Kategorie: Crypto Markets

Daily headlines and news about crypto markets.

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Hamster Kombat reveals only 43% of its players will receive the tokens in airdrop

  • The Hamster Kombat airdrop has been touted as one of the largest in crypto history
  • The airdrop will distribute 60 billion HMSTR tokens
  • The Hamster Kombat team rejected VC offers, ensuring token value is driven by community demand

The Hamster Kombat team has announced that only 43% of its players qualify for the highly anticipated season one airdrop, generating significant buzz in the Web3 community.

With a user base exceeding 300 million, only 131 million players have met the eligibility criteria for the airdrop scheduled for September 26.

This announcement follows the ban of 2.3 million users for cheating after the game introduced an anti-cheating strategy, underscoring the game’s commitment to maintaining a fair environment.

The Hamster Kombat airdrop

The Hamster Kombat airdrop will distribute a staggering 60 billion tokens from a total supply of 100 billion Hamster Kombat (HMSTR) tokens.

In a bid to foster community engagement, the team has allocated 75 billion tokens to community members, with 60% of the total supply set for distribution after season one with the remaining 15% scheduled for distribution in the upcoming season two.

Eligible players can expect to receive 88.75% of their allocated tokens immediately, while the remaining 11.25% will be vested and released 10 months post-listing on exchanges. This means that approximately 53.25 billion tokens will be distributed instantly, with an additional 6.75 billion to follow 10 months later.

The airdrop is being hailed as the largest in crypto history, emphasizing its significance in the rapidly evolving landscape of digital currencies.

Hamster Kombat’s meteoric growth

Hamster Kombat has experienced meteoric growth, recording 239 million users within its first 81 days of launch on Telegram.

The game’s success has drawn attention from industry leaders, including Telegram’s founder Pavel Durov, who believes it could significantly contribute to Web3 adoption by onboarding millions of new users to the crypto space.

However, despite Hamster Kombat’s impressive user numbers, the reality of the airdrop has raised questions about the fairness of token distribution. With only 43% of players qualifying, many are left wondering what this means for the game’s long-term sustainability and community dynamics.

In a proactive move, the Hamster Foundation has rejected offers from venture capital firms, ensuring that no early investments will influence the token’s market value.

The team asserts that HMSTR’s worth will be determined solely by supply, demand, and community interest, aiming to create a more equitable playing field for all participants.

As the countdown to the airdrop begins, players and crypto enthusiasts alike are watching closely, eager to see how this unprecedented distribution will impact the future of Hamster Kombat and the broader Web3 ecosystem.

The post Hamster Kombat reveals only 43% of its players will receive the tokens in airdrop appeared first on CoinJournal.

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Top 3 Ethereum rivals gunning for the second-largest crypto spot

As Ethereum continues to dominate the cryptocurrency market as the second-largest digital asset by market capitalization, new contenders like Solana, Cardano, and Rexus Finance are gaining traction with investors and developers. These projects are innovating in ways that could eventually challenge Ethereum’s position, each bringing unique benefits and developments to the table. Rexus Finance is focused on tokenizing real-world assets (RWA), fueling a revolution in ownership and liquidity in decentralized finance (DeFi). Meanwhile, Solana’s high-speed, low-cost blockchain and Cardano’s focus on scalability, sustainability, and smart contract integration position them as serious competitors in the evolving crypto space.

Rexus Finance (RXS): Rising Beyond RWA Tokenization

While Ethereum faces market fluctuations and short-term uncertainty, the real-world asset (RWA) sector is experiencing significant growth, and Rexus Finance (RXS) is at the forefront of this transformation. By integrating physical assets like real estate, commodities, and art into blockchain technology, Rexus Finance offers a compelling solution for investors seeking stability and diversification.

RWA tokenization makes traditionally illiquid assets more accessible by allowing fractional ownership, enabling investors to contribute as little as $100 or as much as $1 million. Rexus Finance’s model opens up opportunities that were previously out of reach for many, democratizing asset ownership and providing access to a global marketplace of valuable assets. This innovative approach gives Rexus Finance a solid foundation to potentially rival Ethereum in terms of market influence.

