**Retail Demand in On-Chain Transactions Signals Positive Market Sentiment**

The volume of on-chain transactions up to US$10,000, a key indicator of small investor activity, has shown a notable increase in the past 30 days. This 13% growth in retail demand reflects a shift in market sentiment among non-institutional participants, a scenario last observed in March near the previous historical high.

Despite a four-month decline in small investor activity, recent trends indicate a resurgence. This uptick suggests a decrease in risk aversion and a renewed interest in trading among small investors, contrasting with the consistent high transaction volumes maintained by larger investors. This pattern underscores a positive outlook for the market.