Season 2 of Magic Eden's ME Token Rewards Campaign Rewards Users Based on Staking Power and Trading Volume

The phenomenon of "Red September" in the crypto market is driven by historical patterns, tax-loss harvesting, and portfolio rebalancing. Market behaviors converge each fall, triggering sell-offs and increased volatility. Despite the negative sentiment, some believe Bitcoin's fundamentals are stronger than ever.

Tron's community voted to reduce network fees by 60%, a move that will benefit users and potentially increase profitability in the long run. The blockchain, known for its popularity with stablecoin users, saw transaction costs rise recently before the fee cut took effect.

There are 92 applications for cryptocurrency exchange-traded funds awaiting approval by the U.S. Securities and Exchange Commission, including popular altcoins like XRP and Solana. The SEC faces a final deadline for at least a dozen applications in October, with experts expecting approvals.

Strategy, known for shifting to Bitcoin accumulation, faced a class-action lawsuit for allegedly misleading investors about its profitability due to new crypto accounting practices. This week, plaintiffs voluntarily dismissed their claims with prejudice.

Eric Trump, speaking at the Bitcoin Asia conference, praised Bitcoin for bridging socioeconomic gaps in finance. He highlighted the disparity in the traditional financial system favoring the wealthy and emphasized Bitcoin's accessibility to all individuals globally.

Bitcoin fell below $109,000, dragging down other cryptocurrencies, as stocks dipped due to new inflation data. Ethereum also dropped, erasing recent gains and falling 6% to nearly $4,295. The crypto market saw $446 million in long positions liquidated in the past 24 hours.

Canaccord Genuity's research report highlighted IREN's rapid progress in Bitcoin mining and AI infrastructure, with a 60% price target increase to $37. The company's mining unit achieved over $1 billion in annualized revenue, with efficient operations costing $36,000 per Bitcoin.

The crypto industry is surpassing 2021's fundraising record, with over $16 billion raised this year. Pantera Capital's report predicts a record-breaking year fueled by M&A and IPO activities, indicating industry maturation and new entrants' comfort in investing.

Pudgy Penguins and Mythical Games have launched Pudgy Party, a mobile game with a Web3 twist, integrating blockchain technology for in-game assets and NFTs. The game aims to attract millions of players through seasonal events and a seamless onboarding process into Web3 gaming.

Ethereum's price dipped below $4,400 after reaching a new all-time high, now down 11% from the peak. Despite the recent decline, ETH remains up 16.6% over the past month and 73.2% over the past three months.