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🎲 September Crypto Crash Wipes Out $170B, Bitcoin and Ethereum Take the Biggest Hit

✨ Between Sept. 1 and Sept. 7, 2024, the crypto market took a notable hit, shedding $170 billion in value. Bitcoin and ethereum were the main drivers of this downturn, responsible for 78.82% of the week’s losses. These two heavyweights saw their combined market caps shrink the most, dragging the entire market down with them.

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🪙 Bitcoin ETFs Lose $211 Million as Ethereum Funds See Modest Outflows

🔹 Thursday’s trading session saw spot bitcoin exchange-traded funds (ETFs) experienced outflows totaling $211.15 million, while ethereum ETFs faced a much smaller decline of $152,720.

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🤑 DOGS Token Price Poised for Strong Recovery

💡 By leveraging nearly 1 billion Telegram users, the Toncoin ecosystem successfully launched a range of meme coins, receiving substantial support from the Web3 community.

As a result, these meme coin projects are expected to experience significant volatility and notable gains, especially in anticipation of the upcoming altseason. According to the latest market data, the leading meme coins on the TON network boast a combined market capitalization of approximately $593 million, with an average daily trading volume of around $479 million.

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💳 Mastercard launches euro non-custodial #Bitcoin and crypto debit card.

They has over 100 MILLION merchants 🔥

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🧠 Notable Token Unlocks in September 2024

🔒 The cryptocurrency sector this September will continue unlocking billions of USD worth of tokens into the market. Please note that this article only highlights a few projects with significant token unlock events this month. Readers can find more detailed information on the Token Unlocks.

💙 September 3 – Sui (SUI) unlocks 64.19 million tokens (2.47% of circulating supply), valued at $52.2 million.
💙 September 6 – Immutable (IMX) unlocks 32.47 million tokens (2.06% of circulating supply), valued at $48.5 million.

💙 September 7 – Neon (NEON) unlocks 53.91 million tokens (93.4% of circulating supply), valued at $19.6 million.

💙 September 11 – Moca Network (MOCA) unlocks 19.31 million tokens (15.7% of circulating supply), valued at $19.3 million.

💙 September 12 – Aptos (APT) unlocks 11.31 million tokens (2.33% of circulating supply), valued at $78.1 million.

💙 September 16 – Arbitrum (ARB) unlocks 92.65 million tokens (2.65% of circulating supply), valued at $48.7 million.

💙 September 19 – Polyhedra Network (ZKJ) unlocks 15.5 million tokens (17% of circulating supply), valued at $17.5 million.

💙 September 22 – SPACE ID (ID) unlocks 78.49 million tokens (18.23% of circulating supply), valued at $27.3 million.

💙 September 31 – Optimism (OP) unlocks 32.21 million tokens (2.71% of circulating supply), valued at $45.8 million.

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🪙 The Weight of Bitcoin's Latest Freefall Pushes Crypto Market Below $2 Trillion

💥 According to the latest stats, bitcoin (BTC) has taken a 2.5% dip against the U.S. dollar in the last 24 hours and is down 5.8% over the past week. The top cryptocurrency hit an intraday low of $55,602 per coin, and by Wednesday morning just before 11 a.m. EDT, it was just skimming above $57,400 per unit.

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💎 TON Blockchain Reaches 1 Billion Transactions

🆕 The TON blockchain recently announced it has reached a milestone, registering a billion completed transactions on its network. Through its social media channels, the TON network team explained that half of this volume had occurred during the last three months. The project has benefited from the activity generated by projects such as Notcoin and Dogs and the launch of USDT, the dollar-pegged stablecoin with the largest market cap, on its network. However, not all has been smooth sailing for TON, as the blockchain suffered two outages linked to the DOGS token airdrop, which caused congestion and forced validators to do a chain restart to reestablish consensus.

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🔝 Stacks (STX) Drops 15% Despite Continuous On-Chain Developments – Details

💊 Stacks struggles to stand on level ground as it continues to fall despite the market’s attempt to rebound in the short term. According to CoinGecko, STX bled 15% since last week with the token attempting to reverse the downward momentum with a nearly 4% uptick in the past 24 hours.

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🪙 Is Ethereum Headed For Trouble? Analyst Warns Of Surging Exchange Reserves

🎇 Ethereum, the second-largest cryptocurrency by market capitalization, has been under significant pressure in recent weeks. As its price continues to fluctuate, analysts have been observing its market signals to determine whether the current phase is one of accumulation or distribution.

