Most relevant in the cryptocurrency sphere this week

1. A serious failure was recorded in the middle of the week in the TON network. The high network load prevented the production of transaction blocks for several hours. Operations in the blockchain were restored on the morning of August 28. From that moment, users began to withdraw the DOGS cryptocurrency coins launched in the network to non-exchange wallets. However, in the evening of the same day, a second failure occurred. After the restoration of the network, the DOGS rate began to grow. In 24 hours, the token price increased by 20%.
2. Former BitMEX CEO Arthur Hayes compared the consequences of the Fed’s interest rate cut for the American economy to the effect of a “sugar rush”, which can provoke a ripple effect and short-term market growth. According to the crypto enthusiast, the change in the regulator’s policy will have a serious impact on the dollar and the digital asset market. Hayes suggested that the interest of speculative investors in cryptocurrencies may increase. “The Fed is reaching for the rate cut sugar high before hunger arrives. From a purely economic perspective, the Fed should be raising, not cutting, rates,” Hayes noted.
3. Nasdaq is seeking SEC approval to launch options trading on the BTC index. The company is ready to offer institutional and private investors new tools for hedging risks on bitcoin. Nasdaq Vice President Greg Ferrari said that such a collaboration would combine “the innovative crypto landscape with the resiliency and reliability of traditional securities markets and would mark a significant milestone for expanding the maturation of the digital assets market.”
4. Bitfinex concluded that against the backdrop of the recent decline in the cryptocurrency market, traders are again interested in risky assets. Analysts also pointed out that the market decline provoked a significant volume of liquidations of margin positions. “The rally occurred amidst a backdrop of increasing positive correlation between Bitcoin and US equities. Friday’s price surge also saw a sharp increase in correlation, which we believe indicates a return of risk appetite to the market,” the company said in its report.