Key September Events:
Major events such as the Federal Reserve policy meeting (September 17), the unlocking of $4.5 billion worth of tokens, the Ethereum Fusaka testnet, and Korea Blockchain Week will shape market trends.
On-chain data shows institutional funds rotating into ETH, with stablecoin reserves hitting a record high, but new liquidity growth has slowed.
On-Chain Data Monitoring Focus:
▪️Bitcoin Fund Flow:
·Net outflows from exchanges have remained negative since mid-July, indicating continued withdrawals to self-custody.
·Exchange stablecoin reserves hit a record $68 billion, providing "ammo" for the next price rally.
▪️Ethereum Ecosystem Development:
·ETH TVL rose from $83.8 billion to $91.6 billion (+9%), while Solana increased from $9.85 billion to $11.5 billion (+17%).
·In July, DEX trading volume surpassed $1 trillion for the first time, with spot trading up by 29% and perpetual futures setting a record at $487 billion. (cryptoslate)
▪️Stablecoin Supply Trends:
·Weekly growth slowed to about $1.1 billion (down from explosive growth of $4-8 billion).
·USDT issuance growth over the past 60 days has halved to about $10 billion.
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