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Ethereum Quietly Flipped From Crash to Recovery - Now at a 5-Week High

ETH just printed ~$1,924, its highest in about five weeks. That's a real turn for a coin that looked broken a month ago.

Rewind: after ranging $2,250–$2,420 in April, ETH slid through May, then got hit with a violent early-June washout - from ~$2,000 on June 1 to ~$1,570 in just five days (–22%). It retested that floor on June 25 at $1,565, the 100-day low, and has climbed ever since.

The recovery has been textbook: higher lows (June 25 $1,565 → July 17 $1,841) and now a push to a fresh local high, riding the same CLARITY-progress and risk-on tape lifting the whole market. ETH is up ~23% off the June bottom and ~13% over the past 30 days.

But keep perspective. ETH is still down ~19% over 90 days and ~20% below its April high near $2,420. This is a recovery inside a larger drawdown, not a breakout to new highs - the repair job isn't finished.

Levels that matter now: • Support: ~$1,840 (the July 17 higher low), then ~$1,770 • Resistance: the $1,917–$1,924 shelf it's testing, then $2,000, then ~$2,130

The setup: hold $1,840 and reclaim $2,000, and the uptrend has real legs. Lose $1,770 and it's back to chop. The tell to watch is whether spot demand and ETF flows confirm - momentum without inflows tends to fade.
$ETH shifted from falling knife to higher-lows recovery. Constructive, but it still has ~$500 to make up before "back to trend" is the right call. #BTC Price Analysis# #Meme Alpha# #Altcoin Season#

$XAUt for the the past six weeks have been a slow grind lower inside a range - from ~$4,300 in early June to a $3,990 low on July 17, now stabilizing around $4,050–4,100. That's post-top consolidation, not a crash.

The buy/sell matrix explains the drift: takers have been net sellers on roughly two-thirds of days, with buy share averaging ~47% (so ~53% sell-side). The heaviest selling hit the high-volume mid-June sessions - ~$35M net sold on June 10, ~$30M on June 17 - exactly when price rolled over. Net-buy days have been sporadic and small.

But the pressure is easing. July 19–20 printed back-to-back net-buy days as price held $4,000, before July 21 tipped back to mild selling. Sellers still lead - just less forcefully than in June.

What to watch: Buy share flipping durably above 50% = real accumulation • The ~$3,990 floor - losing it extends the pullback • A reclaim of ~$4,300 = sellers exhausted

XAUT/gold is digesting its January blow-off top. Flows still say distribution, but it's softening - the tape is closer to balance than the price drift alone suggests.
$BTC #BTC Price Analysis# #Gold

Every time I enter a farming position that pays rewards in a specific token I'm making two bets simultaneously. One on the pair I'm providing liquidity for. One on the reward token I'll be accumulating throughout the farming period. Most farming content covers the first bet in detail and treats the second one as a footnote. That ordering is backwards for most active farming programs right now. Here's what reward token risk actually looks like in practice. A farm paying 80% APR in JETTON is distributing JETTON continuously throughout the farming period. The APR calculation uses today's JETTON price. If JETTON falls 30% between now and when you claim your rewards, your real purchasing power yield fell 30% alongside it. The nominal APR stayed at 80%. Your actual return did not. Three things I check on the reward token before entering any farm. Price trend over the past 30 days. Not to predict the future but to understand the current direction the APR calculation is operating against. An accelerating downtrend means each day of farming produces rewards worth less than the day before in real terms. Circulating supply versus total supply. A large gap between these two figures means significant unlock pressure is coming. Unlock pressure is persistent selling that doesn't require any change in market sentiment to materialize. What organic demand for the token looks like independent of the farming program. If the primary reason people hold the reward token is to farm it back into another position, the selling pressure when they do is structural rather than sentiment-driven. The farm APR is what the program promises to distribute. The reward token's price trajectory is what determines whether that distribution is worth what it looks like on screen. Explore active farms → https://app.ston.fi/pools?selectedTab=ALL_POOLS&sortBy=farm_apr%3Adesc&search=&farmingAvailable=true Explore STONfi and its product→ https://linktr.ee/ston.fi $SOL #ETH #BTC Price Analysis# $ETH

