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  • Bitcoin network difficulty reaches record high amid price volatility

    Bitcoin network difficulty reaches record high amid price volatility

    Bitcoin network difficulty reaches record high amid price volatility
    • Bitcoin’s network difficulty hits a record high of 90.67 trillion as of August 2, 2024.
    • Bitcoin’s hash rate reached a record 677 EH/s on July 27th, boosting network security.
    • Bitcoin’s RSI at 44 suggests potentially oversold conditions; the price may test $58,000

    Bitcoin has set a new record for network difficulty, reaching 90.67 trillion on August 2, 2024 according to data on CoinWarz.

    This milestone represents a significant rebound following three months of declining difficulty, signalling renewed confidence among miners in the cryptocurrency’s network.

    The increased difficulty implies that mining new Bitcoin blocks now requires more computational power, potentially driving up operational costs and influencing Bitcoin’s future supply and pricing dynamics.

    Bitcoin’s hashrate also hit an all-time high

    On July 27th, Bitcoin’s hashrate surged to a record 677 EH/s, reflecting a robust and secure network infrastructure. This peak suggests intensified competition among miners and strengthens the network’s resilience against potential security threats.

    A high hashrate not only indicates increased mining activity but also has the potential to positively impact Bitcoin’s price by boosting investor confidence.

    BTC price under increased bear pressure

    Currently, Bitcoin is trading at $63,103.42, showing a 0.17% increase over the past 24 hours. The cryptocurrency has been fluctuating between $62,248 and $65,593, suggesting a mild recovery trajectory despite recent volatility.

    If this trend continues, Bitcoin may avoid the $62,000 resistance level, potentially paving the way for new highs.

    However, the Relative Strength Index (RSI) for Bitcoin is at 44.64, indicating that the cryptocurrency is approaching oversold conditions.

    Bitcoin price

    A declining RSI points to diminishing bullish momentum, and if bearish forces intensify, Bitcoin might test its next support level at $58,000. Further declines could follow if market pressure persists.

    Overall, Bitcoin’s rising network difficulty and hashrate highlight a strengthened and competitive mining environment. These factors are essential for evaluating the network’s health and security as Bitcoin navigates through ongoing price volatility.

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  • Coinbase partners with Lightspark for Bitcoin Lightning Network integration

    Coinbase partners with Lightspark for Bitcoin Lightning Network integration

    • Coinbase’s partnership with Lightspark for Bitcoin Lightning Network integration enhances transaction efficiency.
    • Lightspark’s advanced technology streamlines Lightning Network access, offering low-cost BTC transfers.
    • The collaboration empowers Coinbase with reliable, scalable node infrastructure, driving global financial innovation.

    Coinbase, a leading cryptocurrency exchange, has announced a strategic partnership with Lightspark to integrate the Bitcoin Lightning Network.

    The collaboration aims to revolutionize the way users conduct Bitcoin (BTC) transactions, offering them enhanced speed and cost-efficiency.

    Lightspark, in an exclusive blog post, revealed the culmination of their efforts spanning nearly two years to refine their platform as the premier gateway to the Lightning Network. With Coinbase onboard, clients can now enjoy seamless access to low-cost and almost real-time BTC transfers.

    Lightspark’s advanced technology, including its AI-driven smart engine “Lightspark Predict,” optimizes liquidity and routing for maximum efficiency.

    Coinbase to retain control over Lightning signing keys

    Through Lightspark’s remote-key validation implementation, Coinbase retains control over Lightning signing keys while Lightspark manages the node infrastructure. This ensures a reliable, scalable, and fully optimized node infrastructure for Coinbase users.

    Shan Aggarwal, Coinbase’s VP of Corporate & Business Development, expressed confidence in establishing a global financial ecosystem prioritizing efficiency and speed.

    The integration signifies a significant stride towards achieving this goal, opening doors to a multitude of payment-related use cases facilitated by Lightspark’s innovative solutions.

    Coinbase’s decision to integrate the Lightning Network comes at a time when Bitcoin’s scalability and transaction speed have become critical concerns. With transaction fees on the primary network rising, the Lightning Network offers a promising solution to alleviate congestion and reduce costs.

    The move aligns with Coinbase CEO Brian Armstrong’s vision, who previously highlighted the potential of Lightning Network integration.

    Founded in 2022 by David Marcus, Lightspark has garnered support from key industry players and investors, positioning itself as a frontrunner in Lightning Network solutions. The partnership with Coinbase further solidifies its standing in the market.

