$SOBAT (CA EW7cWbNmTgL7PLQNiJ6tBVC62SJzJXa2pFYJjDPPpump) doesn't have snipers and insiders, team has 1% (locked for 999 days). Cryptoplug420, David, Bobo | ChainGang, kk🎒,  endlesssummer.sol are top holders.
No major clusters on the bubblemap. The CEX map cluster has 59%. Binance funded wallets have 26.2%, Coinbase 18.9%, Mexc 5.2%, Change Now 1.4%.
Top 70 holders shave 52.4%, top 10 have 14.2%, 2.68k holders with an average bag at $230. Nfa

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Author | Jeff Park (Chief Information Officer, Bitwise)
Compiled by Odaily Odaily(@OdailyChina)
Translator | Dingdang (@XiaMiPP)
Editor's Note: On February 5th, the cryptocurrency market experienced another sharp drop, with over $2.6 billion liquidated in 24 hours. Bitcoin briefly plummeted to $60,000, but the market seems to lack a clear consensus on the causes of this decline. Jeff Park, CIO of Bitwise, offers a new analytical framework from the perspective of options and hedging mechanisms. [...]

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