#Bitcoin pushing to $66K on ETFs actually buying the dip is a genuinely different setup than most bounces this cycle, real spot demand showing up right at the low rather than a leverage-driven spike. What stands out to me is the timing of that ETF behavior. A $425 million outflow on July 13 marked the $62.2K low, then flows flipped positive almost immediately, five straight sessions of green inflows rebuilding AUM from $75.8 billion back to $79.4 billion. Personally, I think that sequence, capitulation outflow followed by immediate absorption, is more constructive than price simply grinding higher on thin participation. $68K is the level that actually matters though. Analysts have flagged it as the breakout confirmation, and the distinction between a daily close above it versus an intraday wick is important, wicks get faded, closes tend to hold. Until that happens, this remains a recovery attempt rather than a confirmed shift. The part I'd watch most carefully is the CLARITY Act angle mixed into today's move. Part of this pop rode an unverified report that Trump agreed to the ethics provision, pushing CLARITY odds to 43%. That's rumor, not bill text, and given how contested that ethics language actually is, a walk-back could unwind a real chunk of today's gain fast. The leverage picture adds nuance too. Open interest rising alongside ETF inflows is healthy. If funding rates run hot while spot stays flat, that's crowded longs setting up for a squeeze. The honest read, ETFs buying the dip is the real bullish tell. But this breakout still rests on an unconfirmed political headline and weak volume, $68K, sustained flows, and funding are what actually confirm it. #BTC Price Analysis# $BTC #Altcoin Season# #Meme Alpha#

Polymarket's "CLARITY signed into law in 2026" contract jumped to 43%, up from 32% on Friday 12, after reports that President Trump agreed to advance a version of the ethics provision - the bill's last real blocker. The catalyst was concrete: journalist Eleanor Terrett posted that Trump signed off on ethics language and that the text was shared with a group of Senate Republicans 3. Crypto rallied with it - BTC back above $66K (+3.5%), ETH and XRP up more, the DeFi index +9% 3.

So the market isn't front-running a mystery. It's front-running a specific, credible-but-unconfirmed headline - exactly what prediction markets are built to do: price news faster than the cycle digests it.

Two reasons to stay skeptical:

It's still below 50%, and below where it sat a month ago. Smart money repriced up, not to conviction - and Democrats reportedly haven't seen the text, with no official language released 2.
We've seen this movie. Odds hit ~82% in February and ~74% in May, and popped above 50% on the July 4 "text coming" news - then faded every time 45. This is the fourth "a deal is close" spike of the year.
The real tell isn't 43% - it's whether actual bill text drops and Majority Leader Thune schedules floor time before the ~Aug 8 recess. Headline odds without text are a rumor with a price tag.

Traders don't know something you don't. They're just reacting to an ethics-deal report first - and even they are only 43% convinced. $BTC #BTC Price Analysis# #Altcoin Season# $XRP

Abraxas Capital Is Buying ETH Again - What's Actually Verifiable

On-chain trackers flagged another Ethereum buy from Abraxas Capital today (~$30M, unconfirmed). Whether or not that exact tag holds, the pattern behind it is real: the London-based asset manager has been one of ETH's most aggressive institutional accumulators.

The track record: in 2025 Abraxas scooped 211,030 ETH (~$477M) in a single six-day stretch, and at its peak had ~$837M allocated to Ethereum - partly financed by borrowing USDT from Aave and routing it through exchanges. This is a thesis-driven, leverage-assisted playbook, not a one-off.

What's different now: ETH trades near ~$1,870, well below the ~$2,500 levels of that 2025 spree. Fresh buying here means doubling down at materially cheaper prices - a dip-accumulation signal, not chasing strength.

Why it matters: large, self-custodied whale buys pull ETH off exchanges and tighten sell-side liquidity - mildly bullish in isolation. The catch: wallet-tracker "buys" can be OTC settlement, collateral moves, or rebalancing rather than net new demand, and stablecoin-funded accumulation can unwind fast.

