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Gate on-chain observation ( August 29 ): ETH high leverage long positions are liquidated, SOL and LINK are continuously accumulated by institutions.
The on-chain data from the past 24 hours shows that the crypto market is experiencing capital differentiation amid high fluctuations. ETH whales continue to adjust their positions, putting pressure on the short-term trend; SOL staking activities are concentrated, indicating bullish signals from institutions; there are no significant unusual on-chain movements in the BTC market; XPL trading events are exacerbating market risks, with its cross-platform price differences widening. Aside from mainstream tokens, medium-sized tokens like FORM, LINK, and HYPE are showing a significant increase in activity driven by capital. Overall, the market is under a sideways pattern for Bitcoin, with short-term trading opportunities concentrated on individual hot tokens, but risks are rising simultaneously.
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