Crypto is taking over Dubai!
Jumping into the Dubai ecosystem.
I’m grateful to have spent the week at Blockchain Life 2024, The Global Blockchain Show, and TOKEN2049 Dubai.
Thank you to all who came out to Dubai and said hello at the various events throughout the week. The week kicked off to a tough start, and I hope everyone remained safe and healthy throughout the rest of the week.
I was honored to start my week at Blockchain Life 2024, where thousands came together to meet industry drivers from all over the world who share a passion for blockchain and crypto. We made valuable connections, exchanged ideas, and found new opportunities. I’m grateful for the opportunity to speak on the panel: Conductors in The World of Cryptocurrencies, What Do Top Exchanges Think About 2024?
Following this panel, I headed to the Global Blockchain Show, a conference that embraced the power of blockchain. Experts unraveled the mysteries of blockchain technology and showcased its potential to revolutionize industries and drive real-world impact. The panels and keynotes focused on discovering the next evolution of the internet, with discussions on Web3, decentralized applications, and the decentralized web. My keynote addressed scalability challenges and solutions in blockchain-based IoT systems.
Lastly, the BingX team and I headed to TOKEN2049 Dubai to cap off the week. This conference brings together the leading voices in crypto where the crypto ecosystem’s decision-makers connect to exchange ideas, network, and shape the industry. TOKEN2049 is the pre-eminent meeting place for entrepreneurs, institutions, industry insiders, investors, builders, and those interested in the crypto and blockchain industry.
I spoke on the panel Exchange Evolution: Trends and Transformations in Crypto Markets. Alongside me were esteemed guests Justin Sun (HTX), Noah Perlman (Binance CCO), Sonia Shaw (CoinW), and Hannah Miller (Bloomberg). BingX hosted hundreds of guests to mingle with UFC fighters and BingX Ambassadors Junyong Park and Da Woon Jung to cap off the week.
I look forward to connecting with you at future events!
Bullish or Bearish? Last Week’s Waiting Game
Bitcoin and other assets are faced a tough week ahead of the halving. From highs met just within the past month, investors of all classes felt the pullback of about 15 percent from the digital assets’ most recent all-time high of $73,000. Bitcoin is not bleeding the most; assets like Solana and other altcoins are pulled back even more, up to 50%.
Is this something to be afraid of? While we will never know for sure, having a dip before a halving event is standard. Beyond this, the correction on a greater timeline is less of a concern. We saw Bitcoin maintain strength in the $60,000 range for the medium term before riding back to above $66,000 today. This event is temporary in nature and does not indicate a shift in the larger trend, but falls in line with previous halving trends.
There are still positive signs in the greater crypto market. Hong Kong’s approval of Bitcoin ETFs underscores its proactive stance in the global digital asset market and highlights the competitive dynamics among major financial players. The first batch of ETFs was launched by Hong Kong-based entities of Bosera, JS Fund, and China AMC, showcasing the eagerness of Chinese fund managers to gain a first-mover advantage in the crypto assets space. About two weeks ago, major traditional financial institutions like Morgan Stanley and UBS also jumped into the fray, announcing their plans to offer Bitcoin-related products to their users. This movement towards mass adoption of cryptocurrency-related products by both crypto-native platforms and TradFi presents unique opportunities and challenges. It raises questions about whether the existing infrastructures of crypto-native platforms can meet the higher standard requirements often associated with TradFi institutions. Additionally, it prompts a debate over who will hold the pricing power of these assets in the future as the industry landscape continues to evolve. The entry of TradFi funds into the cryptocurrency space will likely bring significant changes, potentially altering the competitive dynamics and regulatory landscape. This influx of traditional financial players could lead to increased scrutiny, higher standards for compliance and operations, and possibly a shift in market power dynamics. As these developments unfold, the impact on the cryptocurrency market structure and various stakeholders’ roles will be critical to watch.
Product Highlights
Check out our wealth management promotion.
New user bonus!
About Me
Check out my commentary on the impacts of the Bitcoin halving with Coinpost below.
Interview with Yurufuwa at TOKEN2049.
https://youtu.be/JkZ_jht5hwQ?si=pzwFbgcnKA92M-9O
Chatting with WU Blockchain about BRC20, BingX’s strategy in 2024 was fantastic, and my professional background. Check out the article linked below!
Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article. Not financial advice.
