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What Lays ahead for Abingdon health stock In the Near Future?

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What Lays ahead for Abingdon health stock In the Near Future?
  • ABDX stock has had a great year in terms of returns generating over 80% returns in the past 1 year.
  • After a great bull run till June, the stock has since then entered a strict range bound movement which is yet intact. 
  • The current setup looks neutral and thus the upcoming weeks will be crucial in deciding the stock’s future.

Abingdon Health is a British manufacturer of lateral flow assay diagnostic tests, sometimes called rapid tests, lateral flow immunoassays, lateral flow tests quick tests. Since its formation in 2008, Abingdon Health has developed and manufactured lateral flow rapid tests across multiple industries.

Financials for the company look slightly weak as the numbers are relatively small and the company has not been profitable since 2019 which makes it problematic for the stock and its investors. 

Abingdon Stock Analysis

Technical analysis for the stock

The stock generated a massive 60% plus returns alone in 2023 for its investors when it touched its 52-week high at 18.5 pence in mid-June. Post that, volumes dropped and volatility reduced in the stock leading to a constant sideways range bound movement which is yet intact. 

One can look at this as profit booking after a good rally which is usually expected when a stock delivers huge returns like this.

14.10 pence is an important resistance as the stock has faced rejection from that level at various times. The last trading session saw a gap up opening very close to this level which was then followed by a constant and sharp selling indicating the strength of the supply zone there. 

Talking about the current setup, sellers have entered in a huge quantity but till the time the stock traded above 10 pence, one should not worry much. If we do see a breakdown from 10 pence, we have a big target till 8.7 pence which is comparatively a big downside. 

If the stock does breach 14.1 pence in the upcoming days, 15.4 pence stands as the first target and resistance for the stock. 

Abingdon Stock Technical Analysis

On an hourly scale, we see severely low volumes in the stock since the past month. This is a major reason for the constant consolidation and sideways movement the stock has been facing since a long time. 

In a scenario like this one, major movements are less likely to happen as neither buyers nor sellers are currently interested in the stock. 

The current levels to watch out for are 10 pence on the downside and 12 pence on the upside.  A stronger movement can be expected if the stock breaches these levels on their respective sides.

Conclusion

The stock is currently facing a volume and liquidity crunch due to which it is moving highly sideways. One should wait for the stock to breach strong levels so higher volumes can be seen before making any move. The overall setup looks neutral and thus the upcoming weeks will be crucial in deciding the stock’s fate.

Important technical levels

Major support levels: 10 pence followed by 8.5 pence.

Major resistance levels: 12 pence followed by 14.1 pence.

Disclaimer

The views stated by the author or any person named in this article are purely for educational purposes and do not establish financial or investment advice. Investing or trading in instruments like stocks and crypto involves financial risk and should not be done without doing proper research and analysis. 

Worldcoin: AI-Based Cryptocurrency With Digital Identity Foundation

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Worldcoin: AI-Based Cryptocurrency With Digital Identity Foundation
  • Worldcoin is a cryptocurrency project that developed a unique World ID to address income inequality.
  • This crypto project includes a global currency based on ERC20 named worldcoin (WLD). 

Worldcoin came across as an initiative that strives to build a digital network. In this network, users can join the digital economy by claiming some kind of staking proof. World app provides a device called “Orb” which gives access to users to scan the iris pattern of a person and collect their biometric data. This helps in getting World ID through the application. These scanned participants are further allowed to collect WLD tokens.

What Is Worldcoin?

This is a digital identity platform that aims to provide a convenient way to verify to everyone on earth that they are real humans and not an artificial intelligence algorithm. Its development company claims to be a tool for Humanity. It was co-founded by OpenAI CEO Sam Altman, who is popular for chatGPT creation. 

He played a major role in sparking the AI gold rush nowadays. Ironically, this significantly worsened the limitations that Worldcoin strives to solve. This project built its interface of a digital support system via blockchain tools and cryptography to leverage the emerging world of blockchain technology along with developing a payment platform.

Working of Worldcoin

World ID is meant to be the core of this platform. This company claims it to be a privacy-based platform where users can verify whether they are human or just a chatbot or any other AI-based mechanism. They strive to be an AI-safe platform with an iris-scanning device named “Orb” that’s used as “Proof of Personhood”.

