Chainlink, a decentralized computing and oracle protocol, Avalanche, known for its layer one (L1) blockchain technology, and GMX, a notable decentralized exchange, have launched Chainlink Data Streams on the Avalanche blockchain. Chainlink, Avalanche, GMX Launch Data Streams on Avalanche Blockchain In communications shared with Bitcoin.com News by the three teams, the announcement notes that Chainlink […]
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Bitwala and Curve Announce Partnership for Digital Wallet Integration
Bitwala, a blockchain banking service based in Berlin, has entered into a partnership with Curve, a digital wallet provider. The partnership is aimed at integrating Bitwala’s services with Curve’s digital wallet. Users can add Bitwala to their Curve Wallet and avail a 1% cashback offer on their purchases for 30 days. The Curve card can […]
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B2BinPay v20 – Boosted Capabilities With TRX Staking and Expanded Blockchain Integration
PRESS RELEASE. The premier blockchain platform, B2BinPay, has been significantly upgraded. The newest version now includes TRX staking and supports a wider range of blockchains, providing clients with increased flexibility and efficiency. The following sections explore how these enhancements improve the user experience with B2BinPay. TRX Staking – Earn Rewards as Transactions are Made A […]
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Ledger Live Enhances User Experience With Crypto.com Pay On-Ramp Integration
Ledger Live has announced a strategic partnership with Crypto.com Pay to integrate its on-ramp digital payments technology into Ledger’s software. This integration will enable Ledger Live app users to conveniently purchase over 300 cryptocurrencies using the Crypto.com Pay On-ramp payment gateway. The new feature, which offers a fast checkout experience for verified customers to buy […]
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EU Watchdog Considers Crypto Integration Into $12.88 Trillion Investment Market
Europe’s securities regulator is seeking input from stakeholders on the potential inclusion of crypto assets in a potentially massive market. The European Securities and Markets Authority (ESMA), the regulatory authority responsible for overseeing financial markets within the European Union, has recently initiated a comprehensive review of the regulations surrounding the Undertakings for Collective Investment in Transferable Securities (UCITS) Eligible Assets Directive (EAD).
This move could potentially enable the integration of cryptocurrencies into a vast investment market valued at approximately €12 trillion (roughly .88 trillion). On May 7, 2024, ESMA released a Call for Evidence seeking input from various stakeholders to assess the viability and implications of allowing UCITS to include a broader array of asset classes, notably cryptocurrencies.
The UCITS framework, central to EU retail investment, accounts for around 75% of all retail investment in collective funds within the region. With its global reputation for strict regulation and investor protection, the inclusion of cryptocurrencies could represent a transformative shift in the investment landscape.
The Next Big Catalyst For Crypto?
ESMA’s review aims to address the evolving financial landscape, where the number and variety of financial instruments have expanded significantly since the UCITS framework was established nearly two decades ago. This expansion has led to uncertainties in determining asset eligibility, causing divergent interpretations and applications of the directive across member states.
Sean Tuffy, a financial regulation expert, underscored the significance of this development to DL News, stating, “If ESMA is convinced, it would be the final step in mainstreaming crypto assets in Europe,” referring to it as a potential “game changer.” This sentiment is echoed by industry experts who believe that the inclusion of crypto assets could provide a robust alternative to traditional investment options, potentially enhancing portfolio diversification and returns.
The Call for Evidence targets a broad audience, including investors, consumer groups, UCITS management companies, self-managed UCITS investment companies, depositaries, and trade associations. These stakeholders are invited to share their insights on market practices, interpretative issues, and practical application concerns related to the eligibility criteria and other provisions of the UCITS EAD.
One of the critical areas of focus is the transversal consistency of key notions and definitions used in the UCITS EAD with other pieces of legislation in the EU Single Rulebook. This alignment is crucial to ensure that any new asset classes, such as cryptocurrencies, are integrated smoothly and consistently across all regulatory frameworks.
Andrea Pantaleo, a lawyer specializing in crypto regulation, highlighted several potential benefits and challenges. He told DL News, “UCITS funds have specific investment limitations depending on the type of assets. We won’t have a 100% crypto UCITS fund, but hopefully many investment funds could hold 1-2% of their liquidity in crypto.”
