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Tokenization in 2024 – Exchanges Need To Build Trust
In 2023, the market for tokenized business assets grew by between 16% and 23% in CAGR (compound annual growth rate).
Still, even the most optimistic valuations agree that tokenized assets currently account for less than 11% of crypto’s total valuation.
While some dub tokenization a failed technology, the macro trends for its adoption are finally gaining steam.
According to DeFi Llama and Fed’s research, the fraction of real-world assets in DeFi more than doubled over the last year.
The European Investment Bank now issues tokenized bonds, while KKR has started to tokenize private equity fundraising.
As the regulatory environment is preparing for a merger between TradFi and blockchain, it is up to exchanges to build what no developers have been able to thus far – trust. Read More
Polygon co-founder explains how to stop inscriptions from crashing networks
According to Polygon co-founder Brendan Farmer, parallelized EVMs may help to solve the problem of inscription spam.
Inscriptions, a form of digital collectible created by writing data into the calldata or witness fields of a blockchain transaction, have caused degraded performance or even crashes on several blockchain networks, including Arbitrum, zkSync, Avalanche and others. But Brendan Farmer, co-founder of Polygon, claims that parallelized Ethereum Virtual Machines (EVMs) may solve the problem once and for all.
Inscriptions were first created on the Bitcoin network. After the Taproot upgrade in 2021, Bitcoin users discovered that the upgrade allowed them to embed data into the “witness” field of a transaction, allowing images, tokens and other types of digital collectibles to be minted on the Bitcoin blockchain. Some users saw the new collectibles as a benefit to the network, while others regarded them as “spam.”
But the craze didn’t stop with Bitcoin. Soon, inscription producers started minting them on Ethereum sidechains and layer-2s such as Arbitrum, Avalanche and Polygon. Read More
100 days out: What the Bitcoin halving means after BTC ETF approvals
The Bitcoin halving has proven to be an important benchmark for traders trying to time the market, but how could the new spot BTC ETFs affect this trend?
Crypto Twitter has been immersed in the speculation and anticipation of the eventual approval of the spot Bitcoin exchange-traded funds (ETFs) in the United States.
After some turbulence caused by an alleged fake tweet from the U.S. Securities and Exchange Commission, all 10 spot Bitcoin ETFs were approved.
The ETF hangover is over, and attention can now shift to the next big event: the Bitcoin halving. The biggest Bitcoin event has less than 100 days to go. The past halvings have directly correlated with Bitcoin’s bull runs, but could the spot Bitcoin ETFs influence the price of BTC in this halving cycle, interfering with short- and long-term Bitcoin price predictions? Read More
Solana stablecoin transfer volume hits record monthly high of $300B
There has already been more than $300 billion in stablecoin transfer volume in January, eclipsing December’s volume.
The transfer volume of stablecoins on the layer-1 Solana blockchain has steadily increased, hitting a new record in January.
According to blockchain analytics platform Artemis, stablecoin transfer volume on Solana already exceeded $300 billion in January.
The figure has already eclipsed the $297 billion in Solana stablecoin transfer volume for December 2023. Read More
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Entrepreneurs encounter many challenges that can impede their businesses' progress and prosperity. However, force multipliers such as technology, tactics, resources, software, and partnerships can enhance effectiveness and achieve significant results even with limited resources. Markethive, a social neural network, provides a range of force multipliers, including information and content sharing, user-generated content, blockchain technology, storefronts, campaigns, brand ambassadors, awareness of the market, and network connectivity. These force multipliers can expand a business's reach, influence, and development, making Markethive an invaluable asset for entrepreneurs.
The challenges that entrepreneurs encounter can hinder their businesses' long-term success and growth. One common obstacle is figuring out how to effectively utilize the limited resources at their disposal, whether time or money, to achieve the most significant impact and profitability. This is where force multipliers come into play. It is essential to understand what force multipliers are and how powerful they are in addressing these challenges.
The armed forces have long understood the importance of force multipliers. A troop multiplier, for instance, enhances an existing military capability by either increasing its size or utilizing machine guns as force multipliers for rifles. The military would integrate sniper training into various subjects to enhance the value of snipers as a force multiplier and ensure their survival in combat.
