The recent Bitcoin market continues to fluctuate, maintaining a range of $25,300 to $26,500, while there is a key resistance zone between $26,800 and $27,200. If the Bitcoin price rises to this area, it may provide an opportunity to initiate a short trend. Conversely, the key support below is at $25,300, and if this level is not broken, the market will continue to maintain a high-short and low-long pattern. However, once broken, it will break the previous sideways state. This is something everyone needs to pay special attention to.
At the same time, it is impressive that the recent number of new Bitcoin addresses has increased significantly, reaching a new annual high. This trend has emerged during a period when the Bitcoin price has continued to fluctuate below $26,000, bringing some uncertainty to market participants.
Data shows that approximately 527,000 new BTC addresses are created every day, setting a new annual high. This means that even during periods of price volatility, people's interest in Bitcoin continues to grow.
The surge in new Bitcoin addresses indicates that more and more people are joining the cryptocurrency field, demonstrating their confidence in the long-term potential of digital assets.
From late August to early September, there has been a significant increase in the number of new addresses, with over 510,000 new addresses added daily. In comparison, a few months ago in May, Bitcoin averaged only about 390,000 new addresses per day. The recent peak reached approximately 527,000 new addresses per day, setting a new annual high. This further highlights the growing interest in Bitcoin, despite the recent significant price fluctuations.
By delving into the potential impact of this trend on the long-term prospects of Bitcoin, we believe that the surge in the number of new addresses is a positive signal, indicating sustained interest and trust in the Bitcoin network. This is particularly reassuring for investors who believe in the fundamental strength of cryptocurrencies and hold a long-term investment view.
Despite the significant price fluctuations of Bitcoin, the broader sentiment in the cryptocurrency ecosystem seems to be generally positive. Data shows that Bitcoin network fees have increased by 38% in the past week, coinciding with the surge in new addresses. This indicates that as more users participate in trading and other activities, activity on the Bitcoin network will increase.
The increase in network fees is an interesting observation and can be seen as a reflection of the growing demand for Bitcoin-related services (including trading and investment). Furthermore, it also indicates that despite recent market volatility, Bitcoin remains the focus of attention and activity in the cryptocurrency field.
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L2 Leading Projects: Arb and Op, these two projects are leading in the L2 (Layer 2 scaling solution) space.
Leading Application Projects: GMX, RDNT, Magic, Velo, Snx, where GMX, RDNT, and Magic belong to the Arb series, while Velo and Snx belong to the Op series. They have received support for the corresponding L2 technology, and their performance will benefit accordingly when L2 technology breaks out.
L2 Alternative Projects: Polygon, Polygon is an independent sidechain with its own consensus mechanism.
zkRollup Application Projects: LRC, IMX, currently, there are no corresponding tokens for the widely used zkRollup technology, and LRC and IMX are relatively easy to speculate on in the zkRollup field.
Optimism Fork Projects: Boba, Metis.
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