VICTORIA, Seychelles–(BUSINESS WIRE)–#blockchain–KuCoin, the People’s Exchange, proudly announces the first half of 2023 (H1 2023) accomplishments, highlighting exceptional growth and innovation in the face of challenging market conditions. Despite the crypto market fluctuation, KuCoin maintained strong growth and proactively adopted regulatory requirements to enhance the user experience and trust. Key Achievements from KuCoin’s H1 2023 review: Impressive user base expansion and steady trading volume increase: KuCoin’s user base expanded by 26% YoY, reaching 29 million registered users by June 2023, led by the LATAM region. Trading volume across spot and futures markets hit $1 trillion, driven by growth in various regions. The KuCoin Trading Bot saw substantial growth, with 12 million bots created and a trading volume exceeding 5.7 billion USDT in H1 2023. Safety and Security: At KuCoin, the safety and security of users’ assets are of paramount importance. KuCoin has implemented comprehensive security measures to ensure the protection of sensitive data and user funds. This includes industry-standard encryption algorithms, multi-factor authentication for all user accounts, and the majority of client funds stored in cold wallets for enhanced security. Additionally, KuCoin has launched the largest bug bounty program in collaboration with cybersecurity company Hacken, offering $1 million in bug bounty awards, further reinforcing the platform’s commitment to maintaining a secure trading environment. Meanwhile, KuCoin is implementing Mandatory KYC, to enhance security and foster a safer trading environment for all users. Trust and Transparency: KuCoin continues to prioritize trust and transparency by publishing its Proof of Reserves (PoR) data. As one of the first major global crypto exchanges to do so, KuCoin regularly updates its PoR information, assuring users that their funds are fully backed. The latest snapshot from June 30, 2023, reveals a BTC reserve ratio of 104%, ETH reserve ratio of 115%, USDT reserve ratio of 105%, and USDC reserve ratio of 114%. This data confirms KuCoin’s commitment to maintaining a high collateralization ratio, ensuring the safety and integrity of user assets. Global expansion: KuCoin welcomed over 300 new team members globally, fostering deeper engagement with the global crypto community. The exchange’s global communities and social media presence grew, with a 20% increase in user engagement and a Twitter following of 2.5 million. “In the first half of 2023, KuCoin has showcased an exceptional dedication to innovation, trust, and customer satisfaction. We prioritize outstanding customer support, successfully addressing over 300,000 user inquiries by harnessing the power of an AI-driven chatbot between January to June 2023. Trust and transparency form the bedrock of KuCoin’s values, as demonstrated by our stringent anti-fraud measures and the regular release of Proof of Reserves data, ensuring our users that their assets are securely safeguarded. Our commitment to ongoing progress is evident through the addition of 89 new assets, the remarkable expansion of the KuCoin Trading Bot, and the upcoming debut of KuCoin Learn, 6th year anniversary with product and brand upgradation, an indispensable resource for crypto enthusiasts. As we forge ahead, KuCoin remains devoted to empowering our users and fostering the growth of a flourishing crypto ecosystem for generations to come.” – Johnny Lyu, CEO of KuCoin For more details here’s our blog for our KuCoin H1 Review highlights of 2023, here. About KuCoin Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community action reach, it offers over 700 digital assets and currently provides spot trading, margin trading, P2P fiat trading, futures trading, staking, and lending to its 29 million users in 207 countries and regions. In 2022, KuCoin raised over $150 million in investments through a pre-Series B round, bringing total investments to $170 million with Round A combined, at a total valuation of $10 billion. KuCoin is currently one of the top 5 crypto exchanges according to CoinMarketCap. Forbes also named KuCoin one of the Best Crypto Exchanges in 2023. In 2022, The Ascent named KuCoin the Best Crypto App for enthusiasts. Contacts For media inquiries, please contact: [email protected]

Mike is certain that a spot Bitcoin ETF will be approved by the SEC in the near future. The CEO said that a shift in attitude at the SEC or a new administration could be required. Bitcoin, according to crypto billionaire Mike Novogratz, will experience major increases by this year-end. In a recent interview with Bloomberg, Novogratz predicted that Bitcoin’s current consolidation period, between $28,000 and $32,000, will be followed by a significant increase. According to him, this upsurge might happen if the authorities in the United States do a u-turn or flinch in response to the rising popularity of Bitcoin. Novogratz said that the price of Bitcoin did not appear to be much affected by BlackRock’s announcement of its exchange-traded fund (ETF). But he argued that this doesn’t diminish the potential of ETFs to accelerate Bitcoin’s mainstream adoption. He said that these ETF providers showcase upcoming adoption. All Eyes on SEC The CEO of Galaxy Digital is certain that a spot Bitcoin ETF will be approved by the SEC in the future, despite the SEC’s past reluctance to embrace cryptocurrencies. According to Novogratz, this would be the equivalent of the U.S. government stamping its approval on Bitcoin, proving that it has arrived as a legitimate asset class. In addition, he emphasized the significance of large sales staff, such as those at BlackRock and Invesco, in gaining new clients. Also, the SEC continues to take a “really tough” posture on cryptocurrencies, Novogratz said, and this makes the regulatory situation in the United States difficult. Moreover, he said that a shift in attitude at the SEC or a new administration could be required for significant progress to be made in crypto regulation in the United States. Regardless, he has an optimistic stance on Bitcoin and the crypto sector as a whole, anticipating increased trading by the end of 2023. Highlighted Crypto News Today: Coinbase vs SEC Lawsuit: Court Room Hearings Begin

