There are many crypto wallets on the market to choose from, but the offering from Infinity is proving popular among digital asset holders. 

Here, we take a deep dive into the Infinity [crypto wallet](/news/article/best-crypto-wallets), what it is, how it works, and the organisation behind the tech. 

## What’s behind Infinity crypto wallet? 

Infinity describes itself as an ‘all-in-one” non-custodial wallet ecosystem. It claims to be the first multi-chain, non-browser-extension, non-custodial wallet to hit the market. In a crowded crypto wallet marketplace, it’s necessary to make bold claims to stand out. 

Infinity crypto wallet launched with a desktop version, soon followed by a mobile app, with the company now claiming to support hundreds of thousands of users. 

It has been very public about its mission, spelling out its strategy in a [funding pitch](https://communityfund.stellar.org/projects/infinity-wallet-scf-14). That included identifying some of the initial core team members behind Infinity, including [Team Lead Aaron B](https://www.linkedin.com/in/aaron-b-418020a5/), who has experience in UI/UX design and software development as well as more than 10 years of involvement in crypto, and [Tech Lead Juan Dominguez-Adame](https://www.linkedin.com/in/juan-dominguez-adame-0480a0120/), whose background is in hardware and software development. 

The purpose of the Infinity project was to create a seamless solution for cross-border DeFi payments which would be a gateway to the world of Web3. 

The company states its focus has been on providing the best user experience and most accessible tool to allow for the adoption of Web3 and DeFi. It aims to be the 'complete solution' for crypto users by having everything they need in one place and offering a seamless user interface. 

Infinity is also committed to continuous growth and evolution of its products, adding new features and services to meet changing demands and needs. 

## What is Infinity Wallet for? 

The team behind Infinity says it is the first desktop platform giving users complete access to Web3 and DApps without leaving their wallets. It incorporates a Web3 browser and DApp/Web3 store within the platform, removing reliance on browser extension wallets. 

They claim this delivers a safer, more accessible, and ‘superior’ experience for users, which will enable simpler adoption and use. 

Infinity's mission statement is to be a world-leading digital asset enabler by offering a one-stop wallet that meets all of the needs of cryptocurrency users. The company says it will meet this ambition through a user-first approach, making interaction, monitoring, trading, and transacting in the decentralised environment more straightforward and more secure. 

Launched in 2020, it is claimed there are currently more than 227,000 Infinity crypto wallet users in over 170 countries. The wallet supports more than 150,000 digital assets. 

## Vision and values 

The Infinity Wallet team is very vocal about its goals and values. 

The simplified version of its vision is to empower people to experience a better future through the use of blockchain technology. This will, it says, ‘liberate’ wealth globally. 

Blockchain tech can bring improvements to all aspects of our lives, Infinity adds, as well as delivering improvements across industries including finance, gaming, and transport. 

Underpinning this mission are 'fundamental values' that shape what Infinity does, how it does it, and who it hires. Throughout its planned expansion and development, these values will never be compromised, it promises. 

## How does Infinity crypto wallet work? 

Inside the Infinity crypto wallet you’ll find a dashboard laying out the features. These include checking the wallet balance over different periods, as well as a simple way to view your current assets, facilitated with a search bar making it easier to locate the asset you are looking for. 

Click on ‘My Wallet’ and you’ll see all the coins and tokens in your wallet. While some are added by default, you can customise the experience to ‘Add Custom Tokens’ so you can see everything you need. 

It also includes an option to store and view your NFTs, with a simple click, and use the NFT marketplace. 

With simplified usability as a core part of the Infinity crypto wallet proposition, it has an easy-to-use interface. On the dashboard, you can find ways to quickly navigate to Swap, Transactions, News, Market Stats, and DApps options. 

Security is, obviously, a concern [with any wallet](/news/article/what-is-blockchain-wallet). The Infinity Wallet encrypts users’ private keys and data on their devices to increase security. Only the user is granted access to the wallet and private keys to maintain privacy. 

Infinity Crypto Logo on image of cryptocurrencies

Infinity Crypto Wallet Unpacked

Already a well-known name in cryptocurrency, Sam Bankman-Fried made global headlines in November 2022 when his crypto exchange spectacularly imploded. 

FTX, the second largest crypto trading platform, and Alameda Research, a DeFi investment business also started by Sam Bankman-Friedman, declared bankruptcy amid reports about the way customer’s funds were being handled. 

Last month, the criminal trial of Bankman-Fried, for charges related to the exchange collapse, began in New York, bringing SBF right back into the spotlight. 

Now seems like a good time to remember the background of the one-time crypto wunderkind. 

## Sam Bankman Fried origin story 

Born in March 1992, SBF was seen as a digital asset prodigy, launching Alameda Research in 2017, aged just 25, and the FTX exchange two years later. 

He was born at Stamford University, where his parents, Joseph Bankman and Barbara Fried, were professors. His own education took place at California’s Crystal Springs Uplands School and Massachusetts Institute of Technology, which he graduated from with a degree in physics and a minor in maths in 2014. 

Before graduating, Sam Bankman Fried spent a summer interning at Jane Street Capital, where he traded ETFs. After leaving MIT, he returned to the firm, but three years later, in September 2017, SBF was on the move again, this time to the Centre for Effective Altruism (CEA) in California. 

In the same year, he and Tara MacAulay, also of CEA, launched Alameda Research, a quantitative trading firm. It made quite a stir with its arbitrage trading, which took advantage of the higher value of BTC in Japan than in the US, reportedly completing trades worth up to $25 million every day. 

On the back of his success, Sam Bankman Fried moved to Hong Kong in 2018. 

In mid-2019, the FTX exchange was opened, and it rapidly grew to become second only to [Binance](https://www.binance.com/en) as a crypto trading platform. 

## It all goes wrong 

In November 2022, Alameda Research and FTX filed for Chapter 11 bankruptcy. 

This came at a time when Sam Bankman Fried was still revered by many in DeFi, and he was, reportedly, the 60th richest person in the world, with a peak personal fortune of $26 billion. 

Based in the Bahamas, SBF was seen to use his wealth to support political campaigns in the US. 

After the [collapse of FTX](/news/article/ftx-bankrupt-who-to-blame), amid allegations of poor governance and mishandling of customer funds, Sam Bankman Fried was arrested in the Bahamas and [extradited to the US](/news/article/sbf-agrees-to-return-to-us-for-fraud-charges). 

In December 2022, eight criminal [charges were filed at the Southern District of New York Court](https://www.justice.gov/usao-sdny/pr/united-states-attorney-announces-charges-against-ftx-founder-samuel-bankman-fried), including allegations of wire fraud, securities fraud, money laundering, commodities fraud, and campaign finance law violations. 

Four further charges follow in early 2023. 

SBF was bailed to his parent’s home, but later remanded in custody due to allegations of attempts to tamper with witnesses. 

His trial finally got underway last month. 

## Views on regulation 

The collapse of FTX, one of the biggest names in crypto, raised serious questions around the need for regulating the industry, and led many jurisdictions to ramp up regulatory efforts. 

During the investigation, allegations around the management of both FTX and Alameda were made, including concerns about a lack of corporate governance, understanding of finances, and observation of the rules. 

SBF had spoken publicly about his views on crypto regulation, openly stating he has chosen to relocate FTX to the Bahamas due to what he termed a ‘friendly’ regulatory environment. 

During a conversation on Twitter (now X) in the same month FTX crashed, SBF described the appearance that his firms welcomed regulation and promoted the need for regulators in crypto as ‘just PR’ and not sincere. 

He claimed rules ‘don’t protect customers’ and make ‘everything worse’. He later attempted to clarify these statements, claiming he was referring to greenwashing, ESG (environment, social, and governance), and CSR (corporate social responsibility) being used instead of effective altruism. 

## “Complete failure of corporate controls” 

Among the most damning statements and allegations made in the wake of the collapse of Alameda Research and FTX were those from John J. Ray III. 

Ray, the man who oversaw the five-year bid to recover money for Enron creditors, took over as FTX CEO following the resignation of Sam Bankman Fried on 11 November, 2022. The firm filed for bankruptcy the same day. 

Later in the month, Ray, in a sworn declaration to the bankruptcy court, gave his assessment of Alameda and FTX. He said that 'never in my career' had he witnessed 'such a complete failure of corporate controls' or a 'complete absence of trustworthy financial information’. 

SBF had been due to testify to the House Financial Services Committee in December 2022. He was expected to claim FTX remained solvent, but he’d been ‘pressured' into declaring bankruptcy. He was also due to allege that those who had taken over running the firm were following the Enron precedent to earn high fees. 

Following his arrest, SBF did not appear before Congress. 

The Story of Sam Bankman-Fried 

The founder of Lens Protocol has announced plans to expand access to the Web3 social protocol on a gradual basis. 

It is a big move for Lens Protocol as well as the wider Web3 ecosystem. 

Stani Kulechov [announced the plans](https://www.binance.com/en/feed/post/2023-10-10-lens-protocol-founder-announces-gradual-expansion-of-access-to-web3-social-protocol-1298814) in early October. 

## What is Lens Protocol? 

Lens is designed to be interoperable, meaning it can be integrated with other Web3 apps. This means creators can build customised social media experiences. 

The open-source, blockchain-based social graph aims to reshape social media in the era of Web3. 

Unlike current social media platforms, such as Facebook and X (formerly Twitter), Lens is not centralised. Its composable, permissionless design lets content creators ‘own’ their digital identity so they can connect with wider communities. 

This is achieved through interoperability with other Web3 applications. 

