Cryptocurrency analysis firm Layergg suggests that the Middle East and North Africa (MENA) region's growing adoption of blockchain may impact certain altcoins. Notable developments include a gaming initiative in Dubai, Abu Dhabi's $2 billion Web3 Initiative, and Saudi Arabia's Neom City Project. Layergg notes a shift in crypto market power from China to the US, citing the Bitcoin Spot ETF approval and Binance's $4.3 billion fine. Binance's market share dipped below 50%, while Coinbase stands to benefit from traditional finance capital inflows. Binance's CEO, Richard Teng, plans MENA expansion, aligning with pro-crypto policies in the region since 2022. MENA-themed projects gaining attention include XRP, TON, CRO, WEMIX, SIDUS in Dubai; NPT, IOTA in Abu Dhabi; and ONIT, SAND in Saudi Arabia. Analysts suggest Binance's strategic moves into Japan and the UAE aim to broaden the Asia and MENA framework versus the US. More projects are expected to enter the MENA region, shaping a broader market dynamic.
$onit $XRP $cro $TON $SAND $sidus
