BTC Price Fluctuation Analysis

The BTC price has experienced some Fluctuation in the past 24 hours, reaching above $59,000 at its highest and falling below $58,000 at its lowest. Analysts say that BTC is currently in a crucial range, with significant uncertainty about its future trend. The Puell Multiple Index shows that BTC is approaching a "favorable" buying level.

Gas Fee Decrease on Ethereum Network

The Gas fee on the Ethereum network has dropped significantly in the past 24 hours, and is currently at a low of 0.6 gwei. The congestion on the network has eased, which is favorable for attracting more users due to the drop in Transaction Cost.

Cryptocurrency total market cap slightly declined

The total market capitalization of Cryptocurrency has slightly declined to $2.169 trillion in the past 24 hours, a decrease of 2%. The poor performance of major cryptocurrencies has dragged down the overall market performance.

South Korea BTC price premium continues

Despite the recent turmoil in the cryptocurrency market, the trading price of BTC in South Korea still maintains a premium. Data shows that the current BTC price in South Korea is about 1.52% higher than the global market.

TVL of ETH L2 Ecosystem Declines

The TVL of the second layer scaling solution ETH has dropped in the past week, and the total locked amount has dropped to $34.83 billion, a decrease of 9.52%. The ecological activity has dropped slightly.

Frequent hacker attacks in August

According to monitoring data, there were multiple hacker attacks in the cryptocurrency field in August, with losses of up to 313.86 million US dollars. Cybersecurity issues remain a major challenge for industry development.

SUI inflation rate triggers follow

Sui co-founder responded to the issue of SUIToken inflation, indicating that about 2.6% of the monthly unlocked amount of SUI accounts for the circulating supply, and it is still decreasing. Excessive Token inflation rate may affect price performance.

Hong Kong regulatory agency reviews exchange license application

According to reports, HKDAX has submitted a virtual asset trading platform license application to the Hong Kong Securities and Futures Commission. Hong Kong is accelerating the progress of cryptocurrency regulation to create a favorable environment for industry development.