Blockchain Press Releases
Cheaper and Safer Sodium-Ion Batteries on the Horizon, Reports IDTechEx
BOSTON, July 14, 2023 /PRNewswire/ —
Diversification in the Energy Storage Industry Is Foreseeable
As the world progresses rapidly towards electrification, the energy storage industry is increasingly reliant on critical raw materials such as lithium and cobalt. Diversification of battery chemistries is critical for long-term capacity growth. It should be self-evident that no single battery chemistry possesses all the attributes for every single application – each market has its nuances and requires unique solutions. The sodium-ion (Na-ion) chemistry will certainly not be the answer for all applications; however, it will be well-suited to complement, rather than displace, the existing and future lithium-ion technologies in many applications. Concerns of energy security and geopolitical considerations in the supply chain also drive nations without local access to lithium-ion raw materials to seek alternative chemistries to meet energy storage demands.
Small Pilot Plants and Big Plans
Currently, mainly pilot plants are running, and a few smaller factories are starting up, which only produce a few gigawatt hours (GWh) of Na-ion batteries per year, but the capacities that have been publicly announced by various raw material manufacturers alone add up to well over 100 GWh over the next three years. However, once the production processes are known, it takes less than two years to build up further capacities. By 2025, significantly more capacity can be built up than has been financed so far if investors are found for it in the course of 2023. The forecast of a radical conversion of a large part of the industry to a new technology in a few years may sound bold, but in the last five years alone, this has happened twice in the battery industry with NMC811 and LFP. Na-ion requires hardly any new plant technology, just different starting materials and production parameters. The latest report from IDTechEx, “Sodium-ion Batteries 2023-2033: Technology, Players, Markets, and Forecasts“, covers the global commercialization efforts of Na-ion batteries by analyzing patents and finds that China is taking the lead once again.
Outlook: Demand Not Limited by Lack of Raw Materials
IDTechEx forecast that by 2025, around 10 GWh of Na-ion batteries will be installed as significant manufacturing capacities come online and existing Li-ion lines are converted to Na-ion production. Success (or failure) for one player can significantly impact the market. A CAGR of 27% is expected for the period 2025-2033. Growth follows a similar market growth rate as that of Li-ion batteries. Over the next 10 years, the addressable markets will likely be far higher than the expansion of Na-ion supply chains and manufacturing capacities or even demand. But there may be potential for more rapid growth than forecast once the technology is trusted, qualified, bankable, available, etc. Importantly, Na-ion is a drop-in technology to Li-ion’s current production lines. Gigafactories can be retrofitted to produce Na-ion cells relatively quickly. The production capacities of the material manufacturers also indicate that significantly more companies will build their own sodium batteries in 2024 and that there could be much larger capacities in 2025.
Significant Savings Over LFP Are Unlikely Initially
There is currently no cost-effective battery technology with an energy density between lead and lithium batteries. According to IDTechEx research, the average cell cost for Na-ion batteries is US$87/kWh taking different chemistries into account. By the end of the decade, the production cost of Na-ion battery cells using primarily iron and manganese will probably bottom out at around US$40/kWh, which would be around US$50/kWh at the pack level. Na-ion cells are likely to come at a price premium initially, but IDTechEx expect a drop in cost/price in the short term through manufacturing efficiencies, scale, and technology development. However, long-term cost reductions become harder as technology and manufacturing become more established and mature. The IDTechEx report includes modeling of various Na-ion chemistries with a breakdown of the material and prices.
Sodium Is Not the End for Lithium
For most EVs, volumetric energy density is the first or second priority because the more space a battery cell takes up for a given energy density, the fewer cells you can squeeze under a vehicle, limiting range. For grid storage, the space that the battery packs take up doesn’t affect their commercial viability, and the priority is the cost per kWh per cycle. Commercial energy storage is all about cost control, and this is where sodium ions can potentially dominate other chemistries. The greatest potential in transport applications for Na-ion batteries exists wherever the energy density of lithium batteries is not fully utilized. This includes almost all electric cars with a so-called standard range, i.e., reduced battery capacity compared to more expensive models of the same construction. There, sodium batteries with higher charging speeds and less capacity loss in cold temperatures could represent a very attractive alternative. Above all, thanks to this alternative energy storage technology, lithium batteries will be available where they are truly indispensable.
To find out more about the IDTechex report “Sodium-ion Batteries 2023-2033: Technology, Players, Markets, and Forecasts“, including downloadable sample pages, please visit www.IDTechEx.com/Sodium.
About IDTechEx
IDTechEx guides your strategic business decisions through its Research, Subscription and Consultancy products, helping you profit from emerging technologies. For more information, contact [email protected] or visit www.IDTechEx.com.
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Blockchain Press Releases
Bitrue expands Bitcoin Runes Offerings with GPTV Listing and Staking Options
VICTORIA, Seychelles, May 3, 2024 /PRNewswire/ — Leading digital asset exchange Bitrue continues its community-driven approach with the listing of a new Bitcoin Runes token, GPTV•AI•PEPE•KING (GPTV). This follows the recent addition of several other Bitcoin Runes tokens to the platform, including SATOSHI•NAKAMOTO (SATOSHI), LOBO•THE•WOLF•PUP (LOBO), RSIC•GENESIS•RUNE (RSIC), and DOG•GO•TO•THE•MOON (DOG). Trading for the GPTV/USDT pair commenced on April 30th, 2024.
What is GPTV?