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  • Rebel Satoshi ($RBLZ) Shakes Up the Market, Becoming a Top Pick for Crypto Traders Alongside Manta Network (MANTA)

    Rebel Satoshi ($RBLZ) Shakes Up the Market, Becoming a Top Pick for Crypto Traders Alongside Manta Network (MANTA)

    TLDR

    • Manta Network surges 53% in a week, but a pullback is imminent.

    • Rebel Satoshi continues attracting investors after surging 120% thus far.

    As most top altcoins continue bleeding, Manta Network (MANTA) has performed incredibly well over the past week. As a result, investors are flocking to its market, hoping to make significant profits soon. Meanwhile, Rebel Satoshi ($RBLZ), an emerging meme coin, has performed well during its ongoing public presale after securing over $1.5 million thus far.

    Why are investors embracing Manta Network and Rebel Satoshi? Continue reading to discover!

    Manta Network Gains 53% in a Week: More Growth Coming?

    Manta Network has performed impeccably over the past seven days. On January 22, MANTA was changing hands at around $2.44. After trading around this level for three days, MANTA gained momentum on January 24 after Manta Network announced via X that its TVL had surpassed $1.5 billion, making it the third-largest L2.

    This bullish sentiment saw MANTA climb as high as $3.84 on January 28 before bulls got exhausted. As a result, MANTA experienced a slight pullback. By January 29, MANTA had stabilized at around $3.74. This price means MANTA has gained a whopping 53.28% in a week.

    This impressive performance explains why investors are buzzing about Manta Network. But is MANTA a good crypto to buy now? 

    According to experts, MANTA will record marginal losses to close the month at $3.73. Experts peg this prediction on MANTA plunging as the excitement about Manta Network being the third-largest L2 by TVL dwindles.

    Rebel Satoshi Nears Launch After Entering Monarchs Round 4!

    Rebel Satoshi, an upcoming meme coin that aims to eliminate centralization in the crypto space, has become the talk of the crypto-verse after raising over $1.5 million during its public presale. It is worth pointing out that Rebel Satoshi achieved this noteworthy milestone after the first four rounds of its presale sold out in less than three months.

    This project’s rising popularity emanates from its unique mission to unite the silent majority and build a vibrant community that rebels against the unfair rules of centralized entities. Moreover, Rebel Satoshi attributes its success to its native $RBLZ token. Notably, $RBLZ offers investors access to the entire Rebel Satoshi ecosystem.

    By January, Rebel Satoshi was in Monarchs Round 4 of its ongoing presale, with $RBLZ going for $0.022. Thus far, Early Bird Round investors that bought $RBLZ at $0.010 have realized a 120% ROI. This yield could increase to 150% when $RBLZ attains its listing price of $0.025.

    On the other hand, Monarchs Round 4 investors will realize a 13.64% ROI when $RBLZ surges to $0.025. Furthermore, experts predict that $RBLZ will skyrocket when it gets listed on leading DEXs in February. This forecast makes $RBLZ one of the best crypto to invest in now!

    For the latest updates and more information, be sure to visit the official Rebel Satoshi Presale Website or contact Rebel Red via Telegram.

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  • Manta Network (MANTA), SUI, and Pullix (PLX) soar as crypto market takes a hit

    Manta Network (MANTA), SUI, and Pullix (PLX) soar as crypto market takes a hit

    • MANTA, SUI, and PLX defy market downturn, showcasing resilience amid Bitcoin’s decline.
    • Manta Network surges on Bithumb listing and successful airdrop, capturing investor interest.
    • Pullix’s PLX presale gains momentum, offering an innovative “Trade-to-Earn” concept.

    In the midst of a crypto market downturn triggered by Bitcoin’s recent price decline, some altcoins are defying the trend and experiencing significant growth. Manta Network (MANTA), Sui (SUI), and Pullix (PLX) have emerged as standout performers, showcasing resilience amid the broader market challenges.

    Read along as we delve into the reasons behind Bitcoin’s slump and explore the notable rises of MANTA, SUI, and the ongoing presale of PLX.

    Bitcoin’s decline and crypto market plunge

    As Bitcoin faces increased volatility, the entire crypto market has witnessed a notable downturn. Bitcoin briefly dropped leading to millions in liquidations. Although BTC price has regained $40,000, the recent decline in Bitcoin’s price, coupled with broader market uncertainties, led to double-digit losses for various altcoins.

