Prices of all the chains reported increased, while almost all volumes except for ADA, on the other hand, decreased. APTOS was the one with the most dramatic fall in TVL (30.97%).

Arbitrum experienced the most considerable change in TVL of 21.60%, followed by ADA with 12.25%. Meanwhile, EVMOS decreased 25.91% in TVL, which was attributable to the fall of 18.14% in volume.

EVMOS, Arbitrum, ADA were the chains with considerable TVL growth in the past week. Despite the surge in EVMOS's price, volume also increased.

Prices of most chains rose, except for OP and APTOS, leading to a rise in volume of these two.

ETH, KDA, FTM experienced a fall in volume.

APTOS experienced a TVL fall of 13.30%, mostly due to the fall in volume of 12.65%.

On the other hand, Polkadot increased by 21.97% in TVL, followed by EVMOS with 16.57%. The rise in TVL of EVMOS is attributable to a surge of 25.18% in volume.

Observation from LTC Halving

The anticipated HALVING date for LTC is August 5, 2023.

LTC peaked 7 weeks prior, according to historical data from the two previous occurrences.

Will the past be repeated this time?

This time, June 12–18 falls 7 weeks before the expected LTC HALVING date. The dates of the last bullish wave might be June 5–11.

Source: Coin Lab

On-chain metrics suggest a new bull cycle for Bitcoin

A recent report by Glassnode reinforces Bernstein's data. Glassnode highlights that the correlation is increasing between Bitcoin and Gold in this new bull cycle.

This metric - Transaction Count Momentum - compares the monthly average 🔴 transaction count against the yearly average 🔵 to underline relative shifts in dominant sentiment and help identify when the tides are turning for network activity.

As monthly 🔴 > yearly 🔵, this indicates an expansion in on-chain activity, typical of improving network fundamentals, and growing network utilization.

The increase in BTC outflow suggests that investors may have purchased when BTC fell below $30,000. This demonstrates that there may be a rising demand for BTC.

Bitcoin (BTC) climbed over $28,000 as investors seemed to respond to mildly encouraging first-quarter earnings from tech giants Google's parent Alphabet and Microsoft and the liquidation of a number of bitcoin short positions.

Souce: CoinDesk

The 7-day average of daily Bitcoin transactions was at its highest this week since December 2017. The increasing number of daily transactions suggests growing active usage of the Bitcoin blockchain.

Source: IntoTheBlock

Bitcoin could hit $100,000 by end-2024, Standard Chartered says

The leading cryptocurrency bitcoin could reach a price of $100,000 by the end of 2024, Standard Chartered said, noting that the so-called "crypto-winter" is over.

Bitcoin could benefit from factors such as the recent turmoil in the banking sector, the stabilization of risky assets as the U.S. Federal Reserve completes its rate hike cycle, and increased profitability of crypto-mining, said Jeff Kendrick, head of digital asset research at Standard Chartered.

Bitcoin has already shown a rally this year, rising above $30,000 in April for the first time in ten months.

© Reuters

Bitcoin About to Pop – Where Next for the Bitcoin Price?

While Bitcoin remains well within recent ranges, the cryptocurrency could be about to pop higher again towards $31,000.

That because, if the cryptocurrency maintains its current short-term momentum, it could be about to break to the north of a pennant pattern it has formed over the last few weeks.

Source: Crypto News

Bitcoin continues to trade inside the symmetrical triangle pattern, indicating indecision among the bulls and the bears. Usually, the trend that was in force before the formation of the triangle tends to resume. That means the price is likely to break out to the upside.

If the price closes above the triangle, the BTC/USDT pair could rally to $32,400. The bears are expected to mount a strong defense at this level because if the bulls drive the price above $32,400, the rally could reach $40,000.

Let's Count Down To The Finallll