Bottom line: treat "$30M in the last hour" as an unconfirmed on-chain tag - but the bigger story, Abraxas as a persistent ETH bull buying into weakness, is well documented. Watch exchange outflows and ETH's reaction around $1,870.
$ETH #BNBChain# #BNBChain#

Both Saylor and Tom Lee stopping or slowing accumulation would be a genuinely different signal than either one selling. These are entities whose entire public thesis is built on continuous accumulation, so even a pause reads louder than it would for a typical trader.

Strategy's own pattern this year gives useful context though. Saylor sold 32 BTC in May explicitly as a market test, then sold 3,588 BTC in June specifically to fund STRC dividend obligations, both framed as capital structure management rather than a change in conviction.

If accumulation is genuinely slowing now, the more likely explanation sits in financing constraints rather than Saylor suddenly turning bearish on Bitcoin itself. His own framework has been using math over ideology, selling or issuing stock, whichever preserves bitcoin per share for common holders.

Bitmine sitting close to its 5% ETH supply target adds a different angle for Lee specifically. If they're near completion of a stated goal, slower buying could simply mean approaching the finish line rather than losing conviction, especially with mNAV compression making further equity-funded purchases more expensive right now.

I think the more useful signal isn't whether these two specific buyers pause, it's whether ETF flows and broader institutional demand pause alongside them. Individual treasury companies slowing for balance sheet reasons is a narrower story than the demand side of the market broadly stalling.

The honest read, a pause from either of them deserves attention given their outsized role in this cycle's demand narrative, but "do they know something" implies insider foresight that their own public statements don't really support.

Their recent behavior points more toward funding mechanics and target proximity than toward a coordinated signal that something's wrong.
$BTC $ETH #Macro Insights# #BTC Price Analysis# #Meme Alpha#

Most guides on moving assets from TON to EVM chains answer the wrong question. They explain which tool to use. The question that actually matters is what you want to end up with on the other side.
The two available architectures produce different assets at the destination and fail in different ways when something goes wrong.

The bridge path locks your TON-side asset and mints a wrapped representation on the destination chain. What arrives is not a native EVM asset. It's a bridge-dependent token that carries its own trust assumptions and may require manual registration in the destination wallet before it's usable.

The atomic swap path through Omniston delivers the native destination asset directly. A resolver locks the EVM-side asset in an HTLC before your TON-side asset commits. Both settle simultaneously through the same cryptographic condition. If the swap cannot complete, both sides unwind through the timelock automatically. No support ticket required.

Which destination makes sense depends on what you're actually trying to do. Ethereum is the right choice for larger positions and major pairs where liquidity depth matters more than execution cost. Base is the cleaner choice for smaller, more frequent moves where low fees matter more than absolute depth. BNB Chain is the most direct path to retail tokens and projects that launch there first.

The pre-flight check before any cross-chain move: verify the destination wallet address, confirm there is real liquidity for the asset you expect to receive, save the transaction hash immediately after submitting, and keep a small TON reserve in the source wallet throughout.
Read the full guide → https://blog.ston.fi/how-ton-users-can-access-cross-chain-liquidity-on-ethereum-base-and-bnb-chain/
Try cross-chain swaps → https://app.ston.fi/swap?mode=cross-chain
$BTC $PI #Macro Insights# #BTC Price Analysis#

Hyperliquid's Stablecoin Base 8x'd to ~$6B in 2026 - Now Bigger Than Every Major L2

Hyperliquid's HyperEVM has quietly become one of crypto's biggest stablecoin hubs. On-chain stablecoin supply has reached ~$5.9B, up from ~$0.7B at the start of 2026 - an ~8x jump that added more than $5B in seven months.

That growth vaulted it past every major Ethereum L2. HyperEVM now holds more stablecoins than Base (~$4.5B), Polygon (~$4.1B) and Arbitrum (~$4.0B) - chains that have been live for years. Among all chains it ranks 5th by stablecoin market cap, trailing only Ethereum (~$159B), Tron (~$92B), BSC (~$17B) and Solana (~$15B). Strip out the two incumbents and it's the 3rd-largest of the rest.

The ramp is steep and recent: ~$1.4B in March, ~$3.2B in May, ~$5.6B in June, ~$5.9B now. Stablecoins are the collateral layer of Hyperliquid's perp exchange, so this isn't idle capital - it's margin and settlement liquidity powering one of the most active derivatives venues in crypto.

