【Rat, let's take a look at your on-chain data】
The phenomenon of large-scale capital inflow by Rats can also be observed on the chain.
In terms of the amount of capital inflow, Rats is on par with Pizza. However, the number of large-scale holders for Pizza is significantly higher than that of Rats, but the individual capital inflow for Rats is larger.
Over the past three months, there has been a significant accumulation of assets flowing into exchanges. The cumulative net inflow into exchanges is around 10%.
There are 24,000 holding addresses, which is the smallest among Sats, Ordi, and Rats. Rats' market value is similar to Pizza's, and Rats' advantage lies in the longer washing time, while Pizza's advantage is the official support from Unisat.
Holding Address 1: Gate Exchange
Holding Address 2: Bybit Exchange
Holding Address 3: Cold wallet of a certain exchange
Holding Address 4: Bybit cold wallet
Holding Address 5: Bitget
Holding Address 6: Kucoin
Holding Address 7: Large-scale capital inflow
Several transfers were made from Gate on June 26th and 27th
Holding Address 8: Possibly Gate's cold wallet
Why is it said to be possible? Because there is a certain degree of uncertainty. This wallet will transfer a few large amounts from exchanges such as Kucoin and Bitget every few days. The amounts are basically the same, so individual large-scale capital inflow behavior can be ruled out. Then this address is related to Sats and Ordi (mainly from Binance). This behavior was discovered during the analysis of Sats, which was initially confusing, but was ultimately determined to be related to other token analyses, confirming that it is an exchange. Therefore, it is speculated that due to the uniqueness of the Bitcoin ecosystem, exchange wallets have adopted a new strategy. It is inferred that it is Gate's cold wallet because the only target for the transfers from this address is Gate's hot wallet.
Holding Address 9: Merlin Chain
Holding Address 10: Possibly an individual large-scale holder
Holding Address 11: Possibly Matcha Exchange
Holding Address 13: Possibly Gate's cold wallet
The account behavior and reasoning logic are the same as Holding Address 8
Holding Address 14: A certain exchange
Holding Address 15: Individual large-scale holder
In March and April, there was mainly capital inflow from Gate
Holding Address 16: Individual large-scale holder
There were three transfers from Gate in May, and no movement thereafter
Holding Address 17: Individual large-scale holder
Holding Address 18: Cold wallet of a certain exchange
Holding Address 19: Individual large-scale holder
After purchasing from Gate exchange, it was transferred to this address, starting from August 17th
Holding Address 20: Individual large-scale holder
Transferred through two wallets, originating from Gate on June 30th
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