Avalanche (AVAX) will unlock 1.67 million Tokens on August 15 at 8:00, worth approximately $35.8 million, accounting for 0.39% of the Circulating Supply.

Token unlock

Avalanche (AVAX) will unlock 1.67 million Tokens on August 15 at 8:00, worth approximately 39.8 million dollars, accounting for 0.33% of the Circulating Supply.

Arbitrum will unlock 92,650,000 ARB tokens on August 16th, constituting approximately 1.80% of the currently circulating supply.

Tokens Unlock

Tokocrypto has announced its participation in the Obras Papua Community Meetup, which will take place on August 16, in Papua. The event will focus on trading discussions and the potential of digital assets within the region. Local participants will have the opportunity to engage directly with Tokocrypto representatives and explore opportunities in crypto education and adoption.

Papua Meetup

MOBOX launches Season 21 of its Dragonverse Neo campaign, running from August 5 to August 16, 8:00 AM UTC. The event features a prize pool of 6,000 MBOX, 10,000,000 eMDBL, and 50% of player purchases. Additional perks include special item drops for MOBOX asset holders and exclusive rewards for MBOX spending, with extra bonuses for the top 5 participants.

Dragonverse Neo Campaign Season 21

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On-chain data analysis company Glassnode, in its latest weekly report, focused on the interpretation of the latest trends in the Bitcoin Stablecoin Supply Ratio (Stablecoin Supply Ratio, SSR). This metric measures the ratio between the circulating supply of Bitcoin and the total supply of stablecoins. Although it is in a neutral range, the current data, when combined with historical context, clearly indicates that investors' potential purchasing power is significantly stronger than during the peak of the last bull run. This suggests that there is relatively ample "reserve capital" to support potential upward movement in Bitcoin prices.

**Core On-Chain Data Insights: SSR Indicator Reveals Market "Reserve Funds" Status**

**On-chain data analytics company Glassnode** highlighted the latest trends of the **Bitcoin Stablecoin Supply Ratio (Stablecoin Supply Ratio, SSR)** in its latest weekly report. This metric measures the ratio between the **circulating supply of Bitcoin** and the **total supply of stablecoins**.

## Stablecoins: The "Reserve Currency" and Pricing Foundation of the Crypto Market

* **Stablecoins (Stablecoins)** refer to cryptocurrencies that are pegged to the value of fiat currencies (such as the US dollar).
* SSR specifically refers to the ratio of Bitcoin supply to **the supply of USD Stablecoins (USD Stablecoins)** pegged to the US dollar.
* Glassnode emphasizes the key role of stablecoins: they have become a core component of the digital asset ecosystem and are the main pricing assets for **centralized exchanges (CEX)** and **decentralized exchanges (DEX)**. Functionally, they represent "reserve funds" (Dry Powder) that can be used at any time to purchase digital assets.

## SSR: A key indicator of Bitcoin's relative purchasing power

* SSR essentially compares the Bitcoin supply with this portion of available "reserve funds", **directly reflecting the potential purchasing power of investors in Bitcoin**.
* **High SSR value**: Indicates that the supply of Bitcoin is relatively large compared to the supply of stablecoins → **Investor purchasing power is weak** (more stablecoins are needed to drive an equivalent increase in BTC).
* **Low SSR Value**: Indicates that the stablecoin "reserve funds" are ample relative to the Bitcoin supply → **Stronger purchasing power for investors** (the same amount of stablecoin can purchase more BTC).