When [Lens Protocol](https://www.lens.xyz/) was introduced at the start of 2022, it garnered attention in the cryptocurrency and blockchain communities thanks to the revolutionary approach to social media it promised, as well as its connections to the well-regarded Aave team developing it. 

Using Lens, creators can produce customised, unique functionality for common features, such as follows, and how they interact with the content of other users. 

It allows for integration with other Web3 protocols and smart contracts, for example allowing creators to mint NFTs from other platforms. Essentially, users can leverage the Web3 ecosystem within Lens posts. 

Creators own their profiles, connections, and content, unlike on current social platforms, so they can switch sites without having to start over. The tokenisation of social data, through NFTs or smart contracts, ensures ownership is retained by the creator and they can be easily transferred to any other platform in the Lens ecosystem. 

Lens says it will give users seamless access to all their content with a single login, whichever platform they are on. 

## How’s it going? 

Lens Protocol, which has raised $15 million towards building its decentralised social network since inception, is being built by Web3 lending platform [Aave](/news/article/what-is-aave-protocol). 

Currently in beta on the [Polygon network](/news/article/what-is-aave-protocol), Lens works with any Ethereum Virtual Machine-compatible blockchain. 

It claims to have more than 100,000 beta users, and last month's announcement of expansion plans could see this increase. 

Lens introduced a new scaling solution, Momoka, to hyperscale social actions. This increases the scale of activities while lowering costs without compromising the decentralisation principles. 

The protocol is a realisation of Kulechov’s longstanding advocacy for the democratisation of access to blockchain tech. He is a prominent figure in DeFi (decentralised finance) and blockchain. 

In his expansion announcement, the founder encouraged anyone interested in Lens to connect their wallets and join the waiting list. 

## Monetisation 

A potential strength of Lens is the opportunity for creators to earn from everything they post. 

Users control and own their content, not the platform, so it, and the followers, go where the creator goes, giving them more monetisation opportunities. 

Lens also includes the power to give other addresses limited access to profiles, so you can store yours on a hardware wallet or give others access to post through a shared account, with private keys and security being compromised. 

It’s also possible to split revenue, so income can be shared with collaborators, charities, or anyone else you want, simply by adding the profile or address of the recipient and stating their percentage share. 

## Lens fundraising 

Back in June, it was reported that $15 million had been raised to fund the Lens Protocol project. 

Support has come because of a shared belief that people want an alternative to Web2 social platforms, where ownership of content and the ability to monetise are limited. 

The Lens team believes this protocol will appeal not only to those who want to own their online identity, but also to creators who are fed up with starting from scratch, in terms of content and followers, every time they move platform. 

As current social media players are not built on the same platforms, the ability to transfer seamlessly does not exist. Within Lens Protocol, everything can be easily moved across platforms within the ecosystem thanks to enhanced compatibility. 

While others have announced or launched Web3-based social protocols, Lens says its point of difference is ownership. It prioritises the right and ability of creators to own their identity and content. 

## Lens Protocol risks 

While there are plenty of advantages promised by Lens, there are disadvantages that should not be ignored. 

[Cointelegraph, in a report last year](https://cointelegraph.com/news/what-is-lens-protocol-and-how-does-it-work), pointed out that blockchains often have limited on-chain storage capacity. This means secondary storage solutions can be required for content and NFTs. 

Diving deeper, the site said Lens publications use ContentURI and all original files are kept in distributed file storage systems, like Arweave, IPFS, and AWS S3. This, Cointelegraph claimed, means content could be manipulated. 

If original files are not recorded on the blockchain, instead being kept in secondary storage, they could be damaged or lost, the site said. 

## X and Web3 

Kulechov has also stated that he doesn’t believe X, formerly Twitter, will join Web3 ‘any time soon’. 

Despite new owner Elon Musk’s interest in blockchain and cryptocurrency, the Lens founder does not believe X will become blockchain-based quickly. 

Lens protocol logo on image of computer doing sums

Lens Protocol Expansion Hopes

## Alameda Research Explained 

During the trial of FTX founder Sam Bankman-Fried, the role of company Alameda Research in the dramatic collapse of the cryptocurrency exchange was regularly referred to. In the wake of the FTX debacle, many reports pointed to the contribution of Alameda to the platform's spectacular fall from grace. But what is Alameda Research? 

## Alameda Research trading firm 

Alameda Research was a DeFi (decentralised finance) investment firm established by SBF in October 2017. Headquartered in Hong Kong, the private equity firm, described by some as a quantitative cryptocurrency trading firm, made hundreds of investments. 

Described as a crypto hedge fund, Alameda made profits in crypto arbitrage by trading Bitcoin between Japan and the US. In 2019, it is reported, some of this income was used to get the FTX crypto exchange off the ground. 

As the digital asset industry suffered the crypto winter of 2022, Alameda was still investing heavily in DeFi projects, reportedly extending credit in excess of $800 million to firms like Voyager and [BlockFi](https://app.blockfi.com/signin?iss=https%3A%2F%2Fauth.blockfi.com%2F). 

Alameda collapsed after a balance sheet was leaked that claimed the business relied heavily on FTT, the token issued by FTX. 

The fall of Almeda sparked the [bankruptcy of BlockFi](/news/article/blockfi-bankrupt-court-documents), the crypto lender, amid claims it was owed $671 million by Alameda Research. BlockFi was also exposed to more than $350 million in funds frozen on the FTX exchange. 

While FTX and Alameda appeared to be distinct entities, it was reported in December 2022 that Alameda had handed over some $1 billion to assist the exchange after a company incident on the trading platform. 

## Trading activity 

Alameda was engaged in OTC (over-the-counter) cryptocurrency trading and also offered ‘full-service’ crypto trading on every exchange and market. 

It was reported that in 2022, head of its collapse, Alameda was managing more than $1 billion in digital assets and trading up to $10 billion every day in coins, tokens, and derivatives. 

It was believed to be holding some 40 cryptocurrencies, including major names like Solana, Bitcoin, Ethereum, Meta, DODO, and Swipe. But it was its exposure to FTT, the token of FTX, that proved critical. 

## End of an empire 

Media investigations into the relationship between the two companies, by [CoinDesk](https://www.coindesk.com/), among others, revealed that 40% of Alameda’s assets were FTT. 

These reports of Alameda’s reliance on FTT spooked investors, who fled the FTX exchange and dumped FTT. Unable to keep up with withdrawal requests, [FTX went into freefall](/news/article/ftx-bankrupt-who-to-blame). 

There had been hopes that Binance, the largest crypto exchange, would step in to provide liquidity for its nearest competitor and complete a buyout. But Binance stepped away from the idea. 

The business tweeted in November 2022 that it was abandoning the takeover plans following corporate due diligence and reports of customer funds being ‘mishandled’. 

With customers flooding out and the potential buyout off, both FTX and Alameda filed for Chapter 11 bankruptcy and SBF stepped down. Initial court reports put the liabilities of Alameda and FTX at between $10 and $50 billion. 

## Fall from grace 

Alameda Research had become established as a significant DeFi investor. In just five years, it made more than 220 investments, according to reports. 

Many of these took the form of capital injections into DeFi solution firms. For example, Fordefi, the FinTech and software company, announced in November 2022 that Alameda was among the investors to contribute to the $18 million it had raised to create an institutional DeFi wallet. 

With Alameda being so deep in the DeFi industry, its collapse caused problems for many projects. 

Maps.me and Oxygen, both recipients of tens of millions of dollars from the firm, ended up with almost all of their token supply frozen on the collapsed FTX exchange. 

FTX didn’t hold equity in either firm, but did hold a substantial amount of MAPS and Oxy tokens and was custodian for more than 95% of the total supply. 

## Day in court 

During SBF’s criminal trial, resulting from the collapse of FTX, it was repeatedly alleged that FTX customer funds were used by Alameda. 

Accounting expert Professor Peter Eaton, giving evidence on the apparent disappearance of $9 billion of customer funds, was clear in his assessment. Eaton conducted a painstaking analysis of the FTX and Alameda books and found substantial deficits. 

Alameda was supposed to be holding around $11.3 billion in FTX customer funds, but little more than $2 billion of that was being held in company bank accounts. Eaton testified that almost 70% of the loans Alameda was making were funded with FTX customer funds. 

Alameda research logo on image of research laptop

Alameda Research: Explained

Thodex was among the biggest cryptocurrency exchanges in Turkey. Unfortunately, the exchange suddenly disappeared during the start of the peak of the market in April 2021, when most cryptocurrencies began soaring to new price milestones. 

On Friday, 8 September, 2023, various [news outlets reported ](https://www.coindesk.com/policy/2023/09/08/11196-years-in-prison-for-faruk-ozer-ceo-of-collapsed-turkish-crypto-exchange-thodex/)that the Thodex exchange's founder, Faruk Fatih Özer, along with his brother Güven and sister Serap, had been given an 11,196-year, 10-month, and 15-day sentence. Also imposed were approximately $5 million in judicial fines. 

As one of the go-to exchanges during the first half of 2021 for many crypto traders in Turkey, more than 400,000 registered users of the Thodex platform suddenly found themselves unable to log into their accounts to access their deposits. 

The total amount locked on the Thodex platform was about $2 billion worth of cryptocurrencies. With many traders ushering out their concerns online and others filing criminal complaints against the exchange, Özer fled his home country of Turkey and hid in Albania. 

During the same month, [Turkish police detained](https://www.dailysabah.com/business/finance/turkey-seeks-crypto-boss-ozer-detains-dozens-in-alleged-2b-scam) more than 60 people across eight regions linked to the collapsed exchange. 

