Memecoin ‘flippening’ incoming? Bitcoin transaction fees spike 938%

Bitcoin’s price is currently bouncing between the $60,000 support and $62,000 resistance levels as analysts warn that breaking through the 200-day moving average is essential to avoid BTC testing $50,000 again. However, while Bitcoin’s price is tame, its network transaction fees have been anything but — spiking nearly 938% on Aug. 22. Elsewhere in the crypto sector has been busy; former Binance CEO Changpeng Zhao has left prison 38 days before his expected release, but despite the rumors, he’s not free yet. Grayscale has launched an AVAX investment fund, 80% of hacked cryptocurrencies struggle to ever recover in price, and Tron makes a play for Solana’s memecoin crown.

Further reading:

• Bitcoin is holding $60K — Here’s why it’s important
• Bitcoin must ‘clear resistance’ at $62K to avoid another ‘Black Monday’
• Bitcoin avg. transaction fee rises 937.7% in 24 hours
• Changpeng Zhao moved to custody of field office ahead of Sept release
• Grayscale launches investment fund for AVAX token
• Nearly 80% of hacked cryptocurrencies never recover in price — Immunefi
• Sun rises: Tron’s new memecoin deployer flips Pump.fun

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