📊 $BTC #CryptoQuant : Coinbase's Bitcoin spot trading volume dominance is back to pre-spot ETF levels.

For the bull cycle to continue, U.S. demand needs to rebound. I expect this in Q4, but I could be wrong.

We're mid-cycle and haven't hit the retail bubble yet.

🐳👀 $BTC #Lookonchain notes that whales began to sell BTC at breakeven.

#IntoTheBlock data shows that 836 thousand addresses bought ~402.8 thousand BTC ($21 billion) at a price of $51,113 - $54,303.

📉 #Coinglass : Network-wide open interest in $BTC options fell below $18.5 billion, hitting a new low over the past month.

📉🤔 $BTC The Accumulation Trend Score is nearing 0, indicating that market participants are either distributing or not accumulating Bitcoin at the moment.

🌐📈 $BTC The volume of transactions processed on the BTC network in 2023 exceeded the volume of transactions processed by Visa and MasterCard combined.

🔓 19,132,243 $SOL tokens, worth $5 billion at current prices, will be unlocked in 2025

📊👀 $BTC Short Term Holders have had a clear rejection from the critical zero line.

This is NOT a common occurrence in bull markets, it will take weeks or months to resolve.

Fair game for bulls to await SORP-STH, MVRV-STH and NRPL-STH to flip bullish.

📊👀 $ETH Ethereum Layer 1 fees hit annual lows, while Layer 2 activity nears all-time highs

🦄 $UNI Uniswap did 81% of Coinbase trading volume in Q2

📊 $ETH is down 44% against $BTC since The Merge in Sept 2022

ETH/BTC is now at 0.0425, the lowest since April 2021

🎢 $BTC just hit 6th on the global monetary asset ranking.

From an experiment to a financial powerhouse, BTC’s journey has been nothing short of legendary.

📉 #BlockScholes : Perpetual $BTC and $ETH Open Interest shows steady downtrend. We also see a parallel downtrend in trading volumes.

🦄📈 #UNI Uniswap just surpassed 11M monthly active users.

That’s almost a 10x from a year ago!

📉 $ETH liquidity has dropped by 20% since the launch of cellular ETH-ETFs

📊👀 $ETH Ether holders are facing increased pressure. In the past week alone, 312,183 ETH (worth $751M) has been deposited to exchanges, signaling growing uncertainty among investors.

🤴📊 $TRX $SUN : Sun.pump drives Tron Network’s non-stablecoin activity to new highs
Throughout 2024 around 98% of the activity on the TRON network could be attributed to Stablecoins.

This trend has had a major shift since the release of Sun.pump on August 9th. SunPump is a TRON-based platform that allows users to create memecoins centered around communities.

The popularity of this application has resulted in a massive change in network usage where stablecoin activity now only makes up around 75% of the token transfers compared to 98% just a month prior.

📊 $TON Data from IntoTheBlock indicates that just 9% of TON holders are currently in profit at the present price of $4.63. A significant 86% of holders are facing losses, while 5% are at break-even.

The report also highlights that only 5% of TON wallets have held the cryptocurrency for more than a year. In contrast, 62% have held TON for less than a year, and 33% of wallets have held it for less than a month.

📊👀 #Deribit : Friday options expiration by ~$1.07 billion:
– Face value of $BTC options: $780 million
- put/call ratio: 0.90
- max. pain point: $59,000;
– Face value of $ETH options: $290 million;
- put/call ratio: 0.65
- max. pain point: $2550.

📉 $BTC #CryptoQuant : The next closest target is $52K

🔮📈 $BTC #RiverFinancial : In the most optimistic scenario, we estimate that 10% of U.S. companies will convert 1.5% of their cash, or $10.35 billion, to Bitcoin over the next 18 months.