Why it matters: stablecoin supply is the cleanest proxy for "real money parked on a chain." Going from sub-$1B to ~$6B in half a year signals genuine capital migration, not just price mark-ups. The risk: it's concentrated in one ecosystem's trading use-case, so it could leave as fast as it arrived if activity cools.

HyperEVM is now a top-5 stablecoin chain and the fastest-growing of the group. Watch whether it holds ~$6B - and whether it starts pressuring Solana and BSC next. $HYPE #BTC Price Analysis# #Macro Insights# #Meme Alpha#

Les ETF XRP ont été discrètement retirés de 361 M$ en 2026 - Alors pourquoi l’AUM reste stable ?

Les ETF spot XRP ont enregistré des entrées nettes sur 6 des 7 mois de cette année, ajoutant environ 361 M$. Pourtant, l’actif total sous gestion s’établit à quelque 948 M$ - essentiellement stable par rapport au début de l’année (~1,03 Md$ en janvier). À première vue, cela ressemble à une demande en panne. Ce n’est pas le cas. L’écart entre des achats réguliers et une AUM stable raconte toute l’histoire.

Les entrées se sont renforcées progressivement au printemps, culminant à +140 M$ en mai, tandis qu’avril (+87 M$) et février (+66 M$) suivaient de près. Le mois de mars a été le seul mois de sortie (–31 M$). Sur la même période, toutefois, le prix de XRP a baissé d’environ 33 % - de ~1,64 à ~1,10 - compensant presque tout le nouvel argent et maintenant l’AUM en dollars dans une fourchette de 0,9 à 1,1 Md$ tout au long de l’année.

Voici le signal que la plupart des gens manquent : comme les entrées ont continué d’ajouter des pièces libellées en XRP (XRP -denominated coins) aux avoirs des ETF tandis que la capitalisation boursière diminuait avec le prix, la détention des ETF a en réalité augmenté - de ~1,03 % à ~1,38 % de la capitalisation boursière totale de XRP. Cela représente une hausse d’environ 34 % de la pénétration. La demande structurelle, « collante » n’a pas faibli cette année ; elle s’est renforcée. Les fonds se sont accumulés en période de faiblesse pendant que le graphique des prix racontait une histoire baissière.

Le drapeau de prudence : l’élan (momentum) ralentit clairement. Après le pic de mai, les entrées se sont estompées pour ne plus atteindre que +4,3 M$ en juillet (jusqu’au 18), et l’ensemble du secteur reste encore petit - moins de 1 Md$ d’AUM et bien en dessous de 2 % du réseau.

Ne lisez pas une AUM plate d’ETF XRP comme une demande plate. Les achats nets sont restés constants, et les ETF détiennent désormais une part plus importante de XRP qu’en janvier - c’est simplement le prix qui a masqué cela. La question pour le S2 (H2) : le ralentissement de juillet est-il une pause saine, ou le sommet du cycle des flux ? #BTC Price Analysis# #Altcoin Season#

A $1,000 move in one minute isn't normal price action.

It's usually a sign that someone got caught on the wrong side of leverage.

Whether it was long liquidations, a large market sell order, or an algorithm reacting to fresh liquidity, moves like this rarely happen without someone paying the price.

What's interesting is that these sharp candles often have less to do with fundamentals and more to do with positioning.

When leverage builds up on one side of the market, it only takes a relatively small catalyst to trigger a cascade of liquidations. As forced selling begins, it pushes price lower, which triggers even more liquidations—a domino effect.

The first question I ask isn't "Why did Bitcoin dump?"
It's "Who got liquidated?"

If this move wipes out overleveraged longs while spot demand remains intact, the market can recover surprisingly quickly. But if the drop is backed by heavy spot selling and deteriorating macro sentiment, it may be the beginning of a larger move.

The candle tells you what happened.
The liquidation data tells you why it accelerated.
$BTC #Bitcoin Price Prediction: What is Bitcoins next move?#

Robinhood launched its own blockchain on July 1, 2026. Within days it processed $3.1 billion in DEX volume, ranked among the top five chains, drew nearly 800,000 lifetime active addresses, and cleared $838 million in DEX volume in a single 24-hour period.

