This week brought exciting updates in the cryptocurrency space: Binance Launchpool launched HMSTR and CATI, Ripple’s RLUSD may be limited to institutional investors, and important legal developments involving Ripple and the SEC. In addition, a compelling debate between presidential candidates on crypto policy and updates from gaming platform Snek.fun provided a broader perspective on the current market environment.
Binance Launchpool adds two new projects: Hamster Kombat and Catizen
Binance’s Launchpool platform welcomes Hamster Kombat (HMSTR) and Catizen (CATI), providing new staking opportunities for users. On September 12, Binance announced that Hamster Kombat became its 58th Launchpool project.
This click-to-earn game based on the Telegram applet allows players to simulate the CEO of a crypto exchange to participate in the battle. The total supply is 100 billion HMSTR, of which 3% is allocated as Launchpool rewards. Users can stake BNB and FDUSD from September 23 and receive HMSTR airdrops within 3 days. Binance will launch HMSTR on September 26 and open multiple trading pairs.
Soon after, on September 13, Binance announced Catizen as the 59th project. Catizen is a cat-themed game based on the Telegram applet, with more than 34 million players and 2 million active users, and a paying user base of 800,000. The total amount of Catizen tokens is 1 billion CATI, and 9% is allocated to Launchpool rewards. Users can stake BNB and FDUSD from September 16, receive CATI airdrops within four days, and go online for trading on September 20.
3 Highly Anticipated Airdrops and TGEs in the TON Ecosystem
The Open Network (TON) has attracted attention for its airdrop plan. TON will hold multiple token generation events (TGEs) and airdrops in September this year.
First, one of TON’s key projects, Catizen, will be listed on major exchanges such as OKX, Kucoin, Bybit, and Gate.io starting September 20. Since its launch six months ago, Catizen has attracted 34 million players, including more than 2 million active participants on the chain, 800,000 paying users, and an average revenue of $33 per paying user.
Next up is Hamster Kombat, another project to watch, which will hold a TGE and airdrop on September 26. Bitfinex, Bybit, and OKX will list the HMSTR token. However, the community has expressed concerns about the unclear airdrop criteria.
“The community is eager to engage, but the constant introduction of new games and features is causing confusion and overwhelm,” said one X user.
The CATS project also plans to conduct a TGE and airdrop this month, but the specific date has not yet been determined. With more than 20 million users, CATS aims to reward Telegram users based on account age and activity, and all Telegram users are eligible to participate. A dedicated robot will evaluate user statistics to determine token distribution, and additional tokens can be earned through a referral system and small tasks.
Ripple CTO confirms RLUSD may only be for institutional investors
On September 8, Ripple CTO David Schwartz confirmed that the upcoming RLUSD stablecoin will most likely be available only to institutional investors. In response to a user on social media suggesting that RLUSD be restricted to large financial institutions, Schwartz said this would help prevent illegal activities such as money laundering. He also compared RLUSD to USDC and USDT, noting that individual investors are generally unable to purchase these stablecoins directly from the issuer, saying: "It will probably only be available to institutions. Can you buy USDC directly from Circle? I can't."
Additionally, the SEC dropped charges against Ripple executives Brad Garlinghouse and Chris Larsen, sparking rumors of an appeal. Ripple proposed to deposit 111% of the financial judgment into a bank account to ensure the case is suspended. Former SEC regional director Marc Fagel analyzed the potential appeal and pointed out that the key is whether Ripple's programmatic sales constitute securities sales, not whether XRP is a security. In addition, legal expert Bill Morgan assured XRP holders that despite possible legal changes, the core judgment that XRP is not a security should remain unchanged.
Cardano Network Activity Surges on Snek.fun Meme Coin Platform
Cardano founder Charles Hoskinson recently praised the meme coin issuance platform Snek.fun for significantly increasing the activity of the Cardano network. On September 6, Snek.fun announced that Cardano’s daily trading volume hit a record high, breaking the blockchain’s highest trading record for decentralized exchanges (DEX) in 24 hours.
Snek.fun, launched on September 5, was developed by SNEK and Cardano DEX Splash and allows users to create tokens with a fee of 25 ADA. The platform’s bonding curve mechanism stipulates that when 75% of the token supply is purchased and the market value reaches 42,069 ADA, 25% of the supply will be automatically added to the Splash DEX liquidity pool and LP tokens will be destroyed to prevent the withdrawal of liquidity.
Despite initial challenges with high demand and network congestion, Snek.fun quickly optimized, with over 2,000 tokens created and trading volume exceeding 5 million ADA on the first day of launch.
However, despite the strong performance, some analysts have expressed concerns about its long-term viability, suggesting the platform introduce features such as creator royalties and a messaging system to ensure continued growth.
Presidential Debate Omits Crypto Discussion, Impacts PolitiFi Token
This week also saw the first presidential debate between Vice President Kamala Harris and former President Donald Trump. Despite the growing anticipation for the debate, many crypto enthusiasts were disappointed when it ended without appearing to mention cryptocurrencies. Instead, the debate focused on topics such as the economy, immigration, and foreign policy.
However, the lack of discussion around cryptocurrencies had an immediate impact on the market. After the debate, the cryptocurrency market reacted strongly, especially affecting politically related meme coins — namely PolitiFi.
BeInCrypto reported that after the debate, the total market value of PolitiFi meme coins fell by 8.7%. In addition, some Trump-related meme coins also suffered sharp declines. For example, MAGA (TRUMP) fell by 10%, while MAGA Hat (MAGA) plummeted by 22.5%.
Conversely, Kamala Harris-related meme coin Kamala Harris (KAMA) surged 7.3%.
That’s all for today’s article. We are currently in a bull market, and things are turbulent. We share passwords every day.
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