The price of PEPE coin has experienced a significant decline, plummeting over 60% since reaching its peak on May 5. This substantial downturn has dealt a heavy blow to optimistic investors who were aiming to capitalize on their impressive triple-digit profits from June. The latest insights from on-chain data suggest massive whale movement. In light of these developments, a pressing question arises: What lies ahead for the PEPE price, and what can be expected in the future? Trader Accumulates PEPE: A Long-Term Investment? Amidst the crypto community’s ongoing speculation, Lookonchain recently unveiled a noteworthy transaction involving trader “osf_rekt.” It appeared as though osf_rekt was making a conscious effort to maintain ownership of the assets as the user traded 141 Ethereum (ETH) for a staggering 173 billion units of the popular meme coin, PEPE. What makes this transaction even more intriguing is that it was not the first instance of osf_rekt acquiring PEPE. This pattern of behavior by the trader using a pseudonym implies, in most cases, that they have a fundamental view that the cryptocurrency has positive prospects. Considering the widespread buzz surrounding PEPE, this accumulation of tokens by osf_rekt does not come as a surprise. However, it is worth noting that PEPE has experienced a recent decline in value. Over the past seven days alone, its value has depreciated by 14.7%, with a 24-hour slump of 2.8%, ultimately placing its current price at $0.00000150, as reported by CoinGecko. Declining User Adoption And Network Growth In addition, a PEPE price report notes that the meme coin has witnessed a concerning trend of dwindling user adoption. This is evident from the data provided by Santiment, which highlights a substantial decrease in the number of new users joining the PEPE network over the course of one week. Specifically, on July 3, the chart indicates that 1,635 fresh wallet addresses were created. However, as of the time of writing, this number has plummeted by a staggering 47%, leaving only 863 new addresses being generated. The decline in new user sign-ups is not the only cause for worry within the PEPE ecosystem. Another key metric, network growth, has also experienced a disappointing downturn. These figures raise concerns about the overall health and vitality of the PEPE ecosystem. The decline in new user adoption and network growth may indicate a potential loss of interest or a lack of confidence in the project. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Jorge GarcÍa/VW Pics/Universal Images Group via Getty Images

There may be less mining selling pressure if smaller miners give up. The absence of miner accumulation has limited a BTC price increase as per experts. After the last difficulty adjustment on July 12, Bitcoin mining achieved an all-time high of 53.91 trillion units. It’s a way to rank the difficulty of mining Bitcoin. Every two weeks, the blockchain adjusts the difficulty to keep the average transaction time at 10 minutes. As the processing power of the network grows, it makes mining more difficult, cutting down the profits of individual miners. Miners, who have been forced to sell off their supply of mined Bitcoin (BTC) since June, may feel even more pressure as a result of the current adjustment. Some experts have speculated that the absence of miner accumulation has limited a BTC price increase. No Longer Turning a Profit Due to the recent difficulty increase, medium and small-scale miners will likely have to temporarily shut down part of their ASIC gear due to a loss in profitability. There may be less mining selling pressure if smaller miners give up and allow bigger miners to acquire Bitcoin. Independent analyst Charles Edwards developed the hash ribbon indicator to monitor the 30- and 60-day moving averages (MAs) of the network’s hash rate. When the 30-day MA drops below the 60-day MA, it indicates that miners may be giving up and leaving the market since they can no longer turn a profit. The two lines are almost at a crossing, and the increased difficulty may be just what the weaker miners need to give up. If less effective miners left the market, the remaining miners would reap greater rewards, enabling them to keep some of their production in reserve rather than selling it. Highlighted Crypto News Today: Binance Labs Goes Big on Web3 Gaming with $15M Investment in Xterio

Coinbase defenses with major questions doctrine, abuse of discretion, equitable estoppel, unclean hands, and laches. The first hearing between Coinbase and the SEC will play a significant role in shaping the litigation. Coinbase, the second largest cryptocurrency exchange, and the U.S. Securities and Exchange Commission (SEC) entered the courtroom today for the first time as part of the SEC’s lawsuit against the crypto exchange. The outcome of this legal battle holds implications not only for Coinbase but also for the global crypto industry. According to Coinbase’s Chief Legal Officer, Paul Grewal, the exchange has responded to the SEC’s statement and is prepared to address the court during the hearing. Coinbase has been vocal about the need for regulatory clarity in the crypto industry. And has sought to demonstrate that the current legal framework is insufficient for participants to navigate. Lawsuit Allegations: SEC vs Coinbase The lawsuit, filed by the SEC in early June, accuses Coinbase of operating as a broker, exchange, and clearinghouse for unregistered securities. Also, the SEC claims that 13 different cryptocurrencies listed on the exchange meet the requirements of the Howey Test. The Howey Test is a legal evaluation in the United States to determine whether a transaction qualifies as an investment contract, indicating that it should be classified as a security under federal law. The Important Dates in Coinbase – SEC Lawsuit If the parties involved in the case do not reach a settlement, it is expected that the ongoing litigation will continue for several years. Similar to the SEC vs Ripple Labs lawsuit which has been ongoing for three years. However, the pre-motion hearing held today, expected to set the tone for the litigation and shed light on its potential impacts on the global crypto market. The outcome could have significant upshot for other exchanges and industry players. Including Binance as they navigate compliance with federal securities laws. Further, Coinbase has been proactive in its legal defense. Signaling its intentions and publishing a blog post when it received a Wells Notice from the SEC. Also, the exchange has argued that the SEC’s actions violate its due process rights. And that the agency is attempting to preempt Congress by pursuing the lawsuit. Recommended for you SEC Lawsuits Against Ripple, Binance, & Coinbase: Explained

