Weekly Recap: Fed Rate Cut and Hamster Kombat Season Finale

The Federal Reserve has lowered interest rates for the first time since March 2020, Belarus has banned individuals from cryptocurrency transactions outside the High-Tech Park, Binance has launched the Telegram game Moonbix, and the first season of Hamster Kombat has concluded, among other events of the past week.

Bitcoin Price Surpasses $63,000

The leading cryptocurrency began the week at $60,000. On Tuesday, September 17, digital gold tested the $61,000 mark. By Thursday, September 19, the asset had exceeded $63,000.

At the time of writing, Bitcoin is trading at $63,000.

Most digital assets in the top 10 by market capitalization ended the week in the “green zone.” The exception was Toncoin (-0.5%).

The total cryptocurrency market capitalization stands at $2.3 trillion. Bitcoin’s dominance index is 57.8%.

Fed Lowers Rates for the First Time Since March 2020

On September 18, the U.S. Federal Reserve reduced the key rate range to 4.75–5% per annum. This marks the first reduction since March 2020.

The decision aligned with market expectations.

“Recent indicators suggest that economic activity continues to expand at a solid pace. Job growth has slowed, and the unemployment rate has increased but remains low,” the press release states.

The Fed reaffirmed its previous goals: maximum employment and 2% inflation in the long term. The regulator believes the indicator is “steadily moving” in this direction.

Belarus Bans Individuals from Cryptocurrency Transactions Outside High-Tech Park

On September 17, Belarusian President Alexander Lukashenko signed a decree “On the Circulation of Digital Tokens.” It prohibits individuals and individual entrepreneurs who are residents of the High-Tech Park from buying and selling cryptocurrencies outside Belarusian exchanges and exchangers.

The document has already come into force. Similar restrictions for legal entities have been in place since 2017.

The authorities explained this decision as a desire to protect citizens in cryptocurrency transactions and to eliminate the possibility of using such assets for fraud and other illegal activities.

“This will contribute to the development of transparent and controlled circulation of digital tokens and prevent the withdrawal of funds stolen from citizens’ bank accounts by exchanging them for cryptocurrency on foreign platforms,” the decree’s explanation states.

The penalty for violating the new rules has not yet been determined. The Council of Ministers will propose measures for administrative responsibility by June 1, 2025.

Currently, eight bitcoin exchanges and two exchangers are registered in the High-Tech Park.

Topics to Discuss with Friends

• Trump paid for burgers with Bitcoin.
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• A “dormant” address for 15 years moved bitcoins worth $16 million.

Binance Launches Telegram Game Moonbix

Cryptocurrency exchange Binance has launched its own mini-game on the Telegram messenger platform called Moonbix.

The game is already available on Telegram. At the start, users receive 100 coins and six attempts. Attempts are replenished one every 10 minutes.

The gameplay resembles popular claw machines. Players must press a button at the right moment to catch yellow balls and avoid meteors. Each attempt lasts 45 seconds.

Like other Telegram games, Moonbix is distributed through a referral program. Invitees receive 1,000 coins, while inviters earn 10% of the referrals’ earnings, up to a maximum of 50,000 coins.

Although the “Terms and Conditions” page does not mention an airdrop or listing of a new token, it does refer to certain rewards.

First Season of Hamster Kombat Concludes

On September 20, the Hamster Kombat team took a snapshot of user accounts. Developers announced the end of the first season of the clicker game, unveiled the second season, and launched an interim one.

On September 17, they introduced an anti-cheat strategy, resulting in some users receiving the “Cheating is Bad” achievement and losing potential rewards.

The Hamster Kombat airdrop is scheduled for September 26. Binance, OKX, and Bybit have announced the listing of the meme token HMSTR.

Also on ForkLog:

• Bitcoin exchange BingX was hacked. Losses exceeded $43 million.
• The price of the Catizen token reached $0.94 amid listings on Binance and other exchanges.
• Vitalik Buterin highlighted the benefits of solo staking Ethereum.
• An Ethereum whale earned $131 million in two years.

Solana Unveils Seeker Crypto Smartphone

The Solana Mobile team has introduced a new version of the Web3 smartphone called Solana Seeker (formerly Chapter 2), developed in collaboration with the Solflare wallet.

Pre-orders for the device have already exceeded 140,000 in 57 countries.

Like its predecessor, the Saga, Solana Seeker is equipped with the Seed Vault wallet. The device includes the ability to create an AI agent and has optimized the Solana Mobile Dapp Store.

Each smartphone features a unique Seeker Genesis soulbound token, granting access to third-party rewards, offers, and content across the Solana ecosystem.

Until September 21, the device was priced at $450 with a discount. Afterward, it costs $500. The smartphone is expected to go on sale in mid-2025.

What Else to Read?

This week, ForkLog assessed the real impact of Bitcoin ETFs on the cryptocurrency market and explained why there is increasing censorship in the industry.

The traditional digest compiled the week’s main events in the field of cybersecurity.