That context matters for reading what just happened: Robinhood Chain is now connected to Ston.fi's cross-chain network.

TON users can now swap USDT on TON directly to USDG on Robinhood Chain through Omniston's atomic execution model. The full supported network list now covers TON, Robinhood Chain, Ethereum, BNB Chain, Base, Avalanche, Arbitrum, and Polygon. Eight chains. One interface. No bridge management.

What I find most significant about this specific addition is what Robinhood Chain represents structurally. Robinhood built its L2 explicitly for tokenized real-world assets — stocks, stablecoins, DeFi yield products — accessible to its 28 million users in more than 120 countries. The chain's early traction has been dominated by memecoins and speculative activity, but the infrastructure it was built for is tokenized financial assets. That's the same category xStocks on STONfi occupies on TON.

Two ecosystems both building toward on-chain access to real-world financial instruments are now connected through the same execution layer. TON users get a direct entry point into Robinhood Chain's growing ecosystem. Robinhood Chain users get a path to TON's DeFi layer.

The $1,000 per transaction limit at this initial stage applies as with every new chain addition. Execution quality validation before volume ceiling expansion.
The more networks connect, the less users need to think about networks at all.
Try cross-chain swaps → https://app.ston.fi/swap?mode=cross-chain

#BTC Price Analysis# $BTC $SOL #Altcoin Season#

Binance still commands nearly half of all tracked exchange volume, but the more interesting story is that the entire market it's dominating is shrinking underneath it.

Year to date, Binance has done roughly $10.5 trillion in total volume, running at less than half the pace of the $17 trillion it did in just the back half of 2025. June came in at $1.56 trillion, and July is tracking even softer at roughly $36 billion daily versus June's $52 billion daily pace. Personally, I think that's the real headline here, this isn't a temporary dip, it's a consistent, month-over-month contraction that lines up exactly with the quiet, low-volatility price tape we've been seeing across majors..

What stands out to me is the composition shift happening inside that shrinking pie. Perpetuals now make up roughly 85% of Binance's volume, with spot trading down over 65% from its August 2025 peak of around $730 billion monthly to just $240 billion now. Binance has essentially become a derivatives exchange wearing a spot exchange's reputation, its business increasingly rides on leverage and hedging demand rather than retail spot buying.

The interesting part is what this says about market conviction overall. Average open interest has drifted from around $40 billion in late 2025 down to $20-25 billion now, roughly halved. Less leverage sitting in the system typically means fewer aggressive directional bets and more cautious positioning, which fits everything else in the current data, muted 30-day momentum, stalled weekly moves, and genuine breakouts concentrated in just a handful of names.

Despite all that contraction, Binance's dominance itself isn't really in question. At 49.2% share, it's still bigger than OKX and Bybit combined. What's changed isn't its position at the top, it's what kind of activity is actually sustaining that position, and right now that's leveraged derivatives trading in a market with meaningfully less conviction than a year ago.
$BNB #BTC Price Analysis#

Bitcoin's only up 2.8% over 30 days while ETH and $SOL are running closer to 9.5%, and honestly that gap tells you more about this market than any single day's chart. The majors picture is muted, not dead. ETH and SOL leading on a 30-day basis makes sense given how oversold both got earlier this cycle, but 7-day momentum has genuinely stalled, SOL, ARB, OP, and ADA are all flat to negative on the week. OP is the clear laggard, down 13% over 30 days. Personally, I think this confirms the bigger caps are drifting higher slowly rather than trending with any real conviction right now. Where the actual fireworks are happening is in a handful of smaller names, and the distinction between them matters a lot. BANK from Lorenzo Protocol is the standout, up 120% and printing a fresh all-time high today. But what stands out to me is the volume, $369 million against a $108 million market cap, that's 3.4x the market cap trading in 24 hours, which is the textbook signature of a low-float squeeze rather than organic demand. Worth treating that one with real caution even though the chart looks incredible. The more durable-looking momentum is sitting in names like ADI, pressing recent highs while only 10.5% off its late-June peak, alongside DeXe and Talus doing similar things quietly. That's a different quality of move than a name ripping off a multi-year low. The interesting part is separating that from the other bucket entirely, TRAC up 34%, BUILDon up 20%, Pump.fun up 20%, Velvet up 19%. All of these are sitting 70 to 90% below their all-time highs. These aren't breakouts, they're oversold bounces, and there's a meaningful difference between a token making a new high and a token bouncing off the floor after getting destroyed. The honest read here, real bullish momentum right now is narrow and concentrated in a small handful of genuine breakouts, while most of what looks exciting on a 24-hour screen is just deeply beaten-down names finally getting a relief pump.

