Kategorie: Crypto News

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Nevada sports betting revenue hit $1.43B in 2023; Macau sees surge in January

  • Sports gambling has seen rapid expansion in the US since the 2018 Supreme Court ruling allowing states to regulate sports betting within their respective borders.
  • Among the states best known for casinos in the US is Nevada, home to the famous Las Vegas city.
  • Outside of the US, Macau is another destination witnessing a surge in sports betting activities.

Nevada and Macau, two global gaming powerhouses, have recently released their gaming revenue reports, showcasing notable trends in the industry. Nevada witnessed record-breaking figures for both December 2023 and the full fiscal year, while Macau experienced a significant surge in January.

From a groundbreaking Supreme Court ruling legalizing online casinos to the popularity of slots for real money, Nevada has emerged as a powerhouse in the realm of traditional casinos and online casinos including crypto casinos.

Nevada’s record gaming revenue

In December 2023, Nevada achieved a historic milestone with a record-breaking revenue of $1.43 billion, marking a 9.04% increase compared to the previous year.

The state’s gaming industry continued its upward trajectory throughout the fiscal year 2023, culminating in a new statewide revenue record of $15.5 billion. Slot machines remained the primary revenue driver, accounting for $10.3 billion in gaming revenue. However, table, counter, and card games saw a notable growth of 8.35%, outpacing the slot machine revenue increase.

On the regional front, Clark County experienced a substantial 9.75% increase in gaming revenue, reaching $1.27 billion while Washoe County witnessed a slight decline of 2.87%, amounting to $80.4 million. Notably, Elko County stood out with a remarkable 14.96% increase, reaching $36.4 million in gaming revenue for 2023.

These regional variations reflect the diverse dynamics within Nevada’s gaming landscape as the gaming industry continues to thrive in the ‘Silver State’, setting new benchmarks and attracting visitors from around the world.

Macau’s impressive growth

Outside Nevada and the United States, Macau, often referred to as the “Las Vegas of the East” for being a prominent gaming destination in Asia, reported a staggering 67% increase in gaming revenue for January 2024 compared to the previous year.

This surge highlights the resilience and recovery of Macau’s gaming sector following challenges posed by the pandemic. The positive momentum in Macau’s gaming industry bodes well for its future prospects and contributes to the global gaming market’s vibrancy.

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Germany’s DZ Bank set to pilot crypto trading

  • DZ Bank, Germany’s 2nd largest, will pilot crypto trading for cooperative banks.
  • The initiative aims to meet rising customer demand for direct access to cryptocurrencies.
  • DZ Bank’s move reflects a broader trend of traditional banks embracing digital assets amid institutional adoption.

Germany’s DZ Bank, the country’s second-largest financial institution serving approximately 700 cooperative lenders, has announced plans to roll out a cryptocurrency trading pilot later this year. The pilot aims to provide customers with direct access to a variety of cryptocurrencies, including Bitcoin, without the need for financial advice.

The initiative aligns with the bank’s commitment to innovation and meeting the growing demand for digital asset investment options. It also aligns with the broader trend of traditional banks embracing digital assets to meet the evolving demands of their customer base

DZ Bank’s crypto trading pilot program

According to the bank’s plan, each of the 700 cooperative banks associated with DZ Bank will have the autonomy to decide whether to offer cryptocurrency trading to their customers. This approach reflects the findings of a study by Genoverband, which indicates significant interest among banks in providing cryptocurrency solutions.

The initial plan involved partnering with DWP Bank for the cryptocurrency trading pilot, although there are speculations that new partners could join the venture.

DZ Bank’s foray into cryptocurrency trading follows its release of a cryptocurrency custody platform in November leveraging Ripple’s technology solution to offer secure storage and processing of digital assets. DZ Bank had previously announced its partnership with Swiss custody tech firm Metaco before it was acquired by Ripple.

While the bank awaits a crypto custody license from the Federal Financial Supervisory Authority (BaFin), its collaboration with Metaco demonstrates a strategic approach to navigating regulatory requirements while innovating in the digital asset space.