Its embedded biometric security feature provides safety and security with proper authentication of a user. Just like fingerprints, every human’s iris pattern is different. The orb feature scans it and creates a global unique ID code (IrisCode). It doesn’t inherit a user’s personal data, instead, it prevents individuals from creating multiple World IDs.

Upon iris scan, an anonymous IrisCode is generated, leading to the assignment of a World ID. The iris images themselves are permanently deleted, streamlining subsequent access without repeated biometric scanning. These World IDs are seamlessly integrated into the Worldcoin blockchain, facilitating the development and deployment of secure cryptographic applications to validate one’s identity.

About World Token (WLD)

Worldcoin has an ERC-20 protocol-based token on Ethereum’s blockchain called World Token (WLD). During its inception, Worldcoin migrated to the OP mainnet, which was previously referred to as Optimism for Layer-2 Ethereum blockchain. This migration of the Worldcoin project is now working over Ethereum being an intermediary for Polygon’s proof-of-stake consensus and Optimism as well.

The launch of WLD tokens witnessed distribution among beta program participants who underwent iris scanning. Substantial WLD allocations were airdropped upon the platform’s official unveiling. Multiple cryptocurrency exchanges swiftly listed WLD tokens for trading.

After its initial launch, it had a total circulation of 143 million WLD tokens. 43 million tokens were expected to be allotted to this application’s verified users. The remaining 100 million were assumed to leverage trading by market makers. According to its whitepaper, about 10 billion WLD tokens will get assigned over 15 years.

Conclusion

Since Worldcoin’s launch, it’s always been surrounded by criticism and controversies. Responding to these criticisms, Worldcoin submitted its counter statement about being a business model that’s only interested in user’s uniqueness, but not selling their personal data or information. Among all these dilemmas, this project is still gaining traction from various Silicon Valley investors. Its own AI predicted that by 2023, over 1 billion people will gaze into its Orb feature.

Apple and The Metaverse: What’s The Mystery Behind Them?

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Apple and The Metaverse: What’s The Mystery Behind Them?
  • With the launch of Apple Vision Pro, Apple made a clear move towards the linkage of the digital and physical worlds. 
  • Now, the next question is whether there are any metaverse plans from Apple’s side to interrupt the global digital industry.

According to a report by Fortune Business Insights, the global metaverse market size will grow from $416.02 Billion in 2023 to $3,409.29 Billion by 2027. Now the stats show us that Metaverse will become a big industry in the near future. If it does, many prominent players will try to lead this industry.

If we look at the current scenario, then Facebook will be at the top, as it has played a significant role in the development of these virtual worlds. Its motto is always to connect people in a digital world. Now, with the launch of Apple Vision Pro, Apple has also made a significant step in connecting the physical world to the digital world.  

So, the main question arises is Apple on the way to making a significant move in the metaverse industry? 

Apple and Metaverse: Till Date

We all know that Apple may be a major company within the innovation industry. Similarly, we have seen a few truths and figures with respect to the Metaverse.

Now the launch of Virtual Reality Headsets by the big giant has doubted the mainstream about the future steps of Apple. 

If Metaverse is a fighting ring, then Google Glass, Facebook’s Meta, and Apple’s Vision Pro are the fighters. These three companies are trying to gain dominance in the Metaverse industry. Now, it’s important to see who will gain dominance in the near future.

Is the metaverse the future?

Directly speaking, the metaverse is not the future, as the metaverse is far from what we understand right now. It is somewhat different from how Meta portrays it. It is way more than the virtual world. However, what the future will be is not defined, but it has way more potential than it has to date. 

Is Apple Taking a Significant Step in the Metaverse? 

Well, with the launch of the VR headset, we can’t say that there is some connection between the company and the metaverse industry. Also, from a news report, it is seen that Apple will make a significant step towards what is called AI to gain dominance. So, we can’t say that Apple has made a significant step in the Metaverse. 

In expansion, there are parts of companies that will compete with Apple. So everything depends on what will happen in the future. Well, we can just sit and enjoy the Vision Pro by it and enter the virtual world. 

Investment In The Virtual Lands Of Metaverse The Next Big Gig?

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Investment In The Virtual Lands Of Metaverse The Next Big Gig?
  • Investors are pursuing virtual land to diversify their portfolios and hope for high returns. 
  • The metaverse can be called a virtual imitation of the real world around us. 