Solana (SOL): Attracting Investor Interest

Solana has been gaining attention from investors thanks to its recent price movements, which have sparked optimism in the crypto community. According to several analysts, Solana’s relatively low open interest of $1.76 billion is a positive sign, suggesting that the risk of steep downward price movements is limited. Currently trading around $137, Solana has shown strength in its price recovery and is expected to continue its upward trend.

Despite minor bearish sentiments among short-term traders, Solana’s long-term potential remains strong due to its rapid transaction speeds, low costs, and strategic partnerships. The broader market’s bullish momentum, fueled by Bitcoin’s recent gains, is expected to support further price increases for SOL. With its cutting-edge technology and scalability, Solana is well-positioned to secure a top spot among the largest cryptocurrencies.

Cardano (ADA): A Leading Competitor

Cardano (ADA) has also been generating excitement, with bullish technical signals suggesting its potential to challenge Ethereum’s position. One key development is Cardano’s recognition of the $0.32 horizontal support level, which has held for nearly two years. This stability reinforces investor confidence in ADA, and recent indicators, such as a positive divergence in the Relative Strength Index (RSI), point to an impending trend reversal that could see Cardano’s price rise significantly.

Cardano’s transaction volume recently peaked at $6 billion within a week in September, further highlighting the growing interest in the platform. Analysts have noted a bullish pattern in Cardano’s price action, with some predicting that ADA could reach a minimum of $0.61. In addition to price trends, the expansion of smart contracts on Cardano’s framework and the continued growth of its ecosystem position it as a strong candidate for growth during the current bull market.

Conclusion

Rexus Finance is rapidly emerging as a strong contender for the second-largest cryptocurrency position, thanks to its innovative approach to real-world asset tokenization. By bridging physical assets with blockchain technology, Rexus Finance offers stability, diversification, and liquidity, setting it apart from competitors like Solana and Cardano.

With the potential to revolutionize asset ownership, Rexus Finance has a solid chance of gaining significant market influence and potentially overtaking Ethereum in the race for dominance. However, both Solana and Cardano are also making strides with their technological advancements and market performance, making this competition one to watch closely.

The post Top 3 Ethereum rivals gunning for the second-largest crypto spot appeared first on CoinJournal.

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Ethereum Foundation sells 300 ETH as price hits $2.5k

  • The Ethereum Foundation has sold a total of 950 ETH worth over $2.2 million in the past three weeks.
  • On Sept. 20, the non-profit sold 300 ETH for over $760,000 as Ethereum price rose to above $2,500.

The Ethereum Foundation has once again dumped more Ether tokens, this time offloading 300 ETH worth more than $760,000.

According to on-chain data, the foundation sold the 300 ETH on Friday for an average of $2,543 – which is a level that is 5% up on intraday lows of $2,440.

In recent days, the organization had put some breaks to its selling spree. Before the brief lull, the Ethereum Foundation had become one of the top ETH holders to dump as prices stalled. But on Sept. 20, the dump resumed.

EF has sold Ether every 4-7 days

On Sept. 6, the Ethereum Foundation sold 100 ETH for $226,868. It’s a sale that brought the foundation’s increased selling across three weeks to 650 ETH, with these valued at about $1.5 million.

According to on-chain insights platform Spot On Chain, the non-profit organization has sold 950 ETH since the start of September. These sales amount to over $2.2 million, with the average sale price being $2,392.

The Ethereum Foundation has sold the native Ethereum token every 4-7 days, on-chain data shows.

In May 2024, the Ethereum Foundation sold 1,000 ETH for over $3 million, with year-to-date totals at the time reaching 1,766 ETH sold for over $4.8 million.

The latest dump, another big one, comes after Ethereum price surged from under $2,200 levels reached earlier this month.

At the time of writing, ETH traded around $2,552, roughly 5% up in the past 24 hours and +8.5% in the past week.

