Seeing some liquidity consolidation in early January—typical setup for a short-term bounce. But honestly? The bigger picture is harder to ignore. Look at the transaction volume and fee activity on-chain lately. It's honestly pretty sparse. The whole network feels quiet compared to what we saw during healthier market cycles.

So yeah, might catch a quick pump in the near term. But macro-wise? The signals aren't exactly screaming bullish. Transaction data and fee trends really do paint a cautionary picture for anyone thinking longer term. Ghost town vibes, not the kind of organic activity you want to see during a genuine bull run.