Digital Asset Spot Trading Volumes Rise for the Fourth Consecutive Month
In January, digital asset spot trading volumes on centralized exchanges increased by 4.45% to $1.4 trillion, marking the fourth consecutive monthly increase, according to a market report from on-chain analytics firm CCData. This trend has not been seen since May 2019. Binance maintained its position as the largest spot trading exchange, with volumes rising 2.73% to $437 billion and a market share of 31.3%. The second-largest spot exchange, OKX, saw its trading volumes fall 5.22% to $99.1 billion, resulting in a drop in market share from 7.81% to 7.09%. Coinbase recorded a rise in its market share for the third consecutive month to 5.42%.
Paxos Adopts Chainlink’s PayPal USD Price Feed
Paxos has partnered with Chainlink to accelerate the adoption of PayPal USD (PYUSD). Chainlink now supports a PYUSD Chainlink Price Feed on the Ethereum mainnet, providing accurate and decentralized market data for PYUSD on the blockchain. This enables users to create secure markets around PYUSD and adopt it as their preferred stablecoin for on-chain payments. The collaboration between Chainlink and Paxos aims to advance the use of tokenized real-world assets (RWAs) and scale on-chain finance globally.
The Hashgraph Association and Ministry of Investment of Saudi Arabia Launch $250M Deeptech Venture Studio
The Hashgraph Association has announced a strategic partnership with the Ministry of Investment of Saudi Arabia (MISA) to launch a $250 million DeepTech Venture Studio in Riyadh over five years. The studio will support local Saudi companies and international portfolio companies in developing innovative solutions using deep tech such as AI, DLT, Robotics, IoT, VR, and Quantum Computing. The program aims to onboard over 500 companies and will receive support from the Ministry in terms of licenses, regulations, connections with government stakeholders, strategic partners, and investors.
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