We see a similar pattern to MVRV, with a relatively shallow SOPR drawdown compared to 2021-22, and a swing back into positive territory this week. This suggests that investors did not express the same degree of panic and fear as they did in the 2022 bear market proper, another sign of investor resilience.

What is #SOPR ?

The #SOPR (Spent Output Profit Ratio) a very simple indicator, which reflects the degree of realized profit and loss for all coins moved on-chain. It’s calculated from spent outputs, the realized value (#USD) divided by the value at creation (#USD) of the output. Or simply: price sold / price paid.

#SOPR values greater than 1 implies that the coins moved that day are, on average, selling at a profit (price sold is greater than the price paid).

#SOPR value less than 1 implies that the coins moved that day are, on average, selling at a loss (price sold is less than the price paid).

#SOPR value of exactly 1 implies that the coins moved that day are, on average, selling coins at break even.

Successive peaks of high SOPR (creating an indicator uptrend) suggest continual distribution, usually during a bullish price rallies. As more coins are spent back into liquid circulation, the probability of a local or macro market top increases.

Here's the Analysis of #HOOK :

#HOOK is been rejected from the strong resistance zone of $1.02 - $1.04 and also break below the support too. Price making the small falling wedge pattern and price looking bearish too. Potential sells on retest of $0.915 - $0.035 with low risk.

#BITCOIN DAILY TF UPDATE :

#BITCOIN broke above the resistance zone and kinda gave a close below it, Price also going through a lot of compression, which likely to look as distribution. In the broader view, price maintaining the bullish structure, so have an eye on this range range.

#BTC.D goes the same as predicted and nearly reached the support level. #BTC continues to consolidate and altcoins got a push up. Well, there;s little more room for alts to go. Let's see what gonna happen, if this zone breaks and #BTC sustains then we can expect much more moves in alts.

"As the market approaches year-to-date highs, a notable portion of the previously 'in-loss' supply has rebounded into a 'profitable' state. The percentage of supply in profit has surged by a substantial 4.7 million BTC, equivalent to 24% of the total circulating supply. This data sheds light on the significant volume of coins that have changed ownership, falling within the cost range of $27,000 to $35,000.

With 81% of the supply now sitting in a profitable position, the market has shifted into a positive phase, surpassing the long-term average for this particular metric, indicated by the green line."

Here's the Analysis of #SUSHI :

#SUSHI is been rejected multiple times from the major resistance area of $1.254 - $1.28. This rejection shows strong selling pressure, which tends to make a small range. A break below of the $1.01 will be the best opportunity for sells.

#BITCOIN WEEKLY UPDATE :

#BITCOIN in Weekly TF, gave an another small to the upside, after that strong impulsive move. Well, looking into Daily TF, Market Structure still intact bullish at this point. This also indicates exhaustion in the market, so with the Monday Market Open, we can expect the new direction in price either in the form of correction or next upmove.

#HOOK broke out of the small falling wedge pattern and moved up after retest of it. Price also flipped above the resistance zone and might rejected from the Resistance zone of $1.02 - $1.04. In case price retest back to the support, you can take short-term buys till Resistance.

we can see is that after hitting the most negative value since January (when prices were ~$16k), investor confidence has recovered to neutral, meaning STHs who are spending have a similar cost basis to those who are HODLing. We are also on the verge of a positive cross-over of these cost basis models.

What Is Cross-Border Trading?

Cross-border trading within financial markets and trade finance is the practice of engaging in global trade across international markets using the local currency and often in collaboration with local counterparts. In the context of global markets, cross-border trading presents various advantages for investors looking to seize distinctive trading opportunities, such as capitalizing on pricing variations and arbitrage prospects.

In the early days of cryptocurrency trading, individuals in different countries were unable to participate in markets located in other nations. For example, if you held an account with a U.S.-based cryptocurrency exchange, your trading options were confined to BTC/USD. Nevertheless, the advent of cross-border trading platforms has revolutionized this landscape, enabling easy access to markets in other countries and tapping into the liquidity of local currencies, such as BTC/JPY, BTC/EUR, and more.

Cross-border trading empowers traders to access prominent spot trading pairs available across licensed countries. Assuming your exchange adheres to international regulatory standards and complies with the local Know Your Customer (KYC) and anti-money laundering regulations of each country, you can readily engage in international markets using the local currency, transacting with foreign counterparts, all through a single local trading account. This eliminates the need for multiple registration processes or involvement with numerous exchanges, thus averting unnecessary complications, delays, and the risk of application denial due to non-residency in the local jurisdiction.

How Does Cross-Border Trading Work?

