Blockchain Press Releases
Bitget Report: Middle East Crypto Market Surges, Daily Traders Up 166% in Year
VICTORIA, Seychelles, April 22, 2024 /PRNewswire/ — Bitget Research, the research arm of the world’s leading cryptocurrency exchange and Web3 company Bitget, has released an in-depth report on cryptocurrency adoption in the Middle East region. The document delves into key aspects influencing the rate of adoption, as well as their impact on user behavior.
Key takeaways:
- In 2024, there was an average of 500,000 daily crypto traders locally, marking a 166% increase year-over-year.
- The UAE leads the region in crypto adoption, with 72% of local users investing in Bitcoin.
- Local countries predominantly rely on global centralized exchanges, with minimal demand for local exchange platforms.
- Crypto adoption in the region is projected to reach 700,000 daily traders by the end of 2024.
- This growth is attributed to favorable local crypto regulations, the approval of Bitcoin ETFs, and the increasing attractiveness of digital assets amid a market upturn.
Centralized exchanges have seen the biggest inflow of users engaged in cryptocurrency trading in the six countries examined throughout the study, with over 500,000 daily active users on average in February of 2024, as compared to 300,000 in February of last year. The UAE has showcased the highest cryptocurrency adoption rate in the region. The approval of BTC Spot ETFs and the continuous rise in the total market value of cryptocurrencies is deemed to be the main contributor to such a rise in interest on the part of local users.
The leading position of the UAE as a hub of crypto activity is not surprising, considering that it has the most crypto-friendly policies in the Middle East. In the meantime, most other countries are gradually improving their cryptocurrency regulations, moving from outright bans to a more compliant approach to stream new investments, projects, and users to their jurisdictions.
The UAE has also seen the highest statistics in terms of interest towards cryptocurrencies, as 29% of users surveyed during the study believe that digital assets offer a more convenient way of holding assets. Another 34% of users are cryptocurrency traders, and 22% use them for daily payments. Users in the UAE have also expressed the highest willingness to invest in BTC and ETH, BTC being referred to as “digital gold” by UAE users, with 72% of the latter investing in the asset.
The research revealed that Middle Eastern countries are heavily reliant on global-level centralized exchanges. Local exchange platforms like Rain and M2 are not even in the Top-10 in terms of absolute traffic. The Bitget research division has attributed such lackluster values to the lower variety and liquidity of tradable assets on local exchanges compared to global exchanges, as well as the convenience of local currency deposit and withdrawal channels available on most global competing platforms.
Decentralized exchanges are also among the go-to venues for users across the Middle East. The primary platforms for P2P trading are based on blockchains like Solana, BSC, and Ethereum, and include DEXs such as Uniswap, Pancakeswap, Raydium, and others. Decentralized exchange aggregators like 1inch and Jupiter are used to a lesser extent. Related analysis of user preferences has uncovered that Trust Wallet, MetaMask, Phantom, Coinbase Wallet, and Bitget Wallet are the Top 5 wallets among users from the Middle East region.
The report released by Bitget highlights in conclusion that cryptocurrency adoption rates in the Middle East are expected to continue rising from 330,000 daily active users in 2023 to around 700,000 by the end of 2024. The main factors influencing such growth are favorable crypto regulation in the analyzed countries, as well as the investment attractiveness of digital assets as a whole in light of a market upturn.
Gracy Chen, Managing Director of Bitget, states: “We are excited about the potential of the Middle East market and anticipate continued growth in both users and market size. The UAE, in particular, holds significant importance as a base within the region. It has emerged as a hub for cryptocurrency talents, funds, and enterprises, while also steadily gaining global influence in the crypto space. We look forward to contributing to and witnessing the further development of this dynamic market.”
About Bitget
Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 20 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.
