Gate.io Blog August 2022 | Gate.io Monthly Featured Articles and Market Highlights

August 2022 | Gate.io Monthly Featured Articles and Market Highlights

31 August 15:30

Gate.io monthly featured articles will include the most liked and the most viewed entries from our August blog posts. We will also integrate the release of macro global events in the following month. Because the market is changing rapidly, our updates will help you capture the latest valuable information and ensure your access to quality articles.

✨ August Highlights ✨

#Tesla sells Bitcoin; #Solana is attacked on a large scale; #Shiba Inu coin and Dogecoin rise#

🔷 What Impact Will Tesla’s Selling Of 75% Bitcoin Have On The Crypto Market?
“Elon Musk said the sales of Bitcoin and conversion to fiat became necessary due to the covid 19 lockdown in China and the need to maximize Tesla’s cash positions.”

🔷 With the International Tension Superimposed on the Massive Attack on Solana, Is the Best Bet Advancing or Retreating?
“The crypto market in the long-term bear market cycle also seems to have ushered in an "eventual year". On August 2, Nomad, a cross-chain protocol, was stolen for approximately $190 million. The next day, Solana, a public chain, was attacked on a large scale.”

🔷 Those Giants Who Have Been Hurt by LUNA
“Nowadays, the crypto field is undergoing an unprecedented reshuffle.”

🔷 "Memecoins" Gear up to Rush to the Moon, Concerns about the Ethereum Merge Remain
“The current market growth and the upcoming Merge of Ethereum have increased investors’ hopes. However, concerns remain: will the network hard fork appear?”

❤️ Netizens Favorites ❤️

❤️ 109 netizens expressed their love for “5 kinds of Tanabata Festival Crypto Gifts, Love in the Digital Age Should be More Avant-garde”

❤️ 117 netizens expressed their love for “Where Is the Future of GameFi”

❤️ 123 netizens expressed their love for “Crypto Bear Market to Last 8 Months”

❤️ 156 netizens expressed their love for “Will ApeCoin Become the Mainstream Payment Currency?”

❤️ 100 netizens expressed their love for “The World Is Sinking and The Market Is Jittering”

👀 Hot Spots in the Crypto Space 👀

🔷 How to avoid FOMO emotion in transaction
“FOMO means acting on impulse, which often arises from perceived opportunity that a trader does not want to let pass, therefore, deviating from plans.”

🔷 Will NFT Overturn the Music Industry?
“Based on NFT, artists can fully own the ownership of their music works without sharing the profits with music companies, lawyers and other intermediary institutions, which is the embodiment of the core value of NFT music.”

🔷 Ethereum Key Miner, Chandler Guo, pushes for POW Ethereum Fork as the Network Inches toward the Merge
“This intention was confirmed by a Twitter post he made on July 27, tagged “ETH PoW will be coming soon (sic)”, along with screenshots and videos of messages in Mandarin where he was discussing the plan.”

🔎 Market Highlights in August 🔍

As of August 30, the crypto market Fear & Greed Index was [Fear-27], down 12 from [Fear-39] last month.

In August, Bitcoin broke through $25,000 for the first time since the collapse in June, but then returned to $20,000. Large institutions have retreated in the macro situation. Tenacious retail investors are the backbone of this bear market cycle. According to Chainalysis, the number of Bitcoins held for more than one year has increased by 54,300 on average in the past four weeks, which is approximately the largest increase in four months. Meanwhile, according to Arcane Research data, the cryptocurrency exchange had a net outflow for three consecutive months, and investors chose to put their tokens into cold wallets instead of selling them. As of August, the real rebound force has not yet appeared. We hope that the Ethereum upgrade in September can introduce new vitality into the market.

🟠 The BTC opening price in August was $23,776.05, and the current quotation was $20,466.10 at 12:00 on August 30, representing a decrease of 13.92%.

🔵 The ETH opening price in August was $1,071.60. At 12:00 on August 30, the current quotation was $1,582.23, representing a decrease of 7.58%.

🌍 Global Affairs in September 🌍

Author: Gate.io Observer: Jill Ma Translator: Joy Z.
* This article represents only the views of the observers and does not constitute any investment suggestions.
*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all other cases, legal action will be taken due to copyright infringement.

BTC/USDT + 6.15%

ETH/USDT + 3.99%

SOL/USDT + 4.85%

DOGE/USDT + 8.00%

SHIB/USDT + 6.35%

GT/USDT + 2.89%

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August 2022 | Gate.io Monthly Featured Articles and Market Highlights

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