In the rapidly evolving crypto market, Telegram's announcement to make TON its primary Web3 infrastructure is a significant move. This decision is expected to enhance long-term competition, with short-term opportunities hinging on Telegram's continued dominance as a multi-faceted Web3 communication platform.

The tokenomics of the TON environment directly links Telegram's active user base to active wallet addresses for TON services and payment functionalities. The steady adoption of Telegram in under-banked and unbanked regions, such as Africa, could potentially drive the price. With a supply of 5 billion coins and an inflation rate of 2 percent, leading to an estimated 10 billion coins in 35 years, steady price increases are likely in the long run.

Price analysis over one year and a 90-day percentage return indicates steady growth in TON adoption, with increasing activity and demand for the TON coin. This trend is primarily driven by Telegram's limited features, suggesting continued upside in the token.

In conclusion, the TON coin is comparable to Chainlink in its aim to serve as a bridge for multi-faceted modern communication channels. This optimistic market outlook is based on the current trends and the strategic moves by Telegram.

Bitcoin's price is showing strong support at $60,000, nearly recovering from a 22% drawdown from its all-time high. This support level is influenced by the behavior of new and old whale cohorts.

The realized price (RP) trends for new whales, old whales, and addresses with balances exceeding 10,000 BTC have been analyzed. New whales (addresses holding more than 1,000 BTC with an average coin age of less than six months) have seen their RP rise significantly, closely following Bitcoin's market price, indicating continuous accumulation at higher prices.

On the other hand, old whales (addresses holding more than 1,000 BTC with an average coin age of more than six months) have a relatively flat RP, suggesting a stable, lower average cost basis. Addresses with balances over 10,000 BTC show a steady increase in RP, aligning with the overall bullish trend.

The alignment of new whales' RP with Bitcoin's market price, especially after the SEC approval of Bitcoin spot ETFs, indicates sustained buying pressure from this cohort. The stable RP of old whales suggests they are not significantly affecting recent liquidity changes. This analysis provides an optimistic outlook on the market dynamics and future price implications.

In a recent observation of the crypto market, it's noted that transactions exceeding $1M USD are dominating the on-chain volume of TON. This trend has been observed following the rise of Toncoin in 2024, signaling a significant increase in high-value transactions and indicating a growing interest from large-scale investors, also known as whales.

The number of such high-value transactions has proportionally increased, contributing undoubtedly to the rise in Toncoin's price. This suggests a positive market sentiment and increased network activity among these participants.

As a result, TON has evolved into a robust blockchain with high value transfer capacity. The gradual increase in participation from large investors has further strengthened its position in the market. This analysis indicates a promising future for TON and its potential to attract more significant investment.

In a positive turn of events, Bitcoin whales have shown a renewed interest in purchasing the digital currency, following a two-month decline in buying activity since March. This resurgence in buying force suggests that current prices are deemed favorable for acquisition and accumulation, despite prevailing market apprehensions. This development, as reported by Abramchart, could potentially signal a bullish trend in the cryptocurrency market, reinforcing the optimistic outlook for the blockchain industry.

In a recent market observation, the TON Blockchain is showing signs of becoming increasingly decentralized. This is evidenced by a decline in the Gini coefficient, a measure of inequality, which indicates a more equitable distribution of wealth among TON token holders.

A decreasing Gini coefficient suggests that wealth concentration is diminishing, and more individuals or addresses are acquiring TON tokens more equitably. This trend is a positive sign of increased participation and resource distribution within the TON network, further enhancing its decentralization and community inclusion.

This development in the TON Blockchain is a testament to the potential of blockchain technology in fostering a more balanced and inclusive digital economy. It also underscores the importance of continuous market observation and analysis in understanding the dynamics of the crypto market.

In a recent analysis, the relationship between Net Unrealized Profit/Loss (NUPL) and Bitcoin price was explored, providing insights into potential market trends. NUPL, calculated by comparing market value and realized value, can signal potential local bottoms when it falls below 0, indicating that the last bitcoins sent are considered expensive.