Although it has been researched and under development for quite a few years, the word metaverse came into public light only after a big move by Facebook, where they stated their intention to rebrand themselves as Meta. Since then, several companies and tech giants have invested in various domains to realize the dream of the metaverse. 

The metaverse can be called a virtual space that is shared by everyone and imitates the real world around us. This virtual world is accessed through Augmented Reality (AR) and Virtual Reality (VR) technology, which includes glasses, headgear, gloves, and other wearables. People roam around the land in their digital representations called avatars and engage in commerce, entertainment, work, and other activities. 

Lately, the concept of investing in the metaverse by buying virtual land has gained immense popularity, especially after the inclusion of celebrities on the list, including Paris Hilton, Snoop Dogg, Shawn Mendes, Lady Gaga, and several others. Virtual real estate has become the next big thing and investors are looking into it. 

Virtual Real Estate

Platforms such as Decentraland and Sandbox provide opportunities for investors to buy their piece of virtual land in the infinite world created within these platforms. People may wonder that the physical land has value and can be touched, danced, and constructed upon; however, the virtual land is just a few GB of storage on a server, What good could it be?

With the attention blockchain-based applications have gained, especially after the launch of Ethereum, which came up with the concepts of decentralized finance (DeFi) and smart contracts, people have started to shift gears. Instead of relying on centralized authorities, people are moving over to DeFi apps, which have proven to be cheap and efficient.

Also, the cryptocurrency market has seen immense growth in its value in the past few years, with people ultimately realizing the potential they hold and moving over to them. The economic model followed in the metaverse would be token-based, with cryptocurrencies being the mode of exchange for goods and services and serving the same purpose fiat currencies do now. 

Moreover, the non-fungible token (NFT) had an amazing season in 2021, with people becoming obsessed with it. The wave started mainly by the Bored Ape Yacht Club (BAYC) NFT collection, which engulfed several celebrities and artists, has now become a tide. Many NFT platforms and marketplaces have opened up that allow users to list, mint, and trade NFTs. NFTs are unique digital assets that provide proof of ownership to their owner and can be text, song, video, artwork, or even digital land. 

The virtual land people buy in the metaverse will be in the form of NFT, which can be kept as an investment, rented, or even traded. Although investors are rushing over to virtual land, the competition is still low, and people can enter the market easily. Owing to being digital and listed over the blockchain network, virtual lands have high liquidity and are considered a good investment to diversify your portfolio. 

Conclusion

As seen in the physical world, the initial price of land is cheap, but after the population settles and the area becomes developed, the price rises. A similar case is also true in the metaverse. Most platforms have a central zone where most avatars land, and buying areas around them can be highly rewarding. However, investors must also consider the risks involved. The high market volatility and lack of a past performance record because of its infancy can sow seeds of doubt in some investors. 

What Are Blockchain Bridges How Do They Improve Interoperability

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What Are Blockchain Bridges How Do They Improve Interoperability
  • Blockchain bridges are built to improve the interoperability of blockchains.
  • They are mainly of two types Trustless Bridges and Trusted bridges

What Are Blockchain Bridges?

The basic functioning of blockchain bridges is just like the bridges in the real world. The basic work of bridges is to connect two different locations. A blockchain bridge has the same functioning in the blockchain ecosystem. In the case of blockchains bridges, they facilitate communication between different blockchains by transferring information. 

They allow users to port their assets from one blockchain to another. This solves a major problem of the blockchain infrastructure which is interoperability. 

What is the Need for Bridges?

Blockchain has many types of problems. For example, ethereum has a major problem of scalability. Therefore to temporally solve this problem it uses layer-to-scaling solutions such as rollups which are of two types – optimistic rollups and Zero-knowledge proofs. The blockchain have their isolated environments which do not allow for tokens to move freely between the blockchains. 

Although the main use of blockchain bridges is to improve inter-blockchain connectivity other than this they can also be used for:

  1. Cross-chain transfer of assets and information.
  2. It significantly improves the capabilities of Decentralized applications by allowing them to access various blockchains so that they can utilize the resources of all of them.
  3. Users can then access newer platforms and also leverage the benefits of the different chains.
  4. Developers from different blockchains can collaborate to the generation of new ideas, hence, improving the functioning of the overall blockchain ecosystem.

