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• Binance to launch Thai Exchange

• Worldcoin the next token with PEPE hype?

• 2 possible scenarios with Bitcoin

Binance to launch Thai Exchange

Binance Gulf, a subsidiary of Binance, has successfully obtained digital asset operator licenses from the Ministry of Finance of Thailand. This regulatory approval paves the way for the launch of a new cryptocurrency exchange and broker in Thailand.

The highly anticipated crypto exchange is expected to be operational in the fourth quarter of 2023.

Gulf Innova, a subsidiary of Gulf Energy Development PCL, will provide governance and oversight for the joint venture between Binance and Gulf, ensuring compliance with local regulations and industry standards.

Thailand has emerged as a significant crypto hub in Southeast Asia, with a favorable Crypto Readiness Index ranking and a growing adoption of cryptocurrencies.

Although the Thai government has banned cryptocurrencies as a payment method, it allows trading and investment activities in the crypto space.

The entry of Binance into the Thai market further strengthens the country's position as a prominent player in the crypto industry. With its expertise and global presence, Binance aims to provide Thai users with a reliable and secure platform to trade digital assets.

As the launch date approaches, crypto enthusiasts and investors in Thailand can anticipate a new avenue for accessing cryptocurrencies and participating in the growing digital asset ecosystem.

Worldcoin the next token with PEPE hype?

Worldcoin (WDC) has recently secured $115 million in series C funding, defying the bear market conditions. The project, co-founded by Sam Altman, CEO of OpenAI, aims to establish a decentralised identification system using blockchain technology and iris scans.

To address the Sybil problem, Worldcoin utilises a specialised hardware device called "orb" that scans a user's iris to generate a unique identification code.

This innovative approach aims to create a privacy-preserving primitive for the internet, distinguishing between humans and bots effectively.

Despite not being available to users in the United States at present, Worldcoin has gained global traction, with Argentina and Chile leading in user adoption. The project does not speculate on US regulatory matters.

The WDC token associated with Worldcoin is currently being auctioned at $0.04617, experiencing a daily increase of almost 10% and boasting substantial trading volume. This growth has drawn comparisons to the PEPE hype, generating excitement within the crypto community.

The project's series C funding round was led by Blockchain Capital, with prominent participants such as a16z, Andreessen Horowitz, Bain Capital Crypto, and Distributed Global also joining. Spencer Bogart, CFO of Blockchain Capital, initially harboured doubts but changed his perspective after evaluating the contributions of the project's team.

Worldcoin's vision for a global blockchain-based identification system, coupled with its significant funding and partnerships, positions it as an emerging player in the crypto space.

As the project continues to progress, the industry eagerly anticipates the development and impact of Worldcoin.

2 possible scenarios for Bitcoin

Bitcoin's price has entered a consolidation phase, trading within a narrow range after breaking below the 50-day moving average.

This has led to speculation about potential scenarios for the cryptocurrency's future.

One scenario involves a potential rally if the market can overcome the resistance level at $27,500.

Technical analysis suggests that a successful breakthrough could trigger renewed bullish momentum, potentially pushing the price higher.📈

However, on-chain analysis reveals a concerning trend. The Bitcoin miner reserve metric, which tracks the amount of Bitcoin held by miners, has been consistently declining.

This indicates that miners are selling their coins, potentially contributing to downward pressure on the price.📉

Amidst these developments, various news outlets are closely monitoring the situation and discussing potential scenarios for Bitcoin's price.

Market trends, technical indicators, and fundamental factors are being analyzed to provide insights into the cryptocurrency's future trajectory.

Bitcoin's future remains uncertain, and market participants are eagerly watching for any significant breakthroughs or trends that could shape its next moves.

Disclaimer: This is not any kind of financial advise. This newsletter is solely informational; it does not constitute investment advice, a solicitation to buy or sell any securities, or a recommendation regarding how to manage your money. Be cautious and conduct your own study, please.