👑 According to a recent analysis by CryptoQuant analyst Shayan, the Ethereum exchange reserve metric, which tracks the amount of ETH held in exchange wallets, is providing insights into this question.

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🪙 Bitcoin’s August Slump: Dormant Wallets Stirred, But Vintage BTC Spending Slowed

✈️ Bitcoin faced a challenging August, with its price dipping by 8.6%. Data shows that although 84 previously inactive bitcoin wallets became active last month, the total amount of vintage BTC spent was lower in August than in July. Specifically, dormant wallets spent around 2,291 BTC from addresses that hadn’t been touched between 2011 and 2017.

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🤑 Hamster Kombat (HMSTR) to list on Bitget Spot at Launch Date

🐹 The upcoming listing of Hamster Kombat (HMSTR) on Bitget has sparked widespread interest in the crypto space as it stands as one of the most anticipated projects on TON ecosystem. Scheduled for September 26, 2024, this listing is part of a broader trend that has seen a surge in demand for TON-based tap-to-earn projects, which blend gaming with crypto investment opportunities.

Hamster Kombat has quickly become one of the most talked-about projects in the tap-to-earn space, with its unique gameplay that tasks players with managing a crypto exchange in a fictional hamster universe. The game’s ability to combine interactive fun with real-world crypto trading strategies has made it a standout project, attracting attention from both the gaming and investment communities.

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🪙 Bitcoin Miners Face Leanest Month of 2024: August Earnings Hit Year’s Low

💵 Bitcoin miners faced their most challenging revenue month of the year in August, marking the lowest earnings since September 2023. Onchain fees collected in August also dipped, reaching a low not seen since last year, with a $4.14 million drop compared to July.

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🪙 Bitcoin price keeps falling under $60K — Here is why

💙 Many analysts say a drop in spot Bitcoin ETF demand is the primary reason for BTC’s price weakness, but there’s more to it than that.

💥 Bitcoin has struggled to maintain above $60,000 for an entire week, with the latest rejection occurring in Aug. 27. The subsequent 9.9% two-day correction, which saw Bitcoin fall to a low of $57,918 on Aug. 28, resulted in the forced liquidation of $143 million in leveraged BTC longs on derivatives exchanges. Traders are now questioning why Bitcoin keeps failing to break above $60,000.

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💎 Top TON Coins Face Turbulent Week Amid Durov Arrest and Network Disruptions

🪙 Over the past week, The Open Network (TON) ecosystem has encountered a series of setbacks due to a wave of unfavorable news. The turbulence began with the arrest of Telegram founder Pavel Durov, followed by two significant outages on the blockchain network that brought block production to a standstill. Altogether, in just 68 days, the top ten coins within the TON ecosystem have collectively shed $5.13 billion in value.

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🪙 800 ETH Transferred: Vitalik Buterin’s Latest Wallet Activity Draws Attention

😎 Onchain data reveals that Ethereum co-founder Vitalik Buterin recently shifted 800 ether, valued at just over $2 million, from a well-known address. After the initial transfer, 190 ether was reportedly exchanged for 477,000 USDC.

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💰 Binance Research Report: Blockchain Could Transform Cross-Border Transactions

🍾 Blockchain technology is set to transform the payments industry by tackling persistent issues in cross-border transactions. A detailed report by Binance Research suggests that incorporating blockchain into payment systems could substantially lower costs and speed up settlements, offering a new direction for global payments infrastructure.

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🐶 Elon Musk wins dismissal of lawsuit claiming he rigged Dogecoin and conducted insider trading 📈

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🪙 Bitcoin's Latest Difficulty Rise Challenges Miners Already Facing Revenue Slump

🔗 On Aug. 28, Bitcoin’s mining difficulty bumped up by 2.99% at block height 858,816, pushing the metric from 86.87 trillion to a hefty 89.47 trillion. This tweak adds a bit more challenge for bitcoin miners, especially with hashprice values lingering at very low levels.

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🤑 Hamster Kombat's TGE and AirDrop will take place September 26th! 🐹👀

It's probably nothing 💪

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📈 Coinbase CEO Brian Armstrong Predicts Payments Will Be Crypto's Next Big Boom

🥸 Coinbase CEO Brian Armstrong reflects on the past decade of the cryptocurrency industry, highlighting his initial expectation that payments would be the primary application for crypto. Instead, trading became the dominant force. Looking ahead, Armstrong remains optimistic about the future of crypto payments, citing advancements in stablecoins, layer two technologies, and simpler onboarding processes as key factors that could drive growth in the next decade.

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