20 USDT requires bridging to Ethereum ecosystems. Binance-based institutions and high-volume traders favor Ethereum due to its stronger regulatory compliance, decentralization, and security reputation. Ethereum is seen as more battle-tested for large-scale operations, with clearer paths for audits and redemptions. Tron, while efficient, faces criticism for centralization. [Wrap-Up] Although the early Q4 has been somewhat disappointing, the escalating stablecoin reserves on Binance indicate a significant amount of sidelined liquidity. The stablecoin reserves, led by ERC-20 USDT, act as "dry powder" for the rest of the quarter. https://lnkd.in/d5HybQtP

Bitcoin ETF demand stays weak. The 7-day average net flow is -281 BTC, one of the lowest since April. This shows that US spot ETFs have become net sellers. Explore our report for the latest insights 👉 https://lnkd.in/dWXWqgSv

Binance Alpha 2.0 has become the price discovery hub for new tokens. Daily volume recently hit $10.2B, surpassing every CEX except Binance itself. Retail trading is surging, and liquidity is spreading across 300+ tokens. Explore our research dashboard 👉 https://lnkd.in/dy6hj5Ze

Late-Stage Accumulation: What On-Chain Data Reveals About Bitcoin’s Cycle Peak Bitcoin’s long-term demand remains intact, though short-term momentum is softening. The Dolphin cohort (100–1K BTC)—ETFs, corporates, and large holders—now controls 26% of supply (5.16M BTC) and added 681K BTC in 2025. Their annual growth remains positive (+907K BTC YoY), suggesting the bull cycle isn’t over. But without renewed accumulation, Bitcoin may consolidate below $126K, with key support near $100K. Find all the details in our latest report 👉 https://lnkd.in/dVJgvvdR

🤓 Like looking at crypto charts? At our Spotlight Meetup THIS MONDAY, we feature a guy who helps make them! ✅ RSVP HERE: https://lnkd.in/gPVZdzUP Ben Sizelove from CryptoQuant presents how his company aggregates the data, charts the data, and what the numbers say about the asset and the activity behind it. Lots of questions answered (and triggered) from this growing field of research! 🙋♂️ Come be a part Monday evening, October 27--brought to us by Frankie's Chicago Style and Stand With Crypto! ✅ Learn more and RSVP here: https://lnkd.in/gPVZdzUP #cryptocurrency #blockchain #dataanalyst