Analyses

Daily News Summary 28/8

August 28, 2024 Tóth Balázs
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TON Blockchain Down

According to Tonscan on-chain data, The Open Network (TON) was unable to process transactions for over seven hours. The disruption was attributed to abnormal network load caused by the distribution of DOGS tokens, leading to network congestion and a loss of consensus. In response to the outage, Binance and Bybit temporarily suspended deposits and withdrawals on the network. However, the TON blockchain has since recovered and is once again producing blocks normally.

Sony Launches Testnet for Soneium Network

Sony, the world’s largest media conglomerate, is launching its first test network through its blockchain division, Sony Block Solutions Labs, on the Soneium network. Soneium is an Ethereum layer 2 network built on the Optimism tech stack, offering a cost-effective development environment for consumer-level applications. In the future, the ASTR token will be integrated as a key asset within their EVM-compatible Minato test network.

BNB Chain Bridge Launched

Binance’s blockchain network, BNB Chain, has launched the BNB Chain Bridge platform in collaboration with three cross-chain technology providers: Celer, deBridge, and Stargate. The bridge aims to enhance cross-chain interoperability and liquidity within the BNB Chain ecosystem, while also attracting more DeFi projects to the network.

AVAX and LINK Now Available in Hong Kong

Hong Kong’s HashKey Exchange has announced it has received approval to list AVAX and LINK crypto assets for retail customers. Previously, only BTC and ETH trading was allowed for non-institutional clients in Hong Kong. Trading for the AVAX/USD and LINK/USD pairs began on Wednesday morning.

SEC Targets NFTs

The U.S. Securities and Exchange Commission (SEC) has issued a Wells Notice to the OpenSea NFT marketplace, signaling that the agency may initiate enforcement action against it. The SEC contends that NFTs on OpenSea are securities, a classification that the platform disputes, arguing that NFTs are artistic creations, collectibles, video game items, domain names, event tickets, and more. In response, OpenSea has offered $5 million to help cover the legal costs of NFT creators and developers who receive Wells Notices.
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