Types of Bridges

Blockchain bridges are mainly of two types Trusted and Trustless bridges 

  1. The trusted bridges are those which depend on the central entity for their functioning. They are managed and operated by centralized organizations. Trustless bridges are designed to operate without any centralized network with the help of smart contracts and algorithms.
  1. The trusted bridges are called trusted because they require trust in the operator. The trust assumptions are made based on the custody of funds and the security of the bridge. Users need to trust the bridge operators. While in trustless bridges the security of the bridge depends on the security of the underlying blockchains. Hence there is no role of the operator as there are no operators in these types of bridges; everything depends on the security of the blockchain.

Risks Associated with These Bridges

Blockchain bridges are a new technology and are currently in the early stages of their development. Therefore they are associated with certain risk factors. Some of the risks are listed below.

  1. Smart Contract Risk

The bridges often work based on smart contracts. These smart contracts are just codes that support the functioning of the bridges. If a developer wants, they can inject some malicious codes into the smart contracts of the blockchain bridge. This results in the user’s funds being lost. 

  1. Technology Risk

Since they are just a new technology they are also associated with all the risks associated with modern technologies whether international or unintentional. These risks are software failure, buggy code, and even human errors. 

  1. Censorship Risk

This issue is especially associated with centralized bridges. Because in the centralized bridges, the whole control of the control of the bridges is in the hands of a few centralized authorities. They can utilize this authority to stop users from performing transactions. 

Star Atlas: A Virtual Game Based on Web3 Metaverse and NFTs

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Star Atlas: A Virtual Game Based on Web3 Metaverse and NFTs
  • Star Atlas is a space-themed futuristic game built on the Solana Blockchain.
  • Within the Star Atlas metaverse, players can trade, create, and collect non-fungible tokens (NFTs) available in the form of collectibles and game items.

Star Atlas is considered a great achievement in its in-game economy, offering functionalities like unbounded earnings, deposit, and withdrawal, along with the ability to transfer earnings to fiat currency while maintaining individual ownership over assets. This game opens up vast earning opportunities for players.

What is Star Atlas?

It is a web3 metaverse-based game that allows users to play and earn through numerous features and opportunities. It exercises full control over the virtual ecosystem, similar to other Web3 games. Entire cities have been built within it, and DAOs govern its proper functioning. As a reward, players receive ATLAS, the in-game currency in it.

There’s no doubt about why this game is generating serious hype. It implements blockchain technology and NFTs while maintaining smooth graphics and augmented reality. The game is set in the year 2620, where three groups known as The Mud, ONI, and Ustrus engage in battles for resources and territories. Essentially, game players are the denizens of Star Atlas, and they receive real-life rewards for their contributions.

Star Atlas
                                 Star Atlas experience (Source: staratlas.com)

Why Is Star Atlas Different from Other Play-to-Earn Games?

Developed on digital ledger technology, it stands apart from numerous other play-to-earn games. This web3 game is built on the Solana blockchain, offering various opportunities for earning cryptocurrencies and trading NFTs. The game’s economy is controlled by decentralized finance (DeFi) and metaverse, with its in-game currency being named ATLAS and POLIS.

ATLAS:

ATLAS functions as the primary in-game token and provides liquidity to it. Players can earn ATLAS through in-game purchases or by participating in specialized events. These tokens have various utilities, allowing users to spend them on rare items such as ships, tools, and crew members.

POLIS:

Political influence plays a major role in the game, and Polis tokens govern this aspect of Star Atlas. It is a multi-functional token with importance in the game’s world economy. The amount of Polis a player possesses determines their significance and control over their territory, enabling them to impose restrictions on different activities and levy taxes and tolls. Polis provides players with the right to vote and enables them to have a dictatorship over their region.

NFTs in Star Atlas

Every aspect of the Star Atlas metaverse, whether it’s minerals or resources, is represented by non-fungible tokens (NFTs). The game developers carefully approach the issuance of new NFTs to avoid manipulating other players through price depreciation.

Issuance of new tokens is done with proper caution, and in-game purchases become part of the inventory with unique characteristics and storage in the player’s wallet. NFTs are available in various forms, such as Collectibles, Usernames, Ships, Structures, and Access tokens.

Conclusion

Star Atlas is an innovative web3 metaverse game that offers multi-functional access and various opportunities compared to other play-to-earn and pay-to-earn games. Players can engage in various functionalities, such as mining and accessing in-game levers to earn profits. The game’s marketplace provides user-friendly features for buying and selling NFTs. It has the potential to influence both the in-game and real world with its trend-setting capabilities.

