Coin circle news focus:

  • Regulators from many countries join forces to promote "asset tokenization" and explore digital asset applications

  • With the rise of CME, traditional financial investors are optimistic about the prospects of Bitcoin?

  • Solana peaked at $3,211! VanEck is bullish on SOL coin

The currency circle boss said this:

  • Crypto Koryo: "Is the cryptocurrency bull market coming? The macro is not good."

Critical hit chance this week:

  • Fancy: "Potential airdrop ambush! Scroll mainnet is online"

Prices of Bitcoin and other cryptocurrencies | CoinGecko Top 100 Cryptocurrencies (2023.10.28 AM 08:00 ~ 2023.10.29 AM 08:00

Coin News Focus

Global regulatory agencies join forces to promote "asset tokenization" and explore digital asset applications

With the increasing global interest in blockchain technology and digital assets, financial regulatory agencies in Singapore, Japan, the United Kingdom and Switzerland, including the Monetary Authority of Singapore (MAS), the Financial Services Agency of Japan (FSA), and the British Financial Conduct Authority (FCA) and others recently announced that they will join forces to launch a series of asset tokenization test projects, Project Guardian.

This time, Project Guardian will conduct tokenized tests on fixed income, foreign exchange and asset management products to understand the opportunities and risks that digital asset innovation will bring. There will be corresponding pilots and sandbox tests. It is worth noting that this plan is mainly to test the applications related to the central bank’s digital currency CBDC, and may not involve the existing public chain ecosystem.

 

With the rise of CME, traditional financial investors are optimistic about the prospects of Bitcoin?

The trading volume of the Chicago Mercantile Exchange CME has climbed recently. According to CoinGlass data, CME ranks second with open interest OI worth $3.54 billion, reaching a record high of 25% in terms of average Bitcoin futures market share. The current top spot is still the overseas exchange Binance, with an open interest of $3.83 billion, only 8% higher than CME.

Some people in the industry believe that this means that traditional financial markets have begun to enter the Bitcoin market through CME. However, André Dragosch, research director of Deutsche Digital Assets, believes that the main reason for the increase in CME’s share is not because the traditional market is optimistic. Under the conditions of Bitcoin pricing, the total amount of Bitcoin futures and perpetual contracts has not increased, which means that going long futures positions were not the main driver of open interest growth.

 

Solana peaked at $3,211! VanEck is bullish on SOL coin

Asset management firm VanEck predicts that Solana (SOL) will see price growth of up to 10,600% by 2030, with valuations ranging from a conservative $9.81 to an extremely ambitious $3211.28. Meanwhile, Ethereum has a price target of $11,800.

In the report, VanEck described Solana's potential to become the first application blockchain platform with more than 100 million users in the future, and simulated Solana's future potential to gradually narrow the gap in competition with Ethereum. Since the beginning of 2023, SOL Coin has become a top ten cryptocurrency by market capitalization, growing by more than 200%, and the current total value locked in the Solana ecosystem is approximately $378 million.

SOL coin price was trading at $34.92 at press time, up 8% in the past seven days.

 

Other currency news

  • The modular Layer1 public chain Celestia is launched on the mainnet. It is expected to airdrop the native token TIA on January 1, 2024. The target is limited to active developers and pledgers on Ethereum Layer2.

 

  • Uniswap DAO launched a vote to invest $12 million worth of its native token UNI into the decentralized exchange project Ekubo in exchange for 20% of future potential governance tokens.

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