The CLARITY Act just got another push from Lummis, and the details matter more than the headline, this bill decides who regulates what in crypto for years to come. At its core, CLARITY would split oversight between the SEC and CFTC, giving the CFTC clearer authority over crypto spot markets while the SEC keeps jurisdiction over assets meeting securities tests. Personally, I think the most underrated part of this bill is what it does for $ETH , $XRP , and SOL specifically, all three are expected to get treated as digital commodities under CFTC oversight, which would remove years of ambiguity that's shaped how these assets trade and get listed in the US. What stands out to me is how this bill sits at a genuinely awkward intersection right now. It's not a crypto-versus-no-crypto fight anymore, it's banks worried about deposit flight from stablecoin yield provisions, and Democrats flagging Trump's documented crypto earnings as a conflict-of-interest risk given his administration is simultaneously pushing this legislation. That's a messier political dynamic than most market-structure bills face. The interesting part is the disconnect between political momentum and actual odds. Despite renewed advocacy from Anchorage Digital and the administration itself, prediction markets have priced CLARITY becoming law in 2026 down into the mid-30 to high-30 percent range. A recorded Senate floor vote before the August recess is seen as more likely than the bill actually passing this year. This isn't really a price-target story, it's regulatory plumbing. If it passes, it becomes meaningfully easier to build and list compliant DeFi, stablecoin, and altcoin products in the US. Until a vote gets scheduled and the ethics and stablecoin yield disputes get resolved, that uncertainty stays exactly where it's been. Worth watching whether Senate leaders actually move before recess. That's the next real signal, not the headline advocacy. #BTC Price Analysis# #Macro Insights#

Il reste 507 000 ETH à acquérir et Bitmine atteint leur objectif de 5 % : c’est vraiment proche, compte tenu du fait qu’ils se trouvent déjà près de 6 millions d’ETH au bilan, d’après ce qui a été documenté plus tôt cette année. Ce qui ressort pour moi ici, c’est le rythme auquel cela s’est produit. L’objectif déclaré de Bitmine était toujours ambitieux : contrôler 5 % de l’offre totale en circulation d’Ethereum n’est pas une cible modeste pour une seule entité, un trésor d’entreprise ou autre. Arriver aussi près, avec seulement 507 000 ETH restants, aux prix actuels d’environ 1 858 $ signifie qu’il leur faudrait encore environ 940 millions de dollars pour finaliser l’acquisition aux niveaux d’aujourd’hui. Personnellement, je pense que le calendrier rend cette situation intéressante plutôt que le simple chiffre en lui-même. Cette accumulation s’est poursuivie pendant l’une des pires baisses d’ETH depuis des années : jusqu’à -65 % par rapport à son plus haut historique, lors des creux de juin. Bitmine n’a pas interrompu la stratégie lorsque le prix s’est effondré : ils ont continué à acheter tout au long de la tendance baissière structurelle qui a frappé $ETH plus durement que $BTC ce cycle. Le problème de compression du mNAV signalé dans cette analyse DAT plus tôt devient d’autant plus pertinent à mesure qu’ils se rapprochent de cet objectif. Si l’action de Bitmine continue de se négocier près de sa valeur liquidative nette, voire en dessous, financer cette dernière ligne droite par émission d’actions devient plus difficile : ils auraient alors besoin du retour d’une prime, s’appuyer davantage sur le scénario des actions privilégiées qu’ils ont déjà commencé avec la levée de 280 millions de dollars, ou ralentir le rythme et laisser l’appréciation organique de l’ETH combler le reste de l’écart à la place. Ce que cela implique aussi, structurellement, mérite d’être examiné. Une fois qu’une seule entité contrôle 5 % de l’offre en circulation, c’est un événement de concentration significatif pour Ethereum en particulier, dans un esprit comparable à ce que Strategy représente pour Bitcoin, mais à une échelle relative à l’offre totale d’ETH qui est probablement plus marquante compte tenu de l’historique de distribution différent d’Ethereum. #BTC Price Analysis# #Altcoin Season# #Meme Alpha#