    Investors are grappling with the impact of these market movements, which have contributed to a cautious sentiment and a temporary loss of support for many cryptocurrencies.

    Manta Network (MANTA): defying the odds

    Amid the crypto market turmoil, Manta Network (MANTA) stands out with a remarkable surge. Recent positive developments, including a listing on Bithumb and a successful airdrop for early supporters, have contributed to MANTA’s significant price increase. The token has seen a 30% surge in a single day.

    MANTA price chart

    The token’s resilience in the face of market challenges positions it as a noteworthy player in the decentralized finance (DeFi) landscape, garnering attention from investors seeking alternatives. Surprisingly, Manta’s surge comes against the backdrop of a major DDoS attack.

    SUI token: a rising star

    SUI, another altcoin in focus, has experienced notable growth despite the broader market uncertainties. The recent achievement of surpassing Bitcoin in Total Locked Value (TVL) following the approval of a spot Bitcoin ETF has propelled SUI into the spotlight.

    With a surge of over 8% in the last 24 hours and more than 70% in the last 30 days, SUI is capturing the interest of investors looking for promising opportunities beyond the traditional crypto heavyweights.

    SUI price chart

    Pullix (PLX): shaping the future of crypto trading

    Pullix, an innovative player in the crypto space, is currently in its presale stage, challenging the status quo of traditional exchanges. PLX, the native token of the Pullix ecosystem currently in its presale stage, introduces a novel concept of “Trade-to-Earn,” enabling users to earn rewards from the platform’s daily revenues.

    The platform’s hybrid approach, combining the strengths of centralized and decentralized exchanges, aims to address liquidity issues and provide a comprehensive trading experience.

    The PLX presale is gaining momentum and attracting investors in droves. As of the latest update, Pullix has raised $4,364,732, with a remaining supply of 15.1%. In the current presale stage, the PLX token is going for $0.08, with a price increase expected in a couple of days.

    The presale, scheduled to progress through stages, offers users the opportunity to participate in the early growth phases of the platform. With a fixed supply of 200,000,000 PLX tokens and a strategic allocation across presale, rewards, team, exchange listings, and marketing, Pullix aims to create a robust and sustainable ecosystem.

    Conclusion

    In a crypto market characterized by fluctuations, Manta Network (MANTA), SUI, and Pullix (PLX) emerge as notable players exhibiting resilience and growth.

    While Bitcoin’s recent decline has created a challenging environment, these altcoins showcase the dynamism and diversity within the crypto space. As investors navigate uncertainties, the unique features and positive developments surrounding MANTA, SUI, and Pullix contribute to their standing as intriguing options in the evolving landscape of digital assets.

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  • Manta Network battles DDoS attack after TGE as new Telegram bot steals the show

    Manta Network battles DDoS attack after TGE as new Telegram bot steals the show

    • Manta Network battles DDoS post-MANTA launch; 135M RPC requests flood, causing delays.
    • Bitbot revolutionizes retail trading on Telegram with non-custodial, AI-backed solutions.
    • BITBOT token presale unfolds across 15 stages, offering investors a structured opportunity.

    In a whirlwind of recent events, Manta Network faced a DDoS attack right after the successful launch of its MANTA token, causing a stir in the crypto community. Meanwhile, Bitbot, a Telegram trading bot, is making waves by empowering retail investors.

    Jin us as we delve into the challenges Manta Network is facing and explore Bitbot’s mission to put institutional-grade tools in the hands of individual investors.

    Manta Network DDoS attack

    Manta Network, a modular blockchain protocol renowned for its focus on zero-knowledge (ZK) application development, encountered a significant setback shortly after the launch of its governance token, $MANTA. The network experienced a Distributed Denial of Service (DDoS) attack, as confirmed by the co-founder, Kenny Li.

    This malicious attempt flooded the network with over 135 million remote procedure call (RPC) requests, a coordinated effort to obstruct normal operations.

    Li reassured the community that despite the severity of the attack, the blockchain is running securely, product production continues, and funds remain safe. However, the assault severely limited communication between applications and the blockchain, resulting in delayed transactions and slower withdrawal times.

    Understanding the gravity of the situation, Manta Network swiftly responded, stating that it is working tirelessly to deploy enhanced DDoS mitigation efforts. The attack’s abnormal scale and duration posed challenges, extending the resolution timeframe.

