# Onchain Activity is Heating Up

_Early signals from the consumer retail/social trading sector_

September 9, 2026 • Michael Nadeau

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# Onchain Activity is Heating Up

## Early signals from the consumer retail/social trading sector

Michael Nadeau
 September 09, 2026

 Hello readers,

 Last Sunday, BTC notched its first weekly close at the 50-week moving average since last November. It’s an important step toward confirming the “early bull” phase of the next crypto cycle. But with BTC now trading back below that level, the “all clear” remains incomplete.

 As BTC decides which direction it wants to go, we’re seeing a notable *uptick* in onchain activity across some of crypto’s most speculative markets, particularly in the emerging “social trading” sector.

 In this week’s edition of TDR Pro, we share an update on BTC and take a deeper look at what’s happening in the trenches for clues as to what comes next.

 Topics covered:

- [Market Structure & Current Conditions Update](#market-structure-current-conditions)

- [Early Onchain Signals](#early-signals-onchain)

- [PUMP vs PONS](#pump-vs-pons)

- [Closing Thoughts & Portfolio Management](#closing-thoughts-portfolio-manageme)

 Let’s go.

# Market Structure & Current Conditions Update

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