Crypto Weekly Recap: Grab Incorporates Web3, Wallet, And Other Features

Crypto Weekly Recap: Grab Incorporates Web3, Wallet, And Other Features


Grab Integrates Web 3.0 Services

Grab, known as the “Uber of Southeast Asia,” has announced the integration of Web 3.0 services into its platform. This integration brings plenty of new features to Grab users, including the  probable to gain  blockchain rewards, make payments using NFTs, and establish their own Web 3.0 wallet. Grab’s move reflects the growing popularity and adoption of blockchain technology and digital currencies in the region. This integration opens up new doors for Grab users to participate with the cryptocurrency ecological system and explore the advantages of decentralized finance (DeFi) and other Web 3.0 applications.

Bitcoin (BTC) Update

In an interesting development, Bitcoin (BTC) worth £165 Million, which was previously mined, has been realized  in a council tip. The owner’s legal team has requested access to the site to search for the lost Bitcoin (BTC) hard drive. This case outlines the importance of securely storing digital currency assets and the  capacity for whole lot of value locked away in forgotten or misplaced wallets. In addition, former SEC chairman Jay Clayton has expressed his belief that there will be no further rejections of current Bitcoin (BTC) Spot ETF submissions, indicating a probable positive outlook for Bitcoin (BTC) ETFs in the future.

Ethereum (ETH) News

In the world of Ethereum (ETH), Cathie Wood’s Ark Invest and asset manager 21Shares have made a whole lot of move by applying for the first spot Ethereum (ETH) ETF in the United States. This move demonstrates growing interest in Ethereum (ETH) and the desire to provide investors with regulated exposure to the digital currency. Furthermore, Ethereum (ETH) co- founder Vitalik Buterin has generated speculation by selling all his MakerDAO (MKR) tokens. The motivation behind this move remains unclear, leaving the cryptocurrency community questioning Buterin’s intentions.

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DeFi Updates

Compound, a cryptocurrency lending firm, has announced the launch of its borrowing and lending protocol on Base, Coinbase’s Layer 2 solution. This integration expands the accessibility and efficiency of DeFi lending for Coinbase users. In addition, a consortium of leading DeFi corporations has formed the Tokenized Asset Coalition (TAC) with the goal of driving the standardization and adoption of asset tokenization. This initiative intends to unlock new possibilities in the tokenization of real-world assets on the blockchain.

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Altcoin Highlights

Solana (SOL) a Layer One blockchain, has experienced a decline in momentum, with daily active addresses dropping to around 204,000. This decrease raises questions about the future trajectory of Solana (SOL) and its capacity to compete with other blockchain platforms. In addition, Elon Musk (Tesla & SpaceX CEO) has expressed interest in developing a social media platform based on blockchain technology and has been closely associated with the digital currency Dogecoin.

Technology and Business Updates

A research paper co-authored by Ethereum (ETH) founder Vitalik Buterin explores the challenges of ensuring privacy in blockchain transactions while complying with regulations. This research outlines the ongoing efforts to strike a balance between privacy and regulatory requirements in the blockchain space. In the business world, Grab has integrated Web 3.0 services into its platform, marking a whole lot of step in the adoption of blockchain technology in Southeast Asia. Furthermore, internal conflicts have arisen within Gala Games, with co-founders filing dueling lawsuits against each other. These legal disputes underscore the challenges faced by blockchain gaming platforms.

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Regulatory Developments

The G20 leaders are advocating for the rapid implementation of an international framework for cryptocurrency assets. This call for regulation reflects the growing understanding of the importance and impact of digital currencies on the worldwide economy. In addition, South Korea is strengthening sanctions against North Korea by introducing a revised bill targeting illicit cryptocurrency activities. These regulatory measures intend to curb the  capacity misuse of digital currencies for illicit purposes.

Web 3.0 and Security

ConsenSys, a blockchain technology company, is preparing to introduce a decentralized version of Infura, a blockchain data provider. This move has the  capacity to reshape the way Web 3.0 applications access blockchain data, enhancing decentralization and security. Furthermore, Stake, a trending cryptocurrency betting platform, has dropped victim to a major exploit, resulting in the loss of over $40 Million. This incident serves as a reminder of the importance of robust security measures in the cryptocurrency industry.

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Hot Take

The integration of Web 3.0 services by Grab reflects the growing adoption of blockchain technology and digital currencies in Southeast Asia. This move opens up new doors for Grab users, allowing them to participate with blockchain rewards, NFT payments, and Web 3.0 wallets. As the cryptocurrency industry continues  to evolve and innovate, we can expect to see more corporations embracing Web 3.0 and offering enhanced crypto-related features to their users. This integration by Grab is just one example of how blockchain technology is transforming numerous industries and creating new possibilities for individuals to join the cryptocurrency ecosystem.

Author – Contributor at | Website

Cyrus Dailey stands as a luminary gracefully weaving the roles of crypto analyst, tenacious researcher, and editorial artisan into a captivating narrative of insight. Amidst the intricate world of digital currencies, Cyrus’s perspectives resonate like finely tuned melodies, captivating curious minds from a myriad of perspectives. Her ability to decipher complex threads of crypto intricacies melds seamlessly with her editorial finesse, transforming intricacy into a harmonious composition of understanding.

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