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L2 Network Base Announces New Update Subscription Features

According to BlockBeats, L2 Network Base announced on June 27 that it has added new features to keep its users updated about its status. The new features include event and maintenance update subscriptions via email, text messages, and Slack. This move is aimed at ensuring that users can always stay informed about the status of Base in a timely manner. The company has not provided further details about these new features or when they will be fully implemented. This announcement comes as part of L2 Network Base's ongoing efforts to improve its services and user experience.
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Tokenization Gains Momentum In Digital Assets Market Amid Challenges

According to CoinDesk, the digital assets market is witnessing a significant transformation in 2024, with tokenization becoming a powerful new force. The entrance of heavyweights like BlackRock into the market is fueling this momentum, leading to a surge in the Total Value Locked (TVL) of these assets. This rise indicates an increase in investor demand, confidence, and interest, marking a new phase of adoption following the widespread acceptance of stablecoins in recent years. However, the tokenized assets market is not without its challenges. Traditional financial investors remain wary about product structuring and face liquidity issues in secondary markets. The complexity of trading and monitoring these digital assets post-issuance, coupled with the need for robust risk management processes, deters potential investors. For tokenized assets to gain broader acceptance, they must establish a robust infrastructure and provide a transparent product lifecycle. As the market supply progresses along the adoption curve, the lack of data availability, data analytics, and data quality significantly complicates the implementation of structured due diligence and monitoring processes for investors. This leads to varying risk exposures throughout the lifecycle of tokenized assets. These risks are evident in the creation of new assets, modifications to asset characteristics, the contractual terms of issuance, trading, custody, and the valuation of underlying assets. Investors need to understand the potential risks along the value chain and the intermediaries involved to mitigate risks and increase trust. Effective risk management involves continuous evaluation of technical infrastructure, compliance with evolving regulations, and stringent security measures for smart contracts. Clear property rights, secure custody of private keys, and accurate valuation through high-quality oracle services are also crucial. The integration of red-flag detection systems that leverage both on-chain and off-chain data, along with constant price discovery mechanisms, further enhances integrity and trust. The tokenized assets market is advancing rapidly, attracting increased interest from traditional financial investors due to innovative value propositions with new products and customer segments. However, significant challenges remain. Investors need to implement additional risk management processes, while specialized data providers and rating agencies are crucial for providing independent assessments. Through diligent oversight, monitoring, and continuous evaluation, these stakeholders can ensure the market develops securely, transparently, and in an investor-friendly manner, ultimately leading to broader adoption and integration into the global financial system.
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Non-Fungible Tokens Continue to Reshape Global Industries

According to CoinDesk, Non-fungible tokens (NFTs) have continued to make a significant impact on global industries, despite a market downturn that led many to prematurely declare the technology 'dead'. The NFT market has seen sales volumes reach nearly 200,000 NFTs, valued at over $191 million per day. Despite some NFT markets experiencing a decline of over 90%, the technology continues to be a game-changer. NFTs are not just internet culture toys, as some may perceive due to high-profile projects like CryptoPunks and Bored Apes. They are a revolutionary way of recording who holds rights to an asset. NFTs can certify ownership and authenticity, and they come with many features of blockchains such as interoperability, secure transfer, and verification. The NFT industry has created a property rights system that is available 24/7/365 to anyone, anywhere at a fraction of the cost of traditional systems, and conveys uniqueness to any asset including digital files. The assets and the rights that can be conveyed through NFTs are virtually limitless. They are changing what’s possible and reshaping existing industries. For instance, in the world of digital art and collectibles, NFTs provide artists and IP holders a means to create a verifiably unique or distinct digital item, unlocking new avenues for monetization. The holder of an NFT receives rights that can include ownership, usage, and resale of the digital work. The financial world is also embracing tokenization. NFTs offer more efficient and accessible markets for traditional financial instruments with transparent ownership and instant settlement. They are also being used to represent carbon credits, ensuring authenticity and helping combat climate change while adhering to regulatory standards. NFT technology is revolutionizing various sectors including music, video, ticketing, gaming, trade finance, luxury goods, identity, private credit, AI, physical goods, and even vehicle registries. Just as the early days of the Internet brought about transformative changes, NFTs are reshaping the world with the same transformative power, creating unprecedented innovation and economic possibilities.
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BNB Drops Below 570 USDT with a 0.99% Decrease in 24 Hours

On Jun 26, 2024, 17:05 PM(UTC). According to Binance Market Data, BNB has dropped below 570 USDT and is now trading at 569.200012 USDT, with a narrowed 0.99% decrease in 24 hours.
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Tron Network Daily Active Addresses Surge, Leading Among Layer 1 Networks

