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- 📢 Exclusive on Gate Square — #PROVE Creative Contest# is Now Live!
CandyDrop × Succinct (PROVE) — Trade to share 200,000 PROVE 👉 https://www.gate.com/announcements/article/46469
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🎁 Endless creativity · Rewards keep coming — Post to share 300 PROVE!
📅 Event PeriodAugust 12, 2025, 04:00 – August 17, 2025, 16:00 UTC
📌 How to Participate
1.Publish original content on Gate Square related to PROVE or the above activities (minimum 100 words; any format: analysis, tutorial, creativ - 💙 Gate Square #Gate Blue Challenge# 💙
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August 11 – 20, 2025
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1. Post your original creation (image / video / hand-drawn art / digital work, etc.) on Gate Square, incorporating Gate’s brand blue or the Gate logo.
2. Include the hashtag #Gate Blue Challenge# in your post title or content.
3. Add a short blessing or message for Gate in your content (e.g., “Wishing Gate Exchange continued success — may the blue shine forever!”).
4. Submissions must be original and comply with community guidelines. Plagiarism or re - 🎉 The #CandyDrop Futures Challenge# is live — join now to share a 6 BTC prize pool!
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📅 Event Period: August 1, 2025, 15:00 – August 15, 2025, 19:00 (UTC+8)
👉 Event Link: https://www.gate.com/candy-drop/detail/BTC-98
Dare to trade. Dare to win.
Pay network angels double their investments as the market hits new lows.
Despite the decline of the PAY currency to its all-time low of $0.32 this month, part of its community is freezing millions of tokens instead of selling them.
New data indicates that over 3.3 million BAI were voluntarily frozen in a single day, a move that many see as reflecting long-term confidence in the project.
These commitments come after the Pay network's decision to reduce the mining rate to its lowest level yet, as part of a strategy to reduce token inflation. At the same time, August started with over 19 million Pay entering the market, continuing the trend of heavy token unlocks observed in July, which had already put pressure on prices.
Market sentiment has been mixed. While the low token flow may eventually limit selling pressure, immediate sentiment remains weak. BAI is struggling to maintain a level above $0.35, with $0.32 acting as a fragile support area. Network issues haven't helped—over half of all transactions are currently failing, and activity has decreased from previous months.
Whale movements are also attracting attention. A large wallet has quietly accumulated around 350 million BAI, making it the largest non-institutional holder. Analysts suggest that this type of buying may mitigate the impact of upcoming token unlocks.
However, the fate of the PAY coin is closely tied to the broader cryptocurrency market. With warnings from figures like Robert Kiyosaki and Arthur Hayes about a potential drop in Bitcoin in August, traders remain cautious. A significant drop in Bitcoin could easily pull PAY down before any recovery can take hold.
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