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🔸 What is Wash Trading and how does it work. Part 1. Wash Trading is a scheme in which a trader artificially creates trading volume by buying and selling the same asset. from himself. But how is this possible? Check our longread:. 🔹 What does the scheme look like. ➡ A

(8/8) 🔹 Exchange Activity. BTC spot volume up across major venues: Binance +45%, Coinbase +18%, Bybit +12%. ETH spot volume also rose: MEXC +52%, Binance +23%, OKX +14%. — Volume increase led by major exchanges.

(7/8) 🔹 Market Breadth. Advancers: 733 assets | Decliners: 567. Volume rose to $278B. Top gainers: GOFX +100%, JUP +62%. Top losers: CTF -64%, BFC -50%. — Slight positive tilt in market breadth.

(6/8) 🔹 Derivatives. Open interest: BTC +4.6%, ETH +2.8%. Futures volume: BTC +14.6%, ETH +6.4%. Funding rates remain negative, options skew softens. — Traders showing cautious re-entry.

(5/8) 🔹 DeFi & Tokenization. DeFi market cap rebounded. Smart contract platforms +8.8%, Specialized tokens +5.1%. TVL at $57.8B (+13%). — TVL growth indicates strengthening DeFi activity.

(4/8) 🔹 Stablecoins. Total supply up 0.4% to $223.3B. Tether premium slightly positive. Transaction count and transfer values stable. — Stablecoin supply grows modestly, activity stabilizes.

(3/8) 🔹 Network Activity. Active addresses: BTC +4.02%, ETH +7.49%. Transaction count: BTC +5.26%, ETH +18.61%. Transfer value and velocity mostly flat. — Network usage shows signs of recovery after slowdown.

(2/8) 🔹 Capital Flows. Market cap changes: BTC +1.8%, ETH +6.13%, SOL +7.21%, ADA +6.71%. Free float market cap and realized cap both rising. MVRV: BTC 1.04, ETH 1.12. — Continued capital inflows across major assets.

(1/8) 🔹 Macro & Price Action. BTC closed at $109,543 (+1.8%). ETH at $2,586 (+6.13%). SOL at $152.55 (+7.21%). CMBI 10 Index rose +2.92%. — Modest gains led by altcoins amid steady macro backdrop.

🔸 On-Chain Pulse — Key Crypto Insights (June 28 – July 4)

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(5/5) 🔹 Takeaway. Your token’s price = weighted result of its most liquid trading pairs. Support them, concentrate volume, and let the market do the rest. That’s how serious projects manage their token economy.

(4/5) 🔹 What some projects get wrong. They list many pairs, hoping to boost exposure. But if liquidity is fragmented, price discovery breaks. Better: concentrate liquidity in one or two core pairs and build from there.

(3/5) 🔹 Price discovery depends on liquidity. The more volume in a pair:. • the better the price reflects real market demand. • the harder it is to manipulate. A low-liquidity pair = unstable price = bad signal for investors.

(2/5) 🔹 Why does pair structure matter?. Tokens can have multiple pairs: ABC/USDT, ABC/ETH, ABC/SOL, etc. But the most active one becomes the "main" pair — this price is what CoinGecko, CMC and others usually report.

(1/5) 🔹 What is a trading pair?. Every trade needs a pair — two assets being exchanged. Example: $ABC/USDT means you're trading ABC against Tether. The most liquid pair usually sets the dominant market price.

🔸 How trading pairs shape your token’s price?. Here's what's really happening ⬇

(7/7) 🔹 Summary:. - Fewer transactions, more size.- Fees near zero.- Off-chain dominates.- Leverage near peak. On-chain calm ≠ risk is gone. The structure is stretched — watch for reflexive moves.

(6/7) 🔹 But margin quality improves. Post-FTX, stablecoin-margined open interest now dominates. 2021: 100x crypto-margined chaos. 2025: More USD-pegged risk management. Market matures — but doesn’t mean it’s safe.