On the other hand, when NUPL rises above 0, it signifies an increase in market value exceeding the unrealized value. In bullish trends, NUPL typically fluctuates between 0.5 and 0.75, with the bull market often ending when NUPL reaches 0.70 and above.

Currently, as the market is in a bullish phase, price increases are anticipated as long as NUPL remains within the 0.5 to 0.75 range. However, caution is advised when NUPL hits 0.75, as deep corrections are likely to occur.

The analysis also incorporated the EMA 121, which indicates areas of momentum gain or loss. It was observed that EMA 121 often acts as support and resistance, suggesting potential market manipulation.

In conclusion, the bull market continues, with no signs of excess yet. This analysis provides a positive outlook for the cryptocurrency market, emphasizing the importance of monitoring NUPL and EMA indicators for strategic decision-making.

In a recent analysis of Coinbase netflow data, substantial Ethereum netflows were observed on three different days in 2024, specifically 134K, 120K, and 132K. This pattern mirrors the significant Bitcoin netflows seen prior to the approval of Bitcoin Spot ETFs, suggesting a potential correlation with the upcoming decision on the Ethereum Spot ETF.

Furthermore, a divergence between Coinbase and other exchanges in the 2024 Ethereum netflow data indicates a significant increase in US investors' interest in Ethereum compared to the rest of the world. This could be attributed to unnamed institutions making daily purchases of over $400 million, a figure too large to be attributed solely to individual investors.

While these patterns cannot definitively be linked to the Ethereum Spot ETF approval, they are worth monitoring closely. The decision on the Ethereum Spot ETF is expected by the end of this week.

In a recent blockchain report, the definition of Accumulation Addresses was clarified. These are addresses with no outgoing transactions, a balance exceeding 10 BTC, not belonging to CEX or miners, receiving more than two incoming transactions, and with the last transaction within the past seven years.

Data showed significant inflows to Accumulation Addresses on May 15th during a local market correction. This suggests that during price dips, these addresses tend to receive higher inflows, indicating buying interest at lower prices. As BTC prices dipped, the balance in these addresses increased, reinforcing the idea of accumulation during corrections.

The analysis reveals that investors might use market dips to accumulate BTC. Understanding these inflow patterns provides valuable insights into market behavior and investor sentiment during price corrections. By monitoring these trends, investors and analysts can better predict potential market movements and make more informed decisions. This optimistic outlook reflects the resilience and adaptability of the crypto market.

In a recent market observation, Ethereum's trading activity has shown significant bullish sentiment. This follows ETF Specialist James Settfort's announcement of a 75% likelihood for an Ethereum ETF, which has sparked a rush among traders to go long on Ethereum.

Net Taker Volume, a measure that highlights the difference between buying and selling volume facilitated by market orders, has seen a notable surge. Market orders, which prioritize positioning over price, often indicate traders' willingness to pay more for immediate execution.

In the wake of the ETF news, Binance traders have shown an overwhelming response. The Taker Buy Volume surpassed the Taker Sell Volume by a staggering $530 million in just one trading session, marking the largest such differential ever recorded. This fervor among traders underscores the optimistic outlook for the blockchain and cryptocurrency market, particularly for Ethereum.

The Open Network (TON) Token, a leading layer one cryptocurrency, has seen its price surpass Bitcoin by +118% since the start of the year. A study of price fluctuations across different trading sessions reveals varying investor sentiments.

American investors appear the most bullish on TON, with significant percentage changes during the US session. The token experienced the highest average percentage increase during this period. Conversely, European traders seem more bearish, with multiple instances of negative price changes during their session. Asian traders show a more balanced approach, aligning with past price performance, spanning both positive and negative trends.

For short-term trading, it's recommended to seek long positions during US sessions, while shorting is preferable during the EU session. This analysis provides valuable insight for investors looking to navigate the volatile cryptocurrency market.

