F Network or the pH token is the cryptocurrency of the day it's going up way more than others the question is why who is buying here who's selling here is this really fundamentally driven or is this a pump and dump let's have a look at the onchain metrics most people are not considering so this is what we are looking at F network is crushing it in the last month we went up by more than 3x and pretty much all of those gains had been made in the last week alone but that didn't happen without drama
at one point F network was more than double the price to then afterwards crash down to less than 10 cents now there's another rally but this price chart is actually deceiving because this chart would imply that there's another 2x maybe 2 and A2 X from here to go back to Prior Heights but that's not the case have a look at the market cap chart the market cap chart is already at an all-time high in other words there's now more capital in F Network than has ever been the difference between the price chart and the market
cap chart can be explained with an expanding Supply there's now way more PHA tokens around than there used to be now the more floating tokens there are the more capital is required in order to push up a price but let's have a look at the data most people just look at websites and they try to get a market Edge by reading whatever the team is putting out this is I believe not the right way to go about this this is information everybody has we want to look at the information most people are not considering now
on Twitter or the xplatform we've got more than 130,000 followers on telegram we've got 11,000 members and the GitHub repository so the place where the tech developers are submitting their changes that's still active there has been an update 14 hours ago another update 2 days ago another update 3 days ago so there's clearly still something happening this is not just a Deb project the token is available on Two Chains most of the capital is on the ethereum where we've got 23,000 holders now not all of those holders are created equal right some wallets might just
hold a few cents of the token others might hold hundreds of thousands of dollars of the token so let's look into this in more detail in the last 24 hours where the price went up by 75% we actually saw less buyers than sellers so this tells us that the buyers tend to move more Capital than the sellers do or in other words the big guys are getting in now not all of the price Discovery happens on chain though right there is a lot of trading volume in Black boxes in the centralized exchanges most trading volume
happens on gate iio and okx but the token can also be bought on qoin for example on top of that we've also got the derivative market so bets on the price Perpetual Futures that's dominated by bybit and Maxi now here are the onchain metrics the number of retail investors versus whale investors over time so again in total we've got 23,000 holders but there's less than 3,000 holders that have more than 2,000 tokens now 2,000 tokens at the current price is roughly $1,000 worth of the token well the chart in the middle we go a 10x
in minimum Holdings so that's now $10,000 worth of the token on the right another 10x so $100,000 worth of the token we see initial adoption then a massive sell off by retail and then a recovery we see a similar pattern for the medium-sized retail wallets but the recovery was Stronger we see even an all-time high for the whale wallets so relatively speaking the way wallets bought in the most recently we can also see how attention goes in waves so this now the number of buyers and sellers over time currently we are rather on the higher
end and the ratio of buyers versus sellers long-term doesn't really change much now the mcro picture very much looks like we are at a pivotal moment it seems like we are very close to an altcoin rotation because the risk to reward for Bitcoin at this moment is not that great have a look at this long-term Bitcoin chart and check out those two red lines at those points of time the upside potential for Bitcoin wasn't that great anymore relative to the downside so this is a very long-term chart right we did not yet hit the top
but we are relatively close to the top now those lines are not scientific whatsoever right they're simply just curved lines drawn on the Bitcoin chart but they tend to connect the tops relatively well and they tend to connect the bottoms relatively well currently we are very close to such a high risk poor reward situation for Bitcoin one more time now again have a look at those two red lines those points in time correspond with those red lines over here this is the Bitcoin dominance the Bitcoin dominance crashed when the risk to reward for Bitcoin wasn't
that great anymore what does a Bitcoin dominance crash mean it means that Bitcoin as a fraction of all of crypto is going down in other words it's altcoin season the altcoins outperform Bitcoin at that point in time now historically that rotation happened when Bitcoin dominance was at around 70% this time it seems to happen a bit earlier but it looks like we have already started the rotation again because the risk to reward is not that great at the moment for Bitcoin people want to get the multiple X returns and they're not anymore that easy to
be made with Bitcoin and so what asset class performed the best in the last 7 days it is the risk on categories it things like frog themed tokens or AI memes and so the largest of the AI meme tokens are things like fcoin which is currently at 44 cents which had been covered on this channel when it was still at 5 cents or it's things like Goos Maximus which is currently at 56 cents and it was at above $130 at one point which was covered on this channel when we at still at 25 oh here
another AI meme AI 16z currently at 67 cents and we talked about this here at 28 cents now how did I discover tokens like this that early when they still make multi X Returns the answer lies in onchain analytics and in wallet tracking I like to track wallets of other insiders of influencers of top Traders and so have a look at the recent trade I published this in the gead trade channel on December 10th how I'm buying some Alchemist Ai and since then the price appreciated by more than 40% and it is the best performing
token on Solana in the last 24 hours this is not random this is not luck this is all happening because of wallet tracking because we get transactions whenever influencers and top Traders are buying here we look at this recent trade by crypto gains he bought Mor Ai and this is the chart this is a channel of crypto gains he's got 140,000 subscribers and he talks about small cap cryptocurrencies regularly and we are tracking 55 of his wallets I have a look at Crypt benter they've got 1.1 million subscribers when they talk about a token especially
a small cap cryptocurrency of of course this generates a lot of attention attention turns into purchases purchases turn into Rising prices and so we are tracking 33 of cryp ventor wallets or check out Alex Becker 1.5 million subscribers through onchain analytics we found 12 of his wallets those are not official wallets right those are wallets that we find through various means now what kind of means it's explained over here in this tutorial course it's eight videos in total it's explaining how to find influencer wallets how to track influencer wallets wets and how to then interpret
the signals that we get from the tracking it's all part of the premium membership of this channel premium is not just about wallet tracking it's also about onchain analytics it's also about back testing it's also about risk mitigation and portfolio diversification there's more than 100 tutorial videos in total in premium and so if you want to stop just chasing the trends if you want to be early then feel free to check it out it's currently $165 us per month there's also a onee money back guarantee so in case you don't like premium in case you
don't learn anything just message me within the first 7 days and I'll refund you 100% there's really zero risk for you now does it make sense to buy F Network now after this rally does it still make sense to buy relatively elevated prices let's have a look here is what happened in the last month the price 3x and we are at 47 cents and we can see that especially in the last few days the number of new users shot up a lot so before on every single day we only had like 20 or 30 new
wallets that interacted with the token in the last few days that's rather around 200 maybe even 400 but here is what I do not like again we've got the retail investors and the whale investors over here but this time the charts only look at the last month so before we looked at alltime charts right yes and years of data this year just looks at the last month and we don't see how the number of retail investors grew during that time we rather see how in the last few days the number of retail investors went down
that's even more pronounced for medium-sized retail and it's also existing for the Wales so how is it possible that a price goes up by 3x when the number of investors is not growing how can the market cap be at all-time highs when there's no new excitement by anybody on chain I believe there is some manipulation going on I believe those black boxes are toying around with the price and whenever they manipulate the price and the market cap after a while it tends to Trend down again I am not saying that we have to turn around
Direct directly we could see further manipulation but I think the likelihood of PHA being lower in 3 4 5 months compared to today is very very high I think the cycle will simply repeat we see our pumps and our dumps and a lot of that volatility creates trading volume that creates money for the centralized exchanges that creates also liquidation fees a lot of nice incomes but not necessarily a great asset to own if you got some value on this video feel free to subscribe I publish you second a like would be very much appreciate as
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