    Bitbot: revolutionizing retail trading

    In the midst of the crypto storm, a new Telegram bot named Bitbot has emerged as a game-changer for retail investors.

    With a mission to provide institutional-grade tools within a non-custodial framework, Bitbot stands as a beacon for those seeking financial autonomy. Built on Telegram, it offers an elegant, user-friendly solution backed by proprietary AI, allowing users full control of their assets.

    Bitbot boasts ultra-flexible wallet management, utilizing non-custodial API technology secured by Knightsafe’s custody solution. Key safety features include an Anti MEV Bot, preventing manipulation of blockchain opportunities, and anti-rug features, safeguarding users against crypto scams.

    Users can seamlessly copy the trades of top-performing traders, enjoy a built-in referral program, and experience easy sign-up with the creation of up to three free wallets.

    Bitbot’s presale launched on January 17 offering 30% of the total supply of 1,000,000,000 tokens up for grabs for earlycomers. The presale spans 15 stages, each with a designated percentage of tokens and token price.

    In the first stage, the BITBOT token is going for $0.01 and the price is expected to rise to $0.0105 in the next stage. The token price will keep on rising with each presale stage meaning the early bird has the opportunity to reap the most.

    Conclusion

    As Manta Network navigates a DDoS attack showcasing its commitment to security and privacy, Bitbot’s emergence as a retail investor-friendly trading bot brings institutional-grade tools to the masses, ushering in a new era of financial autonomy.

    As these entities weather challenges and forge ahead, the crypto community witnesses the evolution of technologies and solutions that promise to redefine the future of decentralized finance and blockchain applications.

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  • WINR Protocol price jumps 37%- here are the key network developments

    WINR Protocol price jumps 37%- here are the key network developments

    • WINR Protocol taps double-digit gains today, up 22% at the time of writing.
    • Gains of nearly 60% in the past month have come amid key network developments.
    • The protocol recently burned 70 million WINR tokens and launched the first on-chain 1000x Bitcoin (BTC) and Ethereum (ETH) futures.

    WINR Protocol, a decentralised iGaming infrastructure platform powered by the WINR token, has seen significant market traction in the past week. Today, the price of the protocol’s native token jumped more than 22% in 24 hours to hit its highest price level since August.

    WINR was trading around $0.05 at the time of writing, up 37% this past week and nearly +60% in the past 30 days. The token was however 57% down since its all-time high above $0.11 reached on March 21 this year.

    The recent gains have come amid a series of major developments for the platform. Is this why WINR price has been rising? Let’s have a look.

    Why is WINR Protocol price rising?

    Cryptocurrencies saw a massive spike in volatility early this week, with mega cap altcoins catapulted to key levels after Bitcoin’s increase to $35,000. This outlook could have aided WINR bulls.

    However, the altcoin appears to have been boosted by the platform’s several development milestones. Earlier this month, the protocol burned 70 million WINR tokens, permanently removing 7% of its maximum supply from circulation. 

    Last week, the Arbitrum community voted to allow the Arbitrum Foundation grant WINR 462,000 ARB to incentivize developer activity.

    These were then followed by this week’s release of the first on-chain 1000x Bitcoin (BTC) and Ethereum (ETH) futures.  The WINR Chain also announced on October 26 that its team was looking at becoming the “go-to execution layer for decentralized iGaming.”

    “With the WINR Game Engine, game providers can build their game logic on smart contracts and seamlessly integrate data with existing UIs,” the platform wrote in an announcement on X.

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  • Coinbase confirms plans of integrating the Lightning Network

    Coinbase confirms plans of integrating the Lightning Network

    coinbase to integrate lightning network
    • Coinbase says it will add support for the Bitcoin Lightning Network.
    • Cathie Wood praises the crypto exchange for the decision.
    • Coinbase shares are down nearly 30% versus their YTD high.

    Coinbase Global Inc has decided to integrate the Lightning Network that aims at making Bitcoin a viable option for faster and cheaper global payments.

    How long will the integration take?

    The crypto exchange had been exploring adding support for the Lightning Network since early August. On Wednesday, Brian Armstrong – its Chief Executive wrote on X (formerly Twitter):

    We’ve made decision to integrate Lightning. Bitcoin is most important asset in crypto and we’re excited to do our part to enable faster/cheaper Bitcoin transactions.

    He did not reveal how long the integration will likely take, though.

    The announcement arrives more than a month after Coinbase reported its financial results for the second quarter that handily topped Street estimates. At writing, shares of the crypto company are down close to 30% versus their year-to-date high.