The 60-Day Realized to Market Capitalization Variance (RCV) is a novel metric developed to examine the disparity between Bitcoin's realized capitalization and market capitalization over a 60-day span. The variance is normalized by the average market capitalization, providing a transparent perspective on the correlation between these two vital financial indicators.

Realized Capitalization refers to the sum of market values of all Bitcoin at the last moved price, offering a more stable and less speculative value than market capitalization. On the other hand, Market Capitalization is the total market value of all Bitcoin in circulation, determined by multiplying the current price by the total supply.

The RCV metric is an invaluable tool for investors and analysts. It can indicate whether the market is overly optimistic or pessimistic by comparing market and realized capitalizations. It aids in making informed investment decisions, particularly during market extremes, by identifying periods of significant variance. Furthermore, it assists in evaluating the risk levels associated with Bitcoin investments by understanding the divergence between market perception and actual transactional data.

The RCV metric is a robust addition to anyone's toolkit analyzing Bitcoin's market performance, offering a nuanced market view that combines both speculative and intrinsic value assessments.

In recent days, the crypto market has witnessed a significant surge in spot exchange stablecoin deposits, with minimal corresponding increases in withdrawals. This trend, as observed by Phi Deltalytics, suggests a rising demand in the crypto spot exchanges.

Historically, such market dynamics have often been the precursor to significant short-term bullish or bearish moves. This pattern indicates the potential for notable price action in the near term.

The current market conditions, therefore, present an optimistic outlook for the crypto market. The increased demand and the potential for significant price movements suggest that the market is poised for growth. This could be an opportune time for investors to closely monitor market trends and make strategic investment decisions.

In a recent market observation, the short-term Spent Output Profit Ratio (SOPR) has found support above 1, indicating a bullish sentiment in the cryptocurrency market. This metric suggests that coins moved on a given day are, on average, selling at a profit.

The recent retest of the 1 level, which represents the break-even point for short-term holders, is particularly significant. This suggests that holders are unwilling to sell at a loss, thereby reducing selling pressure in the market.

As the SOPR consistently remains above 1, it signals that profit-taking is being absorbed. With the market not overly heated, this dynamic has the potential to push Bitcoin's price upwards. This analysis, provided by Phi Deltalytics, offers an optimistic outlook on the future of the digital currency market.

In the latest market update, Bitcoin's funding rate has shown signs of stability, with the 7-day Simple Moving Average at 0.45%. This is a considerable decrease from the 3-4% observed in early March when Bitcoin's price was lower. The current rate mirrors those seen in September and April of last year, periods that were followed by bullish price trends.

Historically, higher funding rates have often preceded market corrections. In March 2021, a near 3% rate was seen before a drop to $30,000, and in November 2021, rates between 0.7% and 0.8% were observed before the onset of the 2022 bear market.

This current stabilization in Bitcoin's funding rate, therefore, presents a positive outlook for the cryptocurrency market. The data suggests potential for a bullish trend, offering a promising future for Bitcoin investors.

Written by Phi Deltalytics.

In a recent analysis of the crypto market, aSOPR data was used to indicate potential selling patterns. When the market fell to the 56K level, some investors were selling at a loss, suggesting a potential bottom. Following this, a change of hands was observed as the metric fell below 1, leading to an increase in price and profitable sales.

Potential support and resistance levels were also identified, indicating key points for transaction considerations. As the metric increases, selling pressure also rises. However, when it falls below 1, more sales are made at a loss, indicating a potential for buying opportunities.

In a bullish market, the 0.95 level appears to offer the best gains. This optimistic outlook suggests that despite the volatility, there are still profitable opportunities within the crypto market.

The MVRV Z-Score, a highly effective on-chain metric, has been instrumental in identifying market risk based on Bitcoin's realized value. It recently indicated a significant peak at the $72,000 range, mirroring the pattern observed at Bitcoin's all-time high in November 2021. Despite the current market risk appearing lower than previous months, the $72,000 range remains a short-term market ceiling.

