ManLyNFT

Bear market reversals rarely feel like a fresh start.

They feel more like the market finally stops getting worse.

Bitcoin cycle momentum is now signaling a potential reversal, and that’s the part worth watching.

Not because one indicator can predict everything.

But because the best shifts usually start before people feel mentally ready for them.

By the time everyone agrees the bear is over, the chart has usually moved first.

Solana just had its biggest month ever for non-vote transactions.

5.2B in August.

The funny part is that most users probably don’t care about the chart at all.

They’re trading, minting, gaming, farming, sending, testing random apps, doing whatever crypto people do when fees don’t make them think twice.

That’s the point.

Good infrastructure should eventually disappear into the background.

You don’t feel it.

You just use it.

$SOL

$BTC used to trade like it was sitting in the Nasdaq group chat.

Now it’s starting to hang out with gold more often.

Nasdaq correlation fell from above 60% to around 33%.

Gold correlation is now above 50%.

That shift matters.

Because if BTC keeps acting less like a tech proxy and more like a scarcity asset, the whole way people value it starts to change.

Not overnight.

But slowly enough that most people only notice after the narrative already moved.

5M daily active addresses gets the headline.

But the part I find more bullish is what’s happening underneath it.

Solana just printed 1.318B non-vote transactions in a week, a new ATH, after doing 4.2B in July.

At the same time:

memecoin activity is heating up again, DEX liquidity is moving, stablecoin supply sits around $16B, and non-stablecoin RWAs have grown to roughly $3.7B across 313K holders.

Payments are expanding too, from Visa settlement to merchant integrations, while Solana increased block capacity by 66% in July.

Obviously 5M addresses ≠ 5M humans.

But when addresses, transactions, trading, stablecoins, RWAs and payments are all moving in the same direction, it becomes much harder to dismiss the growth as one temporary meta.

Solana isn't just getting more users.

It's finding more reasons for them to stay onchain.

And if this is what the network looks like before the market really wakes up, I’m pretty comfortable using days like these to keep adding
$SOL

Fear & Greed just hit 74.

Highest level since last October.

Funny how fast crypto people heal when candles start looking better.

A few weeks ago, everyone sounded tired, bored, and mentally checked out.

Now greed is already back in the room like it never left.

That doesn’t mean the market has to top here.

But it does mean emotions are warming up again.

And in crypto, once people go from “I’m done” to “maybe I should buy more”...

things usually get messy pretty fast.

I think the market is judging $ETH with the wrong scoreboard.

Ethereum mainnet fees are important, but they are only one part of the asset’s economic role.

More than 40M ETH is currently staked, equal to roughly 32% of the supply. Ethereum also holds around $41B in DeFi TVL, nearly $150B in stablecoins and close to $15B in active RWAs.

Its scaling ecosystem secures another $34B+ across L2s.

To me, this is a much stronger way to understand ETH:

It is the asset validators stake to secure Ethereum.

It is one of the deepest and most widely accepted forms of collateral in DeFi.

And it is the native asset used by rollups to purchase Ethereum’s settlement and data availability.

The concern around value accrual is still valid.

EIP-4844 made L2 transactions much cheaper by moving rollup data into blobs. That was great for scaling, but it also reduced the immediate fees flowing through the L1.

So the real question is not whether Ethereum can produce the highest TPS.

It is whether growing activity across L2s, stablecoins, DeFi and tokenized assets will eventually create enough demand for Ethereum’s security, settlement and blobspace to flow back into ETH.

That part is not fully proven yet.

But I still believe the market is focusing too much on today’s fee revenue while overlooking the amount of capital already depending on Ethereum.

I’m holding $ETH because I don’t see it as another L1 competing for transaction count.

I see it as a reserve collateral and settlement asset for an onchain financial system that is still being built.

Short-term $BTC holders just moved 32,800 BTC to exchanges at a loss in 24h.

Biggest loss realization in two weeks.

This is the part of the market nobody wants to admit.

A lot of people don’t lose because they picked the wrong asset.

They lose because the waiting becomes heavier than the loss.

$BTC ETF flows finally printed a green week again.

First time since May.

I wouldn’t call this some huge reversal yet, but it does change the tone a bit.

For weeks, the chart looked like money was just leaking out of the door.

Now at least that bleeding has paused.
Sometimes that’s all a market needs at first.

Not hype.

Just less pressure.

BNB Chain is starting to look very different from the chain people remember from the last cycle.

It now has over $4B in tokenized real-world assets, making it the second-largest RWA network behind Ethereum.

The number of RWA holders has also reached around 118K, growing nearly 27 percent in just 30 days.

For years, BNB Chain was mainly seen as a home for retail trading, memes and cheap transfers.

Now US Treasuries, tokenized stocks and other real assets are becoming part of the ecosystem too.

That matters because BNB Chain already has what many RWA networks are still trying to build: users, liquidity and distribution.

The RWA wave is still early, but BNB Chain is already in a very strong position.

Still bullish on $BNB

@CZ @Yi He @BNB Chain

A Bitcoin wallet slept for 16 years and just moved 40 BTC.

That’s the kind of conviction everyone says they have until the first scary candle shows up.

Buying early is rare.

Holding through 16 years of chaos is almost unreal. $BTC

Not every ATH shows up on the price chart.

$SOL just did 1B non-vote transactions in a single week.

That’s actually crazy when you think about it.

While everyone is waiting for the market to “feel bullish” again, the chain is already doing numbers in the background.

No need to overcomplicate it.

Price gets people talking.