Additionally, detention warrants were issued for another 16 people connected to the Thodex trading platform. 

With this, a red notice was issued for his arrest and extradition. In August 2022, he was [arrested in Himare](https://www.reuters.com/world/fugitive-turkish-crypto-fraud-suspect-arrested-albania-resort-2022-08-30/), a southern resort area in Albania. 

In early April of this year, Özer was extradited to Turkey, with the Istanbul Airport Police Department taking custody of him. 

He arrived in Turkey with seven charges laid before him, which included laundering the total amount of money resulting from the collapse of the exchange and defrauding merchants, cooperative managers, company executives, and people by employing information systems as a tool of a credit institution or a bank. 

## Verdict on Thodex employees and partners  

Overall, the trial brought cases against 21 defendants, who faced a maximum of 40,564 years in prison. 

In addition to the jailing of Özer and his brother and sister, four senior employees of Thodex were jailed. Of the 21 defendants, 16 were acquitted. 

The collapse of cryptocurrency exchanges is not a recent development. Many of the trading platforms that made Statista's list of the biggest exchanges by 24-hour trading volume have disappeared due to cybercriminal activities. 

According to a news report by Bitcoin.com, about 42% of exchanges have failed since 2014. 

Many of them vanished without a trace. This means that thousands, if not millions, of traders who held digital assets with them have had to count their lost cryptocurrencies as bad debt. 

## How to avoid a Thodex-style loss of your crypto assets 

Agencies like the US SEC ([Securities and Exchange Commission](https://www.sec.gov/oiea/investor-alerts-and-bulletins/ia_fraudulentdigitalasset)) continue to publish Investor Alerts cautioning traders about fraudulent [crypto trading ](/news/article/is-crypto-regulated-across-the-globe)websites and digital assets. 

As a sign of caution, stay away from investments that promise guaranteed high investment returns, are offered by unlicensed sellers, use complicated language and jargon that is difficult to comprehend, pressure you to buy on the go, or make unsolicited offers. 

Irrespective of the annual percentage yields (APYs) they offer, they are likely to be scammers hiding behind the anonymous and private nature of the decentralized finance sector. 

So, stay alert and take advantage of platforms such as CERTIK, a tool that monitors and analyzes several protocols and projects related to the blockchain sector. 

More importantly, despite your quest to remain anonymous, try and patronize regulated trading platforms so that you may have a chance of recouping some, if not all, of your crypto assets should the exchange collapse. 

What's behind Thodex CEO's 11,196-year sentence? 

[CryptoLinks](https://cryptolinks.com/) is regarded by millions of interested parties in the crypto sector as the ultimate place to find resourceful information about all facets of the blockchain-backed economy. 

Introduced to the market in 2018, this portal tags itself as the ultimate crypto companion that helps people dive into the world of cryptocurrency and blockchain technology. 

Created by Nate Urbas, a [crypto](/news/article/is-crypto-regulated-across-the-globe) trader and BTC miner who had to go the length and breadth of the web searching for the places to buy digital assets, the best crypto tracking websites, and other tools, his innovation has made it easy for those who are less tech-savvy to become an integral part of the growing sector. 

## What can I find on CryptoLinks? 

Those interested in the best [cryptocurrency exchanges ](https://cryptolinks.com/cryptocurrency-exchange)can find the top 25 platforms by trading volume (Binance, Coinbase, Kraken, OKX, Huobi Global, Bitstamp, and others) on CryptoLinks. 

A compilation of the best [crypto news sites](https://cryptolinks.com/cryptocurrency-news) can also be found on the platform (CoinTelegraph, CoinDesk, CoinCu News, etc.). 

It can be quite frustrating to skim online trying to find historical data on any asset and not be able to find it. Thanks to CryptoLinks, you can discover [coin-tracking websites](https://cryptolinks.com/cryptocurrency-price-tracker) such as CoinMarketCap, CoinGecko, CoinCap, CoinCodex, CryptoView, and Messari. 

Global non-fungible token (NFT) market sales [surpassed $60 billion](https://www.cryptoslam.io/nftglobal) in September 2023, but many people may not know about the platforms that can provide them with the essential data needed to keep up with this space. 

OpenSea, Rarible, Binance NFT, SuperRare, Biswap NFT, and the official online address of Nifty Gateway can be found on a special part of CryptoLinks labeled 'NFT'. 

One of the many ways to get your hands on virtual assets is through [airdrops](https://www.linkedin.com/pulse/ultimate-guide-airdrops-legit-ways-earn-free-hamza-khalid/). Airdrops are free coins and tokens given away to patrons of a particular [crypto project](/news/article/is-crypto-dead) for participating in specific activities or meeting certain requirements. Platforms such as ICO Drops, AirdropBob, and Coin Airdrops can help you learn about [upcoming airdrops](https://cryptolinks.com/airdrops) so that you can improve your portfolio with new cryptocurrencies. 

While CoinTelegraph, CoinDesk, and others can provide trending news, they may not cover all parts of the industry. 

That is why we have [news aggregators](https://cryptolinks.com/cryptocurrency-news-aggregator) that publish news about all sectors of the blockchain-based sector. CryptoPanic, Coinlib, Coinspectator, Coinlive, and Coinbeagle can be found there. 

CryptoLinks provides resources for more than 50 sectors  

In addition to the aforementioned, you can find links to the best altcoin wallets, staking services, play-to-earn (P2E) games, digital currency charts, altcoin exchanges, lending and borrowing applications, wallets, blockchain explorers, scams and rug pulls, layer two blockchains, cloud mining, and Metaverse projects on the website. 

What is CryptoLinks, and why is it important? 

As an analytic platform and blockchain explorer, [Etherscan](https://etherscan.io/) grants crypto users who can connect to the internet access to details on all [Ethereum transactions](/news/article/eth-shanghai-upgrade-postponed), whether confirmed or still pending. 

Launched by entrepreneur and blockchain developer Matthew Tan in 2015, the primary goal behind the Etherscan tool was to provide access to blockchain data and other related information. 

As the most patronized tool for stakeholders of the Ethereum network, the blockchain explorer can help you navigate data on smart contracts, transactions, gas fees, the price and market capitalization of ETH, the native asset behind Vitalik Buterin’s innovation, the last finalized and safe block, and wallet addresses. 

Thriving on the theme of decentralized finance, which is to take power away from centralized figures, creator Matthew Tan is surrounded by a team of industry professionals and seasoned developers. 

As a result, the team behind the project has no relationship with the Ethereum Foundation, the non-profit organization that supports [Ethereum and technologies](/news/article/second-ethereum-testnet-successful) related to its ecosystem. 

## How do I use Etherscan? 

To use the Etherscan tool, you first have to find it on search engine platforms (Google, Yahoo, Bing, and others). Once on the platform, you can locate a section with a search bar titled The Ethereum Blockchain Explorer.  

Under this, you can search for details using crypto wallet addresses, tokens, name tags, domain names, labels, websites, transaction hashes, and blocks. 

To give you a fair idea, let’s assume you want to know the details of activities surrounding this crypto wallet ([0x5124fcC2B3F99F571AD67D075643C743F38f1C34](https://etherscan.io/address/0x5124fcC2B3F99F571AD67D075643C743F38f1C34)). 

After pasting this in the search bar, you will see an overview of this account, which comprises the ETH balance, ETH value, and token holdings. 

Aside from this, you will find information about the first and last transactions sent by the wallet. 

Additionally, to ward off scams that employ decentralized applications (DApps), you can use the service to find smart contracts with a security audit and verified source code. 

More importantly, you can search for transactions made on all Ethereum wallets and calculate gas fees with the aid of an in-built gas tracker. 

## Should you use Etherscan? 

Etherscan is a tool you should consider using if you engage with the first smart contract-backed platform. 

Many investigative agencies have found the Explorer highly resourceful because it helps them track all transactions instigated by hackers across the globe. 

This way, they are able to track transactions up to the point at which they were exchanged for cash and bring perpetrators to justice. 

To keep up with industry standards, Etherscan continues to see upgrades. In June, it added an [OpenAI-based tool](https://finance.yahoo.com/news/ethereum-scanner-etherscan-adds-openai-153426208.html) to analyze smart contract code. 

OpenAI is the company behind the AI chatbot ChatGPT, launched in November 2022, and the new upgrade helps explain parts or the entirety of smart contract source codes to users. 



What is Etherscan, and what is it used for? 

Unlike stock markets that are primarily open five days a week, cryptocurrency is open 24/7, meaning you can open and close positions at any time, including weekends. However, experts believe some days and times are most favorable for making trades. Based on professional traders' views, this article explains the best crypto market times and days.   

## Does the crypto market ever close? 

Crypto markets never close; they operate day and night, every day, offering trading opportunities to investors throughout the year, unlike the stock market, which is open Monday to Friday and has rigid trading hours. 

Nonetheless, while the crypto markets remain open, cryptocurrency exchanges could close. Crypto exchanges operate 24/7, but may close during maintenance or high congestion periods when they briefly pause trading on particular pairings.  

Therefore, the only period crypto market times could be interrupted would be when your preferred crypto exchange is down, or their app isn't working for any reason. 

The crypto market doesn't close during weekends or holidays. Since they are decentralized platforms, exchanges don't depend on central intermediaries to verify transactions, meaning they can work continually without interruptions. 

## Understanding crypto market times and time zones 

A significant amount of crypto trading happens during US trading hours. As a result, most traders navigating the global cryptocurrency market strategically align their trading schedules to correspond with this period when there's increased activity and volumes. 

