Market dynamics on February 17: BTC and altcoins generally decline; BSC chain becomes the main market trend, transaction fee surpasses ETH chain for the first time
Bitget2025/02/17 02:28
Market Dynamics
- BTC declines, with altcoins broadly falling. The main focus in the market is on the BSC chain.
- U.S. stocks fluctuate, and the U.S. Dollar Index drops.
Market Focus
- On the BSC chain, CAKE, XVS, COOKIE, BNBXBT, and SHELL all rise, marking the first time last week that BSC's transaction fees exceeded those of the ETH chain.
- The SOL series weakens across the board, with a significant unlocking event of $2.2 billion due at the beginning of March. Chain liquidity was again drained by $100 million, evolving from day-long pumps to half-hour sprints, marking the regression of the SOL chain into a PvP chain since the involvement of TRUMP, MELANIA, CAR, and LIBRA.
- The older cryptocurrency XRP rises as its ETF application documents are confirmed.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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