Liquidity across the digital asset market continues to dry up, with both on-chain and off-chain volumes reaching historical lows. Whilst HODLing remains the market preference, a significant proportion of the supply is teetering on the edge of falling into a significant unrealized loss.

Executive Summary
- Liquidity, volatility, and volumes continue to compress across the digital asset market, with many metrics falling back to 2020 pre-bull levels.

- Stablecoins are experiencing a persistent decline in supply as redemptions are made across all major stablecoin assets with the exception of Tether (USDT).

- The Long-Term Holder cohort are steadfast in their holdings, spending remarkably little of it.

- Short-Term holders on the other hand are teetering on the edge of profitability, with a large majority of their supply acquired above the current price range.

Read more in The Week On-chain Newsletter and our latest Video Report.