#THE Surges Over 30%, Has the Bottom Been Successfully Established?
After a decline of 75% from its peak, $THE has rebounded over 30%, with its market capitalization exceeding $140 million again!
🔹 Key Data
Daily trading volume has rebounded from $75.06 million to $158 million, a 55% increase from the lowest point!
TVL has bounced back from a low of $28.89 million to $80 million, showing a trend of capital inflow.
Spot Trading
Binance is the largest exchange for $THE, with a 24-hour trading volume of $47.24 million, accounting for 51% of the total trading volume!
In the past 5 days, a total of 5,685,021 $THE (worth $9M) has been deposited into the exchange!
In the past 10 hours, $1 million in funds flowed in to purchase $THE, driving the price rebound over 30%!
Perpetual Data
Binance's perpetual contract trading volume reached $21.59 million, with an open interest value of $27.30 million.
In the past 7 days, the active selling volume exceeded the buying volume by 2%, with bears dominating the market, and the current funding rate is -0.06%.
⚠️ Note: Bears are in control, be cautious of possible explosive market conditions!
On-Chain Data
Highly centralized: The top ten holding addresses hold 92.93% of $THE!
The 2nd, 3rd, and 7th largest holding addresses are Binance addresses, collectively holding 63,300,715 $THE, accounting for 74% of the circulating supply!
Whale Activity
Address 0x2db9e2a59c1e9fbb2cd2bf445794e629cc9efd25:
On December 16, withdrew 158,513 $THE (worth $258,116) from Bybit at an average price of $1.63.
It has now become the 25th largest holding address, achieving a 10% return in 13 days!
Summary and Outlook
1️⃣ Significant capital inflow, funding rates have turned positive, and the market is gradually returning to balance.
2️⃣ Analyzing the top 100 addresses, no signs of large holders reducing their positions on-chain have been found, indicating strong control still in place.