For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
View original content:https://www.prnewswire.co.uk/news-releases/bitget-report-middle-east-crypto-market-surges-daily-traders-up-166-in-year-302123327.html
Blockchain
Blocks & Headlines: Today in Blockchain – January 28, 2025 (EVIANCX, Abstract, Venice, KPMG, Hashgraph Group)
Blockchain technology and cryptocurrency continue to redefine industries worldwide, driving innovation and creating new opportunities. In today’s edition of “Blocks & Headlines,” we explore major developments across the blockchain space, highlighting new projects, partnerships, and emerging trends.
Blockchain as a Catalyst for Innovation
The blockchain industry’s transformative potential was the focus of a recent report detailing how decentralized technologies are driving innovation in finance, healthcare, and supply chain management. Blockchain’s transparency and immutability are key factors enabling its adoption across diverse sectors.
In particular, the report noted the technology’s ability to enhance trust and efficiency in processes, reducing costs while improving security.
Analysis: Blockchain’s role as a catalyst for innovation is becoming more evident as industries beyond finance embrace its capabilities. The growing interest underscores the need for continued research and development to unlock its full potential.
Source: Cape Gazette
EVIANCX Enhances Cryptocurrency Usage in Latin America
EVIANCX, a leading blockchain platform, has announced new initiatives aimed at increasing cryptocurrency adoption in Latin America. The company is rolling out solutions to address challenges such as accessibility and education, targeting both businesses and individual users.
By simplifying blockchain technology and expanding infrastructure, EVIANCX seeks to empower communities and drive financial inclusion across the region.
Analysis: Latin America’s growing interest in cryptocurrency is fueled by its potential to address issues such as inflation and limited access to traditional banking services. EVIANCX’s initiatives could significantly enhance the region’s blockchain ecosystem.
Source: GlobeNewswire
Abstract: A Consumer Blockchain for the Masses
The launch of Abstract, a highly anticipated consumer-focused blockchain, marks a significant step toward making cryptocurrency more accessible. Abstract aims to simplify blockchain use cases, offering tools and applications designed for everyday users.
By prioritizing user experience and scalability, Abstract is positioning itself as a gateway for mainstream adoption of blockchain technology.
Analysis: Abstract’s approach to consumer-centric blockchain solutions highlights the industry’s shift toward usability and mass appeal. Simplifying complex systems is crucial for bridging the gap between blockchain enthusiasts and the general public.
Source: PR Newswire
Venice Launches VVV Token to Bridge Blockchain and AI
Venice, a pioneering blockchain project, has unveiled the VVV Token, designed to integrate blockchain with artificial intelligence. The token facilitates data exchange between AI systems and decentralized networks, promising advancements in predictive analytics, automation, and decision-making.
The initiative also includes partnerships with tech companies focused on AI and machine learning, ensuring robust support for the token’s ecosystem.
Analysis: Venice’s innovative fusion of blockchain and AI represents a significant trend in tech convergence. By combining these technologies, the project aims to unlock new possibilities for intelligent, decentralized systems.
Source: CoinSpeaker
KPMG India Partners with Hashgraph Group to Drive Blockchain Adoption
KPMG in India has teamed up with the Hashgraph Group to promote enterprise adoption of Hedera’s distributed ledger technology (DLT). The partnership will focus on delivering blockchain solutions tailored to industries such as finance, healthcare, and supply chain management.
This collaboration aims to leverage Hedera’s high-performance DLT to address scalability and efficiency challenges faced by enterprises.
Analysis: Partnerships like this highlight the growing interest in enterprise-grade blockchain solutions. By collaborating with established firms, blockchain projects can accelerate adoption and address real-world business needs.
Source: PR Newswire
Key Trends and Insights
- Consumer-Centric Blockchain: The launch of Abstract underscores the importance of user-friendly solutions in driving mainstream adoption of blockchain technology.
- Blockchain-AI Convergence: Projects like Venice’s VVV Token highlight the potential of integrating blockchain with artificial intelligence to create smarter, more efficient systems.
- Regional Focus: EVIANCX’s initiatives in Latin America demonstrate the growing importance of localized blockchain solutions that address specific regional challenges.
- Enterprise Collaboration: Partnerships such as KPMG India’s collaboration with Hashgraph Group emphasize the role of established enterprises in accelerating blockchain adoption.