While it's possible to conduct trades at any time in the 24/7 crypto market, identifying prime times when there's increased market activity and adjusting accordingly can help you tap into more trading opportunities and increased liquidity.      

Choosing crypto market times when there are the most active and dynamic movements due to higher trading volumes and bigger price fluctuations offers investors better opportunities to close trades at desired prices besides capitalizing on market movements. 

Moreover, traders taking this [strategic approach](/news/article/simple-cryptocurrency-trading) interact with a broader pool of market participants, institutional investors, and players from significant crypto markets. You should be able to experience tighter spreads, increased market transparency, improved overall market efficiency, and lower chances of slippage.  

## At what time does most crypto trading occur? 

Most cryptocurrency trading commonly occurs between 8am and 4pm UTC. While the markets remain open 24/7, most trades are executed during this period. There may still be activity outside of this timing, but it will be lighter, and you could find it more challenging to open and close trades. 

Most importantly, you want to remain keen to catch news and events that could impact the market positively. Announcements about regulatory changes, halving events, or celebrity endorsements have all been known to cause price fluctuations. Also, [according to research](https://coinmarketcap.com/academy/glossary/utc-time), 12am to 1am is considered a relatively volatile time to trade cryptocurrency. In comparison, 8am to 10am UTC on Mondays has always been less volatile than other days. 

## Multi-timeframe analysis 

Some traders rely on technical analysis of the crypto market. Still, beginners can easily get lost in the weeds of hundreds of chart patterns and indicators when looking for the best crypto market times. 

Also, a common problem is that investors concentrate on a single timeframe to determine trends and specific entry and exit points, meaning they risk missing noticing the forest through the trees.   

A better option is choosing [multi-timeframe analysis](https://www.investopedia.com/articles/trading/07/timeframes.asp) to identify trends and trading opportunities and determine the best crypto market times. The process involves viewing the same cryptocurrency using different time frames. 

For example, if you are a swing trader, you can use a daily chart to determine an asset's long-time trend and a shorter four-hour chart to select specific entry and exit points. 

While using as many timeframes to determine the best trading hours as possible, you’re better off sticking to two to minimize the complexities involved and perhaps adding a third one when you’re fully accustomed to using the strategy. 

## Factors affecting trading times 

When it comes to [crypto trading](/news/article/how-does-crypto-trading-work), carefully choosing the most favorable times will significantly impact your success. 

Numerous factors can influence your trading times besides determining the best periods for trading. Among the crucial factors to consider are the following: 

Market volatility: Periods of increased price fluctuations can offer more significant opportunities for making profits for active traders. 

Trading volume: The more assets traded within a specific period, the greater the liquidity, tighter spreads, and faster execution of trades. 

Overlapping market hours: Periods when several major cryptocurrency markets are active simultaneously tend to provide increased activity, trade volumes, and liquidity.  

Economic news and events: Announcements involving economic events and data releases can influence price movements and market sentiments.  

Personal availability: Choose times aligning with individual availability when you can actively monitor market trends.  

Weekends and holidays: Most active traders avoid weekends and holidays, meaning they impact trading activity.  

Individual preferences: Experiment to identify the best time frames befitting your trading goals and style. 

## Conclusion  

Successfully navigating cryptocurrency trading requires understanding the best crypto market times. This involves factors like time zones, market hours, trading volumes, and personal trading goals to optimize trading activities. 

While the crypto market runs 24/7, particular time slots bring distinctive advantages. 

crypto market times on a laptop with a coin

The Best Crypto Market Times According to Experts

An attempt to combat high Ethereum gas fees has been rolled out by CoinGate. 

Over the summer, the payment gateway service introduced payments on the Arbitrum network, describing the move as ‘a breath of fresh air’. 

## What is CoinGate? 

Based in Lithuania, the [fintech company](https://coingate.com/) offers crypto payment processing services to businesses. Established nine years ago, it has become a ‘go-to’ option for permission-based account management. 

With a vision of being part of the movement toward mass adoption of cryptocurrency, CoinGate provides a range of methods to set up crypto payments for businesses, whether physical stores or online only. 

It is widely used by leading e-commerce platforms, which deploy CoinGate’s payment buttons, web PoS application, API integration, and official plugins. 

But CoinGate isn’t just for merchants. The company also has a platform where a range of cryptocurrencies can be bought and sold with a single payment, where users can pay with credit and debit cards, with SEPA bank transfers, and can sell their tokens for fiat. 

## CoinGate and Arbitrum 

In June, CoinGate announced the introduction of payments on the [Arbitrum network](https://arbitrum.io/). It was aimed at users wanting to shop on CoinGate using ETH, but who found the transaction fees to be too high. 

For some time, gas fees on Ethereum have been a problem for developers and users. Ethereum attempted to counter this with [upgrades](/news/article/second-ethereum-testnet-successful) intended to speed up transactions and bring down fees. 

However, the frustrations with Ethereum led to the proliferation of layer-2 solutions, each competing to offer faster, cheaper transactions than Ethereum. 

Arbitrum has attracted attention for a novel approach to scalability on the Ethereum blockchain, using ‘optimistic rollups’. 

In a [website blog,](https://coingate.com/blog/post/arbitrum-launch) the company said introducing payments on the Arbitrum network was a ‘breath of fresh air’. 

## Arbitrum explained 

Arbitrum was launched in the autumn of 2021 as a quicker, cheaper alternative to the Ethereum mainnet. 

The layer-2 platform, developed by Offchain, claims to maintain the same level of security and decentralisation as Ethereum while executing transactions off-chain, to improve performance. 

## How the agreement works 

CoinGate explained that users who want to spend USDT and ETH at merchant websites supported by the fintech firm's payment processing can now use the [Arbitrum](/news/article/arbitrum-token-what-to-expect) network. This, it said, would significantly speed up processing time and cut gas fees. 

At the time of the announcement, the company said a transaction on Ethereum would cost between $0.75 and $1. Using Arbitrum to send ETH would cost around $0.05 per transaction, a substantial reduction. 

To keep things simple, the company explained that users would just have to select the Arbitrum network before making a payment. The most complicated part, it said, was connecting your Ethereum wallet to Arbitrum. 

You’ll need to connect a compatible wallet, like [MetaMask](/news/article/what-is-metamask-wallet), then use the Arbitrum bridge to deposit ETH or ERC-20 tokens like USDT onto the Arbitrum network from the Ethereum mainnet. 

After that, CoinGate claimed, the remainder of the process is a ‘breeze’. The company expects Arbitrum to become a ‘popular payment rail’ by offering the benefits of the Ethereum mainnet without the high gas fees. 

## CoinGate compliance 

The payment processing company has also made public statements about [complying with changing regulatory compliance](https://coingate.com/blog/post/mica-regulations). 

It issued a statement in the wake of two key pieces of legislation impacting crypto payments: MiCA and TRF (Transfer of Funds Regulation). Due to come into force within the next year, both will apply across the European Union. 

MiCA sets rules for participants in crypto-asset markets, aiming to enhance consumer protection and improve market confidence. 

CoinGate confirmed it would comply with the new regulations, making ‘several adjustments’ to operations and development. It will also introduce new policies, including keeping electronic records of clients’ account statuses, and enhance security and resilience with changes to its ICT systems. 

The company said the changes are ‘considerable’, but will bring benefits to CoinGate and its customers. These include being recognised as a financial institution, allowing more effective marketing and operating of services in the EU. 

TRF is chiefly aimed at crypto-asset and payment service providers, with the intention of improving transparency and combatting crime. This will involve additional collection of detailed information about transactions and those involved. 

CoinGate said the changes needed under the new rules would only apply to external cryptocurrency payments made from CoinGate to other crypto-asset service providers. This would include instances of refunds to cryptocurrency wallets. 

In its statement, CoinGate said the shopper’s name, DLT (distributed ledger technology) address, country, ID document, address, and details allowing the beneficiary to be identified would be gathered for every relevant transaction. 

Where transactions exceeding €1,000 involved self-hosted wallets, verification of wallet ownership will be required. If not provided, transfers may be rejected. 

## CoinGate's opinion 

The crypto payment processing firm believes the new regulations will 'further strengthen' trust in CoinGate and create a better-regulated and more secure cryptocurrency market. 

While adapting to the changes, the company said, the main focus would remain on providing customers with 'the best crypto-asset services while upholding the highest standards of safety and security'. 



Coingate  Logo on image of blue cryptocurrencies

CoinGate Introduces Payments on Arbitrum 

The Guinness World Record-winning [teamLabBorderless Tokyo](https://www.teamlab.art/e/borderless-azabudai/) facility is set to reopen in January 2024 in Azabudai Hills, Central Tokyo, over 16 months after the Odaiba facility was shut. 

While teamLab has not announced a concrete reopening date, this is exciting news for all art enthusiasts. 

teamLabBorderless Tokyo is a world-renowned art museum that won the 2021 Guinness World Record for being the "Most Visited Museum" devoted to a single artist or group - millions flock to the museum annually. The art exhibition was also included in the TIME list of "[World’s 100 Greatest Places](https://time.com/collection/worlds-greatest-places-2019/)" in 2019. High accolades, indeed! 

The new facility promises to be an exciting recreation of the Odaiba facility, featuring a few familiar installations and a series of interactive works of art that both locals and tourists have never seen before in Japan. 

![Team Lab digital art exhibition](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_10_12_at_15_21_29_f6cc5715c6.png)

## What is teamLab? 

Founded in 2001, teamLab is an international art collective featuring the artistic confluence of artists, architects, mathematicians, CG animators, engineers, and programmers. The installations featured in teamLab's facilities navigate the merger of art, the natural world, science, and technology. 

teamLab's group of interdisciplinary specialists transcend the boundaries of the perception of reality by exploring the relationship between the self and the world as we see it. According to them, "Everything exists in a long, fragile yet miraculous, borderless continuity." 