These gains have come as Bitcoin price surged to above $63,000 after this week’s Fed moved to cut interest rate by 0.5%.

Earlier, CoinJournal highlighted that five Satoshi era Bitcoin wallets that had been dormant for 15 years, woke up and transfered 250 BTC.

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Crypto exchange BingX hacked for $43 million

  • BingX was hacked early Friday, Sept. 20, with $43 million in cryptocurrencies stolen from the exchange’s hot wallet.
  • Hacker stole ETH, BNB, USDT and over 300 other coins and tokens.
  • On-chain data shows the attacker quickly swapped most of the assets for Ethereum and BNB.

BingX has been hacked, with the security breach resulting in the draining $43 million from the Singapore-based cryptocurrency exchange’s hot wallet.

Blockchain security firm PeckShield reported on the exploit early Friday.

Etherscan data indicates that of the $43 million stolen, over $13.2 million ETH, more than $2.3 million BNB, and more than $4.4 million USDT. The hacker also drained BingX’s hot wallet of 360 other coins – with these swapped into ETH and BNB at decentralized exchanges including Uniswap and KyberSwap.

BingX suspends withdrawals

Vivien Lin, the chief executive officer of BingX, confirmed the incident via an update posted on X.

Lin noted that the exchange’s technical team detected the breach around 4:00 am on Sept. 20, identifying an “abnormal network access.” The BingX security team immediately initiated the platform’s emergency plans, including urgently transferring assets from the hot wallet and halting withdrawals.

“To ensure security, withdrawals have been temporarily suspended while we conduct an emergency inspection and strengthen wallet services. We sincerely apologize for the inconvenience. Withdrawals will be restored within 24 hours at the latest,” Lin added.

The BingX CEO also assured users that the exchange is safe.

According to BingX, the losses are “only minor” and that most of the users’ funds are in cold storage.

One of the biggest exploits on a crypto exchange in 2024 happened in July when hackers stole over $230 million from India-based cryptocurrency exchange WazirX. The attacker has managed to launder most of the funds, the latest being $6.5 million sent to Tornado Cash.

The post Crypto exchange BingX hacked for $43 million appeared first on CoinJournal.

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Tether invests $1.5 million in Sorted Wallet

  • Tether announced its $1.5 million strategic investment in Sorted Wallet on Sept. 19.
  • Sorted Wallet will tap into this investment to expand its services across Africa and Southeast Asia.
  • Tether is the company behind leading stablecoin USDT.

Tether has invested $1.5 million in Sorted Wallet, a crypto wallet platform targeted for crypto adoption across the emerging markets.

In an announcement on Thursday, Sept. 19, Tether said the strategic investment in Sorted Wallet aims at enhancing financial inclusion in Africa and the Southern Asia region.

“This investment underscores Tether’s commitment to advancing financial inclusion and economic empowerment in underserved regions,” Paolo Ardoino, chief executive officer of Tether, said.

Financial inclusion

According to the Tether CEO, investing in Sorted Wallet will help bring more people with basic mobile phones into the crypto space.

Such support unlocks new opportunities that allow more users to integrate the digital assets ecosystem across the financial space. Most of these are the unbanked in emerging markets – whose stand to benefit from financial inclusion.

“Our goal is to ensure that everyone, regardless of location or phone type, can securely manage and utilize cryptocurrency, empowering them to build a more secure financial future and actively engage in the evolving digital economy,” the Tether exec added.

Sorted Wallet eyeing expansion

Sorted Wallet is a non-custodial wallet that allows users to engage in the digital asset finance market using their feature phones or low-powered smartphones.

The $1.5 million investment from Tether will bolster Sorted Wallet’s expansion efforts both in Africa and Southeast Asia.

As the issuer of the world’s largest stablecoin USDT, Tether plays a key role in the crypto space. The company has expanded its stablecoin usage across the globe with initiatives.

In recent months, Tether has partnered several platforms and institutions to support blockchain and crypto through educational programs.

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