TradingView compte environ 90 millions d’utilisateurs. C’est la plateforme de graphiques la plus largement utilisée dans le secteur des cryptoactifs et de la finance traditionnelle réunis. La plupart de ces utilisateurs n’ont jamais consulté un graphique de TON DEX, car les données de marché de TON DEX n’étaient pas disponibles dans l’outil qu’ils utilisent déjà pour tout le reste. C’est désormais chose faite avec la mise en ligne des données de STONfi et DeDust sur TradingView. L’implication concrète se fait dans les deux sens, et les deux ont leur importance. Les utilisateurs de STONfi disposaient déjà de graphiques TradingView intégrés dans l’interface d’échange : nous en avons parlé plus tôt cette année. Cette intégration apporte l’inverse : les utilisateurs de TradingView, qui n’ont jamais visité STONfi, peuvent désormais trouver des paires de jetons TON directement dans leur environnement de visualisation existant, analyser l’évolution des prix grâce à l’ensemble des outils techniques de TradingView et découvrir des marchés DeFi TON sans avoir besoin de savoir que STONfi existe comme point de départ. La découverte via TradingView relève d’une catégorie d’utilisateurs différente de celle de la découverte via Telegram ou les médias crypto. Les utilisateurs de TradingView sont principalement des traders actifs, qui cherchent déjà des données de marché et savent déjà comment agir en s’appuyant sur celles-ci. L’apparition des paires de jetons TON dans leur flux de travail existant supprime la friction liée à l’apprentissage d’une nouvelle interface avant de pouvoir analyser ce qu’ils voient. L’avantage de diffusion de TON via Telegram touche des personnes déjà présentes au sein de l’écosystème. L’intégration TradingView, elle, atteint des personnes qui cherchent activement des opportunités de trading et ont désormais une raison de s’intéresser à TON. Explorez STONfi → https://app.ston.fi/swap #BTC Price Analysis# $BTC #Macro Insights# $SOL

$ETH La hausse jusqu'à $1 858,53 avec une cassure nette lors des dernières heures de la séance est un joli mouvement intraday, mais honnêtement, ce qui attire le plus mon attention, c'est le volume qui l’accompagne. Le volume sur 24 heures s’établit à 4,67 milliards de dollars, en baisse de 58,18 % par rapport à la période précédente, ce qui raconte une histoire intéressante en parallèle à cette action sur les prix. Le cours est monté avec un volume nettement plus faible que la veille, ce qui, personnellement, me rend un peu prudent quant au niveau de conviction qui se cache réellement derrière ce mouvement. Les cassures solides sur fond de volume en baisse peuvent encore fonctionner, mais elles sont généralement moins fiables que les mouvements confirmés par une participation en hausse. Le graphique montre d’ailleurs une séance assez hachée et confinée dans une fourchette pendant la majeure partie de la journée, oscillant grosso modo entre 1 835 et 1 845 dollars, avant une forte impulsion haussière dans les dernières heures qui a porté le prix au niveau actuel de 1 858,53. Ce type d’accélération tardive après une progression à plat coïncide souvent avec un catalyseur précis ou une liquidité plus fine, permettant à une quantité d’achats plus réduite de faire monter le prix plus que d’habitude. Ce qui ressort sur le plan structurel, c’est le ratio Vol/Mkt Cap qui se situe à seulement 2,08 %. Pour donner un ordre de grandeur, c’est un taux de rotation relativement faible, ce qui signifie que l’activité de trading par rapport à la capitalisation totale d’ETH est plutôt contenue pour l’instant, comparé à des périodes plus volatiles de ce cycle. L’offre en circulation correspondant exactement à l’offre totale, à 120,68 M d’ETH, sans plafond d’offre maximum, rappelle que la conception structurelle d’Ethereum—et notamment l’émission et la dynamique de burn—interagit en continu plutôt que de tendre vers un plafond fixe. Ce rebond s’inscrit dans le thème plus large en cours : ETH se redresse après s’être fortement retrouvé en conditions de survente au lendemain des plus bas de juin, proches de 1 565 dollars. Le fait que cette impulsion haussière ait ou non une vraie continuité, ou qu’elle retombe dans la zone des 1 840, dépendra probablement du fait que le volume remonte demain, plutôt que de continuer à décroître. #BTC Price Analysis# #Altcoin Season# $ETH

