CryptoQuant analyst CW8900 points out that the total market capitalization of stablecoins has declined for over a month, from $270.3 billion on October 1st to $263.4 billion, with $6.9 billion flowing out of the market in the past month. CW8900 states that bull market trends are typically accompanied by capital inflows; currently, with continuous capital outflows and Bitcoin in a bearish phase, a market rebound requires a return of stablecoins.

Tom Lee purchased 5,000 ETH through Kraken 5 hours ago, worth $11.22 million. Tom Lee has been consistently buying ETH weekly since the end of June last year, accumulating 6.06 million ETH over the past year and a half, with an average cost of $3,329. (Ember)

[Synthetix Protocol DAO Transfers 428,000 SNX Tokens Involved in Stolen Tokens] The Synthetix Protocol DAO transferred approximately 428,000 SNX tokens related to the Mercado Bitcoin security incident to its DAO address.

The contract account at address 0x4044…794c has accumulated losses of approximately $20.91 million and reduced its BTC long positions by approximately $7.71 million.

Brazilian cryptocurrency exchange Mercado Bitcoin announced it will absorb $40 million in losses from a hack, with no impact on customer assets. The attack has been contained, and the team is investigating the incident, tracing assets, and coordinating with authorities and partners. (Source: Bloomberg)