W3CMX (w3cmx)

⛏️Bitcoin miners are in deep accumulation mode. Since January 2026, miner net pressure has been consistently negative — they're holding more than they're selling. Holding period normalized after the January spike (~110 days). No structural selling pressure from the largest forced sellers in the market. Built a dashboard tracking this via UTXO analysis on Dune: • Weekly mined vs spent • Net pressure • Cumulative pressure • Average holding period Full story 👇 https://dune.com/w3cmx/bitcoin-miner-flows-accumulation-vs-distribution

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On April 30, 2026, someone stole the keys to Wasabi Protocol. Not a smart contract bug. Not a flash loan. Just one admin key — no timelock, no multisig. One key, full control. In 2 hours they drained $5M across Ethereum, Base, Berachain, and Blast. 40 tokens swept in a single transaction on Base. Then the laundering began. 7 layers of wallets. Fixed 10 ETH deposits into Tornado Cash, one after another. 268 transactions. 4 days. 99.9% of stolen funds gone. Full trace 👇 https://dune.com/w3cmx/wasabi-protocol-hack-the-laundering-chain

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Every week hundreds of millions cross into Base via bridges. Over 2 years, the net result: $146M. Most weeks the money comes in and goes right back out. But twice, something different happened. Sep 29, 2025 — $465M arrived from just 453 wallets. They didn't trade. DEX volume was completely normal. Capital arrived, sat down, and waited. Apr 13, 2026 — $193M from 121 wallets. Even fewer people, even larger positions. 4 days later Circle officially launched the USDC Bridge. Retail follows news. Institutions front-run it. Full story 👇 https://dune.com/w3cmx/base-did-the-money-lead-or-follow

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Stablecoin supply grew 2.5x since Jan 2024 — from $25B to $110B across tracked chains. Ethereum still dominates at 75-80%. But that's not the story. The story is where new supply is going: Base, Arbitrum, Polygon are absorbing new issuance faster than mainnet. Two institutional signals hidden in the data: Nov 2024 surge coincided with US elections, not a crypto narrative. Apr 2026 $193M CCTP inflow came 4 days before Circle's official USDC Bridge launch. Smart money moves before the announcement. Full story 👇 https://dune.com/w3cmx/chain-wars-stablecoin-supply-by-blockchain

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Everyone talks about Base volumes. But who's actually making money? Tracked smart money on Base since Feb 2025 — wallets with 50–10,000 trades, 5+ unique tokens. Top 8 wallets made $150K combined PnL on $1B+ in volume. That's it. Two moments tell the whole story: Feb 2026 — rotated into WETH and cbBTC during BTC rally. No memes. Made $36K in one week. Apr 2026 — entered the meme cycle (SpaceX, Grok, AIDOG). Exited in the red. The only pattern that works: blue chip rotation. Everything else is noise. Full dashboard 👇 https://dune.com/w3cmx/smart-money-on-base-whois-actually-winning

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Every week hundreds of millions cross into Base via bridges. Over 2 years, the net result: $146M. Most weeks the money comes in and goes right back out. But twice, something different happened. Sep 29, 2025 — $465M arrived from just 453 wallets. They didn't trade. DEX volume was completely normal. Capital arrived, sat down, and waited. Apr 13, 2026 — $193M from 121 wallets. Even fewer people, even larger positions. 4 days later Circle officially launched the USDC Bridge. Retail follows news. Institutions front-run it. Full story 👇 https://dune.com/w3cmx/base-did-the-money-lead-or-follow

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On April 30, 2026, someone stole the keys to Wasabi Protocol. Not a smart contract bug. Not a flash loan. Just one admin key — no timelock, no multisig. One key, full control. In 2 hours they drained $5M across Ethereum, Base, Berachain, and Blast. 40 tokens swept in a single transaction on Base. Then the laundering began. 7 layers of wallets. Fixed 10 ETH deposits into Tornado Cash, one after another. 268 transactions. 4 days. 99.9% of stolen funds gone. Full trace 👇 https://dune.com/w3cmx/wasabi-protocol-hack-the-laundering-chain

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