We round up the weekly news from across Asia, highlighting the most important industry trends. Can the Metaverse Solve Japan’s ‘Hikikomori’ Problem? Research and consulting firm Yuri Group estimates that if just 10% of Japan’s 1.5 million hikikomori returned to work via the metaverse, Japan could pump about $10 billion into its economy annually. “Hikikomori” is a Japanese word that refers to an individual who stays at home, withdraws from social life, and seeks extreme isolation. It is a complex social problem that reduces the country’s labor force and harms the mental and physical health of those who live a…
Author: Crypto Flexs
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Ethereum price corrected its uptrend and traded below the $3,300 level. ETH is consolidating and facing obstacles near the $3,300 resistance zone. Ethereum started a downward correction from the $3,400 resistance level. The price is trading below $3,330 and the 100 hourly simple moving average. A major bullish trend line has broken below the $3,295 support level on the ETH/USD hourly chart, according to data provided by Kraken. The pair could start further upside if it breaks the $3,330 resistance zone. Ethereum Price Extends Downtrend Below $3,300 Ethereum price failed to break the $3,400 resistance level and started a downward…
Company • August 1, 2024 5:08 PM EDT Posted 1 minute earlier In ~ Coinbase’s Q2 revenue more than doubled year-over-year, but was down slightly from the previous quarter.The company’s total revenue for the second quarter was $1.45 billion, down 11% from the first quarter. The decline was partly due to lower consumer transaction revenue.Coinbase reported $665 million in consumer transaction revenue in Q2, down 29% from the $1.07 billion it reported in Q1. However, the exchange’s stablecoin revenue increased to $240.4 million from $197.3 million in the previous quarter.Interestingly, the exchange also reported: Solana brush -2.32% It accounted for…
James Ding August 1, 2024 17:58 The IOTA community aims to support the new IOTA EVM ecosystem by approving a significant liquidity program to drive growth and adoption. According to the IOTA Foundation blog, the IOTA community has overwhelmingly voted in favor of a significant liquidity bootstrapping program designed to power the recently launched IOTA Ethereum Virtual Machine (EVM) ecosystem. Community-led initiatives Driven by community consensus, this initiative aims to provide necessary financial resources to new projects and developers working on the IOTA EVM. Through this, the community hopes to accelerate the growth and…
Dumpy.fun becomes the first platform to trade Solana meme coins short term. Shorting any asset carries significant risks. The risks extend to lenders on the platform as well. Meme coins are one of the most volatile assets in cryptocurrencies, driven largely by hype. Their prices fluctuate wildly, rising and falling much more than other tokens. However, until now, traders have only been able to bet on each coin going up. Most recently, Save Finance, formerly known as Solend, has introduced a platform where traders can bet on these tokens. Dumpy.fun, styled after the popular pump.fun, allows traders to short meme…
What do I need to know about transferring digital assets? If you are interested or have any interest in investing in digital assets, you may have wondered, “Can you inherit digital assets?” In this article, Wasim Ahmad, Chief Crypto Officer at Vault12, shares his thoughts on the most important things to know about inheriting Web3 assets and passing on crypto. Inheritance: What Happens to Your NFTs, Digital Art, and Cryptocurrencies When You Die? What happens to your NFTs, digital art, and crypto when you die? You need to understand how to pass your Web3 assets to your children or heirs.…
The Bitcoin (BTC) price plunged 5.5% between July 31 and August 1, reaching a two-week low of $62,498. The move was driven by reduced expectations of a rate cut in the United States and the distribution of 47,000 BTC from the assets of the closed exchange Mt. Gox. Traders are concerned that the Bitcoin price could correct further to retest the $57,000 support level, but the derivatives market is showing resilience and shows no signs of stress.Investors pulled out of risky markets as they sought protection.On July 31, the Federal Open Market Committee announced that it had decided to keep…
Company • August 1, 2024 4:49 PM EDT Posted 1 minute earlier In ~ Cryptocurrency exchange Bybit will no longer provide products and services in France.Starting from 8:00 UTC on August 2, French users will not be able to purchase any type of agricultural products, open new positions, or add new positions. According to the company’s announcement, all Bybit products, including Bybit Earn and all spot products, are included in this restriction.French users will be required to liquidate any remaining open positions after 8:00 UTC on August 13. After that, only withdrawals of assets and funds will be permitted.Bybit’s withdrawal…
A prominent cryptocurrency analyst says the native token of the XRP Ledger (XRPL) is set to see an uptrend. Cryptocurrency trader Ali Martinez told his 68,700 followers on social media platform X that XRP needs to break $0.90. “XRP has been consolidating in a symmetrical triangle for 6 years! A bullish breakout could occur if XRP breaks $0.90.” Source: Ali Martinez/X At the time of writing, XRP is valued at $0.587, down 10% in the last 24 hours but up 22% in the last 30 days. Looking at blockchain oracle Chainlink (LINK), Martinez turns to a technical analysis tool used…
Stacks (STX) price is showing a downward trend despite falling more than 12% in 4 days. This downtrend is due to a lack of confidence among STX holders as they already expected a decline. Stack investors turn pessimistic. The STX price is taking a hit from the decreasing confidence of investors who have switched their loyalty despite the slight decline. The negative funding ratio indicates that STX holders are expecting a decline and have started short-term betting. This suggests that there is a bearish sentiment among traders who expect the price to fall. The change in funding rates over the…