Recent changes in the crypto market are indeed worth paying attention to. From the market sentiment perspective, the fear index has risen back to 28, officially leaving the extreme fear zone. For those familiar with this system, this shift is quite significant—when the index drops below 25, the market is in extreme fear, which is usually also the main bottom; a level of 28 indicates that investor sentiment is gradually easing, and funds are starting to be willing to enter the market. Such signals often suggest that the market may be beginning to rebound from the lows.

Looking at the ecosystem level, it becomes even more interesting. According to the latest data, a leading public chain's annual performance is quite impressive: the total number of unique addresses has surpassed 700 million, and the daily transaction volume reaches 10.78 million transactions. What do these numbers indicate? 700 million unique addresses suggest a sufficiently large user base, with high activity within the ecosystem; over 10 million transactions per day directly reflect strong transaction demand. The long-term positive outlook of the crypto ecosystem fundamentally depends on the growth of user scale and the prosperity of trading activity—this is the foundation for whether the market can achieve real growth.

Currently, multiple signals are appearing simultaneously—market sentiment warming, on-chain data active, ecosystem scale expanding—giving the market a relatively positive outlook. Of course, the inherent volatility of the crypto market is high, and no single signal is enough to determine the direction; comprehensive analysis is necessary. However, based on these indicators, at least it shows that the market is entering a healthier state.