    Cathie Wood thumbs up Coinbase for the decision

    Note that Coinbase Global is taking after Cash App – the mobile payment service of the California-based Block Inc. Reacting to its announcement today, Cathie Wood of Ark Invest wrote on X:

    Coinbase’s integration with Lightning will give its 100 million users an on-ramp to faster and cheaper bitcoin transactions. Hats off to Coinbase!

    Other notable names who have been vocal in their support for the Lightning Network include Michael Saylor – the Executive Chairman of MicroStrategy Inc.

    The former president of PayPal – David Marcus also reiterated commitment this week to turning Bitcoin into a global payments network (find out more). The price of a BTC is currently about 20% below its year-to-date high.

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  • David Marcus says Bitcoin could be a ‘global payment network’

    David Marcus says Bitcoin could be a ‘global payment network’

    lightspark david marcus bitcoin global payment network
    • Lightspark CEO says Bitcoin could help transform global payments.
    • David Marcus explained his view today on CNBC’s “Squawk Box”.
    • Bitcoin is currently down about 20% versus its year-to-date high.

    David Marcus – the Chief Executive of Lightspark sees a big future for Bitcoin that’s down 20% versus its year-to-date high at writing.

    Bitcoin could transform global payments

    Marcus has a vision for the world’s largest cryptocurrency that goes well beyond its current stature as a store of value only.

    On CNBC’s “Squawk Box”, he asserted that Bitcoin actually had the potential to play a significant role in making global payments as seamless as texting.

    What we’re trying to do is turn Bitcoin into a real global payment network. We’re still in the fax era of global payments. That’s what we’re attempting to solve.

    Marcus finds the existing fintech apps somewhat inadequate in facilitating cross-border payments. He has previously served as the president of PayPal Holdings Inc.

    Bitcoin is not a currency for everyday use

    Lightspark is committed to addressing the scalability issues surrounding Bitcoin and making Bitcoin transactions both faster and cheaper.

    But the goal is not really to turn Bitcoin into a currency that can be used for everyday transactions, he added in his interview with CNBC today.

    Bitcoin on top of Lightning is like a small data packet only for value. You can exchange at edges of network and send dollars to someone who’ll receive Yen or Euros.

    Marcus admitted the need to work closely with the regulators to unlock the full potential of Bitcoin in revolutionising the global payment ecosystem.

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  • Akash Network price jumps 12% to $0.70: What next for AKT?

    Akash Network price jumps 12% to $0.70: What next for AKT?

    • Akash Network price was up 12% in the past 24 hours.
    • The AKT/USD pair reached highs near $0.70, and needs to flip the hurdle into support to strengthen upside momentum.
    • Hype around AI and cloud computing could add to the bullish outlook.

    Akash Network, a decentralized marketplace for cloud computing, has seen the price of its native token AKT jump by more than 12% in the past 24 hours.

    While the resistance level at $0.70 remains key for bears, bulls’ sharp bounce over the past day has AKT trading in a positive trend. With altcoins also mirroring Bitcoin’s trajectory, the latest upsurge could be the base for a fresh attempt at recapturing the coveted $1.00 level.

    Akash Network price prediction

    Selling pressure saw AKT lose the important $1.00 level in May 2022, with lows of $0.22 reached in May this year. Since then, bulls have hit the $0.75 zone twice in the past two months. However, rejection at the level meant a retest of support at $0.50 in mid-July.

    Prices have however remained above an ascending trendline support, suggesting bulls are still determined to reclaim the upper hand. If price breaks above $0.75, it could go on to retest the supply wall expected at $1.00.

    Part of the Akash Network’s bullish momentum is likely to come from the launch of its Akash GPU mainnet. After successfully navigating the testnet in May, with multiple AI models tested on the NVIDIA A100, Akash moved a step closer to offering the first open-source marketplace for HD GPUs. 

    Excitement for what could be AI Supercloud, fueled by massive predictions for the artificial intelligence industry, will likely cascade into the AKASH market.

    Akash Network price chart. Source: TradingView

    The daily RSI indicates that momentum remains with the bulls, a scenario likely to be helped by a strengthening of the MACD indicator. 

    Also key is the continued support of the 50-day exponential moving average, currently providing a base at $0.57.

