According to @milesdeutscher, while Bitcoin's (BTC) price action has calmed, the resulting low volatility presents a unique trading opportunity. NYDIG Research notes that this environment makes both call and put options 'relatively inexpensive' for traders positioning for directional moves ahead of key market catalysts. Concurrently, Ethereum (ETH) is showing strong institutional interest, with OKX Chief Commercial Officer Lennix Lai suggesting a move to $3,000 is 'increasingly likely' as ETH's perpetual futures volume surpasses BTC's on the exchange. Glassnode data reinforces the institutional accumulation narrative for Bitcoin, observing that long-term holder supply is growing despite significant profit-taking. In the layer-1 race, analysis from CryptoQuant and Presto Research highlights Tron (TRX) as a major beneficiary of stablecoin inflows, attracting over $6 billion in May, while chains like Ethereum and Solana (SOL) experienced outflows.