This week has been packed with noteworthy updates across the crypto space. From exciting additions to Binance Launchpool and significant legal developments involving Ripple, to the latest on meme coin launchpads and presidential debates, there’s plenty to unpack. Here’s a detailed look at the key happenings:
Binance Launchpool has recently introduced two new projects: Hamster Kombat (HMSTR) and Catizen (CATI). On September 12, Binance announced Hamster Kombat as the 58th project on its Launchpool platform. Hamster Kombat is a tap-to-earn game on the Telegram mini-app platform where players compete in simulated crypto exchange CEO battles. With a total supply of 100 billion HMSTR tokens, 3% of the tokens will be distributed as rewards through Launchpool.
Users can start staking Binance Coin (BNB) and First Digital USD (FDUSD) to earn HMSTR tokens starting September 23, 2024. The token will be listed on Binance on September 26, 2024, with trading pairs including HMSTR/USDT, HMSTR/BNB, HMSTR/FDUSD, and HMSTR/TRY.
Following this, on September 13, Binance unveiled Catizen as the 59th project on Launchpool. Catizen, another Telegram-based game, has garnered significant traction with 34 million players and 2 million active on-chain users. It has a maximum supply of 1 billion CATI tokens, with 9% allocated for Launchpool rewards. Staking for CATI will begin on September 16, 2024, with the token set to list on September 20, 2024, trading under CATI/USDT, CATI/BNB, CATI/FDUSD, and CATI/TRY pairs.
The Open Network (TON) is generating buzz with its upcoming airdrop events and token generation events (TGEs). Notably, Catizen’s CATI token is set to list on major exchanges such as OKX, KuCoin, Bybit, and Gate.io starting September 20. Hamster Kombat’s HMSTR will follow on September 26, with listings on Bitfinex, Bybit, and OKX.
Additionally, the CATS project is preparing for its TGE and airdrop, though the exact date is yet to be confirmed. With a user base exceeding 20 million, CATS will distribute tokens based on account age and activity level via a dedicated bot and referral system.
Ripple's Chief Technology Officer, David Schwartz, has indicated that the upcoming RLUSD stablecoin may be restricted to institutional investors. In a recent discussion, Schwartz compared RLUSD to existing stablecoins like USDC and USDT, suggesting that individual investors typically cannot purchase these directly from their issuers.
In a related legal development, the US Securities and Exchange Commission (SEC) dropped its claims against Ripple executives Brad Garlinghouse and Chris Larsen. This move has led to speculation about a possible appeal. Marc Fagel, a former SEC regional director, suggested that if an appeal occurs, it may focus on whether Ripple’s programmatic sales of XRP constitute securities sales, rather than the classification of XRP itself. Legal expert Bill Morgan assured XRP holders that the core judgment—that XRP is not a security—should remain intact despite potential legal maneuvering.
Snek.fun, a meme coin launchpad on the Cardano blockchain, has significantly increased network activity. Launched on September 5, the platform has already achieved record daily transaction volumes. Users can create tokens for a fee of 25 ADA, and once 75% of a token's supply is purchased and the market cap hits 42,069 ADA, a bonding curve is activated, adding liquidity to the pool on Splash DEX.
Despite initial challenges with high demand and network congestion, Snek.fun optimized its platform swiftly, resulting in over 2,000 tokens created within the first 24 hours and trading volumes exceeding 5 million ADA. However, some analysts are concerned about the platform’s long-term viability and have suggested that additional features, such as creator royalties and messaging systems, might be necessary for sustained success.
The recent presidential debate between Vice President Kamala Harris and former President Donald Trump failed to address cryptocurrency issues, disappointing many in the crypto community. The debate, which focused on topics such as the economy, immigration, and foreign policy, left crypto enthusiasts hoping for a discussion on digital currencies. The absence of crypto-related dialogue impacted the market, particularly affecting meme coins associated with politics, known as PolitiFi coins.
This week’s developments highlight a dynamic and rapidly evolving crypto landscape. Binance’s new projects, TON’s airdrops, Ripple’s legal challenges, Cardano’s increased activity through Snek.fun, and the impact of political discourse on crypto markets illustrate the diverse and interconnected nature of the crypto world. As always, staying informed and agile will be key to navigating these changes successfully.
September 2024, Cryptoniteuae