According to @overlayprotocol on Twitter, the M2 token by Overlay Network has recently seen increased on-chain activity and trading volume, particularly following its latest protocol upgrade announcement. Data from Dune Analytics confirms a surge in daily active addresses and a 35% rise in M2 trading volume on decentralized exchanges over the past week (source: Dune Analytics, 2024-06-12). Technical analysis from TradingView shows that M2 has breached a key resistance level at $0.24, establishing potential bullish momentum for short-term traders. The Overlay team has also implemented a new risk parameter adjustment, which may affect leveraged trading strategies (source: @overlayprotocol, 2024-06-12). Traders should closely monitor liquidity shifts and upcoming governance votes, as these factors are likely to introduce further volatility into M2 markets.