According to BlockBeats, the Tron network has seen a steady increase in daily active addresses since the beginning of the year, currently nearing 2.5 million. This places it at the top of the Layer 1 network rankings. The Tron network, a decentralized platform aimed at sharing digital content, has been experiencing a significant rise in user activity. The number of daily active addresses, a key indicator of network usage, has been on a steady upward trajectory since the start of the year. As of June 27, the number of active addresses has approached 2.5 million, marking a significant milestone for the network. This surge in activity has propelled Tron to the top of the Layer 1 network rankings. Layer 1 networks are the underlying main blockchains, such as Bitcoin or Ethereum. They are the foundation of the decentralized web, supporting a variety of applications and services. Tron's position at the top of this list indicates its growing popularity and usage in the blockchain community. The increase in daily active addresses suggests that more users are interacting with the Tron network, either by sending transactions, using applications, or participating in the network's governance. This growth in user activity is a positive sign for the network, indicating a healthy and active user base. However, it's important to note that while the number of daily active addresses is a useful metric for gauging network activity, it doesn't necessarily translate to an increase in the value of the network's native token. The value of a blockchain network is determined by a variety of factors, including the number of users, the volume of transactions, and the quality of the applications built on it.
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Korean Crypto Firm Hashed Expands to Abu Dhabi

According to Bloomberg, Hashed, a crypto investment firm based in Seoul, South Korea, has announced a partnership with Abu Dhabi's global tech ecosystem, Hub71. The collaboration aims to introduce more Korean startups to the United Arab Emirates (UAE), particularly those in the fintech and digital assets sectors. Hashed is also considering opening an office in Abu Dhabi and exploring potential fundraising opportunities in the UAE capital. Established in 2017, Hashed manages approximately $700 million in assets and has offices in various locations worldwide, including San Francisco and Singapore. The company's CEO, Kim, stated in an interview that Hashed is actively seeking to expand overseas due to the challenging environment for startups in South Korea. This is due to several factors, including the difficulty of expanding the domestic market. Kim expressed his excitement about the prospect of welcoming more Korean startups to Abu Dhabi and attracting promising Web3 and digital asset technologies to the UAE capital. He also mentioned that Hashed is already assisting some South Korea-based companies, valued at over $1 billion, to enter the Abu Dhabi market. However, he did not disclose the names of these firms, stating that the process is still ongoing. Kim highlighted the UAE as a special market for Hashed, citing Abu Dhabi's friendly and clear regulatory guidance for Web3 startups. He also noted the global popularity of Korean content, such as K-pop music and drama, and South Korea's long-standing relationship with the UAE in building nuclear power plants, as advantages for Korean startups looking to enter the Middle East. While Hashed is headquartered in Seoul, most of its portfolio companies are based outside South Korea. Some of its well-known portfolio companies include Bored Ape creator Yuga Labs, decentralized derivatives exchange dYdX, and blockchain-based game Axie Infinity. Hashed was also an investor in the unsuccessful TerraUSD algorithmic stablecoin.
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MicroStrategy CEO Advises Buying Bitcoin Amid Market Uncertainty

According to U.Today, MicroStrategy's chairman and CEO, Michael Saylor, has advised investors to 'Buy Bitcoin before you need it.' amid the current market uncertainty. This advice comes as Bitcoin's price faces instability, dropping to lows not seen in over a month. In the past two weeks, Bitcoin has seen a decline of up to 8%, reaching a low of $58,414 on Monday, marking the worst intraday drop since April 13. Bitcoin has been affected by two weeks of outflows from exchange-traded funds (ETFs) that hold the cryptocurrency. A recent report from CoinShares revealed that Bitcoin investment products saw outflows of approximately $600 million for the second week in a row. This is the highest in two weeks since January when ETFs were approved in the U.S. Adding to the market's concerns is the announcement from the rehabilitation trustee of Mt. Gox, a Japanese crypto exchange that was hacked over a decade ago. The trustee stated that repayments of Bitcoin and Bitcoin Cash would begin in July. Uncertainties surrounding monetary policy, including worries about the Federal Reserve's ability to quickly lower interest rates from a two-decade high, have also contributed to the crypto market's downturn. At the time of writing, Bitcoin had slightly recovered and was up 0.41% in the last 24 hours to $61,134. Investors are now looking forward to this week's economic data releases and comments from Federal Reserve officials. There are ongoing questions about when the first interest rate cut will take place. As the market waits to see what happens next with the Bitcoin price, Saylor's advice serves as a reminder of the importance of strategic planning in times of market uncertainty.
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