10 #Bitcoin ETFs outflows 2,152 $BTC(-$201.21M) and 9 #Ethereum ETFs outflows 45,684 $ETH(-$148.11M) yesterday.

Cointelegraph reported on February 4 that Coin Metrics has observed a sharp decline in Ethereum network fees since the network’s Fusaka upgrade in December 2025, which has boosted the efficiency of on-chain operations. Currently, Ethereum’s average daily transaction volume exceeds 2 million, and active addresses are up 60% from their prior average level. Coin Metrics noted that low gas fees have spurred a surge in "dusting attacks": stablecoin (USDC and USDT) "dust transactions" now account for roughly 11% of total Ethereum transaction volume and 26% of daily active addresses. Before the upgrade, dust transactions made up only 3%-5% of total volume—but that share has tripled post-upgrade. A dusting attack refers to hackers sending small amounts of tokens to random addresses to track wallets or disrupt the network.

February 4: Onchain Lens data shows whales continued accumulating gold-backed tokens as gold again topped $5,000. - Whale address 0xf56 spent 8.09M USDC to buy 1,636.77 XAUT at $4,943 each. - Whale address 0xa92 used $6M worth of WBTC and stETH to purchase 564.27 PAXG + 631.56 XAUT, averaging $5,020 per token. - Whale address 0x09e allocated 4.85M USDT for 977 XAUT at $4,961 each.

Feb 4 — Per the Coinbob Popular Address Monitor (https://t.me/Coinbob_track_CN), crypto KOL CBB (@Cbb0fe on X) has been adjusting positions on Hyperliquid lately, maintaining a large short position in the blockchain’s commodity chain. His current total position size exceeds $40.8 million, with recent key positions leaning bearish on silver and semiconductor storage sectors. ### Current Account Metrics - Total short position: ~$37.4 million - Total long position: ~$2.45 million - Cumulative profit: ~$9.3 million - Weekly profit: ~$1.27 million ### Key Positions Positions are concentrated in SILVER (Silver Synthetic Contract) and shorts on INTC (Intel), SNDK (SanDisk), and MU (Micron). Details: - xyz:INTC (3x Short): ~$6.9M size, avg price $49, liquidation ~$62.9 - xyz:SILVER (3x Short): ~$6M size, avg price $85.3, liquidation ~$111 - xyz:SDK (3x Short): ~$5.16M size, avg price $665.2, liquidation ~$845 - xyz:MU (3x Short): ~$4.47M size, avg price $425.1, liquidat

February 4th, CoinDesk reported: Rui-Siang Lin—the alleged operator of dark web drug marketplace Incognito Market—was sentenced to 30 years in U.S. federal prison Tuesday, marking one of the largest online drug market cases since the Silk Road case. The U.S. Attorney’s Office for the Southern District of New York stated Lin used cryptocurrency and anonymous tools to hide his identity, but investigators linked him to the platform via domain records and digital traces. Lin, whose online alias was “Pharaoh,” pleaded guilty in December 2024 to multiple charges including drug conspiracy, money laundering, and conspiracy to sell counterfeit and mislabeled drugs. The office noted the platform facilitated over $105 million in illegal drug transactions between October 2020 and March 2024, with more than 640,000 transactions serving hundreds of thousands of global buyers.

On February 4, the Financial Times reported that stablecoin issuer Tether has reduced its funding target from a prior $15 billion–$20 billion range to $5 billion, as investors have raised questions about its $500 billion valuation. Tether CEO Paolo Ardoino told an interviewer the $15 billion–$20 billion figure was a “misunderstanding”—it was only the maximum amount the company was willing to sell, not a formal target. He stressed Tether is highly profitable and “very satisfied” even without selling equity. Ardoino also likened Tether to an AI firm, saying: “AI companies generate the same profit as us—except there’s a negative sign in front.” The stablecoin issuer reportedly earned ~$10 billion last year, mostly from returns on its held assets, though 2025 profit is expected to fall by roughly 25% year-over-year. Earlier reports noted that in September 2025, Tether sought to raise up to $20 billion at a $500 billion valuation.

On February 4, monitoring by HyperInsight (via https://t.me/HyperInsight) shows the "20 Million Band Hunter" address (0x880a...) closed out part of its ETH long position, reducing 155.17 ETH long contracts worth roughly $366,100. Following this move, the total value of its ETH long position fell to $1.0965 million. The position is currently in floating profit of ~$9,600, with a 10.51% return rate. Its average entry price rose from $2,257.91 to $2,259.63. This address has long focused on high-frequency multi-asset arbitrage trading, with an average holding period of ~20 hours. Since October 2023, starting with an initial principal of ~$20 million, it has accumulated nearly $100 million in realized profits.