Will Messaging in Web3 Wallets be the Doom of WhatsApp?

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Will Messaging in Web3 Wallets be the Doom of WhatsApp?
  • Etherscan and Coinbase are in a continuous effort to develop software that allows anonymous text messaging within the Web3 wallets.
  • These messaging wallets will maintain the safety and anonymity of the user, due to which people might shift from WhatsApp to Web3 messaging.

With continuous advancements in the Web3 industry, two of the major players in the market, Etherscan and Coinbase, have developed software that allows fast, secure, and anonymous text messaging by employing the Ethereum Name Services (ENS) domain. 

The creation of this groundbreaking technology in the Web3 space can redesign the whole communication network between crypto enthusiasts. It offers a wide range of use cases, from NFT trading negotiations to establishing fruitful community relations. 

Web3 Wallets as Decentralized Messaging Platforms

Ethereum Name Service Domain is not a new concept, it has been around for a while now and is recognized as one of the pivotal tools for simplifying the world of cryptocurrencies. This technology allows users to associate human-like names with Ethereum addresses. This replaces the need for lengthy cryptographic strings with memorable identifiers.

Etherscan and Coinbase are making continuous efforts to enhance the utility of this technology beyond address resolution. Both Web3 firms are developing features that can harness the power of ENS domains to provide safe, secure, and anonymous text messaging.

Use Cases of Web3 Wallets as Messaging Platforms

  • NFT Trading Negotiations

Integration of text messaging in Web3 through Ethereum Name Services can accelerate seamless negotiations between parties interested in buying or selling NFTs. Through this, the buying and selling entities can maintain privacy and security while discussing prices, terms, and conditions.

  • Community alerts and Notifications

With the installation of a new messaging system, project teams can convey relevant information to their team members in a systematic manner. This ensures that the members receive relevant and timely information without compromising their privacy or being exposed to risks.

  • Building strong connections at events

This feature can come in handy at Ethereum conferences and meet-ups. Crypto aficionados can use this to build connections within the community, exchange information, and seamlessly set up meetings. The layer of anonymity ensures a secure and seamless flow of communication among the attendees.

  • Maintains anonymity in personal communication

By using this technology, users can communicate with each other without revealing their identities. This helps build connections based on shared interests and ideologies rather than traditional identifiers.

Will this Abolish WhatsApp’s Existence?

This technology is expected to hamper the operations of traditional messaging platforms like WhatsApp. The new technology that boasts security and anonymity and is built into the Web3 wallets empowered by the ENS technology offers a distinctive substitute for traditional messaging platforms.

With each passing day, users are becoming more and more privacy-centric. Thus, the pseudonymous and encrypted nature of Web3 messaging might be more appealing to them. This may potentially result in users shifting from traditional messaging platforms like WhatsApp to Web3 messaging platforms.

As we discussed above, the use cases presented by Ehterscan and Coinbase, like NFT negotiations, community building, etc., highlight the flexibility and versatility of the Web3 messaging system, making it an attractive project for crypto aficionados.

Conclusion

All in all, it can be said that fostering accountable adoption and usage, will be beneficial for the industry to harness the true potential of this innovation while mitigating its potential shortcomings. As the Web3 space continues to evolve, it will be intriguing to witness how this innovation shapes the Web3 landscape as a whole.

Directed Acyclic Graph (DAG): Understanding the Concept

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Directed Acyclic Graph (DAG): Understanding the Concept
  • DAG is capable of handling streams as well as batch data sets because it can be applied to the processing of both data sets.
  • The data is sometimes stored for long periods and for more contingent analysis.

What are Directed Acyclic Graphs?

DAG is a graphical representation of a series of activities. The order of these activities is determined by a graph visually represented by circles.

Each circle depicts a specific activity. Out of all the circles, some are connected by lines, these lines represent the flow of information between different activities.

Unlike blockchain, which contains blocks and stores data in these blocks, DAG consists of vertices and edges. The transactions are recorded on these vertices and this data is stored on top of one another

Like on the blockchain, the data is sent to the DAG by nodes only. These nodes are required to complete a Proof-of-Work task in order to submit a transaction.

DAG is not so different from blockchain when it comes to administering new transactions. Just like blockchains, which require new blocks to reference previous blocks in order to get accepted into the network. New transactions on DAG should reference previous transactions in order to get accepted into the network.

