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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

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

  1. BTC declines, with altcoins broadly falling. The main focus in the market is on the BSC chain.
  2. U.S. stocks fluctuate, and the U.S. Dollar Index drops.

Market Focus

  1. 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.
  2. 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.
  3. The older cryptocurrency XRP rises as its ETF application documents are confirmed.
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