Survey Reveals Favorable Public Opinion on Binance’s Acquisition of Korean Exchange Gopax

QCP Capital: Bitcoin Has $34K Price PotentialBitcoin’s potential for a significant price rally toward $34,000 has been discussed recently by analysts at QCP Capital, the Singapore-headquartered crypto asset trading firm. Despite Bitcoin’s recent lack of major volatility catalysts, QCP’s analysis suggests that a classic support rebound might trigger the return of the highest Bitcoin prices in over a year.Photo by Kanchanara on UnsplashCrucial price action time-frameAccording to QCP Capital’s latest market update on Tuesday, the upcoming weeks are poised to be crucial for Bitcoin’s price action. The cryptocurrency has been range-bound for months, leaving market observers speculating about the emergence of a new market trend.QCP Capital highlights September as a pivotal month due to the completion of a rising wedge pattern that started during the end of the 2022 bear market. This pattern has guided Bitcoin’s price movement, with the wedge reaching its first termination point at the beginning of September. The specific level of interest is $29,300, which aligns with the current focal point of the Bitcoin spot price.Rally potentialThe analysis ponders whether there will be a sharp rally that pushes the price to the $34,000 resistance level. This scenario has occurred three times this year, as the price kissed the support trendline. The report acknowledges that it might take a few more quiet weeks before the outcome becomes clear. The analysts expressed their intention to buy back their end of September short calls and anticipate going long on end of December volatility in due course.QCP Capital’s perspective aligns with other optimistic views on Bitcoin’s short-term price strength. Some projections even suggest that the 2023 Bitcoin bull market might return by October, although the market sentiment is varied, with some cautioning about the possibility of new lows before a broader recovery.Macroeconomic trendsTurning to macroeconomic trends, QCP Capital indicates that significant change is not on the immediate horizon, echoing the status quo in the crypto space. Comparing the current situation to the compressed trading environment of the crypto winter in 2018 and 2019, the analysis suggests that a macroeconomic shift would be required to reinvigorate the market, similar to what has happened in the past.Bitcoin’s volatility has reached historic lows, as illustrated by data just published by on-chain market intelligence firm, Glassnode. While a game-changing macro environment shift isn’t imminent, there are short-term catalysts on the crypto calendar for the upcoming months.These include events like Mt. Gox creditor payouts, the GBTC vs. Securities and Exchange Commission (SEC) lawsuit, potential SEC decisions on Blackrock/Fidelity’s Bitcoin spot ETF applications, and potential news related to centralized crypto exchanges and stablecoins.The September deadline for comments on the initial Bitcoin spot price exchange-traded fund (ETF) applications is particularly noteworthy, as it’s widely seen as a turning point for the industry. Europe’s first Bitcoin spot ETF, which began trading on Tuesday, is being custodied by Fidelity Investments, marking another step in the maturation of the cryptocurrency market.

Japanese Firm Exec Underscores User Experience and Collaboration in Web3Hiroshi Tsuruoka, the Chief Operating Officer (COO) of UNCHAIN, a Japanese company specializing in Web3 entertainment services, recently underscored the significance of unique experiences and collaboration in the Web3 space. He shared these insights during his conversation with Webmaster Forum, a platform offered by Japanese web content provider Impress Corporation.UNCHAIN, Tsuruoka’s employer, aims to assist companies in entering the Web3 sphere and developing entertainment services that offer users a secure and enjoyable experience. The company provides comprehensive support, including planning, development, and marketing, tailored specifically for the Web3 environment.Photo by Shubham’s Web3 on UnsplashImportance of content qualityDuring the interview, Tsuruoka said that Web3 seems to have lost some of its previous popularity in Japan. Initially, the market experienced rapid growth driven by highly speculative products like NFT artworks and Play to Earn (P2E) games, which attracted participation from many Japanese companies. However, the subsequent downturn of global projects prompted the Japanese blockchain industry to reassess its strategy, recognizing the paramount importance of content quality.Meaningful experiencesAccording to Tsuruoka, the appeal of blockchain games extends beyond their profit potential, deriving more from the unique, enjoyable experiences they offer. He believes that gamers find it meaningful when they play a pivotal role in expanding the gaming market and giving rise to new gaming cultures. Moreover, the incorporation of NFTs in games allows users to retain ownership of their in-game items even if a company discontinues its service, fostering a deeper emotional connection between users and their virtual possessions.This emerging trend fosters a culture of creation, where users, operators, and creators come together in a collaborative space to generate secondary creations and new services. Users delight in actively contributing to this ecosystem and helping it grow.Tsuruoka recognizes that decentralization presents both advantages and challenges. On one hand, it offers individuals greater freedom. However, it also places the full responsibility of data management on the users themselves, in contrast to a centralized environment where the game provider handles data management.Tsuruoka advises against placing excessive emphasis on speculation and financial gain when discussing Web3. Instead, he encourages companies to prioritize delivering meaningful and valuable experiences to users. Tsuruoka believes that emotional experiences, such as owning a distinctive avatar through digital assets, hold tremendous potential in the Web3 realm.Web2 success firstHe asserts that no Web3 project can guarantee success without proving its worth in the Web2 space. Services that proved valuable in Web2 could experience significant growth when combined with Web3 elements.Strong relationshipsTsuruoka highlights the importance of establishing strong relationships between companies and users in the Web3 environment. While platforms like Discord can facilitate these relationships, it is crucial to strategically design user engagement, motivation, and enjoyment before launching a service. Effective community management in the Web3 space requires deep user engagement, which entails ongoing and intensive communication between operators and users.Tsuruoka emphasized the need to heed user feedback. Regardless of the service type, incorporating user opinions and collaborating with them can result in significant community and project growth, with corresponding increases in asset values. He added that this is not limited to the Web3 domain.

Infinite Block Receives Certification for Information Security Management System of Blockchain PlatformSouth Korean blockchain fintech company Infinite Block announced on Monday that it has obtained ISO 27001 certification for the information security management system of its upcoming blockchain platform from Lloyd’s Register Quality Assurance (LRQA), a UK-based global assurance provider.Ramping up information securityISO 27001 is an international standard established by the International Organization for Standardization (ISO) for managing information security. It enables companies and organizations to establish a system that manages information security, cybersecurity, and privacy protection, thereby proving to their customers and partners that they protect important and personal data.Photo by Towfiqu barbhuiya on UnsplashThis latest development comes after the company recently received approval from the Korean Financial Services Commission to function as a virtual asset service provider (VASP), becoming the 37th entity to do so in Korea.“Although we are still a fledgling startup, we have made consistent efforts to establish an information security management system since our inception,” said Jeong Gu-tae, CEO of Infinite Block. “This certification is a testament to our dedication.”Comprehensive blockchain platformInfinite Block is currently developing a blockchain platform set to be launched soon that offers integrated support for virtual asset custody services, including transferring, storing, and managing virtual assets. It also supports various blockchain mainnets and tokens, including Bitcoin, Ethereum, Klaytn, Tezos, Polygon, and Avalanche.“We will continue to enhance and improve our information security system to further solidify user trust,” CEO Jeong added.