{"id":50769,"date":"2023-07-03T23:42:01","date_gmt":"2023-07-03T23:42:01","guid":{"rendered":"https:\/\/lydian.io\/?p=50769"},"modified":"2023-07-03T23:42:05","modified_gmt":"2023-07-03T23:42:05","slug":"asia-express-cointelegraph-magazine-4","status":"publish","type":"post","link":"https:\/\/lydian.io\/asia-express-cointelegraph-magazine-4\/","title":{"rendered":"Asia Express \u2013 Cointelegraph Magazine","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"
<\/p>\n
Throughout a June 28 interview with Hong Kong's public broadcaster, Radio Tv Hong Kong, stated Peishan Li, CEO and board member of Grasp Seng Funding Administration disclosed<\/a> that HKSAR-listed digital asset ETFs have over HK$12 billion (US$1.532 billion) in belongings underneath administration. Li remarked:<\/p>\n \u201cAt the moment there isn't a clear aim [from our firm] to create an ETF on digital belongings, however has paid shut consideration to the event of associated asset lessons and is exploring the potential for utilizing digital currencies in present funding merchandise.\u201d<\/p>\n In response to Li, the entire belongings underneath administration of Hong Kong's cryptocurrency ETFs have elevated by 80% in comparison with December 2022, with a each day buying and selling quantity of HK$1.7 billion. This equates to six% of the each day buying and selling quantity of all shares on the Hong Kong Inventory Alternate. The SAR allowed crypto ETFs to checklist again in July 2022, which initially struggled to achieve a foothold.<\/p>\n On July 2nd, Binance co-founder and former Chinese language TV host Yi He warned<\/a>\"Please don't belief the neighborhood's buying and selling indicators blindly monitoring increased costs,\" noting that the costs of main altcoins \"have fallen 80-90% just lately.\" The warning got here simply days after the change listed MAV, the token of permissionless decentralized finance protocol Maverick, and provided perpetual MAV contracts with 20x leverage.<\/p>\n Launched in March, Maverick has a complicated automated market maker liquidity supplier community that secured a $9 million funding spherical in June. The protocol is endorsed by outstanding names similar to Bounce Crypto, Pantera Capital, Circle, and Gemini. Since its inception, the protocol has achieved a complete worth of almost $55 million.<\/p>\n Shortly after itemizing, the MAV on Binance skyrocketed to $1.98 apiece earlier than plummeting to $0.43 at press time, which continues to be effectively above the unique itemizing value of $0.05 lies. He wrote:<\/p>\n \u201cIn response to earlier cycle historical past, there are a number of occasions on the primary day of an IEO [return]and it isn't in step with the present market state of affairs to extend it to 10x or 20x [return]. Please DYOR.\u201d<\/p>\n Amid the buying and selling frenzy, the Binance co-founder additionally warned, \u201cThe worth of tokens just isn't managed by Binance.\u201d The worth is influenced by each patrons and sellers. Please pay attention to funding dangers.\u201d Regardless of a thaw in crypto markets, the market cap of cash and tokens excluding Bitcoin stagnated at round $550 billion final 12 months.<\/p>\n additionally learn<\/p>\n traits<\/span><\/p>\n All the most effective for the robotic choose: AI and blockchain might rework the courtroom<\/p>\n Asia Specific<\/span><\/p>\n Hong Kong Crypto Frenzy, DeFi Token Soars 550%, NBA China NFTs \u2013 Asia Specific<\/p>\n Whereas not almost as standard as her counterpart Changpeng Zhao, he's chargeable for Binance's general advertising and marketing technique and branding, and is credited with the change's rise to prominence. She now additionally serves as director of Binance Labs. She can also be Zhao's accomplice, each on a enterprise and romantic stage, with the 2 having two kids collectively.<\/p>\n Yi He seems in a Binance promoting marketing campaign. (Binance)<\/p>\n
\n<\/p>\nBinance co-founder warns of altcoin flood<\/h2>\n
The Chinese language DeFi protocol has been hacked once more<\/h2>\n