🐻Weekly Recap: Bears In The Driver’s Seat

Happy weekend Defiers!

Crypto markets continue to trend downwards after the Federal Reserve foreshadowed one final rate hike for the year. While the U.S. central bank decided to keep rates steady for now, Fed officials target an interest rate increase to 5.6% before 2024.

Ethereum’s new testnet, Holesky, is on-track to launch this coming week after a client misconfigured resulted in a failed deployment on Sept. 15. Holesky will replace the outgoing Goerli testnet, with developers carefully considering how Holesky can avoid the widespread testnet ETH shortage that plagued Goerli in recent years.