Key Takeaways
DIA crypto led the oracle segment with over 140% weekly rally, thanks to its staking demand. But realized profit surged to a record high of $11.4M per day and could cap further uptrend in the short term.
Ethereum [ETH] ecosystem projects have begun recording explosive growth amid broader market recovery and tokenization narrative.
In particular, Decentralized Information Assets [DIA], a cross-chain oracle like Chainlink [LINK], rallied over 140% this week alone.
The altcoin was the top weekly performer within the oracle segment on CoinMarketCap.
Source: DIA/USDT, TradingView
DIA crypto surged to $1 for the first time since late 2024. The rally was also fueled by the newly launched DIA staking. But profit taking spiked to record highs that could stall bulls.
DIA crypto profit-taking hits $11 mln
Glassnode data showed that holders booked profit at an average of $11.4 million per day after the recent upswing.
Compared to the rest of profiting activity in this cycle (from 2023), this was the highest average.
Source: Glassnode
In late 2024, DIA surged over 300%, attracting about $5.5M on average sell-off or profit taking. A similar surge in March 2024 saw holders locked in over $7 million per day in profits.
In both scenarios, it marked DIA’s local price peak.
With the latest offloading nearly double the past profit-taking, the sell-off could cap bulls’ ambitious goal of keeping DIA above $1 price level.
If selling heightens and drag DIA lower, the mid-range channel (white) around $0.8 could become a level of interest for late bulls seeking re-entry.
The level of profit taking was further supported by the trimming of long positions.
CoinGlass data revealed that top traders had trimmed long positions from 70% on 19 July to 48% as of press time. This meant the market skew was somewhat neutral to bearish as traders realized profits.
Source: CoinGlass
Overall, price action has been stuck within the $0.2-$1.34 price range since last year and could offer better levels for both bears and bulls seeking to capitalize on DIA’s trading opportunities.