[teamLab exhibitions](https://www.teamlab.art/) have been held worldwide, in cities such as Melbourne, Beijing, Singapore, Paris, London, and New York. Large-scale [permanent exhibitions](/news/article/nft-art-marketplaces) and museums include teamLabBorderless and teamLab Planets in Tokyo, teamLab SuperNature Macao, and teamLabBorderless Shanghai. 

As we have mentioned before, the teamLabBorderless facility in Tokyo is reopening early next year in Azabudai Hills. teamLab will open more [exhibitions/museums in other cities](/news/article/10-upcoming-nft-projects) such as Utrecht, Jeddah, Beijing, and Abu Dhabi soon. 

teamLab's artistic creations are in the permanent collection of Amos Rex, Helsinki, Art Gallery of South Australia, National Gallery of Victoria, Melbourne, Borusan Contemporary Art Collection, Istanbul, Art Gallery of New South Wales, Sydney, Asia Society Museum, New York, Asian Art Museum, San Francisco, Adelaide, and Museum of Contemporary Art, Los Angeles. 

teamLab is represented by Ikkan Art, Martin Browne Contemporary, and Pace Gallery. Here is all you need to know [about teamLab](https://docs.google.com/document/d/1Qd56p--mrG413Fhn9B86beEqCpxBDsvVxSR8fi71lfQ/edit). 

## teamLabBorderless Tokyo reopening: what to expect? 

If you visit the teamLabBorderless Tokyo website, you will see some of the notable installations set to be on display in the new Azabudai Hills facility. Among these installations are “Sea of Clouds”, “Birth”, and “Proliferating Immense Life”, all from the “Light Sculpture” series. 

The teamLabBorderless Azabudai Hills digital art museum is being developed by Mori Building Co., Ltd, an innovative Tokyo-based urban developer. 

Address: 
Azabudai Hills Garden Plaza B B1F 
1-2-4 Azabudai, Minato-ku, Tokyo 

We recommend following them on [Instagram](https://www.instagram.com/teamlab/) and [Twitter](https://twitter.com/teamLab_net) for the latest updates. Also, keep an eye on the website's news section, featuring updates from the latest popular art blogs. 

While the wait for the reopening event is on, you can visit the teamLab Planets museum in Toyosu. 

## teamLab Planets Toyosu 

The art exhibition is home to two gardens and four large-scale artwork spaces, offering an immersive and sensorial experience. You will “become one with the flowers”. 

It is worth noting that teamLab Toyosu was scheduled to close at the end of 2022. teamLab then announced that the facility would remain open until the end of 2023. If you take a look at [the teamLab Planets official website](https://www.teamlab.art/e/planets/), the facility will now remain open till the end of 2027. 

Perhaps the delay in opening the new Azabudai Hills teamLabBorderless facility factored into this decision. Regardless, the Toyosu museum is fascinating in its own right. Just take a look at the below picture - mesmerising! 

![Toyosu museum team lab exhibition of digital art](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_10_12_at_15_21_57_a3d2c86926.png)

The facility also features a vegan ramen restaurant for food lovers! Additionally, if you believe in mindful eating, the museum is home to an Artwork Dining Space, an Artwork Dining Table, and an Artwork Dining Bench, all places to enjoy a meal. Now, that is an ethereal experience! 

![Team Lab exhibition](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_10_12_at_15_22_06_22468d797f.png)

Each teamLab facility/exhibition is otherworldly, so visit one near you at the earliest - it is all about the experience. 



teamLabBorderless Tokyo reopening in January 2024 

LiveCharts UK is a free live trading chart provider for stocks, commodities, Forex, crypto, and major indices. 

The platform also features free access to historical data, economic data, the latest stock market news, market trends, and the LiveWire market blog. 

To access features such as Share Chat, Day Trading Chat, Share Prices watchlist, Share Signals, Trend Charts, Advanced Charts, and day trading Tools and Data, you must log in to the LiveCharts message board. These features are part of the Members Area. 

## What is the LiveCharts Members Area?

The LiveCharts Members Area is a free subscription to the advanced day trading features listed above. You only need a valid email address to subscribe to the service. 

LiveCharts sends subscribers three to four emails monthly about high-quality trading ideas or products with an option to unsubscribe to the mailing service. 

If you do not wish to receive emails from the trading chart provider, you can unsubscribe from the LiveCharts mailing list while continuing to reap the benefits of this membership programme. Here is a brief overview of the membership features: 

- Chat Boards: The Share Chat and Day Trading Chat Boards allow you to chat with other traders about charts, day trading, and the markets available on LiveCharts. 
- Share Prices watchlist: With this free share monitor, keep an eye on your shares by adding your share symbols to the watchlist. 
- Share Signals: The LiveCharts data filter handpicks shares with the potential to move. You can add such shares to your watchlist and take advantage of a breakout. 
- Trend Charts: As the name suggests, unique trend signals for reversal points, trend continuation, and breakouts are highlighted daily. 
- Advanced Charts: Pick any share from your watchlist to perform advanced analysis. 
- Tools and Data: Daily updated breadth charts, calculators, and pivot points are at your disposal. 

## LiveCharts Members Area registration 

[To register](https://www.livecharts.co.uk/share_prices/members_features.php), click on the green-coloured >> JOIN FREE HERE! button. This will redirect you to the below screen. 

![Join now screenshot og website](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_10_11_at_11_59_06_d82356a8a0.png)

Create a username, enter your email address, full name, and date of birth, and select your country of residence. Tick both boxes and click the Apply button to proceed to the next step. You'll be emailed with your account password almost immediately. Take note of your password (which you can change later) and click the login link to access your free Members Area subscription.

## LiveCharts crypto charts 

If you look at the LiveCharts Home page, there is no mention of cryptocurrencies. The day [trading charts](/trade) provider, however, offers access to 15 cryptocurrency charts at the time of writing, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Cardano (ADA), and Bitcoin Cash (BCH). 

Click the Crypto option on the menu bar and [select a cryptocurrency chart ](/news/article/understanding-crypto-price-charts)you want to view. 

![Bitcoin chart on LiveCharts](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_10_11_at_12_01_43_4a6fb677e4.png)

As you can see above, we clicked on the Bitcoin chart option. The BTC chart is quite advanced, with access to indicators, metrics, strategies, a compare tool (where you can compare the performance of multiple cryptocurrencies), bars, candles, trend line, fib retracement, patterns, long position, and so on. 

The chart also features a brief description of BTC at the end (not that you do not know about the crypto asset already)! 

## LiveCharts stock market news 

The stock market news section is of particular interest to stock enthusiasts. This section features news about the UK market, international markets, company news, broker tips, Forex and commodities, and economic news. 

This section does not feature original LiveCharts news. LiveCharts is simply a news aggregator that gathers financial news from global sources. Click your category of choice and select the information that meets your fancy. 

If you are a website owner/builder, you can integrate LiveCharts news and live prices into your website with the help of the LiveCharts Widget Builder. The Widget Builder is free. 

On a concluding note, if you are looking for a free, [trustworthy news source](/news) and advanced day trading features, there are few better options than LiveCharts. Its Chat Boards are a fascinating plus - you can chat with like-minded traders and share knowledge! 

Man using phone and laptop to trade cryptocurrency

LiveCharts: free day trading chart provider 

As a cryptocurrency trader, you may encounter new crypto exchanges every other day. Choosing the right platform is tricky, as you need to figure out its features, services, and security. But rest assured, as we are reviewing one of the leading names among crypto exchanges, Bitget.  

This marketplace is known for its copy trading and leverage trading services with minimal fees. Here is the Bitget review that may help you decide whether it meets your needs. 

## What is Bitget exchange? 

Bitget is a major cryptocurrency derivatives exchange that offers advanced buying and selling services. Sandra Lou co-founded it in 2018, and it is currently being operated in Singapore. However, it caters to crypto investors worldwide and has more than 20 million users. A prominent reason behind its large user base is that the platform is completely authorised in five countries, including the US, Canada, and Australia. 

This crypto space offers a dynamic platform that can cover all your buying and selling needs. Mainly, its services include spot, futures, and copy trading. Aside from that, you will get timely market insights and data that will help you make the right decisions.  

## Pros and cons of Bitget exchange 

Here are the prominent benefits and drawbacks of using this exchange. 

### Pros 

- Transaction fee of <0.10%. 
- Intuitive interface. 
- Free copy trading services. 
- More than 500 cryptocurrencies listed. 
- Regulated by several authorities. 
- Supports over 250 fiat currencies. 
- Market data and insights. 

### Cons 

- Direct crypto purchases are costly. 
- Inept customer support. 

## What are the fees for the exchange? 

The foremost thing investors look for before investing in a trading platform is its withdrawal and transaction fees. Fortunately, the network makes a fair choice in this regard. It offers affordable transaction fees that can be as low as 0.02%.  

For spot trading, both maker and taker have to pay 0.1%. On the other hand, for futures trading, the makers’ fee is 0.02%, and the takers’ fee is 0.06%. Furthermore, you can also use BGB tokens and promo links to get further discounts.  

Meanwhile, you can start your trading journey with Bitget for as low as $50. There is no extra fee for depositing any amount there, making it an affordable option for buying and selling cryptocurrencies. 

However, you may not get the best rates if you want to buy any cryptocurrency directly through the medium. It charges slightly higher than most [popular exchanges](/news/article/simple-cryptocurrency-trading) because of its swift procedure. 

