Hamster Kombat TGE & Airdrop, and more

The crypto market has been busy this week with a series of big events. These include Telegram's CEO facing legal challenges in France, Toon Block's technical disruption, and scheduling the long-awaited Hamster Kombat Token Generation Event (TGE).

These developments have attracted the attention of crypto investors and traders.

The threat of centralization of Bitcoin amid the strengthening of mining power

Bitcoin's centralization has become increasingly widespread, with fears that it could undermine the principles that revolutionized the crypto community. According to data from BTC.com, two mining pools, Foundry USA and AntPool, now control roughly 57% of Bitcoin's total network hashrate. This concentration of power is alarming, as it could lead to potential censorship and a shift away from Bitcoin's decentralized ethos.

Foundry USA, owned by Digital Currency Group, aligns with American interests, while Antpool, operated by China's Bitmain Technologies, represents China's influence. This geopolitical division has sparked debates about the future of Bitcoin, especially as the competition between these mining giants intensifies.

Read more: Liquid Bitcoin Hashrate Protocol: Guide to Mining Bitcoin with NFTs

Bitcoin mining pools allow individual miners to pool their computing power. However, the growing dominance of a few large pools raises concerns about the centralization of mining power and its implications for Bitcoin's decentralization.

Tokenized Real-World Assets Market Exceeds $10 Billion

The real world assets (RWAs) market has grown to a size of over $10.9 billion. Driven by strong personal loan demand and growth in U.S. Treasury debt, it represents a $2 billion increase since the start of the year.

The guaranteed U.S. Treasury market has shown strong growth. Its total value has increased from $726.23 million to $2.07 billion by 2024.

Tokenized RWAs offer benefits such as higher liquidity, easier asset transfers and improved regulatory compliance with smart contracts. But the sector faces challenges that include verifying token legitimacy, legal admissibility in courts, and validating smart contracts. Addressing these challenges is essential to achieving widespread adoption of tokenized RWAs.

Viral Telegram game Hamster Kombat's TGE set for September 26

Hamster Kombat, a tap-to-find game on Telegram, has announced that its Token Generation Event (TGE) and airdrop will take place on September 26. One of the biggest in crypto history, this airdrop accounts for 60% of the volume. For players, the rest will be used to improve market size and develop the game's ecosystem.

The launch was originally planned for July but was postponed due to operational issues. The Hamster Kombat team has since worked closely with Ton Ecosystem to create a curated event.

Major exchanges such as Bitget, Bybit, Gate.io and KuCoin listed the HMSTR token for pre-market trading, which generated a lot of demand ahead of the TGE.

Additionally, the development team plans to launch Hamster Kombat Season 2. At this stage, they aim to introduce new features to engage players and attract new users.

“This will begin Hamster Kombat's transition from game to game platform, similar to how Valve moved from launching cult-status games to Steam, the largest gaming marketplace for PCs,” the team shared with BeInCrypto via email.

A small post-Pavel Durov release with Tonkoin experience

Telegram CEO Pavel Durov was released from prison on August 28 after four days in France. Durov is under judicial custody, ordered to post a 5 million euro (approximately $5.50 million) bond and is prohibited from leaving the country.

French authorities arrested Durov on August 24 at Lebourg airport near Paris on multiple charges, BeinCrypto reported. These charges include facilitating drug trafficking, organized fraud and distribution of pornography involving minors. They also cited his refusal to cooperate with law enforcement by withholding critical information necessary for legal investigations.

Since its release, Toncoin, native to the Open Network (TON) blockchain, which is closely linked to Telegram, has seen a significant price increase. The token price rose 8.3% in 20 minutes.

Ton Blockchain has faced technical challenges amid network outages.

The TON blockchain experienced major technical challenges this week, leading to several outages. In the year On August 27, the network stopped producing blocks for about seven hours, and resumed normal operations the next day. However, another disruption occurred, causing further delays.

These outages were caused by the high volume of transactions associated with the newly launched DOGS meme coin. The TON Blockchain team assures users that their assets are not at risk and is working on solutions to prevent future outages.

According to Tonscan data, the Ton block chain continues its normal operation at the time of writing. Although resolved, the outage has raised concerns about the network's ability to handle high volumes of traffic.

DOGS Meme coin will face market volatility post-TGE

The DOGS meme coin was launched on Telegram and saw an impressive 25% discount shortly after listing on major exchanges. This drastic decline has led to mixed reactions among climate change recipients, with some celebrating their free tokens while others lamenting the price of the listing.

Despite this volatility, DOGS holds a market capitalization of over $614 million, confirming its place among the top 100 crypto assets. Meme Coin currently runs on the TON blockchain. It provides utility within the Telegram ecosystem, rewarding long-standing and active users based on their age and activity.

Read more: 7 Hot Meme Coins and Altcoins Trending in 2024

Looking ahead, the DOGS team plans to introduce additional features that will help stabilize the coin's value and expand its services in the Telegram ecosystem.