Bloomingbit Newsroom

Korea-based virtual asset (cryptocurrency) exchange Korbit announced on the 20th that it has signed a memorandum of understanding (MOU) with international child rights NGO Save the Children to promote a culture of virtual asset donations. The signing ceremony was held on the 16th at the Save the Children Korea headquarters, and Korbit CEO Oh Se-jin and Save the Children President Jeong Tae-young, along with officials from both organizations, attended. Through this agreement, both parties agreed to incorporate the transparency and efficiency of blockchain into the donation culture and to build a sustainable social contribution model through virtual asset donations. The first joint project is the "Korbit·Save the Children: Give a Warm Meal to Children" campaign, which begins today. Korbit members can donate major virtual assets such as Bitcoin (BTC), Ethereum (ETH), XRP (XRP), and Tether (USDT) to a Save the Children-designated wallet address, and the collected assets will be used in full to support meals for children at risk of hunger. Korbit CEO Oh Se-jin said, "As Korea's first exchange, it is meaningful to spread a culture of virtual asset donations together with Save the Children," adding, "Based on the transparency and speed of blockchain, we will create an efficient donation system so that more people can participate in 'good influence'."

Virtual asset (cryptocurrency) exchange Coinone announced on the 20th that it will significantly expand the scope and duration of its existing 'New Customer Fee-Free Event' and run it until April 30 next year. Under this benefit adjustment, new customers can enjoy fee-free benefits for up to six months. Anyone who has had no trading history since January 1, 2025, is eligible. To participate, click the 'Get 0-won trading fee benefit' button on Coinone's website event page and it will be applied automatically. The initial coupon waives fees for 30 days within a transaction amount limit of 300 million won, and during the event period, customers can receive reissued coupons with limits and periods automatically renewed. Coinone is also running an 'October First Trade Event' that offers up to 250,000 won worth of virtual assets to customers who complete their first trade by the 31st. Lee Seong-hyeon, CEO of Coinone, said, "We prepared this benefit to lower the entry barrier for new investors as interest in virtual asset investment grows."

Dunamu, which operates the virtual asset (cryptocurrency) exchange Upbit, said on the 20th that it will participate as an official partner in the 'APEC CEO Summit Korea 2025', which will be held in Gyeongju, North Gyeongsang Province, from the 28th to the 31st. The 'APEC CEO Summit Korea 2025' is a major side event of the Asia-Pacific Economic Cooperation (APEC) leaders' meeting held in Gyeongju. About 1,700 global company CEOs, including Jensen Huang, CEO of NVIDIA, and Matt Garman, CEO of Amazon Web Services (AWS), are expected to attend. Domestic attendees include Chey Tae-won, Chairman of SK Group; Lee Jae-yong, Chairman of Samsung Electronics; Chung Eui-sun, Chairman of Hyundai Motor Company; and Koo Kwang-mo, Chairman of LG Group. Dunamu plans to represent Korea's blockchain industry at the event and present 'The Future of Global Finance Led by Digital Assets.' First, Oh Kyung-seok, CEO of Dunamu, will appear as the keynote speaker of the 'The Future of Currency & Global Financial Market (The future of currency and the global financial market)' session of the 'APEC CEO Summit Korea 2025', held at Hwarang Hall of Gyeongju Arts Center on October 29. Oh will speak about the potential of Korea's digital finance industry and the path Upbit has taken. Furthermore, Dunamu will hold the 'Future Tech Forum: Digital Asset (Future Tech Forum: Digital Asset)' at Wonhwa Hall of Gyeongju Arts Center on October 30. The forum is expected to discuss various agendas such as blockchain and artificial intelligence (AI), financial innovation, regulation, and inclusion under the theme 'Global Economy Connected by Digital Assets.' The forum is expected to be attended by Michael J. Casey, Senior Advisor to the Digital Currency Initiative at the MIT Media Lab; Marco Dal Lago, Vice President at Tether (USDT); Lu In, Head of Asia-Pacific at the Solana Foundation; and Isabel Chatterton, Head at the Asian Development Bank (ADB), among others. In addition, Dunamu will operate an Upbit exhibition booth at the outdoor event venue of the Gyeongju Arts Center from the 29th to the 31st, introducing its Web3 infrastructure strategy and digital finance vision. Oh said, "It is an honor to present the vision of digital finance on the world stage of the APEC CEO Summit representing the Republic of Korea," and added, "We will take the lead in creating a trust-based digital asset ecosystem."

