Last week, the total market capitalization of stablecoins increased by $1.81B to $317.11B, a 0.57% month-over-month increase.

ETH drops 0.76% in 15 minutes: Dual pressure from whales’ proactive deleveraging and ETF fund outflows

Between 07:15 and 07:30 (UTC) on 2026-04-19, the ETH spot price fluctuated in the 2298.13 to 2322.69 USDT range, with an amplitude of 1.06% and a return of -0.76%. During this period, market attention increased; the sharp drop in price triggered widespread user focus, along with a clear surge in trading volume within a short time, indicating a sudden escalation in liquidity pressure. The main driver behind this deviation is that on-chain whale accounts actively sold ETH to repay DeFi platform borrowings in order to avoid forced liquidation. Based on on-chain tracking and fund-flow monitoring, from April 18 to 19, more than 42,000 ETH per-transaction large transfers were rapidly sent into a certain mainstream exchange, and at the same time there was a sharp spike in net inflows to the exchange. This concentrated sell pressure directly weakened spot market prices. Under proactive deleveraging behavior, selling pressure was released in the short term, creating a sudden market shock. In addition, during the period of price deviation, the ETH derivatives market saw a significant rise in passive liquidation volume, especially as leveraged long positions encountered strong liquidations during the price decline, further increasing supply pressure in the spot market. Meanwhile, ETH spot ETF funds continued to see net outflows; in mid-April, there were multiple days with single-day outflows exceeding $40-50M, with the largest single day reaching $200M. This reflects a warming of short-term institutional risk-avoidance sentiment, which led to a deeper shift downward in buy-side liquidity depth. The launch of a new public chain ecosystem also attracted some ETH liquidity migration, further weakening the capital protection layer of the mainnet. Multiple structural feedback effects amplified the downside move. At present, leverage risk in the ETH market remains prominent. Some whales still have large borrowings outstanding; if the price continues to move downward, potential liquidation risks may flare up again. ETF fund flows, on-chain large transfers, and capital-attraction moves tied to the new-chain ecosystem all need close monitoring. With increased short-term volatility risk, it is recommended to watch key support zones, exchange net inflow indicators, and DeFi on-chain liquidation dynamics in order to promptly grasp the latest market signals.

AAVE Token Drops Over 18% as Whales Sell Following KelpDAO Exploit on Aave Protocol

Gate News message, AAVE token declined more than 18% today after the KelpDAO exploit created bad debt on Aave protocol. Multiple whale addresses conducted large-scale sell-offs: smaugvision sold 20,015 AAVE for 2.06M USDC at an average price of $103; Whale 0xFC56 sold 20,000 AAVE for 2.05M USDC at a

Trump Token Team Transfers 7.59M TRUMP Worth $21.81M to BitGo Custody Address

On April 19, Onchain Lens reported that the Trump Token team moved 7.59 million TRUMP tokens, worth about $21.81 million, to a BitGo custody address, typically used for future transfers to exchanges.

Aave Multisig Guardian Freezes WETH on Lending Markets

Gate News message, according to onchain data, the Aave multisig guardian has frozen WETH on lending markets. The guardian executed the freeze action through its multisignature wallet mechanism.

Galaxy Research Chief: U.S. OFAC Sanctions List Involves 518 Bitcoin Addresses

The U.S. Treasury's OFAC sanctions list includes 518 Bitcoin addresses that have significantly engaged in crypto transactions, currently holding about 9,306 BTC valued at $707 million, highlighting the relationship between cryptocurrency and financial regulation.