The crypto market was abuzz this week with a sequence of massive occasions. Amongst them have been Telegram’s CEO going through authorized challenges in France, the TON blockchain experiencing technical disruptions, and the scheduling of the long-awaited Hamster Kombat Token Technology Occasion (TGE) going down.
These developments have drawn the eye of crypto buyers and merchants.
Considerations Over Bitcoin’s Centralization Amid Mining Energy Consolidation
The crypto group is more and more nervous about Bitcoin’s centralization, fearing it’d undermine the rules that made it revolutionary. Knowledge from BTC.com reveals that two mining swimming pools, Foundry USA and AntPool, now management roughly 57% of Bitcoin’s complete community hashrate. This focus of energy is alarming, because it may result in potential censorship and a shift away from Bitcoin’s decentralized ethos.
Foundry USA, owned by Digital Forex Group, aligns with US pursuits, whereas AntPool, operated by China’s Bitmain Applied sciences, represents Chinese language affect. This geopolitical divide has sparked debates on the way forward for Bitcoin, particularly because the rivalry between these mining giants intensifies.
Bitcoin mining swimming pools enable particular person miners to mix their computational energy, growing their possibilities of efficiently mining a block. Nonetheless, the rising dominance of some massive swimming pools raises considerations concerning the centralization of mining energy and its implications for Bitcoin’s decentralization.
Tokenized Actual-World Property Market Surpasses $10 Billion
The tokenized real-world property (RWAs) market has reached a big milestone, surpassing $10.9 billion. This progress, pushed by robust demand for personal loans and US Treasury debt, represents a $2 billion improve because the starting of the yr.
The tokenized US Treasury market has skilled substantial progress. Its complete worth expanded from $726.23 million to $2.07 billion in 2024.
Tokenized Treasury Complete Market Capitalization. Supply: rwa.xyz
Tokenized RWAs supply benefits akin to better liquidity, simpler asset transfers, and enhanced regulatory compliance by way of good contracts. Nonetheless, the sector faces challenges that embrace establishing the legitimacy of tokens, making certain their authorized acceptance in courts, and securing good contracts. Addressing these challenges is important for tokenized RWAs to attain widespread adoption.
Viral Telegram Recreation Hamster Kombat’s TGE Set for September 26
Hamster Kombat, a tap-to-earn recreation on Telegram, has introduced that its Token Technology Occasion (TGE) and airdrop will happen on September 26. Touted as one of many largest in crypto historical past, this airdrop will allocate 60% of its quantity to gamers, with the rest used to reinforce market liquidity and develop the sport’s ecosystem.
The airdrop was initially scheduled for July however was postponed attributable to operational challenges. The Hamster Kombat crew has since labored intently with the TON ecosystem to make sure a easy occasion.
Main exchanges akin to Bitget, Bybit, Gate.io, and KuCoin have already listed the HMSTR token for pre-market buying and selling, sparking vital curiosity earlier than the TGE.
Moreover, the event crew plans to launch Season 2 of Hamster Kombat. On this section, they purpose to introduce new options to maintain gamers engaged and entice new customers.
“This begins the transformation of Hamster Kombat from a recreation right into a gaming platform, just like how Valve moved on from launching cult-status video games to Steam, the biggest recreation market for PCs,” the crew shared with BeInCrypto in an e mail.
Toncoin Skilled Slight Surge Submit-Pavel Durov’s Launch
Telegram CEO Pavel Durov was launched from custody on August 28 following a four-day detention in France. Durov is below judicial supervision, required to publish a €5 million (roughly $5.50 million) bond, and barred from leaving the nation.
BeInCrypto reported that French authorities arrested Durov on August 24 at Le Bourget airport close to Paris on a number of prices. These prices included facilitating drug trafficking, organized fraud, and distributing pornographic content material involving minors. Additionally they cited his refusal to cooperate with regulation enforcement, withholding crucial info essential for authorized investigations.
Following his launch, Toncoin, the native token of The Open Community (TON) blockchain, which is intently related to Telegram, noticed a big worth surge. The token’s worth jumped 8.3% inside simply 20 minutes.
TON Blockchain Faces Technical Challenges Amid Community Outages
TON blockchain confronted vital technical challenges this week, resulting in a number of outages. On August 27, the community stopped producing blocks for about seven hours, resuming regular operations the following day. Nonetheless, one other disruption occurred, inflicting additional delays.
These outages have been attributed to an amazing inflow of transactions associated to the newly launched DOGS meme coin. The TON Blockchain crew has assured customers that their property usually are not in danger and is engaged on options to forestall future disruptions.
In accordance with Tonscan knowledge, TON blockchain has resumed regular operations on the time of writing. Regardless of the decision, the outages have raised considerations concerning the community’s potential to deal with surges in exercise.
DOGS Meme Coin Faces Market Volatility Submit-TGE
The DOGS meme coin debuted on Telegram and skilled a dramatic 25% drop shortly after itemizing on main exchanges. This sharp decline has sparked combined reactions amongst airdrop recipients, with some celebrating their free tokens whereas others categorical disappointment over the itemizing worth.
Regardless of this volatility, DOGS maintains a market capitalization of over $614 million, securing its place among the many prime 100 crypto property. The meme coin at present operates on the TON blockchain. It gives utility inside the Telegram ecosystem, rewarding long-standing and lively customers primarily based on their account age and exercise.
Trying forward, the DOGS crew plans to introduce further options, together with mintable meme stickers and customizable content material, which may assist stabilize the coin’s worth and increase its utility inside the Telegram ecosystem.
