According to Michaël van de Poppe, the Crypto Fear & Greed Index has dropped to 10, a level last seen during the $LUNA collapse. After that event, Bitcoin experienced a 500% rally, indicating that such negative sentiment levels could present significant buying opportunities for traders. Citing historical data, this ultra-negative sentiment might be favorable for those considering long positions.

According to IntoTheBlock, hundreds of thousands of wallets are active in the Virtuals ecosystem, but a significant portion holds only minimal balances. Specifically, 90% of $LUNA wallets, 88% of $GAME wallets, and 86% of $SEKOIA wallets contain less than $1. This suggests limited trading activity or engagement by most wallet holders, potentially impacting liquidity and trading volumes for these tokens.