GPTV is the native token of AI PEPE KING, a project claiming to be the “largest AI Meme Community” with a presence on both the Polygon (AIPEPE) and Bitcoin Runes (GPTV) blockchains. Notably, AI PEPE KING secured a $10 million investment to develop AI-powered customer service tools leveraging the ChatGPT technology. Additionally, they are building a “Dream Lottery” system. Revenue generated from these products is earmarked for buybacks and burns of both AIPEPE and GPTV tokens, potentially influencing their long-term value.
Staking Opportunities with Attractive Yields
Bitrue is also offering users staking opportunities for those holding BTR, AIPEPE, RSIC, or DOG tokens. By staking their holdings, users can earn rewards in GPTV, with estimated annual percentage yield (APY) varying on the staked token, with BTR offering 22.15%, AIPEPE at 23.18%, RSIC boasting a higher 31.37%, and DOG coming in at 23.62%. These yields present a potentially lucrative opportunity for users to grow their cryptocurrency holdings, but also come with financial risk and the potential for investment to return much lower yields.
Bitrue’s Focus on Community Engagement
The listing of these Bitcoin Runes tokens is a testament to Bitrue’s commitment to its user base. The decision to add these tokens stemmed from a community poll conducted through an X poll on Bitrue’s X account. This highlights the exchange’s dedication to incorporating community feedback into its decision-making process, fostering a sense of collaboration and shared interest.
With the addition of GPTV and the introduction of staking opportunities, Bitrue continues to expand its offerings for users interested in the burgeoning world of Bitcoin Runes tokens. The exchange’s focus on community engagement further strengthens its position as a platform that prioritizes user input and satisfaction.
About Bitrue
Launched in July 2018, Bitrue is a diversified digital asset exchange that supports trading, loans and investments. Bitrue aims to utilize blockchain technology to bring financial opportunities to everybody regardless of their location or financial position. With offices in Asia and Europe, the business continues to develop new features at a rapid speed to fully service the new wave of the digital economy. More information is available at Bitrue’s website.
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ZettaBlock, a leading provider of blockchain solutions, has recently announced a significant enhancement to its offerings with the addition of blockchain data services. This development marks a strategic move aimed at bolstering ZettaBlock’s capabilities and further solidifying its position in the blockchain industry.
By integrating blockchain data services into its portfolio, ZettaBlock seeks to address the growing demand for comprehensive and reliable data solutions within the blockchain ecosystem. The new offering will enable clients to access a wealth of blockchain data, empowering them to make informed decisions and derive valuable insights from the vast amount of information available on various blockchain networks.
ZettaBlock’s decision to expand its services comes at a time when the importance of blockchain data analytics is increasingly recognized across industries. With blockchain technology continuing to gain traction and adoption worldwide, the ability to effectively harness and analyze blockchain data has become crucial for businesses and organizations seeking to unlock new opportunities and drive innovation.
Through its blockchain data services, ZettaBlock aims to cater to the diverse needs of its clients, providing them with access to real-time and historical data from a wide range of blockchain networks. This includes transaction data, smart contract metrics, network activity, and more, allowing users to gain deeper insights into blockchain transactions and activities.
The addition of blockchain data services represents a significant milestone for ZettaBlock, underscoring the company’s commitment to delivering cutting-edge solutions that meet the evolving needs of the blockchain industry. As businesses increasingly recognize the value of blockchain data in driving decision-making and enhancing operations, ZettaBlock’s comprehensive data services are poised to play a key role in shaping the future of blockchain analytics.
Source: cryptonewsz.com
The post ZettaBlock announces the addition of blockchain data appeared first on HIPTHER Alerts.
Hong Kong has entered the cryptocurrency ETF market with the debut of its first spot cryptocurrency exchange-traded funds (ETFs) on Tuesday, signaling the city’s ambition to compete with the US in the rapidly growing sector.
The launch, led by the Hong Kong units of three mainland Chinese asset managers — Bosera Asset Management, Harvest Global Investments, and China Asset Management — saw the introduction of two ETFs each tracking bitcoin and ether prices. Bosera’s funds were launched in collaboration with HashKey Capital.
On their debut, the three bitcoin ETFs closed between 1.5% and 1.8% higher, while the ether ETFs experienced slight losses of between 0.5% and 0.8%. Despite this, total trading turnover for all six ETFs, which included trading in US dollars, Hong Kong dollars, and renminbi, reached approximately HK$99.5 million (US$12.7 million). In comparison, US-based funds saw turnover exceeding $4 billion on their first trading day.
The move marks Hong Kong’s commitment to becoming a significant player in the cryptocurrency space, following its announcement in 2022 amid pandemic restrictions and increased Chinese oversight. Joseph Chan, Hong Kong’s under-secretary for financial services and the treasury, emphasized the city’s leading position in Asia’s crypto asset development during the ETF listing ceremony.
Prior to this, CSOP Asset Management had launched Hong Kong’s first bitcoin and ether futures ETFs in late 2022, following the publication of rules for spot ETFs by the Securities and Futures Commission in December.
In January, the US Securities and Exchange Commission approved the country’s first spot bitcoin ETFs, which have since attracted significant assets under management and net inflows. Robert Zhan, director of risk consulting at KPMG China, remains optimistic about the potential of the Hong Kong funds, despite current market sentiments and relatively flat prices of bitcoin and ether leading up to the launch.
The launch of crypto-linked funds by major Chinese asset managers has generated excitement within the industry, despite China’s strict cryptocurrency regulations. Donald Day, COO of Hong Kong-based digital asset exchange VDX, believes the new funds will cater to active investors unable or unwilling to trade during US hours.
Source: ft.com
The post Hong Kong joins global crypto ETF race appeared first on HIPTHER Alerts.
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