Moreover, DZ Bank’s move to roll out a crypto trading pilot program comes at a time when institutional adoption of cryptocurrencies is on the rise globally. Institutions like BlackRock and Fidelity securing approval for spot exchange-traded fund (ETF) applications in the US underscores the growing acceptance of digital assets within the mainstream financial sector.

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Bitget BTC halving study: 84% investors predict Bitcoin will hit a new ATH

  • Bitget’s report reveals that 84% of survey participants predict Bitcoin (BTC) will hit a new all-time high in 2024.
  • About 70% say they have plans to add to their crypto investments as they eye the next bull run.

Bitget, one of the crypto exchanges to see remarkable growth in 2023, has released findings of a new study on Bitcoin’s upcoming halving, which shows an overwhelming majority of investors are bullish on the flagship cryptocurrency post-halving. 

Nearly three quarters say the potential for Bitcoin price to skyrocket to a new high weighs on their plans to add to their investments in 2024.

The crypto exchange shared the findings of the survey in a report published today, Thursday, February 1.

Bitget’s study – an overview

An analysis of anonymized data that focused on investors’ perceptions around Bitcoin’s upcoming halving and how this impacted their investment decisions showed that the market is largely bullish on BTC.

Here’s a highlight:

  • 84% of survey participants the next bull run will see Bitcoin price surpass its previous all-time high of $69,000. Only Europe had a percentage lower than 80% among all regions.
  • Over 50% of all respondents predict BTC will be between $30k and $60k by halving (expected around April 2024. 30% of participants think it could be higher than $60k.
  • About 70% of respondents said they have plans to add to their crypto investments. Highest conviction was expressed across MENA and East Europe.
  • Western European investors are largely “short-term cautious” and “long-term optimistic”.

2024 could be significant for Bitcoin, Bitget’s Gracy Chen says

According to Bitget, a diverse global demographic group of investors participated in the study. In total, 9,748 individuals drawn from across West Europe, East Europe, South East Asia, East Asia, MENA and Latin America shared their views and predictions for BTC pre-halving and post-halving.

Other than the above highlights, the report also shows 55% of participants see Bitcoin price in the $50k-$100k post halving in 2024. A smaller percentage predicts a run to above $150k. More people in West Europe, 51%, expressed this expectation.

Commenting on the findings, Bitget Managing Director Gracy Chen said: “The Bitget Study on BTC halving impacts provides valuable insights into the evolving landscape of cryptocurrency investment. The findings reflect a broad spectrum of expectations and investment plans, indicating that 2024 will be a significant year for the Bitcoin market.”

Bitcoin traded at $42,700 on February 1, 2024, up 6.9% in the past week. Following declines in January, the benchmark cryptocurrency was 5.8% down in the past month. 

However, analysts at Standard Chartered Bank are among those to point to a bullish run for the digital asset, which reached highs of $49k amid the spot Bitcoin ETF euphoria. Analysts at the bank predicted last year that BTC could rally to highs of $120k by end of 2024.

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Astar Network announces mainnet launch for its Polygon-powered zkEVM

  • Astar zkEVM mainnet is set to go live this month.
  • A launch campaign dubbed “Yoki Origins” will commence immediately after the zkEVM mainnet

Astar Network, a multi-chain smart contracts and Web3 infrastructure platform, has announced the mainnet launch of Astar zkEVM, a new Layer 2 scaling solution for Ethereum. Astar zKEVM is a zero-knowledge Ethereum Virtual Machine- compatible L2 powered by Polygon’s Chain Development Kit (CDK).

Popular in Japan and expanding across the globe, Astar Network, is the cross-virtual machine network that leverages Polygon and Polkadot technologies. 

The platform revealed plans for the Astar zkEVM mannet launch last month, highlighting the benefits that compatibility with Ethereum smart contracts, toolset and wallets will bring to its growing community.

Astar zkEVM to go live in late February

According to Astar Network’s press release today, the new zkEVM L2 is expected to go live later this month, with its launch bringing a secure, scalable and gas-efficient blockchain platform to Web3 projects and enterprises.

