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 importantBitcoin must ‘clear resistance’ at $62K to avoid another ‘Black Monday’Bitcoin avg. transaction fee rises 937.7% in 24 hoursChangpeng Zhao moved to custody of field office ahead of Sept releaseGrayscale launches investment fund for AVAX tokenNearly 80% of hacked cryptocurrencies never recover in price — ImmunefiSun rises: Tron’s new memecoin deployer flips Pump.funRise’n’Crypto is brought to you by Cointelegraph and is hosted and produced by Robert Baggs. You can follow Robert on Twitter and LinkedIn. Cointelegraph’s Twitter: @CointelegraphCointelegraph’s website: cointelegraph.comThe views, thoughts and opinions expressed in this podcast are its participants’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. This podcast (and any related content) is for entertainment purposes only and does not constitute financial advice, nor should it be taken as such. Everyone must do their own research and make their own decisions. The podcast’s participants may or may not own any of the assets mentioned.