Meme coins have become a unique and increasingly influential category in the cryptocurrency ecosystem. We will analyze how meme coins are reshaping the way people interact with cryptocurrencies, while also examining the challenges and risks associated with investing in these speculative assets.

According to Coinglass data, the cryptocurrency market had a total liquidation of $1.97 in the past hour, including a liquidation of $189 million for long orders and $8.04 million for short orders. The total liquidation amount of BTC was $28.304 million, and the total liquidation amount of ETH was $37.1899 million.

Kelp DAO, the Ethereum liquidity re-staking platform, announced the economic details of the KERNEL token, of which 55% will be allocated to community rewards and airdrops (20% for airdrops and 35% for future community rewards), 5% to the ecosystem and partners, 20% for private sales, and 20% to the team and advisors (the team and private sales tokens have a 6-month lock-up period and will be unlocked within 24 months).

As part of the agreement, the country will make merchant acceptance of Bitcoin payments voluntary while gradually reducing the government’s involvement in Bitcoin-related projects, including phasing out management of state-backed wallet app Chivo.

A federal court in California ruled that Coinbase could delist wBTC (Wrapped Bitcoin), rejecting a request for a temporary injunction filed by BiT Global, a company associated with Justin Sun. The court found that BiT Global’s claim lacked basis and supported Coinbase’s right to decide the platform’s asset list.

According to the official announcement of Ink, Kraken L2 network Ink has officially launched the mainnet, several months ahead of schedule. Ink has become part of the Optimism superchain, aiming to further narrow the distance between users and DeFi developers by providing bridge tools.

The VIX index once rose by 78.0% during the day, and blockchain concept stocks all fell sharply. The Dow Jones and S&P 500 recorded their largest single-day declines since early August.

The Federal Reserve cut interest rates by 25 basis points as expected, lowering the target range for the federal funds rate to 4.25%-4.5%.

The Trump family crypto project World Liberty Financial (WLFI) and Ethena Labs announced that they are pursuing a “long-term collaboration” that will begin with the implementation of Ethena’s yield token sUSDe.

Layer1 blockchain project Sonic Labs (formerly Fantom) announced that its mainnet has been officially launched. According to reports, this is a high-throughput, EVM-compatible Layer1 blockchain platform that provides incentives and infrastructure for developers. Sonic can process up to 10,000 transactions per second, sub-second finality, and a native decentralized gateway to Ethereum. FTM holders can now use our upgrade portal to upgrade their tokens to S on Sonic at a 1:1 ratio and unlock access to various Sonic applications.

Avara, the developer of the Aave protocol, announced the completion of a $31 million round of financing led by Lightspeed Faction. With Lens, Avara is building a decentralized protocol that provides infrastructure for social and consumer applications.