This Week in Crypto: Telegram Airdrops, Grayscale Picks, and the Ripple-SEC Drama Returns

This week in crypto, we've got some juicy updates you won't want to miss. This includes Telegram's hottest airdrops to Grayscale's picks for the top altcoins and the latest drama in the US Securities and Exchange Commission's (SEC) showdown with Ripple.

This week in crypto, Telegram airdrops are heating up, while Grayscale unveils its top 20 crypto picks and the SEC's drama with Ripple continues. Here's a closer look at these stories and more.

As October begins, several key Telegram airdrops are generating excitement among digital asset enthusiasts. These airdrops offer opportunities to engage with emerging blockchain projects without making an upfront financial investment.

MemeFi, a leading Telegram-based game, will be airdropping tokens on October 9. To participate, users must battle meme-themed characters to earn cryptocurrency rewards. Various tasks will be assigned, and those who complete them will be eligible to claim airdrops post token generation event. MemeFi will allocate 90% of its tokens to users, a significant increase compared to its competitors.

Next on the list is X Empire, which will be airdropping tokens on October 15. This game emphasizes active participation and network engagement, promising substantial returns for diligent players. X Empire merges the thrill of earning with the excitement of crypto gaming.

Finally, TapSwap will be conducting an airdrop in mid-to-late October. This project stands out with its straightforward earning mechanics, making it accessible to all crypto enthusiasts. Users will be rewarded for daily engagements, and there will be additional bonuses for those who financially support the project. Despite experiencing some launch delays, TapSwap's potential valuation and token prospects have kept the community engaged.

While several Telegram airdrops are creating buzz, another highly anticipated airdrop, Hamster Kombat (HMSTR), has left many in the crypto community disappointed.

The HMSTR airdrop had a last-minute anti-cheat system implementation, which disqualified many loyal players and benefited a few over the many. This move sparked significant backlash from the community.

“Hamster Kombat has cheated the community. They have allocated a large portion of airdrops to YouTubers and influencers for referrals. They’ve implemented vesting without informing the community. They’ve made people work like labor, day and night to collect keys from their games and gave $5 or $10 tokens,” Crypto with Khan, a prominent crypto influencer commented.

Moreover, the airdrop was plagued by frequent postponements and abrupt rule changes, eroding trust and patience among participants. Additionally, an unexpected decision to withhold 11.25% of the tokens until next year further fueled dissatisfaction.

As a result, the HMSTR token’s value plummeted shortly after launch, with prices dropping over 60%. This decline was a major blow to investors' confidence and financial outcomes.

Grayscale, a leading digital currency asset manager, has updated its investment strategy, identifying 20 cryptocurrencies that show promise for significant gains. This selection includes exciting additions like Sui (SUI) and Bittensor (TAO), which align with current market trends towards decentralized AI.

Grayscale's strategy involves a meticulous analysis of potential market leaders based on diverse factors from network growth to token economics. This comprehensive approach ensures that the investment firm remains at the forefront of market dynamics, ready to capitalize on emerging opportunities.

“The Top 20 represents a diversified set of assets across Crypto Sectors that, in our view, have high potential over the coming quarter. Our approach incorporates a range of factors, including network growth/adoption, upcoming catalysts, sustainability of fundamentals, token valuation, token supply inflation, and potential tail risks,” Grayscale said.

Grayscale's Top 20 Crypto, Q4 2023Grayscale, the world’s largest bitcoin, and cryptocurrency asset manager has announced its top 20 crypto picks for Q4 2023. This selection includes promising new additions like Sui (SUI) and Bittensor (TAO), reflecting current market trends towards decentralized AI.

Grayscale's investment strategy involves a deep analysis of potential market leaders, considering various factors such as network growth, token economics, and market capitalization. This comprehensive approach ensures that the investment firm remains at the forefront of market dynamics, ready to capitalize on emerging opportunities.

The SEC has resumed its legal challenge against Ripple, appealing a recent court decision that favored XRP.

The ongoing legal battle could significantly affect the classification and regulation of XRP as a non-security. Ripple's CEO has voiced frustration over the SEC's actions, emphasizing the unnecessary strain this puts on the firm and its stakeholders.

“While we’ll fight in court for as long as we need, let’s be clear: XRP’s status as a non-security is the law of the land today – and that does not change even in the face of this misguided – and infuriating – appeal,” Garlinghouse stated.

This development has stirred the market, impacting XRP's price. As a result, XRP's price-action struggled during this week. Since Monday, the XRP price has been down by over 17%.

Binance is poised to potentially delist five altcoins, reflecting its rigorous compliance and