Force multipliers are a means to accomplish more remarkable results with the same or reduced amount of effort, similar to how using a drill instead of a screwdriver can make tasks more manageable. These force multipliers can be vital in ensuring the business's survival. Read More
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How scammers used FOMO and misleading code to rug 42K victims — Blockfence
Even some of the industry’s “rug pull detectors” didn’t pick up on the sophisticated rug pull schemes, according to the blockchain security firm.
A group of cryptocurrency scammers have managed to rug pull over 42,000 victims for over $32 million since April 2023 via a novel method that has even fooled some of the industry’s “rug pull detectors,” according to a blockchain security firm.
Like many cryptocurrency rug-pull scams, the scammers create tokens impersonating a soon-to-be-launched crypto project token, using FOMO (fear of missing out) to entice investors.
However, in a Jan. 18 report, Blockfence’s head of security research, Pablo Sabbatella, revealed the scammers used a distinctive method that involved faking the maximum token supply through minting and burning and using a code bait-and-switch tactic that deceived victims and fooled rug-pull detectors. Read More
US Virginia introduces bill to protect digital assets mining rights
The legislation establishes rights for digital assets miners and validators and provides tax incentives for the purchase of goods and services with cryptocurrencies.
The Virginia State Senate has introduced legislation that delineates regulations for the mining and transactions of digital assets and their treatment under tax laws.
Senator Saddam Azlan Salim, the youngest member of the legislative body at 34 years old, proposed Senate Bill No. 339 on Jan. 9. The Senate is discussing the legislation, and if it passes, it will go to the House of Delegates for consideration, and then be signed into law.
The bill exempts individuals and businesses engaged in digital mining activities from obtaining money transmitter licenses. It also shields miners from discrimination by prohibiting industrial zones from banning digital assets mining or imposing more restrictive noise ordinances than those in place in industrial zones.
“No license under this chapter shall be required of any person engaging in home digital asset 37 mining, digital asset mining, or digital asset mining business activities, as those terms are defined in § 38 15.2-2288.9.” Read More
What are cryptocurrency hedge funds, and how do they work?
Crypto hedge funds, created to navigate the complexities of cryptocurrency investments, pool funds from various investors to strategically trade digital assets, aiming to yield positive returns.
Unlike their traditional counterparts, cryptocurrency hedge funds specialize in crypto fund management, investing in cryptocurrencies and employing various strategies to generate favorable returns for their investors. This includes buying and selling cryptocurrencies, as well as engaging in crypto derivatives and futures trading. Particularly, a crypto hedge fund operates as an intermediary between contributing investors and initiating traders for investors looking to get exposure to digital assets.
A crypto hedge fund may focus solely on crypto assets or incorporate cryptocurrencies into its investment strategy alongside traditional instruments like stocks and bonds. Additionally, such funds may invest in venture capital and private equity for blockchain startups, providing a diversified pool of assets and enhancing their digital asset management.
When it comes to regulations, crypto hedge funds may face comparatively less oversight than traditional hedge funds, and the extent of this regulation depends on the specific mix of investments in the overall portfolio. Read More
Saga Expands Airdrop Rewards to Solana, Polygon, and Avalanche Games
Upcoming gaming network Saga is bringing its play-to-airdrop push to games like Parallel, Shrapnel, and Gas Hero on other chains.
Saga, an upcoming gaming-centric layer-1 blockchain network, announced this week that it will offer play-to-airdrop rewards in partnership with games that are running on other major blockchains, including Solana, Avalanche, and Ethereum scaling network Polygon.
The “Three Kingdoms” play-to-airdrop campaign offers the ability for players of games on those three networks to potentially claim a share of the upcoming SAGA token launch, which is planned for this spring.
Saga co-founder and CEO Rebecca Liao previously teased plans to Decrypt about play-to-airdrop rewards on other chains, including Avalanche and Polygon, as Saga has collaboration agreements with the firms supporting both respective chains. Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