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  • Ordinals and enterprise adoption drove network revenues for Bitcoin and Ethereum in May: Report

    Ordinals and enterprise adoption drove network revenues for Bitcoin and Ethereum in May: Report

    • Bitcoin revenue jumped 249% YoY in May, while Ethereum network fees rose 53.7% in May, according to a research report by the ETC Group.
    • Ordinals and enterprise adoption drove network revenues for Bitcoin and Ethereum respectively.
    • Regulation and macroeconomics remain key factors even as benefits of tokenisation attracts major banks.

    The current market outlook for Bitcoin and crypto continues to suffer from the flurry of activities around the actions of the US Securities and Exchange Commission (SEC) after it sued Binance and Coinbase. 

    While June started off with wild volatility that has pegged prices below key levels, a new report suggests the market headwinds in May did little to slow down network revenue generation for the world’s two largest blockchains by market cap over the month.

    Bitcoin and Ethereum network growth

    The report by German-based ETP (exchange-traded products) issuer ETC Group highlights a significant jump in network revenue for both Bitcoin and Ethereum over the past month. 

    ETC Group Research team’s Tom Rodgers (Head of Research) and Hanut Singh (a Research Analyst at ETC Group and formely with CoinJournal), shared the outlook via an overview of the biggest trends and events in crypto over the month – from regulation to macroeconomics and adoption as signaled by on-chain data.

    Writing in the Digital Assets and Metaverse Monthly Review: May 2023, Rodgers and Hanut noted that although continued headwinds saw the total crypto market cap flatline near $1.1 trillion. 

    On the macro level, the uncertainty around the US debt ceiling debate weighed on crypto markets. Elsewhere, the regulatory front saw the non-friendly approach by the US SEC and UK’s Financial Conduct Authority (FCA) continue to impact sentiment. 

    However, despite these factors, there was noteworthy growth in terms of network revenue for the leading blockchains.

    “…revenues generated by the two largest blockchains by market cap rose substantially in May due to increasing user bases and new technological developments, most notably Ordinals for Bitcoin, and increasing adoption for Ethereum enterprise solutions,” the ETC Group research team wrote.

    Ordinals helped push Bitcoin revenue up 249% YoY in May

    According to the ETC Group report, the weekly revenue on the Bitcoin network increased by 249% year over year in May. This was largely driven by the spike in Ordinals, which as CoinJournal reported here, saw BTC miners record multi-year highs in transaction revenue.

    The demand for the Bitcoin Ordinals meant transaction fees amounted to 29.57% of monthly revenue for miners – the last time it was that high was during the 2017 bull market that had seen the first real foray into crypto by institutional investors.

    Ethereum network fees jumped 53.7% in May

    For Ethereum, renewed interest in staking was visible in May despite the fears of a major withdrawal rout after the Shapella upgrade. Indeed, as the ETC Group report highlights, the supply of staked ETH on the mainnet rose from 14% to almost 20% at the end of the month. About $46 billion worth of ETH was staked, representing a 200% jump in the percentage of supply locked on the network.

    This has happened even as ETH supply has declined since the Merge. Meanwhile, monthly fees rose by 53.7% in the month – from $241 million in April to $448 million in May. Increased demand for Ethereum blockspace is behind the jump in total network fees, the researchers noted.

    Crypto regulation in the US

    While US presidential candidates Ron DeSantis (R) and Robert F. Kennedy Jr. (D) have indicated support for Bitcoin, the overall outlook on US crypto regulation remains largely hostile even with bipartisan engagements.

    The SEC recently ramped up its crackdown with the lawsuits against Binance and Coinbase, even as the crypto community highly anticipates the outcome of another high profile case between the SEC and Ripple Labs over the XRP token.

    This even as Asia emerged as a strong destination for crypto, led by Hong Kong’s recent regulatory guidelines that have seen OKX, Huobi and other exchanges apply for licenses. The adoption of the MiCA rules by Europe was also a notable event that could make the bloc attractive to more US-based crypto businesses.

    Tokenisation sees major banks eye blockchain adoption

    May also witnessed increased institutional interest in blockchain amid further growth in tokenisation.

    Interest peaked after State Street, the second-oldest US bank, hinted at a move likely to help bring $1.4 trillion worth of assets onto the blockchain via tokenisation of ETFs. The issue of tokenisation and its benefits had also previously been highlighted by the Bank of New York Mellon. 

    That’s also the view of Citibank, which has suggested tokenisation could see up to $4 trillion of liquid and illiquid assets brought on-chain.

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