Polymarket perps hitting a "new all-time high" in open interest sounds more significant than what's actually behind the number, and honestly the fine print here matters more than the headline. $24.37 million in OI on July 17 is technically the highest reading in the dataset. But the asterisk is important, this data series only starts July 14, meaning "all-time high" really just means highest across four days of tracking. Polymarket's perps actually launched back on May 29, and the API simply doesn't expose historical OI data before mid-July. Given how much heavier volume was during the initial launch frenzy, OI was quite possibly higher back then, we just have no way to see it. What I think is the more interesting story here is buried in the volume-to-OI relationship rather than the headline stat itself. Daily perp volume has ranged from around $31 million up to $629 million on launch day alone, with $159 million on July 17 specifically. Having only $24 million of standing open interest supporting $159 million in daily volume gives you an OI to volume ratio well under 0.2, and personally I think that's the real signal worth paying attention to. That ratio points toward very short-hold, high-churn speculative trading rather than positions that actually sit and build conviction over time. The interesting part going forward is watching whether that OI figure starts climbing meaningfully relative to volume, which would suggest positioning is becoming stickier, or whether it stays persistently low, confirming this is mostly rapid in-and-out speculation rather than durable interest building on the platform. So the claim is technically accurate, but it's a thin one resting on a metric that's only just become trackable. The more meaningful read is that Polymarket perps are clearly a live, high-turnover product already doing real volume, the open interest question is simply too new to draw strong conclusions from yet. #BTC Price Analysis# #Macro Insights# $BTC

Devrait-on dire que PI est « MORT ».
Ce graphique mensuel sur Pi est honnêtement l’un des plus brutaux que j’aie vus : -97,5 % par rapport à ce pic de 2,99 $… avec pratiquement aucune structure suggérant un plancher, n’importe où.

« Mort » est en fait le mauvais mot ici, et je pense que cette nuance compte plus que ce qu’on pourrait croire. En tant que graphique, oui, il est fonctionnellement mort : plus hauts en baisse, plus bas en baisse, zéro preuve d’accumulation qui s’installe quelque part. Il n’y a pas de base en train d’être construite : c’est juste un grind implacable dans une seule direction. En tant que configuration de trading pour attraper un retournement, il n’y a vraiment ici aucun signal qui mérite d’agir.

Mais en tant qu’actif réel, PI porte toujours environ 824 M$ de capitalisation boursière et tourne à environ 215 M$ par jour. Ce n’est pas un token fantôme : des pièces vraiment mortes tombent sous 1 M$ de volume quotidien et disparaissent presque totalement des classements. Pi a encore de la liquidité et de vrais détenteurs ; c’est simplement en train de saigner, d’une manière extrêmement structurelle.

À mon avis, la vraie réponse à pourquoi cela continue à se produire se trouve dans la tokenomics. L’offre en circulation est d’environ 10,9B contre une offre totale de 16,8B, ce qui signifie qu’environ un tiers de tous les tokens n’ont même pas encore touché le marché. Cet excès d’offre en attente est précisément ce qui produit ce genre de graphique : une nouvelle offre qui dépasse constamment la demande qui se présente. Donc au lieu d’une chute nette puis d’un rebond, vous obtenez ce saignement lent et progressif.

Personnellement, je le formulerais plutôt comme « fortement distribué et surapprovisionné, sans demande et sans catalyseur » plutôt que « mort ». Et honnêtement, c’est peut-être pire à garder que quelque chose de vraiment mort : une pièce morte n’a plus rien à perdre. PI a encore 824 M$ de capitalisation boursière, et cela peut continuer à s’évaporer pendant que cet excès d’offre continue de jouer contre lui. #BTC Price Analysis# #Macro Insights# #Altcoin Season#