DAG employs an algorithm that determines the tip on which the transaction will be built. The tips with the highest number of confirmations are most likely to be selected for the building.

Compared to blockchains, Directed Acyclic Graphs have a number of identifiable advantages. Such as the transaction speed is higher as the transaction processing is not delayed by block creation as it gets in the blockchain.

DAGs do not incur any transaction fees as there are no miners, and since there are no miners, the environment is free from the pollution caused by mining.

Now, it’s not all roses for DAG, it has some downsides too. The major one is unlike blockchains, they are not decentralized. Moreover, the use of DAGs is in its nascent stage. These two are the major reasons why DAGs are being used only for starting a network and not for building a stable and lasting network.

Uses of Directed Acyclic Graphs

DAGs are used for data processing flows, among other important types of flows. By keeping large-scale data processing in mind, it is easier to take plausible steps to organize these jobs. 

In a data processing environment, multiple series of computations are performed on the data to create one or more destinations for that data. This type of data flow is called a data pipeline. 

Say, for example, that the sales data can be processed immediately and analyzed to produce real-time results that can be recommended to the customers.

Since this data is a part of the processing lifecycle, it goes through multiple levels of the process, which include, 

  • Cleansing: This means correcting incorrect or invalid data in the processing cycle.
  • Aggregation: It means the calculation of summarised data.
  • Enrichment: This means, identifying the relationships between other relevant datasets.
  • Transformation: This means, writing the data into a new format.

One pivotal characteristic of DAG’s data processing models is that they have multiple pathways for the information to flow in multiple directions. This is crucial because it identifies the need to process data in multiple ways.

Conclusion

Directed Acyclic Graphs (DAGs) offer a promising alternative to traditional blockchains for data processing and transaction handling. While they have advantages in terms of speed and transaction fees, their centralized nature and relative novelty still present challenges. DAGs are particularly suitable for data processing flows, allowing for efficient organization and analysis of large-scale data in various ways. As technology advances, DAGs may find wider applications in building robust and lasting networks.

Nasdaq Delays Crypto Custodian Launch Amid Concerns

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Nasdaq Delays Crypto Custodian Launch Amid Concerns
  • While it was preparing for the launch, Nasdaq had already developed the essential products required to be a crypto custodian.
  • Nasdaq is planning a launch by the end of July 2023.

Nasdaq President on Halting the Launch  

In terms of volume, Nasdaq, the world’s 2nd largest stock exchange and the most active stock exchange in the United States, has backpedalled from digital assets and halted its plans to launch its cryptocurrency custodian service, which the company had announced would launch by the end of the 2nd quarter of 2023.

This move comes in view of regulatory risks and the changing business environment, as said by Adena Friedman, President of the Nasdaq. 

The exchange has also suspended its efforts to obtain a licence for the crypto custodian business. However, it still plans on serving its crypto clients.

In the firm’s 2nd quarter results call, the President, Adena Friedman, stated that the firm is devoted to serving the digital asset community in all possible ways, and by partnering up with prospective ETF issuers. In addition, the President also claimed that Nasdaq will thoroughly monitor market conditions for future events. 

The reason behind Nasdaq pulling back from the crypto custodian business was the widespread repression by the regulators that wanted the US’s financial system to be secluded from the risks associated with crypto.

With multiple banks across the US being warned about their exposure to crypto assets, the Securities and Exchange Commission of the United States has sued a few of the biggest players in the crypto market, including Coinbase Global Inc. and other leading crypto firms. 

Among other concerns, one of the major ones for the decision is the risk that it could topple the federally insured banks, along with some parts of the crypto platforms falling through the cracks. These parts include custody, market-making, and trading, which can potentially result in a conflict of interest.

In a conversation with Bloomberg, Nasdaq President, Adena Friedman remarked that Nasdaq prefers to work in a neat environment with a regulated framework. She further said, “Since this regulatory framework is transitioning, Nasdaq has halted its efforts towards the crypto custodian and decided to focus on its tech and listings businesses”. She also added that Nasdaq’s return to the crypto business will entirely depend upon the pertaining market conditions.

The Backstory of Nasdaq’s Plans Regarding its Entry into the Digital Asset Scenario

In September 2022, Nasdaq made it public that it would accept the custody of digital assets like Bitcoin and Ether from institutional investors. The firm has also sent an application to the New York Department of Financial Services to issue a licence for carrying out these services.