However, he also pointed out a significant obstacle: the coordination of custody regulations, which must align with the EU’s upcoming Markets in Crypto-Assets regulation (MiCA). MiCA is set to establish stringent rules for the segregation of assets and policies for their safekeeping, which will be pivotal in the custody of crypto assets.
The potential inclusion of cryptocurrencies in UCITS comes at a time when other major economies, such as the US and Hong Kong, have begun integrating crypto assets into their financial products, notably through the approval of Bitcoin ETFs. These developments have not only validated the financial viability of cryptocurrencies but have also spurred significant investment inflows into the sector.
The ESMA consultation process is set to conclude on August 7, 2024, after which the watchdog will compile the feedback and develop its technical advice to the European Commission. This advice will play a crucial role in determining whether cryptocurrencies will be included in the UCITS framework, potentially heralding a new era for crypto investment in Europe.
At press time, the total crypto market cap stood at .202 trillion.
KonnektVPN: Positive Changes in VPN Industry With AI Integration and Fresh Features
PRESS RELEASE. Dover, Delaware, USA, May 7th, 2024 – KonnektVPN is a company that is going to modify the VPN industry, offering a pivotal shift from conventional VPN models. The inception of KonnektVPN signifies a bold departure from traditional approaches, prioritizing user privacy, security, and personalized experiences through the integration of cutting-edge artificial intelligence (AI) […]
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Eclipse And Neon EVM Drive Solana-Ethereum Integration For Blockchain Interoperability
Layer 2 (L2) blockchain Eclipse and developer-oriented bridge Neon EVM have formed a new collaboration to implement changes in the blockchain landscape, increasing interoperability and scalability with the integration of Ethereum (ETH) and Solana (SOL).
Aiming to combine the capabilities of both blockchains, Eclipse has consolidated the compatibility between the Ethereum Virtual Machine (EVM) and the Solana Virtual Machine (SVM) by deploying Neon Stack.
Solana And Ethereum Integration
The primary objective of this collaboration is to integrate Solana’s transaction handling capabilities, which can process thousands of transactions per second, into Ethereum.
This integration will be facilitated by Neon Stack, a standardized development stack that enables smart contract developers to achieve Ethereum Virtual Machine compatibility on Solana Virtual Machine-based blockchain networks. Eclipse plans to leverage Neon Stack on its SVM L2 to facilitate this integration.
The Neon Stack consists of Neon EVM smart contracts and Neon Proxy. It has been live on the Solana mainnet since July 2023. It has deployed numerous Ethereum-native Solidity decentralized applications (dApps), including decentralized finance (DeFi), gaming, and decentralized exchanges (DEXs), on Solana from its existing codebase.
Neon EVM-Eclipse Partnership For Cross-Chain Development
Davide Menegaldo, Chief Commercial Officer (COO) of Neon EVM, expressed enthusiasm for Neon Stack and the collaboration, stating:
With Neon Stack, we are paving the way for high-performance, scalable dApps infrastructure that transcends the limitations of traditional blockchain architectures and redefines computational efficiency. We are pleased to see Eclipse as the first industry partner to utilize the Neon Stack.
On the other hand, Neel Somani, founder of Eclipse Labs, the company behind the development of the Layer 2 blockchain, also emphasized the importance of the partnership, saying:
Our collaboration with Neon Stack enables developers to seamlessly deploy their dApps from EVM chains to Eclipse, further strengthening the harmonization between Solana and Ethereum. Solidity developers who wish to build on a high-performance L2 that leverages the strengths of the SVM can finally do so.”
Interestingly, the Ethereum ecosystem hosts over 13,000 dApps, with only a small fraction, 0.4%, cross-chained with Solana. This collaboration between Neon EVM and Eclipse could also provide further opportunities for developers to build new dApps with the new integration.
In sum, it is believed that developers will be able to build advanced dApps that leverage the features of Ethereum and Solana, along with their respective native ecosystems and virtual machines, by leveraging the design of the NEON Stack and Eclipse.