## Is Bitget copy trading profitable? 

Bitget is one of the largest exchanges for crypto copy trading that offers a range of options in this domain. Other than spot and futures copy trading, it offers bot copy trading. 

It works on advanced artificial intelligence (AI) models that help to create accurate [trading strategies](/news/article/simple-cryptocurrency-trading). These models can learn from past trends and suggest entry or exit points accordingly.  

A [report by Bitget](https://www.bitget.com/support/articles/12560603795722) claims that 93% of its users of futures copy trading secure substantial profits. Similarly, 82% of spot copy trading users also attained profitability. The report further claims that the total gains through the copy trading services have reached 74m USDT in 2023. 

However, copy trading involves high risk. Therefore, it is important to proceed with due diligence and only invest according to your risk appetite. 

## Is it safe? 

A platform’s security is another critical aspect of gauging whether it is a viable option. Bitget, in this regard, is also well grounded. So far, it has secured licences in six countries, including Canada, the US, Australia, Lithuania, Poland, and Italy. It suggests that it is a safe exchange for your trading needs.  

It has acquired the Money Service Businesses (MSB) licence to operate as an exchange in Canada and the US. It is working with the Digital Currency Exchange (DCE) licence in Australia. Meanwhile, in 2023 it acquired Lithuania and Poland's virtual asset service provider (VASP) licence.  

## How to create an account on Bitget 

Here’s how you can create an account on this trading platform: 

1. First, click Sign Up on the top right of its site.  
2. Then, enter your email or phone number and create a strong password. 
3. You will receive a verification code to your phone or email. To verify your account, enter the code. 
4. Then, you need to verify your ID. For this, click the profile button and a dropdown menu will appear. Here, select ID Verification. 
5. It will give you two options: individual or institution verification. Select Individual and fill out all the details. 
6. Once that's done, click Next, and your ID will be verified.  

## Bottom line 

Bitget is a reputable cryptocurrency derivatives exchange known for its copy trading offerings. It is a safe and secure option for buying and selling more than 500 cryptocurrencies and 250+ fiat currency options. 

The exchange provides insightful market analysis and strategies with its bot copy trading. Plus, you get only minimal transaction rates, which makes it a viable trading platform. 

Bitget review: Is it a safe trading platform?

Cryptocurrency has revolutionised how we think about money, transactions, and investments. While Bitcoin and other digital assets often steal the spotlight, it's the concept of tokenomics that underpins the vast and diverse crypto landscape. 

In this article, we'll delve into the intricacies of tokenomics, exploring its relevance, components, and impact on the world of cryptocurrency. 

## What is tokenomics? 

Tokenomics is a portmanteau of "token" and "economics". It refers to the economic system or structure of a cryptocurrency or blockchain project. 

Essentially, it's the study of how tokens within a blockchain ecosystem function, interact, and create value. Tokenomics encompasses various aspects, including token supply, distribution, utility, and governance. Let's break down these components to gain a clearer understanding. 

Tokenomics begins with the token supply, which determines the total number of tokens that will ever exist for a particular cryptocurrency. This supply can vary greatly from one project to another, ranging from a few million to billions of tokens. The token supply affects factors like [scarcity](https://www.coindesk.com/markets/2021/11/18/not-all-cryptos-are-scarce-like-bitcoin/) and inflation. 

The distribution of these tokens is equally crucial. It defines how tokens are allocated among various stakeholders, including developers, investors, users, and miners. A well-thought-out distribution plan aims to achieve a balance between decentralisation and fair allocation, preventing a single entity from holding too much power. 

## Utility and use cases 

Tokens are not just digital coins; they serve a purpose within their respective ecosystems. 

Utility tokens, for instance, provide access to a platform's services or features. For example, within the [Ethereum network](https://ethereum.org/en/), Ether (ETH) is used to pay for gas fees, which power smart contract execution and transaction processing. 

Security tokens represent real-world asset ownership, such as stocks or real estate, and are perceived as being subject to securities regulations. 

Holders of governance tokens have the right to participate in the decision-making processes of a blockchain project, including voting on protocol upgrades and changes. 

The utility and [use cases of tokens](https://www.theblock.co/learn/245722/what-are-practical-use-cases-of-cryptocurrencies) are a critical aspect of tokenomics as they determine the demand for a particular cryptocurrency and influence its value. 

## Token burn and deflation 

To maintain scarcity and potentially increase the value of tokens, some blockchain projects employ token burn mechanisms. 

Token burning involves sending a specific number of tokens to an unrecoverable address, effectively reducing the total supply. 

This process is often used in deflationary cryptocurrencies, where the supply gradually decreases over time, theoretically leading to price appreciation. 

## Staking and yield farming 

[Staking and yield farming](/news/article/what-is-staking-crypto) are essential components of tokenomics, primarily in Proof of Stake (PoS) and Delegated Proof of Stake (DPoS) blockchains. 

Token holders can stake their assets by locking them in a network to support its operations, validate transactions, and earn rewards in return. These rewards can consist of additional tokens or a percentage of transaction fees, further enhancing the token's utility. 

Yield farming, on the other hand, involves providing liquidity to decentralised exchanges or liquidity pools, where users earn rewards, in tokens, for their participation. These mechanisms incentivise token holders to actively engage in network activities, thereby contributing to the ecosystem's growth. 

## Tokenomics and project sustainability 

A well-designed tokenomics model plays a pivotal role in the long-term sustainability of a blockchain project. It must strike a balance between incentivising early adopters and maintaining stability for future growth. 

Projects that distribute tokens excessively in the initial stages may experience volatility and price crashes, making it challenging to attract long-term investors. 

Furthermore, projects must consider the mechanisms for funding development and ongoing maintenance. ICOs ([initial coin offerings](/news/article/what-is-an-ico)) and IEOs (initial exchange offerings) are among the fundraising methods used by blockchain projects to secure the necessary capital. 

Proper allocation of these funds and transparency in financial management are crucial for maintaining trust within the community. 

Tokenomics and regulatory compliance 

The cryptocurrency space is constantly evolving, and regulations are catching up. As governments around the world establish guidelines for the cryptocurrency industry, blockchain projects need to ensure that tokenomics models comply with these regulations, particularly when dealing with security tokens or conducting fundraising activities. 

Regulatory compliance not only mitigates legal risks, but also enhances the project's credibility and attractiveness to institutional investors. It's essential for blockchain projects to consult legal experts and adapt tokenomics models accordingly to navigate the complex regulatory landscape. 

## Tokenomics and investment strategy 

For investors, understanding the tokenomics of a cryptocurrency project is crucial when making investment decisions. By analysing token supply, distribution, utility, and governance, investors can assess the potential for long-term value appreciation. 

Additionally, understanding the staking and yield farming opportunities within a project can help investors identify sources of passive income. 

However, it's essential to conduct thorough research before investing in any cryptocurrency, as the volatile nature of the market can lead to significant risks. 

## Conclusion 

Tokenomics is a multifaceted concept that forms the foundation of the cryptocurrency world. It encompasses various aspects, including token supply, distribution, utility, and governance, all of which contribute to a cryptocurrency's value and sustainability. 

As cryptocurrency evolves and matures, an in-depth understanding of tokenomics is invaluable for investors, developers, and enthusiasts alike. 

In the UK and worldwide, blockchain projects are constantly innovating and adapting tokenomics models to meet the changing demands of the industry and regulatory landscape. 

Whether you're a seasoned cryptocurrency investor or someone new to the space, staying informed about tokenomics is essential for navigating the exciting yet complex world of digital assets. By doing so, you can make informed decisions and contribute to the growth and success of the cryptocurrency ecosystem. 

Understanding Tokenomics in Cryptocurrency: A Deep Dive 

This month, digital asset enthusiasts descended on London for a major networking event organised by [CC Data](https://summit.ccdata.io/). 

The Institutional Digital Asset Summit has become a significant event, attracting international attendees and notable speakers contributing to a wide range of topics. 

Here, we take a look at what was on the agenda for the 2023 summit. 

## What is CC Data? 

Founded almost a decade ago, CC Data provides digital asset data to institutions and investors. Formerly known as CryptoCompare, [the organisation](https://ccdata.io/) is focused on safeguarding data integrity and ensuring consistency in market data by standardising global sources. 

CC Data is renowned for investing in tech and infrastructure to enhance its services and is part of a movement to encourage digital asset adoption. 

The Institutional Digital Asset Summit (CCDAS), in London, is part of fostering that engagement. 

CC Data was co-founded by Charles Hayter and Vlad Cealicu, who serve as CEO and CTO respectively. 

## CCDAS 2023 

Held over two days at the start of the month, the summit covered a wide range of hot topics. 

The summit began with a networking event for VIP guests, a chance to rub shoulders with influential figures in the digital asset and wider investment worlds. As with similar events, the opportunity to make face-to-face contact with movers and shakers is a major attraction of the CC Data summit. 

Perhaps one of the most important agenda items was a discussion on future-proofing the digital asset industry. This looked at how to ensure continued growth in the sector amid global regulatory uncertainty. 

Jurisdictions worldwide are grappling with regulation to make digital asset investment a safer space. There is a well-recognised need to protect investors, but many countries have struggled to understand how to impose rules which give that protection without stifling innovation. 

The need for regulation gathered pace following last year’s dramatic [collapse of the FTX exchange](/news/article/ftx-bankrupt-who-to-blame), leading to some jurisdictions considering knee-jerk rules that would harm the growth of the digital assets sector. 

With the background, it was a timely subject to feature prominently on the CC Data DAS agenda. 