- Broader Adoption: Blockchain’s application across industries continues to expand, showcasing its versatility and potential to drive innovation beyond cryptocurrency.
The post Blocks & Headlines: Today in Blockchain – January 28, 2025 (EVIANCX, Abstract, Venice, KPMG, Hashgraph Group) appeared first on News, Events, Advertising Options.
Announces Cornucopia: A Multi-Asset Liquidity Program for Public Mainnet Beta
GRAND CAYMAN, Cayman Islands, Jan. 28, 2025 /PRNewswire/ — The Movement Network Foundation, the organization dedicated to fostering innovation and advancing the adoption of MoveVM technology, today announced the Developer Phase of its Public Mainnet. This phase continues the momentum from December’s initial mainnet release and establishes the foundation for Movement’s Public Mainnet Beta, scheduled for launch in mid-February.
As part of this milestone, Movement Network Foundation also announced Cornucopia, a multi-asset liquidity campaign that will launch alongside Public Mainnet Beta. This comprehensive liquidity program aims to accelerate ecosystem growth by providing the essential foundation for DeFi applications, enabling deeper market efficiency, and fostering increased protocol adoption from day one.
Developed in partnership with Concrete, Veda Labs, Echelon and Canopy, the program will feature several specialized vaults: The BTC vault will feature Lombard, Lorenzo BTC and SolvBTC. The ETH vault will feature EtherFi and Renzo (ezETH). The $MOVE vault will feature Movement’s liquid staking protocols, Thunderhead, Movernance and Meridian. Anchoring the program is a $100M Ethena stable vault, demonstrating significant institutional commitment to Movement’s DeFi ecosystem.
On December 9, 2024, Movement Network’s initial mainnet beta launched with limited functionality, including permissioned smart contracts and commemorative NFTs. It also allowed foundational components to begin deploying, including follower nodes and indexers.
Today, the Developer Mainnet enables ecosystem partners to begin deploying their protocols and apps on Movement’s network. From now through mid-February, development teams will systematically implement core infrastructure and test integrations, ensuring a robust environment for Public Mainnet Beta.
MOVEMENT’S KEY MILESTONES:
Developer Mainnet (January 28):
- Core infrastructure deployment begins
- Selected partners and DeFi protocol implementation window opens
- Technical documentation and developer resources release
Public Mainnet Beta (mid-February):
- Complete network functionality goes live
- Bridge support via LayerZero integration
- Permissionless DApp deployment
“The deployment of Movement Developer Mainnet and Cornucopia marks the beginning of a new era for blockchain development. By structuring our launch to include both technical infrastructure and day-one DeFi liquidity, we’re creating an ecosystem where developers can leverage Move’s robust security features while accessing Ethereum’s massive scale. This coordinated approach ensures we’re delivering immediate value for both developers and users,” said Cooper Scanlon, Co-Founder of Movement Labs.
For more information about Movement’s Developer Mainnet, visit movementnetwork.xyz or follow @movementlabsxyz, @movementfdn, @moveecosystem @Move_Collective on Twitter.
About Movement Network Foundation
Movement Network Foundation is the driving force behind the Movement ecosystem, dedicated to fostering innovation and advancing the adoption of MoveVM technology. The foundation oversees the development of Movement Network, a next-gen solution built using MoveVM that settles to Ethereum. Through its MoveDrop program and ecosystem initiatives, the foundation supports developers, projects, and community contributors building decentralized applications. Learn more at movementfdn.xyz or follow @movementfdn on X.
Video – https://www.youtube.com/watch?v=Z2J-JCHspYc
View original content:https://www.prnewswire.co.uk/news-releases/movement-network-foundation-launches-developer-phase-of-public-mainnet-302361649.html
Mercari Users Can Now Use Mercari to Buy and Sell Popular NFTs Listed on OpenSea
TOKYO, Jan. 28, 2025 /PRNewswire/ — Mercari, Inc. (“Mercari”) announces that on January 28, 2025, it has launched Mercari NFT, an online marketplace for NFTs[1] on Mercari. The new service allows users to use Mercari to buy and sell popular NFTs[2] available on OpenSea, a major NFT marketplace based in the US. This change kicks off the expansion of Mercari’s business from a marketplace for buying and selling physical items into a digital marketplace for buying and selling NFTs.
