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UK Finance Touts Blockchain's Potential for $14.5T Payments Sector

▶️ UK Finance, the country's finance trade body, has highlighted blockchain technology's potential to revolutionize the nation's $14.5 trillion annual payments industry. This endorsement follows successful experiments with the Regulated Liability Network (RLN), a blockchain-based ledger for central bank digital currencies and tokenized assets. The trade group believes the RLN could support innovation, enable programmable payments, and potentially reduce fraud and failed transaction costs.

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Experiments conducted with 11 major banks demonstrated the RLN's capacity to efficiently handle various forms of money. Jana Mackintosh, UK Finance's managing director of payments, emphasized the private sector's readiness to invest in commercial bank money's future, calling for partnership with regulators. While noting the UK's flexible legal framework, the trade group stressed the need for further regulatory engagement to fully develop the system's potential.

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16:04

17.09.2024

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Tether USDT Dominates Stablecoin Market with 75% Share

📈 Tether's USDT, the world's largest stablecoin by market capitalization, has significantly increased its market dominance over the past two years. According to data from Token Terminal, USDT's market share has grown from 55% to 75%, now controlling three-quarters of the entire stablecoin market. This substantial growth underscores USDT's pivotal role as a primary on-ramp from fiat to cryptocurrencies, with its current supply reaching $118 billion.

📌 The stablecoin issuer's financial performance has been equally impressive, generating approximately $400 million in revenue over the past 30 days. This follows a record-breaking first quarter in 2024, where Tether netted over $4.5 billion in profit, largely driven by gains from Bitcoin and gold investments.

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As Tether continues to expand its influence in the crypto space, it has also bolstered its team, appointing former PayPal executive Jesse Spiro as its new head of government affairs and planning to double its workforce to 200 employees by mid-2025, with a focus on strengthening its compliance team.

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15:54

16.09.2024

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Tap-to-Earn Gaming Surges on Telegram, Reshaping Mobile Gaming Landscape

⚡️ Tap-to-earn (T2E) gaming is experiencing a meteoric rise, fueled by its integration with Telegram's massive user base of 950 million. This emerging genre, a subset of play-to-earn (P2E) games, allows players to earn cryptocurrency or tokens by simply tapping their screens to complete simple tasks. The simplicity and accessibility of these games have made them wildly popular, contributing to the projected growth of the P2E NFT games market to $6.3 billion by 2031.

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Telegram's seamless integration of T2E games and the TON blockchain wallet has been instrumental in driving this trend's success. Popular games like Hamster Kombat are leading the charge with community-driven gameplay and regular updates. While the long-term sustainability of the T2E model faces challenges, industry experts view these games as a potential gateway to broader blockchain adoption and more sophisticated applications.

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As the sector evolves, it is expected to incorporate deeper gameplay mechanics and features to maintain its appeal and drive further adoption in the mobile gaming landscape.

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17:22

15.09.2024

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Crypto Market Shows Signs of Recovery, but Bottom Remains Uncertain

📈 Bitcoin's recent rally, pushing it above $59,000, has sparked optimism in the crypto market. The total market capitalization has reclaimed the $2 trillion level, marking a 20.5% increase since August 5. However, analysts are cautiously examining various indicators to determine if the market has truly bottomed out.

🔴 Key factors influencing market sentiment include the upcoming Federal Reserve FOMC meeting, emotional capitulation signals, and Bitcoin miner behavior. The crypto Fear & Greed Index has improved from "extreme fear" to "fear", potentially indicating a buying opportunity. Meanwhile, Bitcoin's network hashrate and mining difficulty have reached all-time highs, suggesting positive sentiment among miners despite recent profitability challenges.

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While these signs point towards a potential market bottom, uncertainty remains high as investors await clearer macroeconomic signals and sustained positive momentum in the crypto space.

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19:27

14.09.2024

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Grayscale's XRP Trust: First Step Towards Potential ETF Launch

🕯 Grayscale Investments has unveiled its XRP Trust, marking a significant milestone in the journey towards a potential XRP Exchange-Traded Fund (ETF). This new trust, currently in the Private Placement stage, allows accredited investors to gain exposure to Ripple's XRP token. The move comes on the heels of favorable legal outcomes for Ripple, signaling growing institutional interest in XRP-related investment products.

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To reach ETF status, the XRP Trust must progress through three more stages: Public Quotation, SEC Reporting, and finally, ETF Conversion. This path mirrors Grayscale's successful strategy with Bitcoin and Ethereum trusts, which were eventually converted into ETFs. As the crypto market evolves, the introduction of the XRP Trust represents a crucial step in potentially broadening public access to XRP investments through regulated channels.

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15:59

13.09.2024

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