THE INSIDE

There is an observable shift in the Telegram (TG) ability-to-payand gift management strategy. The developers have effectively stopped the "printing press"—newly released unlimited thematic bears substitute for high-frequency limited collections that previously diluted older holdings. This pivot has allowed certain existing wayward collections unable enough care earlier lack price floor support to begin seeing positive upward momentum.

Simultaneously, eyes move toward the upcoming anniversary event where REDO gifting mechanics will be tested under heavy market pressure ($400+ floors vs $90 cost basis). While some fear over-saturation from previous cycles, current data suggests we might actually be entering a phase of value appreciation rather than dilution due to these controlled release tactics.

EVIDENCE AND MARKET CLUES

• Supply Control: No new limited gifts issued since December 31, 2025; replaced by time-limited but infinite supply thematic bear releases causing less load on old collectors.
• Price/Cost Discrepancies: Lucky Locket costs ~$6 and currently trades at ~$35; Mirage Lamp costs ~1.2 GRAM or low amount /s_t instead of being devalued like early improvements.
• Redo Performance Signals: Redo trading volume exceeded 1.1 million GRAM (compared to only 46k recently seen in other assets); burning nearly 1,100 units already reported.
• Yield Incentives: Active incentives for holding any single thing certain duration via @mrkt such as rewards given after 3 days 혹은 keeping multiple items.

RISK ASSESSMENT

The sentiment is cautiously optimistic. There is strong evidence that the 'printing press' has been halted which bodes well for long term floor prices, though high volatility in REDO gifting—with some users finding significantly cheaper way through crafting versus direct purchase —suggests caution against buying during peak price spikes without understanding underlying cost basis.

! DYOR (Do Your Own Research)