Capital Flow

Key Insights SUI trading volume surged by 37%, signaling renewed participation as the price stabilizes near 0.97, reflecting a transition from prolonged downtrend conditions Futures inflows and bullish long-short ratios indicate rising speculative interest, while liquidation trends show

Key Insights Solana ETF inflows reached $22.14 million this week, signaling sustained institutional accumulation and reinforcing short-term support above the 50-day EMA level. Futures open interest climbed to $5.53 billion, highlighting increased retail participation and growing

Bitmine Immersion Technologies bought 101,627 ETH against the market trend, with a total value exceeding $230 million, becoming the largest one-week purchase in 2026. The company holds nearly 5 million ETH, accounting for 4.12% of the total supply, and may affect ETH’s circulating supply and market valuation. While other treasury firms are reducing their purchases, Bitmine has strengthened its position in the ETH space with an advantage-driven strategy. Investors in Taiwan can participate by directly buying ETH, joining Bitmine, or waiting for authorization of an ETH ETF.

Solana's Chief Product Officer bought $10,000 in XRP to showcase wXRP's utility, driving $1 million in liquidity within 24 hours. This highlights growing interoperability in DeFi and signals a shift in liquidity flows as ecosystems merge.

MicroStrategy bought 34,164 bitcoins for $2.54 billion last week, bringing its total holdings to 815k BTC, making it the largest bitcoin-holding institution in the world. The funding source was mainly raised through STRC preferred shares and common stock offerings, reflecting a signal from institutions to buy in the face of market weakness. Although the MSTR stock price faces short-term pressure, it still shows a strong long-term capital allocation trend, providing multiple ways for investors in Taiwan to participate.

Cryptocurrency ETPs saw $1.4 billion in inflows last week, marking the highest since January, driven mainly by Bitcoin. Year-to-date inflows reached $3.8 billion, boosted by positive geopolitical sentiment and Bitcoin price increases.

Empery Digital sold 20 BTC for around $1.5 million, raising its total holdings to 2,914 BTC. The company plans to continue selling bitcoin to fund share repurchases and manage debt.

Gate News message, Strategy (previously MicroStrategy) has purchased 34,164 BTC for $2.54 billion at an average price of $74,395 per Bitcoin. The company now holds 815,061 BTC, acquired for a total of approximately $61.56 billion at an average price of $75,527 per Bitcoin.

In Q1 2026, Bitcoin miners sold over 32,000 BTC, the highest on record, to reinvest in AI infrastructure amid rising mining costs.

GraniteShares plans to launch 3x leveraged XRP ETFs on April 23, 2026, offering investors exposure to XRP without direct ownership. The products will amplify daily price movements, enabling both long and short positions. This introduction aims to increase trading volume and market participation, building on existing demand for leveraged crypto derivatives. Market dynamics will be closely monitored post-launch.

A recent hack draining nearly $300 million from a crypto project led to a liquidity crisis on Aave, causing users to withdraw around $9 billion. Concerns over collateral quality prompted mass withdrawals, highlighting risks in DeFi lending.

CoinShares reported $1.4 billion in net inflows for digital asset investment products last week, marking the largest increase since January. Bitcoin led with $1.116 billion, while Ethereum saw $328 million inflow. The U.S. contributed significantly, though Switzerland experienced outflows.

From 07:15 to 07:30 on April 20, 2026 (UTC), BTC achieved a +0.56% short-term return in mainstream markets. The price range touched 74718.5 - 75568.1 USDT, and the 15-minute intraday swing reached 1.14%. In this phase, market attention warmed up, trading activity rose noticeably, and overall volatility increased. The main driver behind this deviation is that for mainstream trading pairs such as BTC/USDT, the 15-minute trading volume increased month-over-month to +15%, forming a buy-side dominant pattern that pushed spot prices upward to break higher. Inflows directly drove the short-term upside. On-chain data shows that large BTC transfers were dispatched to new wallets in a structured, staged manner, with no concentrated sell pressure flowing to trading platforms. This releases a rebalancing signal rather than a sell signal, which helps ease short-term sell pressure. The chain

2026-04-20 07:15 to 07:30 (UTC), ETH’s short-term return reached +1.22%. The price range spanned from 2285.19 to 2332.62 USDT, with a 2.07% amplitude. During this period, market attention heated up, volatility noticeably intensified. On-chain transaction volume rose in tandem, and key mainstream on-chain activity indicators expanded significantly on a month-over-month basis. The primary driver of this deviation was an increase in transaction activity related to DeFi protocols, which boosted the share of on-chain Gas consumption. At the same time, total on-chain transaction volume saw a sharp surge in a short time. DeFi scenarios such as decentralized exchanges and lending protocols led to a direct surge in demand for ETH, driving funds to flow quickly into the market. In addition, the average Gas fees and Gas prices on the ETH network continued to climb in this window, further validating that high-frequency trading and active capital were accelerating into the market and strengthening short-term bullish sentiment. Second, on-chain data also showed an expansion in liquidity related to stablecoins and ERC20 assets, strengthening market buy-side power. Although historical large-wallets such as Wilcke still held a large amount of ETH after early March, this cycle did not trigger abnormal transfers or large-scale sell-offs. Meanwhile, the positioning structure of mainstream ETH did not show passive deleveraging or concentrated liquidation. Under the combined effects of multiple factors, global buy-side demand was amplified, and short-term ETH volatility was further elevated. Be alert to the risk of capital sustainability after a surge in high-frequency trading volume and Gas fees. If subsequent incremental buying is lacking or on-chain attention cools down, ETH may face short-term pullback pressure. Monitor changes in large-holder positions, any abnormal shifts in network fees, and liquidity volatility on the DeFi protocol chain. While there have been no signs of security incidents involving major contracts and protocols so far, short-term liquidity disturbances still need close observation. Keep monitoring fund flows and on-chain structure to stay informed about subsequent market changes.

A suspected manipulation address transferred 20 million RAVE tokens, worth about $10.67 million, to a central exchange. Today, it has moved a total of nearly 43 million RAVE tokens, valued over $34.97 million.

Tether's market cap has increased by $40 million, reaching $187 billion, and recent stablecoin circulation has added $3 billion. This reflects improved liquidity conditions, potentially signaling a price rally for Bitcoin if the trend continues.

Michael Saylor posted his iconic “orange dot” buy signal chart on the X platform on April 19, along with the caption “Think Bigger.” MicroStrategy has raised $1.76 billion in standby capital through financial instruments such as STRC preferred stock. The company’s treasury currently holds 780,897 bitcoins, with an average cost of $75,577 per coin.

Last week, spot Bitcoin ETF net inflows reached $996 million, the highest level since 2026, marking net inflows for three consecutive weeks, which is related to easing tensions between the U.S. and Iran. BlackRock’s IBIT led the way, pulling in $906 million. Spot Ethereum ETFs also performed, with Fidelity’s FETH attracting $126 million. The market needs to watch how the U.S.-Iran agreement and the Federal Reserve’s rate cuts affect ETF capital flows to determine the direction of ETF fund flows.

LayerZero's partner wallet recently distributed 1.21 million ZRO (around $1.97 million) to 52 addresses, with the largest transfer of 855,000 ZRO (about $1.42 million) to a significant centralized exchange.

Liquidity re-staking protocol Kelp’s cross-chain bridge was attacked, stealing 116,500 rsETH and depositing it into Aave V3, resulting in roughly $196 million in bad debt. Aave’s contracts were not affected, but the incident revealed the systemic risk of LRT collateral, prompting DeFi protocols to re-evaluate their risk models, which could lead to losses for stkAAVE holders.