Mike Novogratz, founder of Galaxy Digital Holdings Ltd., recently gave his views about Bitcoin’s future and the anticipated approval of Bitcoin exchange-traded funds (ETFs) in the US, providing a glimpse into what might be in store for the world of crypto. Novogratz’s insights, shared during an interview on Bloomberg TV, come at a crucial time when the crypto market is in flux, sandwiched between mounting regulatory concerns and a growing interest from mainstream investors. BTC On An Upward Trajectory Mike Novogratz paints a promising future for Bitcoin in the coming months. According to his predictions, the digital currency is set to witness a price surge by the end of the year. His focus is currently on Bitcoin’s consolidation between the price brackets of $28,000 and $32,000. An interesting element of Novogratz’s prediction is the anticipated impact of the Federal Reserve’s monetary policy. He foresees a likely upward swing in Bitcoin’s value following the conclusion of the Federal Reserve’s interest-rate hikes. The prevalent market conditions, according to Novogratz, have been influenced by ‘supply pressure.’ So he suggests that significant profits realized by some investors are largely responsible for this situation. This viewpoint aligns with common investment market dynamics, where notable financial gains often result in an increase in selling pressure. Novogratz points out that this trend is playing out in the current Bitcoin market. Anticipating Bitcoin ETF Approval Mike Novogratz’s forecast for the future of Bitcoin doesn’t stop at predicting its market value. He also envisions the potential approval of Bitcoin Exchange-Traded Funds (ETFs) within the United States. This breakthrough could fundamentally alter the crypto investment landscape. If this approval becomes a reality, it would pave the way for industry heavyweights such as BlackRock Inc. and Invesco. These investment titans could introduce Bitcoin to a more extensive investor base, including those who previously had no access to this asset class. In Novogratz’s view, such approval would act as a ‘seal of approval’ from the Securities and Exchange Commission (SEC) and the US government. This validation would further establish Bitcoin’s credibility as an asset. Turning to the topic of his own firm, Galaxy Digital Holdings, Novogratz gave insights into their pursuit of a US listing. He acknowledged that the process is in progress, but admitted that the journey has been slow and ‘frustrating.’ The Toronto-listed company has plans to reincorporate in Delaware with an eye to subsequently list on Nasdaq. However, these ambitions are currently subject to an ongoing review process by the SEC. At present, Bitcoin’s trading activity has been noticeably centered below the $31,000 mark. Specifically, the digital asset was valued at $30,521 at the time of writing. Bitcoin has experienced a slight dip of nearly 1% over the last 24 hours. Featured image from Unsplash, Chart from TradingView

Binance Lab has funded $15 million to enhance technical developments. The gaming platform Xterio plans to expand its Artificial Intelligence technology. Binance, the world’s largest crypto exchange, has played an essential role in developing the Web3 sector. Binance’s investment arm, Binance Labs, has invested $15 million into the Web3 gaming platform and publisher, Xterio. The gaming platform plans to use Binance’s funding for games and technological developments. In recent years, the gaming sector has expanded its network with crypto and Web3 developments to make users more engaged in games. Continuing this significant development, the Web3 gaming platform Xterio announced that the Binance Lab funded $15 million to enhance technical developments. It includes Artificial intelligence (AI) integration and the launch of its tokens. Binance Lab is the venture capital and incubator arm of Binance that focuses on investing in and supporting blockchain entrepreneurs, startups, and the community. It will provide financing and industry projects to enhance the developments. Moreover, it aims to foster the growth and development of the Web3 ecosystem through strategic funding. Binance Lab’s Investment Enhances Xterio Ability Xterio is a free-to-play-and own game developer and publisher. The Web3 gaming platform now plans to expand its Artificial Intelligence technology. Binance Labs stated that Xterio is developing an emotional engine for artificial intelligence. Moreover, with Binance’s Investment, Xterio will integrate the AI interactive experience. And also to create an AI toolkit that can generate consistent product-quality 2D and 3D assets for developers. Michel Tong, the Xterio co-founder, stated, The gaming platform’s core team brings well-experienced Web2 professionals with Web3 expertise. This allows gamers to get into the world and experience Web3 gameplay. Moreover, the head of Binance Labs, Yi He, stated that the Xterio ecosystem is expanding faster than ever and bridges free-to-play genres with on-chain gaming’s enhanced AI capabilities. And also, as part of this collaboration, Binance Labs will support Xterio’s growth, and its token will become part of the BNB chain ecosystem.

The market capitalization of USDC has been on a downward trend since July 2022. Down from its all-time high of little less than $56 billion, it is now standing at $27 billion. The effects of 2022’s events continue to hang heavy over the crypto market. While the value of several cryptocurrencies has increased since the beginning of the year, many cryptocurrency businesses continue to struggle. Consequently, layoffs are still commonplace. Circle, the leading stablecoin issuer, has laid off employees. As a result, it is cutting down on spending on “non-core activities.” The company’s USDC stablecoin is the most notable product. The firm stated: Declining Market Cap Without providing specifics, it referred to the layoffs as a “marginal reduction in headcount.” Circle said in February to the Wall Street Journal that it was planning to increase its workforce size by 15 to 25%, or between 135 and 225 people. After the collapse of LUNA, investors and traders fled to Circle’s USDC stablecoin last year. Tether (USDT), its primary competitor, saw its market capitalization decline as USDC grew. However, Tether has surpassed its previous market value record, with $83.3 billion USDT now available on the market, and now dominates the stablecoin market. The market capitalization of USDC has been on a downward trend since July 2022, when it began to move upward. Down from its all-time high of little less than $56 billion, it is now standing at $27 billion. As of late 2022, Circle had abandoned plans to go public through a SPAC deal. Jeremy Fox-Green, the CFO, claimed that the business was planning another attempt at going public, but not this year. Highlighted Crypto News Today: Charles Hoskinson Wants Algorand To Become Sidechain of Cardano

