NFT Trading on TON, Binance Delists Altcoins, GOAT Hits New Highs
The crypto market has been buzzing with major developments this week, from surging NFT trading activity on the TON network to Binance delisting altcoins and GOAT tokens hitting record highs.
TON Network Sees 400% Spike in NFT Trading
NFT trading activity on the TON (Telegram Open Network) surged by 400% in Q3 2024, according to Helika’s Web3 Gaming Report. Daily active trading wallets on TON rose from fewer than 200,000 in July to over 1 million by September. The report also notes that 9 prominent games on Telegram attracted over 3 million active wallets last month, with European users comprising 57.7% of the player base and 20.6% coming from Asia.
Additionally, the popular tap-to-earn game Hamster Kombat announced its second-season roadmap, slated for release in November, which will introduce NFTs as in-game assets, further fueling interest in TON-based gaming.
Binance Delists Altcoins, Spot Volume Declines
Binance made headlines by delisting four altcoins, leading to sharp declines in their market value. This decision comes amid a broader trend of Binance’s diminishing spot market dominance. Data from 0XScope shows that Binance’s share of spot trading volume has fallen from 52.5% in October 2023 to 39.5% today, as competitors like Bybit and OKX continue to capture market share.
GOAT Tokens Reach New Highs Through AI-Driven Hype
The GOAT token, linked to the AI-powered X account Terminal of Truths, skyrocketed past $1.3 million in wallet value, peaking above $0.7 before pulling back to $0.67. The AI account autonomously promotes the meme coin, raising both intrigue and skepticism within the community. Notably, the involvement of tech investor Marc Andreessen and Binance's decision to list GOAT contributed to the coin’s meteoric rise.
While the bot's autonomous nature was briefly questioned after a spelling mistake hinted at potential human intervention, the hype surrounding GOAT remains strong. Meme coins promoted by AI bots are emerging as a novel trend, blending automation with viral crypto movements.
Bitcoin Criticism and Putin’s Digital Asset Plans
An ECB economic report criticized Bitcoin’s recent price surge, fueling further debate on cryptocurrency regulation. Meanwhile, Russian President Vladimir Putin announced an ambitious plan to integrate digital assets into the BRICS payment system, aiming to streamline cross-border transactions and reduce dependence on traditional financial systems.
This week’s developments underscore the dynamic nature of the crypto world, where NFT innovations, exchange challenges, AI-driven trends, and geopolitical initiatives converge to reshape the landscape.
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