Bitget initiates a $400,000 rinTC award from 24 to 31 August. According to foreign media, the event focused on the exchange of AI shares and the platform hopes to increase the level of user activity during the last week of August. At the same time, the platform currency BGB has just been blocked near the 200-day average, and the market has begun to look at whether the activity will support short-line demand.

Activities continued until 31 August

According to the schedule of events, participants can receive up to 30 RINTC awards through specified transactions. The platform also established a blind box mechanism with a single award range of 0.01 to 30 RINTCs, provided that the user meets the corresponding transaction threshold.

It is argued that the more direct effect of such incentives is to pull the platform to deal, rather than to immediately change the BGB price trend. In particular, following a recent rebound in the encryption market, the exchange is more inclined to rely on activities to absorb new flows and short-term transaction needs.

BGB up and down.

According to external sources, BGB had recently risen to around the 200-day average, approximately $2.06, but was unable to stand firm. This position remains the focus of short-line observations. If follow-up breaks continue, the market area of concern may be moved upwards to $2.70 and further seen in the vicinity of $3.50.

However, the article also mentions that the above-mentioned zones are more based on the current graphic structure and do not mean that the price will arrive naturally. More important than the target position itself is whether the BGB can first establish a stable stop above the 200-day average.

Two dollars a line is still a short line.

If BGB continues to remain below $2 and the current round fails to bring about a continuous buyout, the price risk will rise. The article argues that BGB may retest lower support areas once the current structure is broken.

It was mentioned that if the market were to be cleaned up again, the price might even go down to $1, which in extreme cases would not preclude touching $0.50. Overall, however, the central judgement of the external media is that it is difficult to reverse the trend in a single platform event, and that follow-up will depend on whether the actual deal and the buyout are followed up.