PressRelease URL：https://about.mercari.com/en/press/news/articles/20250128_mercarinft/
Mercari NFT URL: https://campaign.jp.mercari.com/pages/nft-2501-org-lp/index.html
(available only in Japanese)
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1. Non-fungible token (NFT): A unique digital asset that cannot be falsified or replicated. |
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2. Users can only list NFTs purchased on the Mercari NFT platform. |
Background
In order to realize Mercari Group’s mission of “circulate all forms of value to unleash the potential in all people,” Mercari has continued to grow its marketplace app, which now boasts approximately 23 million monthly active users as well as a cumulative total of over 4.0 billion listings[3]. In addition to the items and money that circulate on Mercari, the company has expanded the circulation of value by increasing payment locations, creating new credit through Merpay, the Group’s payment and credit business, and by making it possible to trade cryptoassets through Mercoin.
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3. As of September 2024 |
In order to further expand the circulation of value, the company has launched Mercari NFT, a marketplace for buying and selling NFTs. Users will now be able to seamlessly purchase NFTs using their Mercari sales balance without having to apply to create a cryptoasset wallet or open a new account. In addition, users will also be able to easily list the NFTs they purchase on Mercari NFT.
From day one of the service launch, Mercari users will be able to buy and sell NFTs from popular projects on OpenSea, a major NFT marketplace. Going forward, Mercari plans to issue and sell NFT contents together with businesses and IP holders in Japan and overseas in a variety of categories including art, trading cards, and entertainment to further expand Mercari NFT as a digital marketplace.
Mercari NFT Information (as of January 28, 2025)
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Item |
Details |
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Features |
– Buying NFTs Users can buy NFTs using the familiar payment methods they use when shopping on the Mercari marketplace, such as Merpay balance and Mercard. Note: Some payment methods are not available. Reference: How to make purchases on Mercari NFT https://help.jp.mercari.com/guide/articles/1902/ (available only in Japanese) – Collecting NFTs Users can view a list of the NFTs they own on the “My items & listings” screen. – Listing purchased NFTs Just like when selling physical items on Mercari, as soon as an NFT sells, the seller receives the profits as sales balance. Reference: How to list items on Mercari NFT https://help.jp.mercari.com/guide/articles/1900/ (available only in Japanese) Note: There is no comment feature on Mercari NFT listing pages and no transaction message feature when buying and selling items. |
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Payment methods |
The following payment methods are available for buying items on Mercari NFT. – Mercari points – Merpay balance – Merpay Smart Payments (lump-sum payment only) – Mercard (lump-sum payment only) Note: For details on payment methods, see the following guide. https://help.jp.mercari.com/guide/articles/1903/ (available only in Japanese) |
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Payments |
Buying Regarding price listings that include handling fees: Listing Note: Once a listed NFT sells and the transaction is complete, the seller pays a selling fee of 10% of the NFT’s listing price. |
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How to |
1. Open Mercari through the Mercari marketplace app or a web browser. (Alternatively, open a web browser and go to https://nft.jp.mercari.com/.) |
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Note: This information may be subject to future change. |
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For detailed information on this feature, see the following guide.
https://help.jp.mercari.com/guide/articles/1896/ (available only in Japanese)
Overview of Mercari
Company Name: Mercari, Inc.
Location: Roppongi Hills Mori Tower, 6-10-1 Roppongi, Minato-ku, Tokyo 106-6118
Main Business Activities: Planning, development, and operation of the Mercari marketplace app
Representative: Shintaro Yamada
For information about using the Mercari logo and icon, please see the page below.
https://about.mercari.com/en/press/press-kit/mercari/
View original content:https://www.prnewswire.co.uk/news-releases/mercari-launches-new-marketplace-mercari-nft-302361735.html
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