News & Research

Crypto exchange Binance is extending its lead in trading of newly listed tokens, outpacing rivals by a wide margin, according to an X post by The Data Nerd, which cited a CryptoQuant report. The study shows Binance handled $133 billion in new token trading volume this year, compared with $38 billion at HTX and $35 billion at Bybit. Binance has also dominated daily market share, capturing 34% of new token trading on Aug. 13 and peaking at 54% on July 10.

Kim Nam-kuk, South Korea’s presidential secretary for digital communications, was acquitted on appeal of charges that he falsified parliamentary asset disclosures to hide large cryptocurrency holdings, Yonhap News reported. Prosecutors said that before filing asset disclosures in 2021 and 2022, Kim moved part of his crypto exchange deposits into bank accounts to adjust his reported assets, then converted the remainder back into digital assets, obstructing an ethics review of officials’ disclosures. He was indicted in August last year.

Cointel, an AI-powered platform for cryptocurrency education, intelligence and trading support, has raised $7.4 million in a funding round led by Avalanche (AVAX) and Web3 firm Sugafam, The Daily Hodl reported. The company said the funds will be used to develop its proprietary platform.

In the past three weeks, capital entering the crypto market dropped sharply, with net inflows falling 24% to $66.5 billion, according to crypto analyst and trader Ali Martinez on X.

DBS Bank, Singapore’s leading financial institution, has issued an Ethereum-based tokenized structured note, CoinDesk reported. The product will be distributed through local exchanges ADDX, DigiFT and HydraX, marking DBS’s first tokenized securities offering for external accredited and institutional investors.

DigiFT, a real-world asset (RWA) exchange in Singapore licensed by the Monetary Authority of Singapore (MAS), announced on its official website that it has closed a new strategic funding round led by Japanese financial conglomerate SBI Holdings, bringing its total funding to $25 million. The capital will be used to expand tokenized investment products, enhance secondary market liquidity for RWAs and increase their on-chain utility.

An anonymous whale address, believed to be an institutional investor, sold 10,000 ETH ($43.35 million) through Wintermute OTC and later deposited USDC into Aave V3, according to OnchainLens on X. The address still holds 10,000 ETH and $535 million in USDC on Aave V3.

Coinbase CEO Brian Armstrong stated via X that he believes Bitcoin will reach a unit price of $1 million by 2030. He cited regulatory clarity, the U.S. government's strategic Bitcoin reserve and growing interest in cryptocurrency exchange-traded funds (ETFs) as factors contributing to the likelihood of Bitcoin reaching the $1 million milestone.

David Lawant, a market analyst at FalconX, has expressed the view that Bitcoin market structure remains very robust. According to CoinDesk, he asserted that looking at the Bitcoin order book, sell orders quickly disappear, with buy orders taking over. The firm sees rapid disappearance of sellers and a surge in buyers when the price declines slightly. Lawant believes that this demonstrates strong demand, suggesting that investors are using short-term dips as buying opportunities.

The $208 billion New York State Common Retirement Fund increased its Bitcoin (BTC) exposure by 143% in the second quarter, according to The Bitcoin Historian on X.