Golden Morning Post | The total market value of cryptocurrencies has risen by 5.7% in the past 24 hours

Headline

▌ **The total market value of cryptocurrencies has risen 5.7% in the past 24 hours, and the market share of Bitcoin has risen to **47.9%

News on June 22, according to CoinGecko data, the current total market value of cryptocurrencies on the entire network is 1.22 trillion U.S. dollars, up 5.7% in the past 24 hours. In addition, the market value of Bitcoin is 5.86 trillion U.S. dollars, and its market share has risen to 47.9%. The market share continues to hit a new high after May 2021. Ethereum’s market share dropped to 18.8%.

▌TrueUSD****: All user funds in TUSD are still safe, not affected by Prime Trust suspension of deposits

On June 23, the US dollar stablecoin TrueUSD officially posted on social media that Prime Trust has suspended all fiat currency and digital asset deposits. TUSD is not affected by this situation. TrueUSD has no exposure to Prime Trust and maintains multiple conduits for minting and redeeming USD. Please rest assured that all user funds in TUSD are safe. We remain committed to taking proactive steps to protect our users' funds and maintain our role as a trusted and reliable partner in the crypto space.

Quotes

As of press time, according to coinmarketcap data:

The latest transaction price of BTC is 30001.7 US dollars, with an intraday increase and decrease of +0.40%;

The latest transaction price of ETH is 1877.65 US dollars, with an intraday change of +0.13%;

The latest transaction price of BNB is 241.79 US dollars, with an intraday change of -3.24%;

The latest transaction price of XRP is $0.49547, with an intraday change of -0.35%;

The latest transaction price of DOGE is US$0.065785, with an intraday increase and decrease of +0.72%;

The latest transaction price of ADA is US$0.2913, with an intraday increase and decrease of +2.40%;

SOL's recent transaction price was US$16.7, with an intraday change of -1.76%.

policy

▌The Korean virtual asset industry is preparing behind the scenes for institutional market entry

Jinse Finance reported that the Korean virtual asset industry is making behind-the-scenes preparations for institutional market entry. South Korean authorities currently prohibit financial companies from storing and investing in virtual assets through shadow regulation, but the strategy is to continue when the market opens in the future. Industry insiders revealed on the 22nd that KB Kookmin Bank, Haechi Labs and Hashed have established a joint venture Korea Digital Asset (KODA). Shinhan Bank and NH Nonghyup Bank made strategic investments in KDAC and Cardo, respectively. Consignment business is a service for financial institutions to store and manage customers' financial assets in the traditional financial field. Institutions that handle large amounts of money keep their assets in custody to protect against risks such as theft. When institutions officially enter the virtual asset market, it is expected that consignment work will become an essential service. Cho Jin-seok, director of KODA, said that all companies, including general companies for investment purposes, foundations that have listed or plan to list virtual assets on exchanges, P2E games, or NFTs, can be customers.

Blockchain Application

**▌****Mercedes-Benz is testing allowing customers to connect to encrypted wallets to display their **NFT held in the car

Jinse Finance reported that, according to official sources, in Design No. 5, Mercedes-Benz showed a trial version of a new in-car digital art application. One of the features allows Mercedes-Benz customers to display their digital art in the car by connecting their cryptocurrency wallets. It will be tested in the new Mercedes-Benz E-Class.

**▌**Shanghai released the action plan for the new track of the Cultural Tourism Metaverse, and strives to break through 500 billion in industrial scale in 2025

Jinse Finance reported that it learned from the Shanghai Bureau of Culture and Tourism that the "Shanghai City Action Plan for Building a New Track for Cultural Tourism Metaverse (2023-2025)" has been officially released. By 2025, the brand of "Cultural Tourism Metaverse" in Shanghai will be initially launched, the industrial scale will exceed 50 billion yuan, and 2-3 new content creation industry agglomeration development zones will be formed. Fang Shizhong, secretary of the party group and director of the Shanghai Municipal Bureau of Culture and Tourism, said that with the above-mentioned action plan as a strategic guide, Shanghai will fully open the new track of the cultural tourism metaverse, start the implementation of new infrastructure for digital cultural tourism, new breakthroughs in technological tools, and cultural tourism metaverse. Five special actions including new scenes, new tracks of digital artworks, and immersive and interactive new content.