Within the last 24 hours, Bitcoin and the entire crypto market are experiencing a slight downturn, leaving investors wondering about the reasons behind this dip. Bitcoin briefly rose to $31,009 before falling to 30,254 within a few hours. Ether (ETH) rose to over $1,900, only to drop back to $1,868. CPI Data And The Anticipation Of A Rate Hike One crucial piece of the puzzle lies in the recent Consumer Price Index (CPI) data. Yesterday’s CPI data for June was a positive surprise as the headline CPI year-over-year (YoY) fell to 3.0%, coming in below expectations of 3.1%. Even more encouraging was core CPI YoY which dropped to 4.8%, surpassing market expectations of 5.0%. However, this didn’t significantly alter the market’s view on the upcoming rate hike decision by the Federal Reserve at the end of the month. According to the CME FedWatch Tool, the market still expects a 25 bps hike by the Fed at the next meeting on July 25-26 with a 93% probability. Renowned macro analyst Ted (@tedtalksmacro) is in the minority that believes there won’t be another rate hike. Ted shared the chart below and wrote: Other analysts, however, believe that the core Personal Consumption Expenditures Price Index (PCE) is more important for the Fed. In the most recent release of FOMC minutes, PCE is mentioned ten times compared vs. three mentions of CPI. The Fed’s favored inflation gauge for June will not be released until 28 July. US Government Selling Bitcoin However, it is important to note that following the positive inflation data, traditional markets were setting new highs. The S&P500 rose by 0.74% yesterday and recorded its highest level since April 2022. Meanwhile, Bitcoin still could’t sustainably break $31,000 in its 6th attempt. The reason was likely the news that the US government is moving 9,800 BTC linked to the infamous Silk Road marketplace. The news broke shortly after the release of the CPI and drastically dampened sentiment. In the past, news that the US government is moving and possibly selling some of its Bitcoin always triggered severe price drops. Yesterday’s drop can still be considered moderate and an indicator of market strength. So far, there is only speculation about the US government’s plans. It is known that the US intends to liquidate the seized BTC holdings. The last time this happened was in March. Back then, 9,861 Bitcoin were sold. However, the transfers could also only be used to restructure the BTC holdings. BTC Stuck In Range Additionally, the market activity itself is playing a significant role. Traders actively engage in strategies such as longing at the bottom and shorting at the top of the current Bitcoin range. As analyst Skew aptly puts it, “Most are playing the range well, hedging near range highs & flipping long around range lows.” This trading behavior creates a dynamic environment where short-term price movements can be influenced by the actions of traders seeking to capitalize on market volatility. Skew added: At press time, the BTC price was at $30,431 and remained comfortably in the trading range between $29,800 and $31,300.

The burn rate of SHIB decreased by 94.37%. Shiba Inu is traded at an increased 8.97% in the crypto market. Shiba Inu (SHIB), one of the popular decentralized meme cryptocurrencies is attracting crypto users and investors majorly. Recently, the increase in the burn rate has led to the effective engagement of SHIB investors and enthusiasts. As per the recent update, the price of Shiba Inu is facing a little drop by 1.03% at $0.000007475. Yet, the trading kept on continuing in the market and the volume reached $73M an increase of 8.97%. Furthermore, this predicts the future of SHIB to retain successfully with tremendous active holders. SHIB 24Hr Price Chart (Source: CoinMarketCap) Also, the market capitalization of Shiba Inu is getting low with 1.12% of the total worth $4,405,958,793 over the past 24 hours reports. Meanwhile, the maximum circulating supply is infinite in the count, the current circulation amount of tokens ranges from 589 trillion. Shiba Inu Recent Transaction In consideration of the last 24 hours, a whole of 3,860,333 Shiba Inu tokens burnt. Alongside, a set of 6 transactions have happened. Out of which, 402,955 SHIB transacted to anonymous receivers recently. And, the highest transaction over the last few hours is 1,067,417. Shiba Inu Burn Status The recent burn report shows that 100 SHIB is burnt and the total burn rate is falling by 94.37%. Meanwhile, there are 1,990,121 SHIB tokens burnt in the whole last 24 hours. The overall burn from the initial supply accounts 410,651,363,314,984 SHIB tokens as per the records of SHIBBURN. Hope, the market remains high as it sustains its demand and engagement among crypto investors. Highlighting Crypto News Today: Shibarium Utility Skyrockets to Record Levels within 48 Hours

