Blockchain
Japan’s Active Crypto Trading Population Expected to Hit 500,000 in 2024
According to a study by Bitget, Japan’s cryptocurrency use is expected to remain among the highest in the world, with the number of daily crypto traders projected to rise from 350,000 to around 500,000 by the end of this year. This places Japan’s crypto market size between those of Turkey and Indonesia and about two-thirds the size of South Korea’s market. This strong adoption can be attributed to Japan’s progressive regulations, which have fostered the industry’s growth.
The introduction of new regulations focused on compliance, along with the launch of cryptocurrency ETFs in the US, is anticipated to further boost Japan’s crypto market. This is expected to increase involvement from both institutional and retail investors. Gracy Chen, CEO of Bitget, remarked that Japan’s high awareness of crypto creates a dynamic and rapidly evolving landscape, making it a prime area for new technologies and widespread use.
Japan’s Crypto Market Prioritizes Established Coins
The study indicates that Japanese users will continue to show strong interest in local blockchain projects, particularly in gaming. There is also expected to be increased involvement with NFTs and blockchain task platforms. Significant capital investment is anticipated for one or two blockchain game projects in Japan, potentially establishing them as key players in the global crypto market. Additionally, wallets with transaction aggregation and NFT trading functionalities are likely to gain popularity among Japanese users.
Japanese crypto enthusiasts not only show excitement about the space but are also actively trading, with a preference for established, large-cap coins like Bitcoin and Ethereum, which have been approved by Japan’s Financial Services Agency (FSA). This focus on well-known tokens is likely due to regulations limiting leverage on riskier derivative products.
Unique Aspects of Japan’s Crypto Market
Japan’s crypto market is characterized by active use of popular decentralized exchanges (DEX) like Uniswap and PancakeSwap, as well as a strong preference for local centralized exchanges. For crypto wallets, Metamask leads in popularity, followed by Bitget Wallet, Phantom, Trust Wallet, and Coinbase Wallet.
Japan has a significant history with cryptocurrency, marked by both innovation and setbacks. In 2014, the major exchange Mt. Gox suffered a hack that resulted in significant Bitcoin losses for investors, leading to years of legal wrangling. Recently, Mt. Gox began repaying its creditors, offering hope for those affected.
In a notable development, Japanese tech giant Sony Group entered the crypto market last week by acquiring the crypto firm Amber Japan. This move could substantially impact the gaming industry, allowing players to trade cryptocurrencies securely across various platforms and games.
Source: cryptonews.com
The post Japan’s Active Crypto Trading Population Expected to Hit 500,000 in 2024 appeared first on HIPTHER Alerts.
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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