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Asia Dominates Adoption, AI Steals VC Spotlight, and More
Chainalysis' newly released "2023 Global Crypto Adoption Index" shows that India, Nigeria, and Thailand are leading in grassroots crypto adoption. Lower middle-income countries are particularly keen on embracing digital currencies, with the broader Asia region playing a significant role.
Recent turmoil in the crypto market seems to have steered venture capital interest towards AI. A report from Transcend Labs indicates that venture funding for crypto has decreased significantly, while AI investments are on the rise.
Boston Consulting Group suggests that by the end of this decade, the crypto sector could balloon to a $16.1-trillion market, driven by the tokenization of real-world assets like art and real estate. Fractional ownership could democratize access to traditionally illiquid assets, but challenges still remain.
Boerse Stuttgart Digital, an arm of the Stuttgart Stock Exchange, is partnering with Munich Re to develop a fully insured cryptocurrency staking service, slated for launch next year. This initiative signifies traditional finance’s deeper foray into the crypto space.
One year after Ethereum's transition to a proof-of-stake (PoS) consensus mechanism, the net supply of Ether has decreased by nearly 300,000. The update has led to a more efficient system where transaction fees are partially burned, contributing to the reduction in supply.
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