Market Moves: Hamster Token Listing, Caroline Ellison’s Sentence, and Ethereum’s Resurgence
“Should Have Bought” is a news podcast by the ForkLog editorial team, covering the week’s main industry events and the hottest tokens.
Topics: sentencing of Alameda Research’s CEO, HMSTR on major exchanges, Ethereum outpacing Bitcoin, venture capital returning to the crypto industry.
Special guest: CEO of VC studio ReWolt, Alfred Khamzin.
Participants: ForkLog authors Lena Jess and Alex K.
Hamster Kombat Listing
On September 26 at 15:00 Kyiv/Moscow time, the Hamster Kombat gaming project team began distributing the HMSTR token among 131 million users. Simultaneously, major cryptocurrency exchanges, including Binance, OKX, and Bybit, launched spot trading for the coin.
Initially, HMSTR’s price surpassed the $0.01 mark. It then significantly corrected, stabilizing around $0.0067.
Following the listing, the TON network processed over 1 million transactions per hour; Wallet and Tonkeeper experienced issues.
Shortly before the airdrop, the Hamster Kombat team unveiled plans for the project’s development in the coming months, promising new games, NFTs, and token burns.
ForkLog hosted a stream dedicated to the new phase of the most popular Telegram clicker’s development.
Is Ethereum Outshining Bitcoin?
Recently, on-chain activity in the second-largest cryptocurrency network by market capitalization has been growing steadily, pushing up both its price and transaction fees.
The recovery in transaction value on the blockchain of the second-largest cryptocurrency by market capitalization has also led to an increase in the rate of coin burning, slightly reducing Ether’s inflation.
Over the past seven days, Ethereum has slightly outpaced digital gold in growth rates. The price of ETH surpassed the $2700 level, matching August figures.
Ruslan Lienkha, a top manager at the YouHodler exchange, emphasized that the current situation indicates prevailing bullish sentiment. However, he noted the risks of a potential correction in the event of excessive optimism or changes in external factors.
Caroline Ellison’s Sentence
Former Alameda Research head Caroline Ellison received a two-year prison sentence and forfeiture of $11 billion on charges of fraud and money laundering. Her active cooperation in the investigation of Sam Bankman-Fried’s case mitigated the verdict.
The judge emphasized that the collapse of FTX is one of the largest financial crimes, and Ellison’s cooperation does not absolve her of responsibility. She admitted her guilt and apologized to the victims.
Following the sentencing of the former Alameda head, other figures, including FTX co-founder and CTO Gary Wang and head of engineering Nishad Singh, now await court decisions.
The Return of Venture Capital
In August, cryptocurrency venture companies raised over $2.2 billion. Leading the segment are ParaFi Capital with $120 million, Borderless Capital with $100 million, and Hack VC with $77 million.
Many firms, including Dragonfly Capital, are actively seeking capital, indicating optimism in a “challenging market.”
Alvar Gracia, a partner at Borderless Capital, noted the resilience of the DePIN sector to bearish trends and its significant potential to transform Web2 industries.
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