As of the current update, the native token of NEON EVM, NEON, is trading at .0135. It has shown a 2.6% recovery over the past 24 hours, aligning with the overall positive movement in the cryptocurrency market. However, during the past 7 days, the token has witnessed a price decline, experiencing a nearly 8% drop.
Featured image from Shutterstock, chart from TradingView.com
Telegram Implements Toncoin Payment Integration For Ads, TON Price Sees Impact
Telegram, the renowned messaging platform, recently unveiled a new feature that allows users to promote their channels through advertising. With the launch of this feature, users can now purchase ad space using Toncoins (TON), the native cryptocurrency powered by the TON blockchain.
Telegram Implements TON Blockchain For Ad Payments
Acknowledging the potential for channel owners to generate advertising revenue, Telegram’s announcement highlighted that channels collectively accumulate over 1 trillion views each month.
Realizing this opportunity, Telegram has implemented a revenue-sharing model, enabling channel owners with a minimum of 1000 subscribers to receive 50% of the ad revenue generated from ads displayed on their channels.
The decision to integrate the TON blockchain into this feature was driven by various reasons, as noted in the social media platform’s announcement on Sunday:
We chose the TON Blockchain because it has low fees, high transaction speeds – and holds a record for the number of transactions it can process per second. Anyone can now promote their bot or channel – with budgets as low as a handful of Toncoins. When creating a Telegram ad, you choose the exact channels where you’d like it to appear, so you have full control over their context.
Telegram CEO Pavel Durov had previously emphasized the importance of fast and secure ad payments and withdrawals, expressing that the TON blockchain would be the exclusive platform for these transactions. Durov stated:
To ensure ad payments and withdrawals are fast and secure, we will exclusively use the TON blockchain. Similar to our approach with Telegram usernames on Fragment, we will sell ads and share revenue with channel owners in Toncoin. This will create a virtuous circle, in which content creators will be able to either cash out their Toncoins — or reinvest them in promoting and upgrading their channels.
TON Shows Bullish Momentum
As Telegram unveils these new features and developments that can significantly boost the adoption and usage of the TON token, the cryptocurrency has responded positively.
Over the past 24 hours, TON has surged by more than 5%, reaching a current trading price of .30. This surge adds to its impressive 100% price increase over the past 30 days alone.
Notably, the announcement has also caused a substantial increase in the trading volume of TON, which has soared to 4,869,370 in the past 24 hours. This represents a rise of over 74% compared to Sunday’s trading volume, according to CoinGecko data.
Furthermore, the TON token is approaching its all-time high (ATH) mark of .69, reached on March 25. With the introduction of these new features in Telegram and the notable increase in trading volume, the token appears to be on the verge of setting a new ATH in the coming days if the demand continues to rise.
However, the token must surpass the significant resistance level of .45 for this scenario to unfold. This price level has proven to be a hurdle for the token, as it has attempted three times to break through and consolidate above it to reach a new ATH but has failed. Overcoming this resistance level is crucial before the token can approach new ATH levels.
On the TON/USD 4-hour chart, the support level that could potentially halt a price correction following the recent uptrend is .26. This support level acts as a buffer to prevent a significant downward correction in price.
Featured image from Shutterstock, chart from TradingView.com
0G Raises $35 Million to Fuel AI Integration in Web3 Ecosystem With Modular Innovation
On March 26, 2024, the Web3 modular infrastructure startup 0G secured million in funding from over 40 strategic backers. Representing “zero gravity,” 0G is dedicated to enhancing infrastructure scalability through modular design. Its primary focus is on addressing the essential challenges necessary for the deployment of onchain artificial intelligence (AI) solutions within the Web3 […]
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Bitcoin.com Announces Integration of VERSE Token With BitPay for Expanded Payment Options
Bitcoin.com, a leading figure in the world of cryptocurrency and blockchain technology, is thrilled to announce a significant enhancement to the utility of its ecosystem token, VERSE. In a groundbreaking collaboration, VERSE has now been integrated with BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services. This integration heralds a new era of […]
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