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After the opening of Wall Street on July 6th, Bitcoin continued to fluctuate, with the high point of the year being replaced by a pullback.BTC/reached a new low in July near $29701Popular trader Jelle is one of those who are concerned about the possibility of prices returning to the $28000 range, and he believes this is a suitable entry point

Binance's native token BNB reversed its downward trend and began to rebound.The native token BNB of Coin An has reversed the downward trend and alleviated the concerns of digital asset investors

As concerns surrounding SEC regulatory actions began to subside, Bitcoin prices surged by 7%.This positive development has made investors doubt whether it is the right time to enter the market and invest in Bitcoin

BTC and Ethereum both fell in May, marking the first monthly decline since 2023. LTC and RNDR were the stocks with the highest monthly gains

The Zhitong Finance APP has learned that the largest cryptocurrency, Bitcoin, briefly fell below $27000 for the first time in more than two weeks, and people are concerned that a decrease in the participation of institutional market makers will trigger more severe price fluctuations. On Wednesday, in the US stock market, Bitcoin plummeted by about 5% in just a few minutes; As of the close, Bitcoin fell slightly by 0

Recently, Ethereum has completed its "Shanghai upgrade", with ETH breaking through the $2000 barrier. The surrounding ecosystem of Ethereum Layer-2 has also been hyped, especially after the Airborne drop of Orbitrum, a large amount of funds have poured into the Layer-2 track, which is exceptionally popular.In the past week, the number of transactions on the Ethereum main network was 7.296 million, while the total number of transactions on Layer-2 was 19.469 million, of which Orbitrum alone accounted for 10.405 million transactions, more than half. That is to say, the number of transactions on the L2 track is more than twice that of Ethereum, and the number of transactions for a project on the Arbitrum (10.405 million) is significantly higher than the number of transactions on the Ethereum main network (7.296 million).We know that Layer-2 is the ecological construction layer of Ethereum, and in the future, most of the ecology will migrate. Therefore, it is expected that the prosperity of L2 in the future will surpass that of Ethereum's main network. The ecological explosion of Layer-2 in the future can also be expected.However, after observing ETH's on chain data, it is believed that in terms of price alone, ETH still has some hidden concerns in the long termShort term ETH prices have little impact and remain a hot topic in the marketThe ecological explosion in Layer-2 has resulted in minimal gas consumption. In the past week, the destruction of Ethereum gas was 19818, while the destruction of Arbitrum was only 632, accounting for 3.2%.It should be noted that Arbitrum has been heavily hyped recently, with an on chain activity of 140% compared to Ethereum, but gas accounts for only 3.2%, and other Layer-2 public chains are even lower.It cannot be denied that the surge in ETH from 2020 to 2021 and the decrease in supply have had a significant impact. The ETH2.0 beacon chain has successively pledged over 10 million ETHs, and the EIP1559 agreement has destroyed over 3 million ETHs. After the official conversion of ETH to the POS mechanism in September 2022, the supply decreased by 90%, resulting in deflation since the launch of ETH2.0.All of the above have led to ETH's strength in the secondary market.Layer-2 is one of the future competition tracks and the core battlefield of the Ethereum ecosystem, but it is still mainly hyped, and in this case, gas only accounts for about 5% of the total ETH consumption. However, it is difficult for the ecosystem around Ethereum to grow explosively in a short period of time, as the core applications are still defi, NFT, stable currency, etc., with less demand.The current gas model of Ethereum is still the same as before the ETH2.0 upgrade. The next upgrade is the "Cancun Upgrade", which focuses on significantly reducing transaction fees. V God once said that when Ethereum matures, gas will decrease by 99%. Now, Ethereum processes over 1 million transactions per day. If we want to maintain gas consumption, the number of transactions will need to exceed 100 million.Weinao believes that this will take a relatively long time to achieve, soAfter the hype of "Little Spring" in 2023 is completed, there may still be some pressure on the prices in the ETH secondary market before the next bull market arrives.

As of early Wednesday morning, the trading price of Bitcoin was approximately $28400, an increase of approximately 3.7% within 24 hours