Crypto custodians play a crucial role as the guardians of users’ crypto funds by safekeeping their private keys. The collapse of FTX has altered the complete scenario. The crypto custody industry is currently working on regaining trust worldwide. TheNewsCrypto engaged in an interview with Arthit Sriumporn, the founder and CEO of Rakkar Digital, an emerging digital asset custodian, to discuss how custodian platforms streamline their operations in the current crypto regulatory landscape. Arthit, with his decade-long expertise in banking and finance, holds a strong focus on providing efficient and effective solutions to address every customer’s challenges. His passion for transforming the financial landscape has led him to position Rakkar Digital as a secure and easily accessible custodian. He highlights the key challenges faced by the crypto custody market and the strategies for mitigating risks. Dorian Batycka (DB): How do you see the current scenario of crypto being adopted by banks and financial institutions? Arthit Sriumporn (AS): The Southeast Asia and Hong Kong markets, in which we operate, have a much clearer regulatory framework. In contrast, the situation in the US, with its variable interest rates, is highly uncertain regarding the digital assets market. At Rakkar Digital, we are a third-party qualified custodian funded by SCB 10X and powered by Fireblocks infrastructure. And what we do is offer safe and qualified custodianship for digital assets. DB: What exactly is a qualified custodian and how that differs from other platforms that hold user funds? AS: There are two parts to custodians. One is using technological infrastructure like Fireblocks to do self-custody, in this case, asset managers or exchanges or brokers can use tech infrastructure like Fireblocks. So they hold custody of their own fund, they hold their own private key. We at Rakkar Digital are licensed custodians. That means we follow regulatory frameworks like anti-money laundering procedures and know your customer rules. The liability is actually with us because we hold a private key on behalf of the customers. So liability is very different. There’s a lot of emphasis on third-party lately now because of what happened with FTX, they hold 100% of their customer assets. In Thailand, the government has a very clear regulatory framework, allowing digital asset operators to hold 10% of their self-custody in a hot wallet for liquidity, but the other 90% has to be stored in a third-party qualified custodian. This model emphasizes the segregation of controls. DB: Centralized & crypto custodian platforms have come under stringent regulatory scrutiny due to a series of events that highly risked the safety of user funds. What measures have these platforms taken to uphold user security against soaring scams, heists, and data breaches? AS: There are multiple players in the ecosystem, operating as de facto exchanges, brokers, asset managers, and hedge funds. The custodian is actually the foundation of everything because custodians safeguard the asset, a very critical part of which is trust and security. And for exchange to implement their own custody is very difficult because their core business is the market match trading, but not safeguarding of the asset. And also these exchanges, it is very crucial for them to not hold everything in one bucket. So let’s say they want to do 100% self-custody, but if something goes wrong, the whole activity of the exchange can be jeopardized. So using qualified custodians, or a third-party custodian, is a good option for digital asset operators to defer the risk. And minimize the risk that can happen on-chain. DB: And how about the integration of third-party custodian tools for digital assets like NFTs? AS: Institutional exchanges and fund managers require adequate governance measures. As for NFTs, we have noticed an increasing number of entities that now offer storage solutions for these digital assets. Our company embarked on this journey last year and secured funding accordingly. While incorporating NFT support is part of our roadmap, we haven’t reached that stage yet. DB: The crypto events of 2022 solidly registered one fundamental lesson in our minds: “Not your keys, not your coins.” How has the integration of multi-party computation (MPC) technology aided wallets in boosting the security of users’ private keys? AS: We’re using Fireblock’s technology, which uses multi-party computation (MPC), that’s the underlying technology infrastructure. The MPC facilitates the division of a key into encrypted key shards and its storage on different servers. At the SDX layer of the hardware, we break it down into multiple key shards. As a custodian, we store keys in the cold wallet, meaning it remains offline and disconnected from the internet. We hold part of the key share in the signing device, which is offline signing. To hack this algorithm, one has to gain unauthorized access to multiple cloud servers and the signing device kept in a secure room. Only authorized personnel have access to the signing device, making it highly secure. DB: Countries are actively developing their CBDCs and harnessing their potential use cases in the financial markets. Regulators and even the crypto community do throw their criticism over these initiatives. In your opinion, what are the pros and cons of implementing CBDCs? AS: Continuing from my previous answer regarding regulations, we are not opposed to a strict regulatory framework. However, what concerns us more is an unclear regulatory environment. What we want to be able to do is we want to understand what can do and what cannot do. We want to avoid a situation like what occurred in the US, where there was significant uncertainty, leading people to take actions that later resulted in legal consequences. I think that’s not fair. So that’s why I said in this market it’s much more clear. Speaking about the pros and cons of Central Bank Digital Currencies (CBDCs), I think governments and central banks are trying to catch up. Of course, CBDCs offer more flexibility and good use cases. It can facilitate a lot of use cases like cross-border remittances or payments. It could speed up and could make people’s lives much easier. People also become apprehensive when a central bank or jurisdictional authority exercises control over a CBDC. The fact that it is electronic and subject to various actions by the governing body further contributes to this unease.

NFTs revolutionize digital ownership as Google Play embraces the trendsetter. Google Play propels NFT adoption, empowering users with unique digital assets In a significant policy shift, Google Play has opened its doors to non-fungible tokens (NFTs) and other digital assets, providing developers with the opportunity to integrate these unique tokens into their apps and games. This decision marks a pivotal moment for the NFT space. It unlocks a world of creative possibilities and signaling a bright future. Google Play’s updated guidelines emphasize transparency by requiring developers to clearly inform users about the presence of blockchain-based elements within their apps. It aims to foster a healthy ecosystem for blockchain technology by actively promoting responsible usage. Google Play And NFTs , A Successful Partners ? As with the integration of NFTs, developers can now reshape traditional games and offer user-owned content, revolutionizing the gaming landscape. By incorporating unique rewards, they can also enhance user loyalty and provide more immersive experiences. Meanwhile, Google Play’s embrace of NFTs reflects a broader acceptance and understanding of the technology’s potential. Collaborating with industry partners, such as Reddit, demonstrates the commitment to creating a fair and trustworthy environment for users. As more developers embrace it, this shift paves the way for mainstream adoption of this transformative technology. Finally, Google Play’s decision to allow the integration digital assets into apps and games marks a significant milestone. By promoting transparency, unlocking creative potential, and fostering mainstream adoption, it is paving the way for a promising future for NFTs. Highlighted News Today Shibarium Utility Skyrockets to Record Levels within 48 Hours

