MARA sold 13,597 $BTC after quarter-end. Where did the cash go? ⛏️ From MARA's Q3 shareholder letter (9 Nov): ~$1.1B of sale proceeds $750M of debt repaid 17,477 BTC of collateral released
Sell some BTC, pay down debt, free up more BTC.
Public companies have sold 108,247 BTC in 2026 (Lookonchain). Not all of it is the same kind of selling.
A token named "Claude" launched on a brokerage-backed L2 on Monday. We ran our 30-second check on it twice, 24 hours apart.
📉 Liquidity Monday: $10.27M Today: $0.21
⏱️ Volume per hour At launch: $17.7M Next 30 min: $4.6K Last 24h: $196 Last 6h: $7
👛 Holders (GoPlus) 5,048 holders One address: 99.99% of supply Everyone else: 0.013%
🔁 Second time in a week 2 Nov, the first "Claude": liquidity $10.18M vs valuation $10.21M 9 Nov, the second "Claude": liquidity $10.27M vs valuation $10.20M
When liquidity ≈ the whole valuation, the "liquidity" is mostly the token itself. It can leave as fast as it arrived.
The check: 1️⃣ Liquidity ÷ valuation near 100% = warning 2️⃣ One wallet holding most of the supply = warning 3️⃣ Volume collapsing after the first hour = warning
No claims about who added or removed the liquidity. Not affiliated with Anthropic.