​The biggest problem facing the market at present is insufficient liquidity. First, the Federal Reserve may raise interest rates, which will put pressure on the market. Second, the United States plans to issue excess bonds in September, which will also put pressure on the market. Third, the Federal Reserve also plans to reduce its balance sheet, which also puts pressure on the market. The price of Bitcoin rebounded after hitting the $25,300 level again. The short-term pressure is at $26,300. If it can hold this level, it is expected to rise to $27,500-28,500. But a rebound does not mean a trend reversal. Bitcoin may still fall again. The key support level is $24,700-25,300. If this position cannot be maintained, Bitcoin may fall significantly. Medium- and long-term investors should wait for Bitcoin to form a bottom pattern, and short-term investors should try to follow the market trend, but be sure to set a stop loss. $BTC

For the bottom-fishing opportunities in the last few months of this year, if you miss this stage to make a layout, you will soon lose the opportunity, and you may have to help others carry the sedan chair by the end of the year. Especially for Ethereum, compared with yesterday, ETH's volatility has slightly weakened, and the trading volume continues to shrink. In the short term, the market may be like this. It is still in a bear market and has not ended yet. For spot traders, it is best to put most of the funds in super mainstream digital currencies such as Bitcoin and Ethereum. #BTC #ETH

Is Friend.tech just a flash in the pan?

Since its launch on August 10, the recently-popular decentralized social platform Friend.tech has attracted a large number of users. According to Dune Analytics data, Friend.tech has generated 38,597.2 Ethereum transactions so far, with more than 1.5 million transactions on the chain, and its transaction volume even exceeds that of Bitcoin, making it one of the top three platforms in terms of daily transaction volume.

Not long ago, Banteg, a developer from the centralized financial platform Yearn Finance, obtained the wallet addresses and corresponding Twitter usernames of more than 10,000 users by crawling Friend.tech's open API. This may mean that Friend.tech can publish articles on behalf of users without the users understanding the agreement. In addition, Friend.tech's open API has information leakage issues. Users can view the wallet addresses generated on the platform through the API, making it easy to track the wallet that provided the funds.

In response to these questions, the Friend.tech team issued a statement to clarify that these messages came from an open API, similar to someone accusing you of viewing his public posts. They also said that The Block's report on Friend.tech's data leak was irresponsible. Some netizens believe that this public information is in line with the transparent nature of blockchain and there is no need to make a fuss. However, some people responded that Friend.tech needs to publish a privacy policy specifically and explain it clearly to users in the headlines.

Judging from the data such as transaction amount and transaction volume, despite the recent controversy, Friend.tech's continued growth trend has not been curbed. Friend.tech's main selling point of truly using blockchain technology is to enhance user autonomy and limit network censorship. For most people, it is surprising to see someone using their influence to make money.

Overall, it is still quite difficult for decentralized social media to become mainstream, even platforms like Mastodon that do not use cryptocurrency mechanisms face the same challenges. In addition to social platforms launched with the concept of fairness, it is difficult to promote almost all decentralized social media abroad, as they are too similar to Twitter and lack uniqueness. Coupled with the recent accusations, it may cause panic among users, after all, the public API can see the on-chain wallet address and the corresponding Twitter account, which is a risk for some people. With the recent frequent crypto murders, it is obviously necessary to separate on-chain data from real identities.

Whether Friend.tech’s privacy issues and motivation to promote cryptocurrency can attract and retain users in the long run remains to be seen.