For long-term investors, especially those using a dollar-cost averaging (DCA) strategy, patience is key in these zones (specifically within the 3-4 range of the MVRV Z-Score). These zones are high-risk areas, and it's crucial to optimize entry points rather than trying to predict price ceilings.

The MVRV Z-Score can be used to determine market entry and exit zones. In low-risk areas, investors can accumulate, and as market risk increases, managed selling or additional average investment during price corrections can be considered.

Other metrics derived from Realized Cap, such as Realized Price and MVRV Ratio, are also valuable tools for assessing actual risk in the Bitcoin market. Remember, successful investments don't require hunting for market tops and bottoms.

The Ethereum Open Interest metric, a measure of open perpetual futures contracts across different cryptocurrency exchanges, is being closely monitored by investors amid Ethereum's recent uncertain price action. Higher values of this metric can indicate potential market volatility and trend sustainability, while lower values suggest a cooling off in the perpetual markets.

Following a period of sideways consolidation, there has been a significant surge in Open Interest, indicating increased futures market activity and more aggressive long or short positions. This could signal a potential notable price move in the short term, depending on the direction of these positions. If the funding rates metric also increases, the market could be set for renewed bullish trends in the mid-term. Traders, however, should be cautious as heightened volatility may accompany this activity.

In a recent development, whales have moved over $1 billion in Toncoin, indicating significant activity among the largest addresses on the network. On-chain data reveals that transactions from 0 to 100 TON account for 99% of all transactions, but their impact is relatively low, moving only around 4 to 5 million TON. In contrast, transactions between 100,000 and 1 million TON dominate the volume, recently reaching 135 million TON, accounting for 53% of the total volume.

Transactions over 1 million TON represent 30% of the total volume, indicating that TON whales have primary control over the blockchain and significantly influence the price of TONCOIN. Analyzing the distribution by dollar value, transactions over $1 million set records, surpassing $1.3 billion moved in a single day.

Interestingly, high volume spikes in these transactions tend to positively impact the price of TONCOIN. In conclusion, TON whales play a crucial role in moving large volumes of TONCOIN, significantly impacting the market and the price of this cryptocurrency. Monitoring the movements of these large transactions could provide valuable insights into the trends and fluctuations in the value of TONCOIN.

In recent crypto market observations, new whales, defined as addresses holding over 1,000 BTC with less than 6 months of coin detention, have been strategically accumulating Bitcoin around the $60,000 mark. This consistent purchasing behavior suggests that $60,000 has become a significant on-chain support level, reinforced by the substantial influx of institutional investors following the approval of Bitcoin spot ETFs. The average acquisition cost of these new whales is approximately $60,000, highlighting their entry confidence and the robustness of this price level as a floor for BTC.

On the other hand, long-term whales, those holding more than 1,000 BTC for over 6 months, exhibit a stable realized price, reflecting their seasoned investment strategies and low turnover rates. This stability is indicative of a long-term accumulation approach and demonstrates a deep-seated confidence in Bitcoin's long-term value.

The interaction between new and old whales’ realized prices presents a comprehensive view of market dynamics. The significant accumulation by new whales, bolstered by institutional investment and Bitcoin spot ETF approvals, reinforces the $60,000 support level. Meanwhile, the stability exhibited by long-term whales provides a foundational layer of confidence and strategic holding patterns. Therefore, the $60,000 price point emerges as a critical on-chain support level, underpinned by both new whale accumulation and long-term holder stability.

In the cryptocurrency market, Bitcoin (BTC) outflows from exchanges to wallets have been notably evident following the test of the 73k zone. Particularly after March 13, the number of BTC entering the market closely aligns with the numbers on the green candles. Conversely, on the red days, a dominant superiority is apparent.

These BTC movements are significant. When BTC enters an exchange, it tends to create a bearish expectation. However, when BTC is taken off an exchange, it increases the bullish expectation. This trend suggests a positive outlook for the cryptocurrency market, reinforcing the potential for growth and stability in the digital currency sector.

Written by a blockchain industry professional, this analysis underscores the importance of monitoring these movements to understand market trends and make informed investment decisions.