Hoskinson said that Algorand could be better into becoming a sidechain of Cardano. The biggest DeFi protocol on layer-1 blockchain Algorand, Algofi announces shutdown. Charles Hoskinson, the founder of Cardano, has recommended to Algorand (ALGO), a competing blockchain system, that the layer-1 network move its code to Cardano. The founder of Cardano responded to a tweet from the chief technical officer of the Algorand Foundation, John Woods, by making a public appeal for participation. John has created a video explaining where staking stands on the Algorand platform, the safety features it offers, and its potential for future expansion. Although the focus of the video was on Algorand, John did mention Cardano as a leading Delegated PoS protocol. Leveraging Established Protocols Evidently considering this, Hoskinson said that Algorand could be better to look into becoming a sidechain of Cardano. Sidechains are commonplace in the digital currency ecosystem. Each one has its own quirks but often leverages the established protocols and security measures of the main chain. It takes time to develop a stable staking setup that is well-structured and backed by smart contracts. It is said that Cardano’s edge over Algorand’s thriving ecosystem is due to the former’s centralization. While the latter’s strength lies in the breadth and depth of its developers. One major point of contention is the fact that blockchain technology is inherently decentralized. The biggest decentralized financial protocol on layer-1 blockchain Algorand, Algofi, has announced it would shut down because of a “confluence of events” making it impossible to keep it running at an optimal level. A blog post said that the platform, which allows for lending, borrowing, and trading, will soon switch to a withdrawal-only mode. Highlighted Crypto News Today: Algorand Foundation’s Algofi to Close Doors

Shiba Inu (SHIB) has made significant strides in the digital asset market, currently holding a market capitalization of over $4.4 billion. This remarkable achievement has propelled SHIB to claim the 18th position among the largest cryptocurrencies. Over the course of the past month, SHIB has witnessed a substantial increase in market capitalization. From June 13 up until today, there has been a surge of approximately half a billion dollars, elevating the market cap from a modest $3.9 billion to its current impressive level. Such a substantial rise in market capitalization prompts speculation regarding the potential impact on the price of SHIB. As the SHIB market cap continues to grow, it can create a sense of optimism among investors, potentially leading to increased demand and upward price pressure for the token. Potential Impact On Shiba Inu Price Market capitalization plays a significant role in determining the value and potential growth of a cryptocurrency like Shiba Inu. When a crypto coin’s market capitalization improves, it can have several implications for its price. Let’s explore the potential impact of an improved market capitalization on the price of SHIB. As the market capitalization of SHIB grows, it indicates a rising level of investor confidence in the cryptocurrency. A higher market capitalization often attracts more investors who believe in the project’s potential. This increased demand can exert upward pressure on the price of SHIB, driving it higher. An improved market capitalization generally leads to increased liquidity for a cryptocurrency. Liquidity refers to the ease of buying and selling a particular asset. When there is higher liquidity, it becomes easier for investors to trade SHIB without significantly impacting its price. This increased liquidity can create a more stable trading environment and potentially contribute to a more sustainable price trend for SHIB. Potential For Price Volatility When a cryptocurrency like SHIB experiences a notable increase in market capitalization, it tends to attract attention from the media, traders, and the crypto community. The positive sentiment surrounding the coin can further boost its price. Increased media coverage and discussions within the community can generate hype and attract more investors, potentially driving the price of SHIB even higher. Despite an increased market capitalization, SHIB’s price may still experience fluctuations due to market dynamics, news events, regulatory developments, or changes in investor sentiment. At the time of writing, SHIB is currently priced at $0.00000746 according to CoinMarketCap, experiencing a 24-hour decline of 1.1%. Over the course of the past seven days, SHIB has witnessed a slight decrease of 0.1%. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Fortune

Ethereum price failed again to clear the $1,900 resistance against the US Dollar. ETH is declining and might revisit the $1,825 support zone. Ethereum topped near the $1,900 resistance and declined. The price is trading below $1,880 and the 100-hourly Simple Moving Average. There was a break below a key bullish trend line with support near $1,875 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend its decline toward $1,845 or even $1,825. Ethereum Price Restarts Decline Ethereum’s price made another to clear the key resistance at $1,900. However, ETH failed to gain pace above the $1,900 resistance and reacted to the downside, similar to Bitcoin. A high was formed near $1,901 and the price declined below $1,880. There was a break below a key bullish trend line with support near $1,875 on the hourly chart of ETH/USD. The pair traded below the 76.4% Fib retracement level of the upward move from the $1,862 swing low to the $1,901 high. Ether is now trading below $1,870 and the 100-hourly Simple Moving Average. It seems like the bears are in control and they might aim for a move below the $1,862 low. Source: ETHUSD on TradingView.com On the upside, immediate resistance is near the $1,880 level and the 100-hourly Simple Moving Average. The first major resistance is near the $1,890 zone. The main resistance is still near $1,900. A close above the $1,900 resistance could start a decent increase. The next major resistance is near the $1,955 level. Any more gains could send Ether toward the $2,000 resistance. More Losses in ETH? If Ethereum fails to clear the $1,880 resistance, it could continue to move down. Initial support on the downside is near the $1,860 level or the last swing low at $1,862. The first major support is near the $1,845 level, below which the price might test the 1.618 Fib extension level of the upward move from the $1,862 swing low to the $1,901 high at $1,838. The next major support is near the $1,825 level. Any more losses could send Ether toward the $1,770 support level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $1,825 Major Resistance Level – $1,900

