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Aave founder Stani Kulechov sold 4,503 Ethereum worth $8.3 million and Bitcoin treasury transfers, indicating active portfolio rebalancing rather than panic exits.
ETF outflows and record trading volumes highlight institutional stress, signaling short-term capitulation amid heightened volatility.
On-chain adoption continues to rise, especially on the XRP Ledger, showing that network utility remains strong despite falling prices.
The cryptocurrency market is still under intense pressure as sharp price declines, heavy liquidations, and institutional repositioning redefine sentiment. While prices across major assets have weakened, on-chain data and strategic corporate actions suggest the market is entering a redistribution phase.
Aave founder Stani Kulechov sold 4,503 Ethereum worth $8.3 million as Ether briefly dropped below $2,000, this comes amid ongoing selling pressure.
On-chain data shows the transactions were executed through CoW Protocol, with multiple WETH-to-USDC swaps spread across several tranches.
The blockchain analytics show that the average selling price for ETH was $1,857 which is just below the current price.
Despite the sale, portfolio data shows AAVE remains Kulechov’s largest holding, underscoring that the move appears to be risk management rather than a full exit.
Marathon Digital, the Bitcoin miner, transferred 1,318 BTC valued at approximately $86.9 million to various custodians that included Two Prime, BitGo and Galaxy Digital.
The transfers occurred through multiple transactions, demonstrating that the organization managed its treasury operations and liquidity needs while it maintained its asset base.
Marathon currently holds approximately 12,245 BTC with a market value of around $793 million according to on-chain balance records.
Large asset managers, including BlackRock, have moved digital assets between custodians during recent months, which shows that Bitcoin functions as a managed treasury asset instead of an asset for passive ownership.
XRP has declined to around $1.29, as on-chain activity on the XRP Ledge saw a significant increase.
The XRP Ledger payments have reached 1.88 million transactions, representing one of the strongest usage periods this year.
The increase in transactions underscores growing real-world adoption, particularly for cross-border payments, as its low fees and quick settlement give it an advantage.
Tokenized commodities have now reached a value beyond $5 billion across multiple blockchains, with XRP Ledger emerging as one of the top platforms supporting this expansion, together with Ethereum and Polygon.
Also Read: XRP Prepared for a Big Move? 8-Year Pattern Mirrors Gold’s Historic Rally
Stablecoin issuer Tether deepened its push into tokenized real-world assets by acquiring a $150 million stake in Gold.com, securing roughly 12% ownership in the precious metals marketplace.
The partnership will integrate Tether Gold, enabling easier access to tokenized gold backed by physical reserves.
Tether also plans to explore stablecoin-based payments for physical gold using USDT and its US-focused stablecoin USAt.
The move comes as gold prices remain elevated after a strong rally over the past year, aligning with Tether’s broader diversification beyond dollar-backed stablecoins.
According to SoSoValue, the Bitcoin spot ETF saw a total net outflow of 434.15 million yesterday. BlackRock's ETF IBIT saw a net outflow of 175.33 million.
The second highest was Fidelity's ETF FBTC, with a net outflow of 109.48 million.
The total net asset value of Bitcoin Spot ETFs is $80.76 billion, with an ETF net asset ratio of 6.34%. The historical cumulative net inflow has reached $54.32 billion.
Also Read: Bitcoin Price Rebounds Above $65,000 After Testing $60,008 Support Level
BlackRock’s spot Bitcoin ETF, IBIT, recorded over $10 billion in notional trading volume in a single session, the highest on record.
Over 284 million IBIT shares changed hands as Bitcoin plunged to $60,000, with IBIT shares backing by 13% to below $35, their lowest level since October 2024.
The options market displays substantial preference for put contracts, indicating that institutional investors engage in aggressive hedging while establishing their defensive positions.
The combination of record volume, heavy redemptions, and downside protection is considered a sign of capitulation against downside pressure by analysts. This is often seen near the final stages of sell-offs.
1. Why did Aave founder Stani Kulechov sell Ethereum?
The ETH sale appears to be a risk-management move during heightened volatility, not a full exit, as AAVE remains his largest portfolio holding.
2. What does Marathon Digital’s Bitcoin transfer indicate?
The BTC transfers suggest active treasury and liquidity management rather than liquidation, a common practice among large Bitcoin miners during volatile periods.
3. Why is XRP usage increasing despite a price decline?
XRP Ledger activity is rising due to strong demand for fast, low-cost cross-border payments, showing adoption can grow independently of price trends.
4. What does the Bitcoin ETF outflow signal?
ETF outflows reflect short-term institutional risk reduction, though long-term inflows remain strong, indicating positioning reset rather than structural exit.
5. Why is BlackRock’s IBIT volume important?
Record trading volume combined with heavy redemptions and put-option dominance signals institutional capitulation, often seen near late-stage sell-offs.
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