CoinFund expands its reach into Asia

Bitget Launches Blockchain4Youth ProjectSeychelles-headquartered crypto derivatives trading platform, Bitget, announced on Thursday the launch of a new corporate social responsibility (CSR) project. The initiative seizes upon an opportunity to execute on a public good while at the same time, benefiting the future prospects of the business itself alongside the overarching crypto space.Blockchain4Youth is a new initiative from the crypto business with the objective of “empowering and inspiring younger generations to use Web3 and crypto tools to create and engage in a decentralized space. ” With this goal, the trading platform believes that a blockchain future can be created.Photo by Jill Wellington on PexelYouth key to crypto adoptionWhile this is a CSR project, it’s easy to interpret it as a win/win. The future success of crypto lies with the younger demographic. They are the ones who are digitally native. They’re the ones that can more easily identify with truly digital money and digitally decentralized systems.Bitget seems to get this according to the statement it issued: “Bitget believes that a blockchain-based future is essential to building better products and tools to help people advance crypto adoption. The platform will be relying on the young generation to promote such ideas and will help them become proactive leaders.”This is telling as it demonstrates firstly that the Seychelles-based platform understands that the younger demographic represents its future customers. But it also clarifies that Bitget understands that future products need to be purpose built to meet the specific needs of that younger demographic.46% of millennials own cryptoIt appears that Bitget’s initiative is further motivated off the back of recent research it carried out. Released last month, that research study reveals that 46% of Millennial respondents said they owned cryptocurrencies, compared to 25% of Gen X-ers, 21% of Gen Z, and just 8% of Baby Boomers.The depth of the study extended to 255,000 survey responses received from respondents distributed across 26 countries, including places as diverse as the United States, Japan, China, Nigeria, Germany, Indonesia, and elsewhere. The study achieved responses per country of at least 10,000 respondents.The research also uncovered that “related statistics compiled on attitudes towards the regulation of digital assets indicate that each successive generation is more likely to factor in the attitudes of electoral candidates towards crypto regulation when casting their vote.”One of the study’s key findings is the following: “By 2030, all Gen Z members will be adults and the spread of blockchain technology by that time could lead to an increase in the percentage of cryptocurrency adopters across all generations. As such, the chances of the growth in acceptance of cryptocurrencies in the coming years are very high.”Broader industry involvementBitget intends to extend involvement in its Blockchain4Youth project beyond the company, with participation coming from other blockchain firms. The press release sets out that “the platform will also collaborate with other leading blockchain firms to incubate innovative projects by young entrepreneurs and host U30 (Under the age of 30) hackathons to identify the most promising ones.”The crypto derivatives platform is kicking things off later this month through a series of campus lectures in Thailand, Vietnam, and Taiwan covering the topic of Web3. As well as being open to collaborating with industry peers, the company also wants educators to take an active role in the initiative.

Despite Bitcoin’s recent decline, a South Korean analyst says investors’ trust in the market remains intact. He added that a U.S. crypto market structure bill, which Congress could approve as early as December, may give investors a chance to buy the dip ahead of a potential rebound. According to Etoday, Hong Sung-wook of NH Investment & Securities, one of South Korea’s major brokerage firms, noted that the crypto market has given back all gains made since mid-October, with Bitcoin briefly slipping below $100,000. Most altcoins also saw steep declines, erasing the advances they posted following roughly $19 billion in liquidations around Oct. 10. In this environment, Solana’s year-to-date performance has turned negative despite the recent launch of spot Solana ETFs in Hong Kong and the U.S., while Ethereum has similarly surrendered its earlier gains.Photo by Michael Förtsch on UnsplashContext from past declinesHong framed the latest pullback in a historical context. Since 2018, Bitcoin has recorded a daily closing price drop of more than 20% on seven occasions. The latest decline of about 21% from peak to trough, he said, is broadly in line with previous downturns. He added that Bitcoin is now less likely to experience the extreme volatility seen in earlier years, citing growing institutional participation and its increasing use in so-called “debasement trades,” or hedges against fiat currency inflation. Building on this, Hong attributed the recent weakness primarily to the liquidation wave and the temporary hit to sentiment. However, he argued that confidence could recover faster than in past stress events, emphasizing that trust in the market has not been fundamentally damaged, unlike in prior downturns triggered by unexpected “black swan” shocks. Policy progress could lift market moodIn the near term, Hong pointed to progress on the U.S. crypto market structure bill as a potential catalyst. Further movement on the bill, he said, could help improve sentiment, similar to the supportive reaction seen around the passage of the stablecoin GENIUS Act. Other market observers have expressed a comparable view on Bitcoin’s outlook. BeInCrypto underscored three key factors supporting its stance in an analysis published on FXStreet. First, citing Glassnode’s Accumulation Trend Score, it noted that Bitcoin has managed to hold above the $100,000 level thanks to a balance between whale sell-offs and continued accumulation by other investors. Second, expectations for U.S. interest rate cuts projected for December are seen as another supportive element. Third, Bitcoin continues to trade above its 50-week moving average (WMA), a technical level that has underpinned the market since BTC moved above it in 2023; even when brief sell-offs have pushed prices below this line, buyers have stepped in to restore it by the weekly close. Warning signs of weakening momentumAt the same time, signals of moderating momentum have emerged. Another BeInCrypto report pointed to CryptoQuant’s Bitcoin Bull Score, an on-chain metric that gauges the asset’s upside potential, which fell to zero on Nov. 6, its lowest level since January 2022, just before the market entered its last major bearish phase. This more cautious tone is reflected in institutional forecasts as well. Crypto financial services firm Galaxy Digital last week lowered its year-end price target for Bitcoin from $185,000 to $120,000. The firm cited heavy whale sell-offs, shifting investor focus toward AI, gold, and stablecoins, and the weak performance of Bitcoin-focused digital asset treasury (DAT) companies as key reasons for its downgrade. Even so, Galaxy Digital said it continues to view Bitcoin as a structurally strong asset.From a longer-term perspective, some high-profile experts have also trimmed their expectations. According to Decrypt, Ark Invest CEO Cathie Wood told CNBC she now sees Bitcoin reaching about $1.2 million in a bullish scenario by 2030, down from her previous $1.5 million target. She attributed the revision mainly to the rapid growth of stablecoins, which are expanding faster than Bitcoin and emerging as a new payment method, a trend she suggested could dilute some of Bitcoin’s potential price momentum over time.

RaonSecure showcases blockchain-based SaaS to student ID card associationRaonSecure, a South Korean tech security company, recently showcased their blockchain-based Software as a Service (SaaS) solution, OmniOne Digital ID, to executives from the International Student Identity Card (ISIC) Association during their visit to RaonSecure’s headquarters in Seoul, as per a report by news outlet Digital Today. The tech firm also proposed a mobile ID project catered to ISIC.Photo by Matese Fields on Unsplash2.5 million student ID cards per yearThe ISIC Association, a non-profit organization registered in Denmark, is renowned for issuing approximately 2.5 million student identity cards each year. These cards are recognized and accepted in 108 countries globally.Various discount programsISIC card holders have access to an extensive range of discount programs at ISIC’s partner merchants. These discounts span a wide variety of industries, offering savings in areas such as accommodation, cultural attractions and travel. This feature of the ISIC card makes it a beneficial resource for students worldwide who are looking to save money while accessing various services and experiences.In October, RaonSecure signed a business partnership with two organizations to develop digital ID-based ISIC on mobile platforms. One of them is KISES Corporation, the Korean branch of ISIC, and the other is smart card service provider Future & More.