Xterio is bridging free-to-play and the digital ownership era. The new funds will support game and technology development to bring high-quality cross-platform gameplay. ZUG, Switzerland–(BUSINESS WIRE)–Binance Labs, the venture capital and incubation arm of Binance, has committed $15 million into Xterio’s exclusive development and management partner, a leading Web3 game platform and publisher bridging free-to-play and on-chain gaming with in-house and third-party games currently in development. The company plans to use this investment to further game and tech development, including integration of AI, and the launch of its tokens. “The Xterio ecosystem is expanding faster than ever, and bridges free-to-play genres with on-chain gaming enhanced by AI capabilities,” said Yi He, Co-Founder of Binance & Head of Binance Labs. “The Xterio core team brings together experienced Web2 professionals with Web3 expertise, and we look forward to closely working with them to allow gamers around the world to experience rich on-chain gameplay.” Xterio’s founding executive team has extensive experience in tech, Web2 gaming and entertainment companies like FunPlus, Ubisoft, Krafton, Jam City, NetEase and more, providing substantial expertise in creating and maintaining high-grossing, free-to-play social games on PC and mobile. As part of the long-term strategic partnership, Binance Labs will support Xterio’s growth, and Xterio’s token will become part of the BNB Chain ecosystem. This funding will accelerate the development of games incubated by Xterio and games of Xterio’s partners. Xterio is fueling the creation of fresh, world-class intellectual properties to enrich its Web3 distribution platform and ecosystem. Xterio’s ecosystem is growing rapidly, with a diverse suite of cross-platform games scheduled to be released on PC and mobile. The ecosystem will also feature digital collectibles distributed via Xterio’s web platform and marketplace. Xterio caters to a wide range of gamers by offering immersive adventures in Overworld, strategic depth with Age of Dino, and intense action through 3T. More details about Xterio’s first and third-party games will be revealed soon. “This significant capital commitment affirms Binance Labs’ long-term view of Web3 gaming and recognizes Xterio as a top-tier, globally impactful Web3 game platform,” said Michael Tong, co-founder of Xterio. “Binance Labs’ investment enhances our ability to launch a transformative ecosystem token and high-quality games. In partnership with Binance Labs, we envision unlimited potential, and aim to reinforce our position as a leading Web3-focused publisher with a global reach, utilizing our East and West teams.” Xterio plans to utilize the investment to expand its AI capabilities, develop AI-driven interactive experiences, and resolve AI provenance issues in Web3. Currently, Xterio is in the process of developing an AI toolkit that generates style-consistent, production-quality 2D and 3D assets while also offering an “emotion engine for artificial intelligence.” This technology will be accessible to all content partners within the Xterio ecosystem, aiming to provide users with meaningful companionship that goes beyond the utility typically associated with AI. About Xterio Xterio Foundation was founded in Switzerland with a Council and a team of technology and entertainment leaders with deep free-to-play games experience. Its mission is to develop, publish and distribute high-quality Web2 and Web3 games and interactive entertainment. For more information, please visit xter.io and follow along on Twitter. About Binance Labs As the venture capital arm and accelerator of Binance, Binance Labs has now grown to be worth over $9 billion. Its portfolio covers 200 projects from over 25 countries across six continents and has a return on investment rate of over 10X. Fifty of Binance Labs’ portfolio companies are projects that have gone through our incubation programs. For more information, follow Binance Labs on Twitter. Contacts Media Contacts Claire McCafferty Binance [email protected] Sibel Sunar fortyseven communications for Xterio [email protected]

Bitcoin price failed to gain bullish momentum after the US CPI release. BTC is trading below $30,500 and there is a risk of a drop toward $29,850. Bitcoin failed to clear the $30,850 resistance and reacted to the downside. The price is trading below $30,500 and the 100 hourly Simple moving average. There was a break below a connecting bullish trend line with support near $30,620 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down if it fails to stay above the $30,200 support. Bitcoin Price Faces Another Rejection Bitcoin price attempted a fresh increase above the $30,500 resistance zone. BTC climbed above the $30,750 level but the bears were active near the $30,850 resistance zone. A high was formed near $30,850 and the price reacted to the downside. There was a break below a connecting bullish trend line with support near $30,620 on the hourly chart of the BTC/USD pair. The pair even declined below the $30,500 support. A low is formed near $30,230 and the price is now consolidating losses. Bitcoin is now trading below $30,500 and the 100 hourly Simple moving average. It is stuck near the 23.6% Fib retracement level of the recent decline from the $30,850 swing high to the $30,230 low. Immediate resistance is near the $30,400 level and the 100 hourly Simple moving average. The next resistance is near the $30,550 zone. Source: BTCUSD on TradingView.com The 50% Fib retracement level of the recent decline from the $30,850 swing high to the $30,230 low is also near $30,550, above which the price could gain bullish momentum. In the stated case, BTC might rise toward the $30,850 resistance. The next major resistance is near the $31,000 level. Any more gains could open the doors for a move toward the $31,400 resistance zone. More Losses in BTC? If Bitcoin’s price fails to clear the $30,500 resistance, it could start another decline. Immediate support on the downside is near the $30,230 level. The next major support is near the $30,000 level, below which there could be a drop toward the $29,850 support zone. Any more losses might send the price toward the $29,400 level in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $30,230, followed by $30,000. Major Resistance Levels – $30,400, $30,550, and $31,000.

