Santiment： Ethereum has fallen 36% from its local high, and if the market stabilizes or experiences an unexpected rebound

OKX-ETH/USDT is currently trading at $2604.12, a decrease of 5.63% in 24 hours. Please pay attention to market fluctuations.

ETH has declined, with a trading volume of $37.5 billion in the past 24 hours and a circulating market value of $314.6 billion, representing a 3.03% decrease in market value. Data for reference only

According to official sources, OKX Web3 wallet has officially launched the 28th issue of Cryptopedia. During the event, users participate in and verify SOON and its ecological interaction tasks, which give them the opportunity to share 500K USDT worth of SOON tokens and ecological project points, while exploring more possibilities of the SOON ecosystem. It is worth noting that this event has launched special benefits. Users can invite friends to participate together and earn additional rewards! Binding an invitation code with a friend, holding ≥ 10 USDT assets on the SOON mainnet, and completing at least one Cryptopedia task can be considered a valid invitation. At the end of the event, the top 1000 valid invited users can also split an additional invitation prize pool of 50K USDT based on their ranking. Click on the link to participate: https://www.okx.com/zh-hans/web3/cryptopedia/event/soon

On chain data shows that the total market value of the BNB Chain test token TST mentioned by CZ on February 6th has now rebounded to around 45 million US dollars. Two days ago, the market value of TST briefly exceeded $50 million, but then fell sharply to $6.5 million.

According to BlockBeats, on February 8th, Time magazine featured Elon Musk on its cover and published an article titled "Elon Musk's War on Washington". On the cover, Musk is wearing a suit and sitting behind a luxurious wooden office desk symbolizing power (or imitating the resolute desk in the US presidential office). On the left side behind is the American flag, and on the right side is the presidential flag, implying that Musk is deeply tied to presidential power and American politics. According to the article, on one hand, there is an institution with a 64 year history, a $35 billion budget, and a mission clearly defined by federal law; on the other hand, there is a political sabotage team used by Musk to dismantle the federal bureaucracy. They call themselves members of the Department of Government Efficiency (DOGE), a group of temporary workers without a charter, website, or clear legal authorization. Its power comes from Musk, the wealthiest person on the planet, who has been tasked with dismantling much of the federal bureaucracy - cutting budgets, weakening the civil service, and depriving independent agencies of the ability to obstruct presidential goals