Cryptocurrency Market Experiences Another Eventful Day

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Elections, charts, altcoin announcements, and much more. Another accelerated day in crypto is behind us. At the time of writing, there was little time left until the US market closed, and BTC was lingering at $56,420. Altcoins turned red again as BTC hit a new daily low at $55,817.

Summary of the Day in Cryptocurrencies

Just before the US markets opened, we wrote that what we’ve experienced in the past few weeks could repeat. American investors usually see further declines in cryptocurrencies as they start their day. However, many times the direction had been upward before the market opened. Today, we experienced the same thing again. BTC fell to $55,817 despite good employment and PMI data.

EigenLayer Token Distribution Plan

86 million EIGEN Tokens, representing 5% of the token supply, will be distributed. Stakers, node operators, ecosystem partners, and other community members active between March 15 and August 15 will be rewarded. Around 10 million tokens are allocated to other participants contributing to the ecosystem, such as AVS and liquid restaking protocols. They can claim them starting September 17.

Worldcoin Aims for Rapid Growth

At the Korea Blockchain Week, Alex Blania announced they have 6.5 million verified users in 160 different countries. He emphasized their goal of rapid growth with Facebook-like scaling. He also hinted at exciting updates to be announced soon.

OpenAI CEO Sam Altman’s WLD Coin project aims to identify real users in the new AI-powered internet era, as previously stated by Sam. Of course, it should be noted that this is the project founder’s wish.

Traveling with Cryptocurrencies

Travala, a vacation and reservation platform offering crypto payment options, has been mentioned many times. Today, they announced a partnership with the popular travel platform Skyscanner. This will allow payments with over 100 cryptocurrencies, including Travala’s native token. Skyscanner has 110 million users and offers reservations at 2.2 million hotels in 230 countries.

Other Important Developments of the Day

• Trump widened his lead over Kamala Harris by 7 points on Polymarket. However, national polls show Harris with 47%-48% support.
• The US Department of Commerce announced it targets China with chip-related restrictions.
• Floki and OG Esports partnered for the Valhalla Metaverse game.
• US Presidential Candidate Donald Trump stated they will embrace future industries, including making America the world capital of crypto and Bitcoin.
• Kamala Harris’s campaign denied accepting direct crypto donations despite allegations, confirming only one PAC accepts crypto donations indirectly.
• Coinbase announced the launch of futures for Immutable (IMX) and Flow (FLOW).
• According to The Information, OpenAI may increase subscription fees to $2,000 per month.
• US services and composite PMI data exceeded expectations.
• Google searches for Bitcoin hit a low not seen since 2023.
• US ADP data came in extremely low, and layoffs hit a five-month high.
• Hackers posing as famous journalist Hasan Cemal tried to lure victims by claiming “Erdoğan is distributing Bitcoin,” but no one sent BTC to the shared address.
• Bybit listed the Polygon Ecosystem Token (POL) in futures trading.
• Upbit exchange announced it would list Big Time (BIGTIME).

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