## Other discussion points 

The summit agenda also included many more fundamental considerations about the present and future of the digital asset sector. 

The scene was set with the opening presentation, considering the past, present, and future of cryptocurrency. 

One session examined how institutional investors are shaping the digital asset landscape and how that should be managed. Another delved into the derivatives market, studying exposure and leverage within the digital asset ecosystem. 

One agenda item that caught attention ahead of the summit focused on the role of venture capitalists and their role in driving digital asset growth. It is becoming commonplace for venture capital to play a significant role in the development of many digital asset platforms and offerings, and the summit examined how this works and whether it is beneficial. 

[Tokenisation](/news/article/tokenization-importance-explained) is a hot topic in crypto circles, so it was unsurprising to find a session dedicated to studying trends in traditional tokenisation and looking beyond crypto. 

Attendees were also able to hear the latest thinking on digital asset investment products, from the current ETFs (exchange-traded funds) to innovative new products that could hit institutional markets soon. 

In common with many similar crypto-centric conferences, CC Data DAS 2023 included a number of ‘fireside’ chats, informal interviews with leading lights in the digital asset space. Among these were representatives of LMAX Digital, the institutional cryptocurrency exchange, as well as the UK Financial Conduct Authority. 

The latter was fundamentally important following the rollout of strict new crypto rules in the UK during 2023 and with further regulatory steps due to come into force. 

## The speakers 

The roll call of speakers scheduled for the 2023 CC Data Digital Asset Summit read like a veritable who's who of finance and digital asset leaders. 

The Chair of the UK Parliament Crypto and Digital Assets All Party Parliamentary Group, Dr Lisa Cameron MP, and FCA Head of Capital Markets Helen Boyd were among the headline guests due to appear. 

Other leading figures on the roster included Bitcoin educator Dan Held, Bitstamp CEO JB Graftieaux, Wilshire CEO Mark Makepeace, and Tyrone Lobban, MD of Onyx by JPMorgan. 

The City of London, arguably the global HQ of financial services, was represented by Lord Mayor Michael Mainelli. 

## More than just talk 

Of course, conferences like this are not just an opportunity to hear from star speakers and network. The CC Data summit was also an opportunity for businesses to exhibit. 

Many conference attendees measure the value of an event by the quality of the organisations represented. Having the City of London, the UK Parliament, and the FCA represented matters, but it is equally important to see big financial names in attendance. 

The reputation of CCDAS has been enhanced by the ability to attract traditional institutional investors to this digital-asset-focused forum. These have included the likes of HSBC, UBS, Citi, Morgan Stanley, JPMorgan, and Standard Chartered. 

Its value has been further enriched by the attendance of finance players such as the Nasdaq, the London Stock Exchange Group, and S&P Global. 

Of course, no digital asset conference would be valuable without representatives of the cryptocurrency sector and digital asset champions. Again, CCDAS has scored well, with the likes of Ripple, Crypto.com, Coinbase, and Bitstamp contributing. 

## The coverage 

Anyone involved in cryptocurrency knows that widespread mainstream media coverage of digital assets usually only happens when something goes wrong, like a market crash, hack, or platform implosion. 

Another strength of CCDAS has been its ability to attract representatives of leading reputable global media outlets. These have included the BBC, Financial Times, Bloomberg, Wall Street Journal, and CNBC, among many more. 

CCDAS logo on image of people reading crypto data on an ipad

CC Data Hosts Digital Assets Summit 

While they appear like two distinctive technologies revolutionizing their different spheres, after closer inspection, it's now emerging as an undeniable fact that AI and crypto are becoming more intertwined than anyone could have imagined. 

This article shows how combining both technologies can potentially introduce racial changes in the world's financial models by shrinking existing systems and creating new ones.  

## Crypto and artificial intelligence in Fintech 

Blockchain and AI, the hottest technologies today, are two radically different innovations. Still, pundits discuss the potential benefits of merging the pair. 

According to a [PwC report](https://www.pwc.com/gx/en/issues/analytics/assets/pwc-ai-analysis-sizing-the-prize-report.pdf?roistat_visit=1677748), AI is set to add at least $15.7 trillion to the global financial market by 2030 and increase the global GDP by 14%. At the same time, Gartner predicts that blockchain's business value will increase by at least $3.1 trillion during the same period. 

AI is emerging as an integral part of information technology development, whose primary basis is machine learning. The innovation that has spread to and embraced every area of human activity has also roped in the cryptocurrency industry, which is currently a buzzword. 

The inevitable integration of AI into the financial markets, including the creation of intelligent [crypto coins](/news/article/ai-coins-crypto), is around the corner. Still, in the meantime, its consequences are emerging in the cryptocurrency market. 

## The intersection of AI and crypto 

While AI and blockchain have specific degrees of sophistication, both technologies can benefit from a joint symbiosis that will help each other grow since they interact with data differently. 

When applied to the financial markets, the fusion of crypto and AI can help boost users' interest and confidence in digital assets. There's evidence that merging AI and crypto can revolutionize how people interact with money and place cryptocurrency at the center of things as a secure, decentralized store of value. 

Both AI and cryptocurrency interact with data differently. Artificial intelligence depends on data and thrives on its predictions depending on the amount of data the machine learning system receives. Cryptocurrencies, on the other hand, are built on the concept of a secure and transparent ledger that records every transaction and ensures the data is immutable.  

Using blockchain to store and safeguard vast volumes of data creates one potential intersection point between crypto and AI. It is significant for AI since its systems require massive volumes of data to train and improve. When it comes to financial markets, using smart contracts, whose terms are secured in computer codes and executed automatically, is a powerful frontier already being explored. 

## Potential benefits of merging crypto and AI in financial markets 

The convergence of AI and crypto plays a significant role as the world of finance undergoes a radical transformation. The merger can alter how financial transactions are conducted alongside how people make investments. 

Here are a few examples of how AI and cryptocurrency are reshaping the future of finance: 

## Decentralized finance 

Powered by blockchain, decentralized finance ([DeFi](/news/article/what-is-a-defi-token)) is implementing financial offerings away from centralized institutions to decentralized platforms. DeFi gives access to financial services like borrowing and lending without third parties like banks. A primary benefit of DeFi is its enabling of creativity and innovation that has introduced new financial products, such as automating the underwriting process for loans and making it faster and more accessible even to the unbanked. 

## AI-powered investment 

AI is already playing a role in automating trading and investment processes, whether portfolio management or risk assessment. By analyzing significant amounts of data, AI algorithms provide real-time market forecasts, enabling traders to make faster and more informed decisions. Furthermore, when applied correctly, AI can help players in the financial markets eliminate unnecessary operating expenses by automating repetitive manual tasks, lowering financing expenses, increasing exposure to new possibilities, and catalyzing institutional adoption of cryptocurrencies. 

## Transparent and secure transactions 

The intersection of AI and cryptocurrency could also make financial transactions more transparent and secure. Crypto operates on a decentralized network where encryption is used to secure transactions, making them impervious to fraud and manipulation. Moreover, the blockchain's public ledger system ensures that every transaction is transparent and that anyone can easily audit it. With such transparency, businesses could reduce fraud risk and improve the overall security of financial transactions. 

## Fraud detection 

Besides automating trading and price forecasting in cryptocurrency trade, applying AI in crypto can optimize investors' trading portfolios and enhance risk management. It can detect fraudulent schemes and monitor long-term market changes as a risk management tool. Traders can use AI systems to raise crypto transactions' safety and security standards and see fraudulent ones by implementing automated verification procedures. Eventually, AI algorithms could make the crypto market safe and encourage crypto adoption. 

## Conclusion 

The intersection of AI and crypto, two nascent technologies with the potential to transform the world of finance profoundly, is set to achieve incredible results in all aspects of the crypto niche. 

Creating favorable conditions to conduct [crypto investing ](/news/article/crypto-invest-strategy)and the entire financial market could lead to a conceptual model of trading crypto and doing more secure, efficient, and decentralized business. 

AI and crypto in the background with Robot and person shaking hands

AI and Crypto: A Perfect Pair

CryptoPanic is among the most patronized aggregators for breaking news and analysis about the digital asset market.  

Used by several writers and reporters to relay content through individual blogs and company sites, the news aggregator sees at least one million monthly visits, and it is among the top 70,000 websites worldwide. 

While independent portals like BeInCrypto, CoinDesk, [CoinTelegraph](/news/article/cointelegraph-explained), and CryptoSlate, among others, publish vital information, you will not come across all the trendiest content on a single platform.  

Below, we examine what this platform entails and the features available to you as a stakeholder in this emerging sector.  

## What is CryptoPanic?  

Founded in 2017, it aggregates news about the virtual asset sector, comprising fundamental and technical analysis. 

News found on the platform is invaluable to investors' trading patterns as it impacts the market positively or negatively. 

While the development team behind CryptoPanic has created many categories, interested parties can take advantage of three sections.  

The most used section is “News". Under this, you can find breaking news content reported by portals, including centralized and decentralized institutions. 

Aside from that, it covers all projects in addition to DApps (decentralized applications), NFTs (non-fungible tokens), stablecoins, and CBDCs (central bank digital currencies). 

You can also access "[Media](https://cryptopanic.com/news/media)". Under this, you can watch a select group of videos from well-established channels such as FUDTV (where FUD means fear, uncertainty, and doubt), TheCryptoLark, SimplyBitcoin, and AltcoinBuzz. 