Cryptocurrency

▌Valkyrie submitted a bitcoin spot ETF application to the US SEC again

Jinse Finance reported that cryptocurrency fund company Valkyrie submitted an S-1 registration form for a Bitcoin spot ETF to the US Securities and Exchange Commission on June 21. In it, the firm said it would seek to list its fund on Nasdaq under the symbol BRRR.

▌****Study: Hong Kong should emulate Singapore and Japan in cryptocurrency space

Jinse Finance reported that a government study conducted by the Hong Kong Legislative Council Research Office indicated that Hong Kong should learn from the experience of countries such as Japan and Singapore in developing and adopting Web3 technology and encryption technology. The study highlights that Hong Kong can learn from the experience of the pioneers in the Web3 field as a policy guide for its own development, and highlights the concern that Hong Kong is lagging behind East Asian and Gulf countries in Web3 development. It singles out Japan’s Web3 national strategy, Singapore’s focus on blockchain use cases, and South Korea’s Metaverse strategy as examples worth considering. The study called for more legal clarity to create an environment conducive to Web3 technologies, including addressing issues related to DAOs and NFTs. It also urges Hong Kong's Legislative Council to catch up with virtual universe-related developments in other countries and explore how to apply virtual universe-like solutions to various industries.

▌Ripple has received approval-in-principle from the Monetary Authority of Singapore for a major payment institution license application

Jinse Finance reported that Ripple has received in-principle approval from the Monetary Authority of Singapore for its application for a major payment institution license. This will see Ripple Markets APAC Pte Ltd (Ripple's business arm in Singapore) offer regulated digital payment token products and services in Singapore. Ripple said in a statement that the approval will also allow Ripple to further expand customers’ use of its crypto-enabled on-demand liquidity service. Ripple CEO Brad Garlinghouse said Singapore continues to lead the world in establishing clear rules of the road to recognize the innovation and real-world utility of digital assets and their benefits to the global financial system.

▌Credit Agricole’s asset services division has been approved to provide cryptocurrency custody services

Jinse Finance reported that Crédit Agricole and CACEIS, the asset service arm of Santander Bank Santander, have registered with French regulators to provide cryptocurrency custody services. CACEIS Bank, which provides services to asset managers such as insurance companies, pension funds and private equity funds, was registered with the French Financial Markets Authority (AMF) on June 20, according to the regulator's website. It joins other traditional financial firms such as Societe Generale’s Forge and AXA Investment Managers in being recognized under the European cryptocurrency regulatory framework as the EU prepares to implement new cryptocurrency licensing rules (MiCA) from 2024.

▌Mastercard focuses “Engage” program on cryptocurrencies

Jinse Finance reported that Mastercard announced the expansion of the Engage program, which connects potential card issuers with partners who can provide the appropriate technical expertise to help bring the cryptocurrency card program to the market, allowing more and more crypto Currency companies are able to leverage the credit card giant's global network for distribution. Mastercard said the expanded network will help bring new crypto card programs to market and create crypto-to-fiat conversion functionality.

Important economic developments

▌The probability of the Federal Reserve raising interest rates by 25 basis points in July is 76.9%

Golden Ten Data, June 23, according to CME "Fed Watch": The probability that the Fed will keep interest rates unchanged at 5.00%-5.25% in July is 23.1%, and the probability of raising interest rates by 25 basis points to the range of 5.25%-5.50% is 76.9%; the probability of maintaining interest rates unchanged by September is 18.7%, the probability of accumulative rate hikes of 25 basis points is 66.7%, and the probability of accumulative rate hikes of 50 basis points is 14.6%. (Golden Ten Data APP)

▌****Nasdaq closed up nearly 1%, Faraday Future fell nearly 6%

U.S. stocks closed, the Dow closed flat, the S&P 500 closed up 0.37%, and the Nasdaq closed up 0.95%. Tesla (TSLA.O) and Google (GOOG.O, GOOGL.O) both rose more than 2%, while Faraday Future (FFIE.O) closed down 5.7%. The Nasdaq China Golden Dragon index edged lower. (Golden Ten Data APP)

Golden Encyclopedia

▌****Homomorphic Encryption

Homomorphic Encryption (Homomorphic Encryption) is a special encryption method that allows the ciphertext to be processed to obtain an encrypted result, that is, the ciphertext is directly processed, and the plaintext is processed and re-encrypted to obtain the same result. From an algebraic point of view, it is homomorphism.

Disclaimer** Disclaimer: As a blockchain information platform, Jinse Finance publishes articles for informational reference only and not as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness. **