Recently, the market capitalization of many cryptocurrencies has experienced a significant fall. The underlying reasons for this phenomenon have been a focal point of market attention. The latest on-chain data analysis reveals the answer: the concentrated selling behavior of a large number of whale-level investors is the main reason for this round of market fall.

The transparency and verifiability of on-chain data provide us with a clear understanding of market trends. Every transaction is recorded on the blockchain, allowing us to accurately track the flow of funds. By analyzing this data, we can better understand the underlying reasons for market fluctuations.

This finding once again emphasizes the importance of paying attention to the behavior of large holders. In the cryptocurrency market, tracking the movements of whales often provides valuable market insights. However, investors should also keep in mind that blindly following the actions of large holders is not always a wise move.

In the face of market fluctuations, investors need to remain calm and make rational decisions. By gaining a deep understanding of the market fundamentals and combining it with on-chain data analysis, one can find the right investment direction in this highly uncertain market. In the future, with the further development of data analysis tools, we hope to obtain more accurate information about market trends, allowing us to make more informed investment decisions.