Litecoin has seen one of the most impressive runs of any cryptocurrency over the last couple of weeks and this run has propelled the altcoin’s standing in the industry. After rallying more than 30% over a period of three weeks, the digital asset is now the 10th-largest cryptocurrency in the space. LTC’s Market Cap Crosses $7.1 Billion In the space of a month, the price of Litecoin’s native LTC token shot up from its June lows of $71 and moved as high as $115 before the rally burned out. Following this, the market cap of the digital asset moved up rapidly, beating out some heavy hitters in the space. Currently, the market cap of the altcoin is sitting above $7.1 billion, despite the price falling back below the $100 level. Its market cap now makes it the 10th-largest cryptocurrency in the market, coming out ahead of the likes of Polygon (MATIC), Tron (TRX), and Bitcoin Cash (BCH). Litecoin’s standing now makes it the seventh most valuable cryptocurrency in the market when stablecoins are removed from the top 10. This move has also solidified Litecoin’s position as an important player, despite its price correction. Could Litecoin Run Further From Here? The biggest bull case for the price of LTC is the Litecoin halving event that is coming up. Only 20 days away from now, investors are already gearing up for what is expected to be a very significant event. These expectations also naturally extend to the price and this could be the reason that the digital asset’s price continues to rise. Just the anticipation from the last month alone has seen the price cross $115 at its local high. But as the event draws closer and this bullish sentiment continues, the LTC price could quickly reclaim this price and run another 50%. In one instance, crypto analyst Michael van de Poppe has predicted that LTC could rally as high as $200 off the halving event alone. If this happens, then investors could be looking at gains of over 100% just from the current bounce-off point. However, one concern is that the Litecoin halving could end up being a ‘buy the rumor, sell the news’ event. Examples of this have been the Cardano Alonzo upgrade in 2021 and Ethereum’s Shapella upgrade in 2023. In both of these cases, the token prices rallied in the weeks leading up to the event but eventually fell flat and retraced once the event was completed. So if Litecoin ends up in the same trend, then it would be best to sell in the weeks leading up to the event. For now, LTC’s price is still holding steady at $97, despite nursing 8.09% losses on the 7-day chart.

Over the past week, the Chainlink price has been hovering around its local support level, as altcoins have displayed similar indecisiveness in response to broader market sentiment. However, in the last 24 hours, Bitcoin and LINK experienced slight gains on their charts. LINK saw a 1.5% increase, and its weekly chart indicated consolidation. The altcoin’s technical outlook seems to favor the bulls. Demand and accumulation were in the positive zone, indicating increased buying strength. While LINK painted bullish signals, it is important to note that the bullish sentiment is limited to its shorter time frame, and the higher time frame suggests a bearish sentiment. If Bitcoin retraces below $30,500, LINK is expected to fall below its local support level, invalidating bullishness. It remains crucial for LINK to surpass overhead resistance. The market capitalization of LINK has been increasing, indicating the control of buyers in the market. Chainlink Price Analysis: One-Day Chart LINK is currently trading at $6.26, below the rigid resistance of $6.50. The level above acts as the overhead ceiling for the altcoin. Despite breaking out of the bearish trendline (green), LINK has been unable to overcome immediate resistance as it remains largely bearish on the higher time frame. The rejection at $6.50 has resulted in selling pressure, which could resume if LINK fails to move above immediate resistance. A fall from the present price level would cause the coin to drop below $6 and approach $5.80. Technical Analysis Demand for LINK rose as the coin moved from the $6 level. However, sellers are expected to take over if the price action stalls again. The Relative Strength Index has moved away from the 50-mark, indicating an increase in buyers. Additionally, the price is currently above the 20-Simple Moving Average line, suggesting that buyers are driving the price momentum in the market. As demand for LINK increased, investor confidence also grew. The Chaikin Money Flow, which measures capital inflows vs. outflows, is currently above the half-line, indicating that capital inflows are higher than outflows. Meanwhile, the Moving Average Convergence Divergence (MACD) reflects price momentum and reversals. However, the indicator has formed red histograms on the half-line, signaling the onset of bearish action and potential sell signals for the altcoin. Therefore, it is crucial for LINK to break past the $6.50 resistance level; otherwise, the bears will have full control over the asset.

Tether, one of the largest stablecoin issuers, has recently made a significant move in the cryptocurrency market. With the release of an additional 1 billion USDT on the Ethereum and TRON networks, Tether aims to solidify its market dominance and enhance its interoperability. Whale Alert, an on-chain analytics account known for monitoring significant cryptocurrency transactions, drew attention to this latest move by Tether. In response to Whale Alert’s tweet announcing Tether’s 1 billion USDT inventory replenishment on the Tron Network, Tether’s CTO Paulo Adoino replied in a tweet stating that the issuance was authorized but not yet issued, indicating that the tokens will serve as inventory for future issuance requests and chain swaps. Tether’s issuance of 1 billion USDT on the TRON network could underscore a rise in demand for the stablecoin, which would explain why the company has minted such a significant supply for future purposes. USDT Growing Dominance: Market Cap Soars Amidst Stablecoin Shifts Amidst the rapidly evolving cryptocurrency market, Tether’s market dominance is becoming increasingly evident. Recent data from Coinecko reveals that over the past 90 days, USDT’s market capitalization has surged by $2.6 billion, highlighting its growing importance in the cryptocurrency landscape. In stark contrast, USD Coin (USDC), another major stablecoin, has experienced a decline of $4.6 billion in its market capitalization during the same period. These figures indicate a significant shift in market dynamics, with USDT emerging as the leading stablecoin in terms of market cap. With around 65% of the total market cap of stablecoins, Tether continues to solidify its position as a trusted and widely adopted digital currency. What This Means For The Crypto Market A large influx of stablecoins into the crypto market can often serve as a bullish indicator for digital assets in the space. This is because the more USDT is available in the market, the more buying power is present. A Tuesday report on the on-chain data analytics platform Santiment points to this where investors were advised to keep an eye out for the supply of stablecoins on exchanges. According to the report, an increase in stablecoins such as USDT and USDC could mean that something is “brewing” in the market. In the case of the newly minted USDT, if the majority of the stablecoins find their way to centralized exchanges, then it could mean that investors are looking to move into more volatile cryptocurrencies. In such a scenario, the rising demand would translate into a bullish rally for assets such as Bitcoin and Ethereum, triggering a bull run.