Nasdaq’s previous attempt to put its foot into the waters of digital assets was viewed as a sign of Wall Street Institutions’ vested interest in digital assets. The launch of this service was planned for the end of the second quarter.

In addition to this, Nasdaq has partnered up with Blackrock Inc., the world’s largest Asset Management Company, to file for Bitcoin ETFs to make Bitcoin investing easier.

Robin Vince, the CEO of Bank of New York Mellon, which recently launched crypto custody services, has remarked that the product, crypto custody services, was never in the front seat of the company’s digital assets journey.

Conclusion

Nasdaq’s decision to halt the launch of its crypto-custodian business reflects the regulatory risks and changing environment surrounding the crypto industry. The focus on serving the digital asset community through partnerships while monitoring market conditions indicates a cautious approach. The future reentry into the crypto space will depend on prevailing market conditions and regulatory developments.

What Are Crypto Wallets And Which Are the Best In July 2023?

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What Are Crypto Wallets And Which Are the Best In July 2023?
  • Crypto wallets are needed to store the public/private keys and digital assets of a user.
  • The rise of cybercrime has led users to migrate to crypto wallets to keep their tokens safe and secure. 

Crypto wallets are used to hold cryptocurrency, much like real wallets, which we use to retain our cash and change. Users really keep their public and private keys safely in their wallets, giving them access to all of their digital possessions. Seeing a large number of hacks and cyberattacks, it’s high time users started taking adequate measures to secure their crypto assets. 

Wallets can be of two types based on the storage platform, namely hot and cold wallets. Hot wallets are connected to the internet, which accounts for their high convenience but also hints at their safety. Cold wallets are physical devices like pen drives, hard disks, etc., that are not connected to the internet, making them highly secure. Based on responsibility, wallets can be custodial (third-party owned) or non-custodial (self-owned) wallets. 

The Top Crypto Wallets To Watch Out

  1. Coinbase Wallet

The wallet is quite safe and is supported by a well-known brand in the business. It is the perfect option for newbies who are just beginning their cryptocurrency adventure due to its basic user interface (UI), readily accessible features, and recognizable functionality. The wallet is highly secure, and the inbuilt Enclave chip provides biometric authentication to the users. It is connected to all the major banks and supports Bitcoin, Dogecoin, ERC-20 tokens, and others, amounting to more than 5500 digital assets. 

Users can go with a Coinbase wallet without opening an account on the Coinbase exchange, one of the oldest and most prominent in the crypto space. 

  1. Metamask

The easy user interface has already helped the platform support the visits of 30 Million+ monthly active users. The wallet is considered the best for Ethereum owing to its ability to support nearly thousands of Ethereum tokens and decentralized apps (dApps). Users can easily navigate to several dApps through the simple navigable functions. 

Metamask has also earned its name in being compatible with other blockchain platforms like Binance Smart Chain, Avalanche, and Polygon. It is a desired wallet to trade non-fungible tokens (NFTs) in NFT marketplaces like Opensea. It can be easily downloaded as a web extension on popular browsers like Chrome, Mozilla Firefox, Edge, and Brave, as well as Android and iOS apps. 

  1. Trust Wallet

The crypto wallet is the official mobile application of Binance, one of the most prominent crypto exchanges. The wallet has strong built-in support for dApps, which makes it ideal for enthusiasts and investors. Trust Wallet also has a built-in Web3 browser, which helps users navigate several NFT projects before settling on one. Although it is linked to Binance, the wallet is non-custodial and does not ask for your private keys. It is compatible with nearly 65 blockchain platforms, making the application support more than 4.5 Million digital assets. 

  1. Ledger Nano S Plus

Ledger is already a reputed brand in the crypto space, and its products are known for their high security. The Nano S Plus is the upgraded version of the Nano S, which now has an improved display, more storage, and additional USB-C type support. The company is known to use chips, as found on passports and credit cards, to provide unmatched security to their hard wallets. Users can also have a trading experience through the integration of the Ledger Live platform. 

Conclusion

There are several other crypto wallets, such as Electrum, Exodus, Crypto.com, Trezor, BlueWallet, and several others. Each wallet comes with its pros, cons, and unique features. Users must perform thorough research regarding authenticity, security, and convenience, before resting on a particular wallet. Moreover, the selection of a particular wallet largely depends on the personal taste and requirements of the user. 

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