Also, you can find “[Polls](https://cryptopanic.com/polls/new)", a place on the platform where you can express yourself by voting and contributing to [crypto](/news/article/is-crypto-dead) discussion. You can come across questions such as, do you think crypto is about to go into a bull or bear market, will BTC ever hit $100K, and what do you think will be the dominant currency in 2025?  

## CryptoPanic also offers a portfolio tracker  

Instead of visiting crypto price trackers such as CoinMarketCap, CoinStats, Coinranking, TradingView, CoinGecko, and others for data, you can create an account on the website and track all the activity surrounding your holdings in one place.   

The CryptoPanic[ portfolio tracker](https://cryptopanic.com/portfolio) is extremely important, especially when the market continues to experience high volatility. 

Is CryptoPanic the best news aggregator? 

Algorand [blockchain](/news/article/blockchain-for-dummies) doesn't have the retail hype surrounding competitors, but that doesn't matter. The protocol is garnering institutional adoption, and Algorand news shows there's much more behind the scenes. This article lifts the curtain to offer you a preview.

## Algorand news often misses out

Algorand (ALGO) is an often-overlooked powerhouse, but ongoing Algorand news reveals a token with a promising future. The platform presents powerful features, including low fees, high-speed transactions, and various potential applications. Unfortunately, most investors miss out on its opportunities because it doesn't usually make it to the mainstream media. The truth is that the protocol has hidden value and the potential to join the league of top cryptocurrencies in the future.

## Upgrade boosts performance

Algorand recently released a network upgrade that reduced the protocol’s block time significantly and boosted its performance. According to the [announcement](https://twitter.com/Algorand/status/1671867287534534657), the newly released upgrade by the Proof of Work (PoW) network that went live on the Mainnet on 22 June, 2023, enhanced the network's speed by roughly 10%. Accordingly, the block time reduced from the previous 3.8 to 3.3 seconds, one of its most significant time reductions ever percentage-wise.

Following the news, the network's native token ALGO's value surged nearly 5% within 24 hours to trade at $0.13.

## Algorand 3.16.0-beta update

Other Algorand news indicates that while it may have suffered a severe body blow following US Security and Exchange Commission's (SEC) assertion that the project was a security, the protocol is already on its way to full recovery from the almost 25% crash it suffered that saw investors sell their holdings in an attempt to cut their potential losses. 

While the SEC announcement was bad news for the investor community, the [silver lining](https://github.com/algorand/go-algorand/releases/tag/v3.16.0-beta) that didn’t reach the limelight was the new [3.16.0-beta](https://developer.algorand.org/articles/developer-improvements-in-go-algorand-316/) update earlier in June 2023 that would improve the protocol’s usability, add new developer tools and add a few minor tweaks that would make it the fastest project in terms of responsiveness and transaction speeds.

## Algorand invades the Argentinian skies

Earlier in the year, some stealth Algorand news showed Argentinian low-cost airline Flybondi had integrated the nascent Web3 into its operations. Per the[ announcement](https://flybondi.com/ar/prensa/Noticias/193b58c1-74d4-4794-ac82-f7c856d1e040), Flybondi partnered with TravelX to issue e-tickets as non-fungible tokens ([NFTs](/news/article/are-nfts-dead-investigation)) on the Algorand blockchain. 

The integration was announced in early March 2023, and christened Ticket 3.0 was an expansion of the airline’s existing partnership with TravelX starting in September 2022. The Algorand-based NFT ticketing technology enables passengers to alter details and sell or transfer their NFTickets to gift family or friends via a self-management module.

## Kokua survivor wallet

Further Algorand news shows the human side of the protocol following its [recent announcement](https://www.prnewswire.com/news-releases/st-vincent-de-paul-disaster-services-launches-kokua-a-platform-for-disaster-relief-disbursements-built-on-the-algorand-blockchain-to-bring-game-changing-efficiency-and-transparency-to-relief-funding-for-people-impacted-by-natur-301690364.html) of corporate social responsibility (CSR) in partnership with St. Vincent de Paul Disaster Services.

The aid organization chose the Algorand blockchain to launch its Kokua survivor wallet. The disbursement platform streamlines the connection between relief organizations and natural disaster survivors to facilitate their recovery.

Survivors will validate their identity, redeem their household goods and furniture, and receive aid digitally via the Algorand blockchain. Amazon would fulfill the order–all using the Kokua survivor wallet.

## Conclusion

The nature, capability, and utility of Algorand have seen people view ALGO as a direct competitor of the dominant Ethereum. While it may not be too apparent to most crypto fans, Algorand news shows a crypto project with a bright future.

Algorand's impressive high-speed transaction processing and efficient functioning will see the protocol match and maybe overtake its competitors in the future.

Algorand news: Making silent moves behind the scenes

Tencent Cloud tags itself as the largest company operating under the internet banner in China. Its flagship products, like WeChat and QQ, are used by millions of people in Asia. 

After operating as a high-performance, reliable, and secure cloud computing service for years, it jumped into the blockchain-powered economy in 2023 with a series of partnerships. 

Below, we examine some of the partnerships and their potential impact on the future of the decentralized finance (DeFi) sector. 

## Tencent Cloud has partnered with MultiversX   

[MultiversX](https://www.kraken.com/learn/what-is-multiversx-egld) was formerly called Elrond and has been labelled an Ethereum Killer. MultiversX aims to compete with other smart contract platforms by having an ecosystem of cryptocurrencies and DApps (decentralized applications). 

On 16 February, 2023, MultiversX said it had allied with [Tencent Cloud](https://www.coindesk.com/web3/2023/02/16/tencent-teams-up-with-multiversx-to-expand-web3-strategy/) to help the company with its mission of expanding its Web3 products.  

Through this partnership, Tencent will use the possibilities of its technology and MultiversX’s network to deploy a range of products on the project’s blockchain.  

The Vice President of the cloud computing company, Leo Li, said that liaising with MultiversX was a way of deepening connections between the real and virtual world.  

The announcement had a huge impact on the crypto market as ELGD, the native asset behind the MultiversX protocol, [rose by 14%](https://coinmarketcap.com/currencies/multiversx-egld/historical-data/) from an opening day price of $46.41 to an intraday high price of $53.06.  

The day's trading volume was around $123 million, corresponding to a market capitalization of $1.2 billion. 

## Avalanche and Tencent Cloud partnership 

Avalanche is among the most patronized protocols and plays an integral role in the DeFi and NFT ([non-fungible token](/news/article/nft-art-marketplaces)) markets. AAVE, Benqi, GMX, Trader Joe, Stargate, Yield Yak, Vector Finance, Platypus Finance, Pangolin, and CIAN are some of the DApps deployed on Avalanche, which has given the chain a TVL (total value locked) of approximately [$600 million](https://defillama.com/chain/Avalanche).  

As a top 10 NFT blockchain by all-time sales, with around [$430 million,](https://www.cryptoslam.io/blockchains/avalanche) Avalanche is also a major player in the digital collectibles space.  

On 22 February, 2023, Avalanche disclosed that it has partnered with the Chinese company to support developers and projects in its ecosystem.  

Avalanche’s subnets (a piece of the Avalanche network) will also be explored by both parties as it is used by many enterprises. Representatives of Avalanche believe it will help accelerate the adoption of Web3 businesses across several businesses in the mainstream.  

With this, more products can be added to Avalanche's suite of Web3 products which already includes a bridge, explorer, and wallet. 

AVAX, the native asset behind Avalanche, saw a substantial rise in trading volume for the day. About [$606 million ](https://coinmarketcap.com/currencies/avalanche/historical-data/)was poured into the coin after it reached an intraday high price of $21.46.  

The new alliance deepened AVAX's status as a medium digital asset by value, with a market capitalization of $6.4 billion (medium cap assets range between $2 and $10 billion). 

## Chainlink allied with the company in May  

Chainlink joined the crypto market to help solve the problem of interoperability, as many blockchains were built with independent features. Over time, it has become one of the most patronized decentralized oracle networks. 

On 31 May, 2023, [Chainlink](https://twitter.com/chainlink/status/1663909326770012160?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1663909326770012160%7Ctwgr%5E6f533ab32cbc6b6b38f43a5a623a5ecf4c3aab01%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.crypto-news-flash.com%2Fchainlink-and-tencent-cloud-join-forces-to-unleash-web3-potential-accelerating-decentralized-technology-adoption%2F) announced via its official X handle (formerly Twitter) that it had teamed up with the internet firm to support Web3 startup development. 

The teaming up of the two firms will see BUILD projects under Chainlink receive a minimum of $10,000 worth of default vouchers for Tencent Cloud services.  

The vouchers will facilitate access to the internet company's various cloud computing resources, including but not limited to networking, storage, and power. 

As one of the coins hit hard during the crypto winter, which was born out of the collapse of Do Kwon's Terra Network in May and Sam Bankman-Fried's FTX in November 2022, LINK rose slightly on the back of the announcement. 

As of 13:00 UTC on 11 August, 2023, LINK was exchanging hands for[ $7.55](https://coinmarketcap.com/currencies/chainlink/), and many analysts forecast the coin to breach the $10 mark again and retest $20 in the future. 

## Conclusion  

Web3 is seen as the next iteration of the internet, where billions of people across the globe will be able to connect through decentralized systems. 

Being at the helm of the internet through its cloud computing services means that Tencent Cloud will play an instrumental role in the future of the blockchain-backed economy, which relies solely on the internet to function. 

With partnerships with MultiversX, Avalanche, and Chainlink leading to a rise in their respective native assets, more strategic team-ups could reflect positively on the overall market capitalization of the[ crypto](/news/article/is-crypto-regulated-across-the-globe) industry. 

Tencent Cloud leaps into crypto with partnerships