## Current Focus: SSR Oscillator ( SSR Oscillator ) is Neutral

* The core of this analysis is not the original SSR, but its derived indicator – **SSR Oscillator (SSR Oscillator)**.
* This indicator measures the volatility of the **SSR's 200-day simple moving average (200d SMA)** within the **Bollinger Bands BB(200, 2)** channel.
* **Latest On-Chain Data Chart Analysis** ( shows the trend of Bitcoin SSR oscillator in recent years ):

![](https://img.gateio.im/social/moments-87a9b3933a-8365742be9-153d09-7649e1)

## Data Analysis Conclusion: Purchasing power is in a neutral range

* As shown in the figure, in the past few months, the **Bitcoin SSR oscillator has continued to fluctuate around the zero value**.
* This indicates: **Current investor purchasing power ( stablecoin reserves ) are at a neutral level relative to Bitcoin supply**.
* **Key Insights:** Although in a neutral range, combined with historical context, **the current data clearly shows that investors' potential purchasing power is significantly stronger than during the peak of the last bull market**. This indicates that there exists relatively ample "reserve funds" to support potential upward movement in Bitcoin prices.

链上数据分析公司 Glassnode 在其最新周报中，重点解读了比特币稳定币供应比率 (Stablecoin Supply Ratio, SSR) 的最新趋势。该指标衡量的是比特币流通供应量与稳定币总供应量之间的比率。尽管处于中性区间，但结合历史背景，当前数据明确显示投资者的潜在购买力显著强于上一轮牛市高峰期。这意味着市场存在相对充足的“储备资金”为潜在的比特币价格上行提供支撑。

**核心链上数据洞察：SSR指标揭示市场“储备资金”状况**

**链上数据分析公司 Glassnode** 在其最新周报中，重点解读了**比特币稳定币供应比率 (Stablecoin Supply Ratio, SSR)** 的最新趋势。该指标衡量的是**比特币流通供应量**与**稳定币总供应量**之间的比率。

## 稳定币：加密市场的“储备资金”与计价基石

* **稳定币 (Stablecoins)** 指价格锚定法币（如美元）的加密货币。
* SSR 特指比特币供应量与**锚定美元的稳定币 (USD Stablecoins)** 供应量之比。
* Glassnode 强调稳定币的关键作用：它们已成为数字资产生态系统的核心组成部分，是**中心化交易所 (CEX)** 和**去中心化交易所 (DEX)** 的主要计价资产。功能上，它们代表了可随时用于购买数字资产的“储备资金” (Dry Powder)。

## SSR：衡量比特币相对购买力的关键指标

* SSR 本质上是将比特币供应量与这部分可用的“储备资金”进行比较，**直接反映投资者潜在的比特币购买力**。
* **SSR 值高**：意味着比特币供应量相对于稳定币供应量较大 → **投资者购买力较弱**（需要更多稳定币才能推动等量BTC上涨）。
* **SSR 值低**：意味着稳定币“储备资金”相对于比特币供应量充裕 → **投资者购买力较强**（等量稳定币可购买更多BTC）。

## 当前焦点：SSR 振荡器 (SSR Oscillator) 呈中性

* 本次分析的核心并非原始 SSR，而是其衍生指标—— **SSR 振荡器 (SSR Oscillator)**。
* 该指标衡量“**SSR 的 200 日简单移动平均线 (200d SMA)** 在**布林带 BB(200, 2)** 通道内的波动情况”。
* **最新链上数据图表分析** (展示近几年比特币 SSR 振荡器趋势)：

![](https://img.gateio.im/social/moments-87a9b3933a-8365742be9-153d09-7649e1)

## 数据分析结论：购买力处于中性区间

* 如图所示，过去几个月，**比特币 SSR 振荡器持续在零值附近波动**。
* 这表明：**当前投资者购买力 (稳定币储备) 相对于比特币供应量处于中性水平**。
* **关键洞察：** 尽管处于中性区间，但结合历史背景，**当前数据明确显示投资者的潜在购买力显著强于上一轮牛市高峰期**。这意味着市场存在相对充足的“储备资金”为潜在的比特币价格上行提供支撑。

比特币稳定币供应比率 (SSR) 显示：当前投资者购买力强于上轮牛市

Bitcoin stablecoin supply ratio (SSR) shows: current investors' purchasing power is stronger than the last bull run.

Bitcoin stablecoin supply ratio (SSR) shows: current investors' purchasing power is stronger than the last bull run.

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