According to @glassnode, on a 90-day SMA basis, stablecoins now dominate on-chain value transfer with USDC at roughly $124B and USDT at roughly $68B (source: @glassnode). According to @glassnode, major native assets show comparatively lower transfer value with BTC at roughly $81B, ETH at roughly $7.9B, SOL at roughly $9.6B, XRP at roughly $2.2B, and BNB at roughly $1.6B (source: @glassnode). According to @glassnode, stablecoins have become the primary liquidity rails while native asset transfers remain subdued, highlighting where on-chain liquidity currently concentrates (source: @glassnode).

According to @glassnode, since late August ETH pulled back from a new peak while 3-10 year holders increased their average daily spending to more than 45,000 ETH per day on a 90-day SMA basis, the highest level by seasoned investors since February 2021, source: Glassnode on X Nov 14, 2025, glassno.de/49TYFoV. For trading context, Glassnode defines this metric via Spent Output Age Bands where older coin spending reflects long-term holder distribution and increased supply returning on-chain, source: Glassnode Academy and Glassnode on X Nov 14, 2025, glassno.de/49TYFoV.