Digital Asset Market Dynamics

South Korea's central bank postpones CBDC project, banking sector may focus on stablecoins

The Bank of Korea has decided to temporarily suspend the second round of testing for the central bank digital currency ( CBDC ) project. This decision stems from an increase in feedback from participating banks, as well as heightened discussions in the National Assembly and among the public regarding the introduction of a Korean won stablecoin. Against the backdrop of unclear prospects for the coexistence of CBDC and private stablecoins, the Bank of Korea has chosen to postpone further testing to reduce uncertainty.

It is expected that major banks will focus more on the introduction of the Korean won stablecoin. Currently, 9 banks are participating in relevant discussions, and another 3 banks are considering joining. This indicates that interest in stablecoins is rising within the South Korean financial industry.

Ethereum Community Launches "Time Capsule" Commemoration Project

The Ethereum community is launching an on-chain "time capsule" project to commemorate the tenth anniversary of the network's genesis block. Users can store content such as artworks, memories, messages, and predictions in a smart contract, which is planned to be opened next year on the network's 11th anniversary.

The project was unveiled at the Ethereum community conference and received support from multiple parties. Users can submit content by paying a small amount of Ether, and the revenue will be used to support core research. All submitted content will be encrypted using threshold encryption technology, decrypted after one year, and permanently stored on the Ethereum ledger.

Institutions Continue to Increase Bitcoin Holdings

The UK-listed company Cel AI has raised £10 million to purchase Bitcoin and has initiated a Bitcoin reserve strategy. This strategy is pending approval by the shareholders' meeting.

The crypto investment company Metaplanet has increased its holdings by another 1005 bitcoins, bringing the total holdings to 13350 bitcoins.

Spanish coffee chain Vanadi Coffee has increased its holdings to 20 bitcoins, now owning a total of 54 bitcoins. The company plans to invest up to 1 billion euros to purchase bitcoins, aiming to become the largest listed bitcoin company in Spain.

Digital asset investment products continue to attract funds

A CoinShares report shows that last week, digital asset investment products saw a net inflow of $2.7 billion, marking the 11th consecutive week of inflows. The majority of the funds, amounting to $2.65 billion, came from the United States. Bitcoin accounted for 83% of the total inflow, attracting $2.2 billion.

Ethereum saw an additional inflow of $429 million last week, bringing the total inflow to $2.9 billion year-to-date. In comparison, Solana's inflow year-to-date is only $91 million.

These data reflect the market's optimistic sentiment towards mainstream digital assets, especially Bitcoin and Ethereum.