With an MVRV of around 1.2, Ethereum’s market value is currently just above its realized value, and if it dips below 1, it could signal an accumulation phase.

MVRV readings above 2, however, suggest an overheated market, indicating a potential peak in ETH's price rally.

TON is quickly closing the gap with Ethereum, expected to surpass ETH holders by December 20.

With ETH at 137 million holders and TON at 112 million, it's gaining half a million new users daily. However, a slower growth estimate could push this milestone to February 2025, with ETH's own modest growth potentially impacting the timing.

The Nakamoto Upgrade is finally here.

Here’s everything you need to know about the impact of Nakamoto on the performance and efficiency of Stacks.

The evolution of the LRT market is clear: capital is moving from "point farms" to lending protocols.

Of $2.71 billion in LRTs now on lending markets, $2.61 billion sits on Aave alone.

With over $13 billion in total value locked (TVL), Aave dominates, holding over 55% of the top 5 lending protocols' TVL.

JustLend trails behind with $4.6 billion.

Bitcoin’s 3% gain may be modest, but the sector saw $901 million in net inflows last week alone from top asset managers.

October marked $3.36 billion in inflows, bringing year-to-date totals to a record-breaking $27 billion — solidifying crypto as an asset class as Wall Street moves further in with spot ETFs.

Time to get some market insights 🔍

General
➖ Galaxy: Ethereum All Core Developers Execution Call #199 Writeup
➖ Galaxy: Weekly Top Stories - 10/25

Market
➖ CoinGecko: Only Three PoS Blockchains Offer Yields Above 10%
➖ CoinGecko: Inflation Rate Reports (CPI) Don't Significantly Affect BTC Price
➖ Coinbase: Weekly: Ways and Means
➖ Binance: Spot ETFs in Crypto Markets

Blockchains & networks
➖ 4pillars: Interoperability Research for Optimism Superchain
➖ Galaxy: Protocol Overview: Solana 2024

Tokens & currencies
➖ CoinShares: ETH’s Value Crisis Amid Scaling and Institutional Interest

GameFi & NFTs
➖ CoinMarketCap: The Evolution of Blockchain Gaming: A Deep Dive into Seraph

Despite the meme coin buzz, this segment represents less than 3% of the crypto market cap.

Institutions control around 80% of capital, likely benefiting stores of value like BTC and capital assets.

6 unspoken guidelines for succeeding in Web3 ↓

I've turned 30 this week and recently realized I've spent 27% of my life in Web3.

Today, I want to share the key lessons from my journey that I wish I'd learned sooner.

Substack link.

Phase 1 Jito (re)staking caps now fully met across all three VRTs.

Renzo and Kyros reached their caps in less than six hours.

After previously showing a "dead cross" post-ATH, the indicator now signals a golden cross as the 30DMA meets the 365DMA.

Transaction counts are nearly double compared to the 2021 cycle, a positive sign for market activity. However, if the 30DMA does not strongly surpass the 365DMA, there's a chance the trend may resemble the mid-2021 phase.

Aave’s new Merit program, launched on October 24, boosted $cbBTC deposits by 2.7k BTC (~$200M) in a week, enabling a strategy to lend cbBTC -> borrow USDC -> lend USDC.

Recursively deposited USDC debt rose by 2%, making cbBTC the fourth-largest asset backing USDC borrowing. However, if a major USDC supplier exits, users may face temporary challenges unwinding these positions to repay loans.

TRON's share in alt-chain transactions has risen to 43%, signaling a resurgence in its popularity.

In October, TRON processed 230 million transactions, with a peak on October 24 reaching 10.46 million, 25% above the 30-day average. After a temporary dip in dominance, TRON is back as the leading alt-chain.

Your perception of the market often differs significantly from reality.

$TON has more holders than $POL.
$CELO has more holders than $DOT.
$WLD has more holders than $CAKE.
$DEGEN has more holders than $LINK.
$BAT has more holders than $UNI.

Wow.

Despite the buzz around Ethereum, many assumptions are not always well-founded.

A closer look at the data reveals that Solana generated just 41% of Ethereum’s + L2 total network fees over the past 90 days, highlighting its solid growth.