KLEVA to undergo upgrade and migrate to WEMIX3.0 network

Assemble Protocol’s Native Token Now Supported by Ceffu’s Custody SolutionAssemble Protocol, a blockchain-based global point integration platform headquartered in Hong Kong, has announced a partnership with Ceffu, previously known as Binance Custody, according to South Korean blockchain news outlet Bonmedia.Ceffu serves as the sole institutional custody partner of Binance Exchange, the world’s largest cryptocurrency exchange based on trading volume. It started as a custodian platform in 2021 and underwent a rebranding from Binance Custody to Ceffu in February. Ceffu offers support for a diverse range of digital assets, including BTC, ETH, BNB, LTC, and XRP.Photo by rc.xyz NFT gallery on Unsplash$1M minimum depositThrough this collaboration, ASM, the native token of Assemble Protocol, has been included in the list of Ceffu’s supported assets, enabling ASM holders to securely store their tokens in the custodian’s cold storage. The custody service imposes a minimum deposit requirement of $1 million worth of digital assets.Reward points to ASM tokenAssemble Protocol offers users the ability to unify their reward points obtained from various debit and credit cards into ASM. By integrating these scattered rewards, users can conveniently manage and utilize their points through a unified digital currency. The platform also rewards participants within its ecosystem with tokens based on their contributions. The more participants contribute, the greater their rewards. Moreover, advertisers can pay fees to Assemble Protocol to promote their products within the ecosystem.Park Kyu-do, CEO of Assemble Protocol, expressed his appreciation for Ceffu’s support of ASM, emphasizing the security and transparency it offers for storing assets. Park also mentioned that the collaboration with the Binance ecosystem will lead to further expansion of the protocol.Meanwhile, Assemble Protocol plans to launch mobile and desktop versions of Assemble 2.0 later this year.

Matrixport’s Market Sentiment Index Points Towards Bullish MomentumMatrixport, the Singapore-headquartered digital asset financial services provider, has once again showcased its Bitcoin Greed & Fear Index in forecasting unit price trends relative to Bitcoin. The company has repeatedly pointed to trends indicated by the proprietary index, with its current signals on this occasion pointing towards a potential resurgence of bullish sentiment for Bitcoin (BTC).Potential price resurgenceRecent data from Matrixport’s index demonstrates a notable shift from 30% to 60%, a significant rebound following July’s sharp decline from above 90%. This rebound has caught the attention of Markus Thielen, who serves as the Head of Research and Strategy at Matrixport. Thielen conveyed his thoughts on the current indications provided by the Index in a recent note to clients.Thielen noted that the index appears to have reached its bottom, as the daily signal indicates an impending upward push. This tactical bullishness, following a four-week period of consolidation, raises the possibility of Bitcoin prices resuming their upward trajectory.Historical data comparisonDrawing upon historical patterns, the index’s peaks and troughs, along with its 21-day simple moving average (SMA), have consistently aligned with shifts between bullish and bearish trends in Bitcoin’s value. Currently, the 21-day SMA shows signs of bottoming out, which further bolsters the argument for an upcoming resurgence of positive volatility in the Bitcoin market.Gauging sentimentAt its core, the Greed & Fear Index serves as a gauge for investor sentiment within the cryptocurrency realm. When readings exceed 90%, they signify a state of greed or unwarranted optimism, whereas readings below 10% denote extreme fear or pessimism. These metrics hold a certain significance as they often coincide with market peaks marked by excessive optimism and bottoms marked by intense fear.For the past several weeks, Bitcoin’s price movement has been subdued, oscillating within the range of $28,000 to $30,000. This stagnation has coincided with broader market volatility and anticipations of forthcoming interest rate cuts by the Federal Reserve in the early months of the upcoming year.Analysts are pinpointing consideration by the US Securities and Exchange Commission (SEC) regarding the approval of a spot exchange-traded fund (ETF) as a pivotal catalyst for future price fluctuations given the world’s largest asset manager, BlackRock, has gotten involved. In a recent interview with Forbes, contributor Sam Lyman stated: “A lot of bitcoin ETFs have been filed in the last couple years — but none from an asset manager as high-profile and well connected as BlackRock.”Not an exact scienceMatrixport’s Bitcoin Greed & Fear Index stands as one individual tool which can be utilized in order to arrive at a forecast relative to Bitcoin pricing. Price forecasting is far from an exact science and while it is encouraging that the Index is pointing towards a potential bullish resurgence in Bitcoin’s price movement, market participants will need to remain mindful that markets by their very nature are unpredictable, particularly so when it comes to a nascent asset such as Bitcoin.As the market watches the SEC’s deliberations relative to a Bitcoin ETF closely, the time ahead is likely to hold significant developments that could shape the future trajectory of Bitcoin’s value.

Animoca Brands, a company focused on Web3 and metaverse projects, has gotten together with the Hong Kong subsidiary of British banking giant Standard Chartered to establish Anchorpoint Financial Limited.In a press release published to its website on Aug. 8, Animoca Brands outlined that the joint venture company has been established with the objective of building a business model that will concern itself with the issuance and advancement of licensed stablecoins. The move follows Hong Kong’s Stablecoins Ordinance, which went live on Aug. 1.Photo by Andres Garcia on UnsplashHKT involvementThe partnership also involves Hong Kong Telecom (HKT), one of the largest telecommunications companies in Hong Kong. This collaboration is not something that has just been formed. The trio had been participants in a regulatory sandbox related to stablecoin issuance established by the Hong Kong Monetary Authority (HKMA) in 2024.  Back in February, it emerged that the three companies had entered into an agreement to establish a joint venture with a view towards applying to the HKMA for a license to cover the issuance of a Hong Kong dollar-pegged stablecoin. By June, the companies had formed that company. Applying for a licenseAnchor Financial has already informed the HKMA of its intention to apply for a stablecoin license. A recent Bloomberg report asserted that somewhere in the region of 50 companies have expressed an interest in obtaining stablecoin licensing in Hong Kong. However, the regulator is likely to issue no more than 10 licenses. Additionally, disclosure by the HKMA of strict customer identification rules related to the city’s new Stablecoins Ordinance has sparked concern among industry stakeholders. Know-your-customer (KYC) rules will put an onus on stablecoin issuers in Hong Kong to verify the identity of every stablecoin holder. Bo Tang, head and assistant director at the HKUST Institute for Financial Research, told Reuters that the rules were “a bit too strict and not good for acquiring users.” Ricky Xie, a crypto trader based in Hong Kong, pointed out that these KYC rules aren’t just for those who would hold accounts with the stablecoin issuer, but instead they will apply to every stablecoin holder. A number of Hong Kong stablecoin-concept stocks, that had been performing well in the market, fell by as much as 20% when these stringent rules were disclosed by the HKMA. Evan Auyang, group president of Animoca Brands, expressed contentment with Animoca’s partnership with HKT and Standard Chartered Bank (Hong Kong), while adding:”Stablecoins represent one of the most compelling use cases within Web3, and we believe we are still at the early frontier of widespread adoption across institutions and retail alike. As assets continue to move on-chain, the HKMA-regulated fiat-referenced stablecoin is important in reinforcing Hong Kong’s position as a leading international financial center.” The first stablecoin licenses are expected to be issued by the HKMA early next year.