aelf (@aelfblockchain): 🌊aelf Ventures Weekly News Highlight: 1 November 2024💡

🌊aelf Ventures Weekly News Highlight: 1 November 2024💡 1️⃣Coinbase Unveils 'Based Agent' Tool to Enable AI-Driven On-Chain Automation @coinbase developer Lincoln Murr introduces ‘Based Agent’, a tool enabling users to create an #AI agent linked to their crypto wallet in under three minutes. This autonomous on-chain agent framework simplifies AI agent creation, facilitating on-chain tasks like trading, staking, and more, with smart contract integration. Built using Coinbase’s SDK with support from @OpenAI and @Replit, Based Agent provides flexibility, including an X API for transforming agents into X bots. The goal is ease of use, making it accessible to add customisable functionalities for on-chain interactions.✅ 2️⃣Retail Investors Drive Spot Bitcoin ETF Demand, Capturing 80% of Market Interest Retail investors are driving demand for spot #Bitcoin ETFs, making up 80% of total interest, per a @BinanceResearch report. Since their debut, Bitcoin ETFs have gained momentum, now holding over 938,700 BTC (~$63.3 billion AUM) and accounting for 5.2% of Bitcoin’s supply. #SpotETF absorbs about 1,100 BTC daily, fueling price conditions and institutional interest while outpacing gold ETFs in early adoption. Retail investors seeking regulatory security are also transferring crypto holdings into ETFs, attracting over 1,200 institutional investors. This demand has boosted Bitcoin's liquidity and stability, drawing traditional investors and aligning more closely with financial markets, with its trading volume and institutional capital contributions reducing volatility and enhancing market depth.🚀 3️⃣JPMorgan Report Suggests Stablecoins to Retain Dominance Over Tokenised Treasuries @jpmorgan's latest research indicates that while tokenised treasuries could gradually take on some of the unused cash in stablecoins, they are unlikely to fully replace them. Due to regulatory restrictions such as securities, tokenised treasuries face limitations that reduce their flexibility as collateral within the crypto ecosystem. #Stablecoins, with a $180 billion market cap, currently offer significant liquidity and low transaction fees, making them indispensable for seamless trading across #blockchains. While tokenised treasuries, like @BlackRock BUIDL, may grow in liquidity over time, JPMorgan suggests they will complement rather than replace the stablecoin market.⚖️ 4️⃣Hong Kong to Expand CEX Licenses and Advances Stablecoin Regulations Hong Kong is set to expand its #cryptocurrency sector through new exchange licensing initiatives, with the Securities and Futures Commission (SFC) actively reviewing more platforms to join the three currently licensed exchanges - @osldotcom, @HashKeyExchange, and @hkvax. Hong Kong Monetary Authority (@hkmagovhk) has been developing comprehensive regulatory frameworks, including plans to regulate stablecoins.📊 While establishing #OTC trading guidelines, and implementing the Stablecoin Issuer Sandbox Arrangement launched in March, Hong Kong also aims to address AI challenges with a policy on responsible AI use in finance. Additionally, there are plans to explore new tax incentives for crypto investments which could potentially extend the current breaks for traditional funds and family offices to boost the sector by the end of the year.📈 📥To get connected to aelf Ventures, contact us here: form.aelf.com/contact