News & Research

Video-sharing platform Rumble (RUM) has partnered with crypto payments provider MoonPay for its upcoming Rumble Wallet, set to launch in Q3. According to CoinDesk, the wallet will integrate MoonPay’s infrastructure to enable seamless conversions between digital assets and fiat, allowing users to buy, sell and swap crypto directly on the platform.

Snoop Dogg’s first celebrity NFT drop on Telegram sold nearly 1 million collectibles in just 30 minutes, earning $12 million, according to Telegram CEO Pavel Durov, cited by The Block. Minting and secondary trading on the TON blockchain will begin in 21 days. The collection featured vintage cars, swag bags, a digital dog and cannabis-themed items, marking another milestone in Snoop’s long history with NFTs and crypto.

China's Bitcoin miner, BIT Mining (BTCM), announced via its official website a strategic shift to expand into the Solana (SOL) ecosystem, with plans to raise between $200 million and $300 million to build a SOL treasury. The company aims to leverage its infrastructure and expertise to support the Solana network while strengthening its reserves through ongoing acquisitions of SOL tokens.

Bhutan outperformed Germany in Bitcoin sales, according to Lookonchain on X. Between June 19 and July 12, 2024, Germany sold 49,858 BTC for $2.87 billion at an average price of $57,600, missing out on $2.67 billion as those coins are now worth $5.54 billion. Over the past year, Bhutan sold 2,162 BTC for about $188.65 million at a much higher average price of $87,249 across five transactions.

Global NFT sales reached $1.59 billion in Q1 before slowing to $1.24 billion in Q2, Cointelegraph reported, citing data from CryptoSlam. Despite a 45% drop in trading volume to $823 million, NFT sales counts jumped 78% to 12.5 million, reflecting increased transaction activity amid declining prices.

On-chain analytics firm Glassnode reported on X that Ethereum's (ETH) 24-hour futures volume reached $62.1 billion, surpassing Bitcoin's $61.7 billion, a rare occurrence that signals potential shifts in trader focus and positioning ahead of possible Ethereum-specific catalysts.

Australia’s central bank, in collaboration with the Digital Finance Cooperative Research Centre and supported by the Australian Securities and Investments Commission (ASIC), is advancing Project Acacia into its next testing phase to explore how crypto assets and central bank digital currencies (CBDCs) can enhance the country’s wholesale tokenized asset markets, The Block reported. The Reserve Bank of Australia (RBA) will pilot 24 use cases involving stablecoins, bank deposit tokens and a wholesale CBDC, with participation from major banks and fintech firms.

Seven whale or institutional addresses purchased 127,971 ETH ($358 million) over the past 24 hours, according to Lookonchain on X. CoinMarketCap data shows ETH is trading at $2,794.33, up 6.53% over the past day.

The BNB Foundation has announced on its official website the successful completion of the 32nd quarterly BNB token burn by BNB Chain. A total of 1,595,599.78 BNB ($1.024 billion at the time of the burn) was permanently removed from circulation.

The Korea Digital Assets Association (KDAA), a South Korean group focused on advancing the crypto industry, and Jack Kong Jianping, a member of the Hong Kong government’s Task Force on Promoting Web3 Development, have launched a preparatory committee for the formation of an Asia-wide digital asset consortium, according to a report by The Dong-A Ilbo. At a roundtable held in Seoul on July 8, participants discussed the potential issuance and use of stablecoins backed by the Korean won, Hong Kong dollar (HKD) and offshore Chinese yuan (CNH). Other topics included a proposal to establish a multinational public-private digital asset exchange in Asia and the development of a regional cooperation framework to support multilateral agreements in the digital asset space. The event also drew representatives from several Hong Kong-based Web3 companies, including Nano Labs and MAP Protocol (MAPO).