Cross-border trading involves a straightforward process in which a cryptocurrency exchange provider secures licenses to operate in multiple countries, while also adhering to the financial regulations of each respective nation.

Cross-border trading establishes a genuinely global cryptocurrency trading platform, allowing registered users from various countries to benefit from the scalability, depth, and liquidity of a unified marketplace. Traders can register on the exchange and gain access to liquidity pools and spot trading pairs across all the licensed countries.

Through cross-border trading, you can place your fiat currency in global trading markets, benefiting from the minimal spread between buy and sell prices of cryptocurrencies while remaining subject to your native country's privacy policies and financial regulations.

Why Engage In Cross-Border Trading?

Apart from the ability to access global markets, cross-border trading presents a range of distinct advantages, including:

1. Abundant Liquidity: Liquidity holds immense importance in the realm of trading. In the cryptocurrency domain, it signifies how easily you can convert your cryptocurrency into cash or exchange it for another digital asset. Cross-border trading offers access to a broader market, granting the ability to assess and analyze multiple pairs in your local currency, thereby offering more avenues to optimize returns.

2. Price Disparities and Arbitrage: Digital asset prices vary from one exchange to another, especially when multiple currencies are involved. To capitalize on these differences, one might typically need to open accounts on multiple exchanges. However, centralized exchanges that offer cross-border trading provide access to multiple markets from a single dashboard, opening up the possibility of implementing arbitrage strategies from a single account. An example of this is the well-known 'Kimchi premium.'

3. Diverse Counterparties: Cryptocurrency markets are widespread across the globe, with Asia, in particular, contributing significantly to retail trading activity. Each jurisdiction exhibits distinct trading behaviors and patterns. With cross-border trading, investors can explore novel strategies for generating returns by leveraging their understanding of these diverse trading dynamics and behaviors."

Here's the Analysis of #IMX :

#IMX is been very aggressive move to the upside and kinda retracing now. Price is expected to reach out the support nearby $0.80 - $0.81 where we could buy from. Moreover, the next strong resistance zone is at $1.04 - $1.06, were a rejecting could happen, if #BTC sustains above $34,000 level.

#Bitcoin started to consolidate, after printing the yearly high. In broader TF< its more looks like a Stop Hunt over the Distribution Period. Well, have a look on breakout, which can decide the next move. Overall, a correction is expected.

#BTC.D break below support level and still moving lower after testing it as resistance. Well, altcoins trying to push and low caps are doing good. #BTC trying to break too but failed, so if you're in any alts position trail the stops as alts might perform good.

With the market approaching YTD highs, a significant proportion of the supply has now recovered from being held 'in-loss' to 'in-profit'. The percent of supply in profit jumped by a massive 4.7M BTC, equivalent to 24% of the total circulating supply. This provides insight into the volume of coins which changed hands, and have a cost basis between $27k and $35k.

With 81% of the supply now in profit, the market has now returned to positive gear, with this metric now being above the long-term average for this metric (shown in green).

What is Cross-chain Contract Calls ?

Cross-chain contract calls facilitate the unrestricted movement of information, cryptocurrencies, and NFTs across different blockchain networks through smart contracts, liberating these assets from their network boundaries.

In the realm of Web3, cross-chain contract calls serve as a crucial mechanism for achieving interoperability. They empower users to seamlessly interact with any decentralized application (dApp) regardless of the specific blockchain they are operating on. Presently, users are compelled to manually navigate between different chains and utilize cross-chain bridges, which can be intricate and time-consuming, for managing assets while engaging with dApps.

The primary objective of cross-chain contract calls is to streamline and simplify the process of transferring funds between various blockchain networks. By abstracting the complexities associated with cross-chain operations, they enhance the user experience in Web3 and create a seamless, chain-agnostic environment. This development eliminates the need for managing different native gas tokens and using bridges.

This trustless and verifiable network connects users to other chains through on-chain validators, creating a decentralized network that eliminates cumbersome barriers, allowing users to effortlessly interact with dApps.

Use cases for cross-chain contract calls encompass NFT purchases, multi-chain yield farms, and liquidity pools. For NFTs, users can leverage software development kits (SDKs) to facilitate asset movement and NFT purchases in a single, straightforward transaction, offering a one-click NFT minting experience. In the context of multi-chain yield farms and liquidity pools, cross-chain contract calls enable users to deposit liquidity into pools without the need for asset bridging between different networks.

Here's the Analysis of #NEAR :

#NEAR broke out of the triangle formation and moved above the strong level. Price nearly rejected from the Strong Resistance zone of $1.69 - $1.71 and testing the major support level of $1.52 - $1.54. Buys can be take here, with tighter stops with targets at Strong Resistance Zone.