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According to Etherscan, due to the influence of contracts such as Ethervista, Ethereum Gas has temporarily risen to 33gwei, with the top three being EthervistaRouter, UniswapRouter, and BananaGun.
The market shows BTC has fallen below $60,500, currently trading at $60,499.2, with a 24-hour growth rate narrowing to 3.66%. The market is volatile, please be prepared for risk control.
CryptoQuant data shows that CEX has experienced a large outflow of Bitcoin this year. From January 1 to August 24, 330,560 BTC (worth $20.8 billion) were withdrawn from these trading platforms. Seven months ago, CEX held a total of 3,009,239 BTC, but it has now dropped to 2,678,679 BTC. If this trend continues, the increasing scarcity of BTC could affect future market stability.
DeFillama data shows that the market value of PayPal's stablecoin PYUSD has exceeded 1 billion US dollars, currently about 1.013 billion US dollars. Among them, the proportion of PYUSD on Solana is 63.96%, and the proportion of PYUSD on Ethereum is 36.04%.
According to Cointelegraph, DefiLlama data shows that the market value of stablecoins has grown for 11 consecutive months, reaching a historical high of $168 billion (currently about $168.1 billion), surpassing the previous peak in March 2022 ($167 billion). This data does not include algorithmic stablecoins, whose value is maintained through algorithmic mechanisms rather than being linked to external assets such as fiat currency or gold.Crypto analyst Patrick Scott believes this is a sign of "new money flowing into the cryptocurrency space." In his X post on August 26th, he wrote, "Stablecoins have reached a new all-time high. The total market value of stablecoins, excluding algorithmic stablecoins, has now reached a historical high, surpassing the previous high in early 2022." When asked by another user if institutional investment was driving this increase, although he did not speculate on the reason for the increase, he did point out that "retail trading has been ongoing for at least eight months."According to CCData's report in July, stablecoin trading volume decreased by 8.35% last month due to reduced trading activity on centralized exchanges. The report noted that concerns about the future of USDT in Europe due to MiCA regulations were one of the reasons for the decrease in stablecoin trading activity on centralized exchanges in July. According to CoinMarketCap's data, this trend has continued into August, with current market trading volume slightly above $46 billion.
On August 26th, according to Bloomberg, the digital asset market value of the blockchain project related to Telegram Messenger LLP has shrunk by about $2.7 billion, reflecting the uncertainty caused by the detention of Pavel Durov, co-founder of Telegram. According to reports, Pavel Durov was detained at Paris airport on Saturday on suspicion of failing to take measures to prevent Telegram from being used by criminals. Subsequently, the token Toncoin (TON) of The Open Network fell more than 20%.
If Bitcoin follows the same pattern as previous election years, August will be “nothing crazy,” but a breakout may occur within a month or two, according to a crypto analyst.
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