Already, Polygon-based DEX platform Quickswap, omnichain interoperability protocol LayerZero, blockchain data indexing protocol The Graph and Rarible, an aggregated NFT marketplace, are some of the top projects that currently tap into Astar zkEVM.

Several leading Japan-based enterprises are also set to integrate with Astar zkEVM.

“Astar Network is proud to be an early pioneer in the use of Polygon’s zero-knowledge technology and Chain Development Kit to enter the Ethereum ecosystem. Astar zkEVM will establish a bridge between Japan and the broader web3 ecosystem, with projects by top Japanese enterprises, famous IPs, and prominent industries to be unveiled soon,” Maarten Henskens, Head of Astar Network, said.

Yoki Origins – the Astar zkEVM mainnet launch campaign

Astar Network plans to roll out an incentive program dubbed ‘Yoki Origins’ immediately after the zkEVM platform goes live.

Yoki Origins launch campaign

The campaign program intends to provide access to Astar Network’s original characters, which are inspired by Japanese Yokais “Yokis. With over 40 Web3 projects, creators and enterprises involved, the campaign will be a big chance for users to explore and interact across the Astar zkEVM platform.

As well as acquiring Yokis, users will have an opportunity to grab artwork by various artists, builders and enterprises. Users can acquire Yokis via Capsule Machines, or “Yo-Ports”.

According to Astar, ”Yoki Origins” will support social logins as well credit card payments, making it possible for anyone to join and participate.

Commenting on the launch campaign aims to achieve, Henskens, noted:

“The Astar zkEVM launch campaign “Yoki Origins” will help demonstrate the extent of our ecosystem’s reach, while celebrating our Japanese origins in a way that’s uniquely Astar.” 

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LayerZero and Delegate launch Clusters, a multichain naming protocol

  • LayerZero announced its LayerZero V2 upgrade three days ago with enhanced cross-chain interoperability with Universal Messaging and Modular Security.
  • Clusters introduces a multichain naming protocol for seamless blockchain address management.
  • Delegate’s expertise in address management ensures security and reliability in the Clusters ecosystem.

LayerZero Labs, in collaboration with Delegate, has announced the launch of Clusters, a groundbreaking multichain naming protocol designed to streamline user interaction across various blockchain networks.

With this innovative solution, users can maintain a consistent identity and manage their blockchain addresses seamlessly, transcending the limitations of individual chains such as Ethereum, Polygon, Avalanche, and Solana among other EVM chains.

The Clusters Protocol 

Clusters is set to revolutionize the landscape of blockchain naming protocols. Unlike traditional solutions like the Ethereum Name Service (ENS), Clusters offers a cross-chain, multi-wallet naming protocol, catering to the needs of multichain enthusiasts.

LayerZero’s technology serves as the backbone of Clusters, facilitating seamless message flow between different blockchains. It is important to note that Cluster will benefit from the recent LayerZero V2 upgrade which brings on board advancements in cross-chain interoperability and application development with the key feature being Universal Messaging, enabling the seamless transmission of diverse message types across over 20 blockchain networks.

LayerZero’s integration allows Clusters to maintain accuracy across millions of names and billions of wallet addresses, ensuring a smooth and reliable user experience. Moreover, LayerZero’s Permissionless Execution feature empowers individuals to participate in the operation of the protocol, promoting decentralization and community involvement.

On the other hand, with its experience in managing blockchain addresses through Delegate Cash, Delegate brings a wealth of expertise to the development of Clusters. Delegate’s technology has already secured nearly $1 billion worth of assets across thousands of wallets, providing users with confidence in the security and reliability of the Clusters ecosystem. Major NFT projects, including Yuga Labs and Azuki, have already integrated with Delegate’s technology, underscoring the platform’s relevance and adoption within the blockchain community.

By providing a universal naming protocol that spans multiple chains, including Ethereum, Avalanche, Plygon, Solana, and other EVM-based networks, Clusters addresses critical issues such as address fragmentation, wallet management complexity, and domain squatting. This innovative solution enables users to maintain a consistent identity and interact seamlessly with decentralized applications and protocols across diverse blockchain ecosystems.

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