MegaETH announced on the 17th that it deployed the industry's first real-time on-chain Data Streams Oracle to its blockchain together with Chainlink. MegaETH is an Ethereum (ETH) Layer 2 blockchain aiming for a real-time blockchain with performance of 100,000 TPS and 10 ms latency. The collaboration is carried out as the world's first protocol-level system that delivers Chainlink's market data directly to the MegaETH blockchain at millisecond-level ultra-low latency. Specifically, Chainlink data streams are integrated into the MegaETH execution environment as a native precompile, allowing all smart contracts to access high-frequency market data on-chain in real time. The aim is to enable DeFi applications such as futures, prediction markets, and stablecoins (virtual assets pegged to fiat currency) to achieve responsiveness and accuracy at centralized exchange levels. The company described the integration as "a new oracle model that combines the simplicity of on-chain oracles with the immediacy of streaming data." Key features include an ultra-low-latency structure where data is updated immediately upon smart contract calls, precompile accessibility that reads market data directly without off-chain logic, and a data catalog covering cryptoassets (cryptocurrencies)·stocks·commodities·real-world assets (RWA). In the initial phase of the collaboration, MegaETH will focus on on-chain price discovery through high-frequency cryptoasset data supply. Based on this, it plans to lay the groundwork for building real-time settlement, funding, and derivatives market infrastructure for DeFi applications at the level of centralized trading infrastructure. Lei Yang, MegaETH co-founder and Chief Technology Officer (CTO), said, "By integrating Chainlink data streams at the protocol level, developers can access efficient, low-latency market data on-chain," adding, "We expect this will make MegaETH a core infrastructure for next-generation real-time DeFi applications."

Wang Wentao, China's Minister of Commerce, pointed out that the cause of the recently escalating U.S.-China trade conflict "lies in the U.S.'s restrictive measures against China." On the 16th (local time), according to a report by Walter Bloomberg, Minister Wang made these remarks and emphasized the need to resume dialogue, saying "he hopes the two countries will seek ways to resolve the problem through cooperation." Meanwhile, it was reported that on that day Minister Wang had a meeting with Apple's Tim Cook( Tim Cook ) Chief Executive Officer(CEO).

BloomingBit, the virtual asset (cryptocurrency) affiliate of Hankyung Media Group, the country's largest economic media with 14 million digital subscribers, announced on the 15th that it has signed a strategic partnership with Surf, an AI analytics platform specialized in cryptocurrencies. Surf is a crypto-specialized AI that converts complex blockchain data into investment information that the general public can easily understand. It aims to provide a service that combines the cryptocurrency version of Bloomberg (a real-time financial data provider) and ChatGPT (a conversational AI). By using Surf, investment information that previously had to be checked individually through news, exchanges, and analysis platforms can be obtained through a natural conversation with the AI. With this partnership, BloomingBit will be able to produce content more efficiently using Surf. Surf plans to leverage the partnership to expand its presence in the business-to-business (B2B) market and aim to become a leader in the cryptocurrency AI tool sector. Kim Sanha, CEO of Hankyung BloomingBit, said, "This collaboration is a new attempt to enhance the credibility and efficiency of BloomingBit's content," adding, "We will take the lead in expanding the global crypto content ecosystem together with Surf." Ryan Lee, co-founder of Surf, said, "Cryptocurrency researchers are having difficulty writing articles or reports due to overly dispersed information," adding, "(Surf) has proven that a crypto-specialized AI can help industry researchers and reclaim the most valuable resource: time."

Global virtual assets (cryptocurrencies) platform Crypto.com said on the 15th that it has been selected as the official crypto payments partner (Official Crypto Payments Partner) for the APEC CEO Summit (APEC CEO Summit Korea 2025), scheduled to be held in Gyeongju, Gyeongsangbuk-do, South Korea from October 28 to 31. The APEC CEO Summit, a major side event of the Asia-Pacific Economic Cooperation (APEC) leaders' meeting, is the largest annual business forum in the Asia-Pacific region. This year's event will bring together CEOs of global companies, academics, experts and business leaders from around the world to discuss key trends shaping the future of the global economy, such as artificial intelligence (AI) and digital innovation. As the official crypto payments partner, Crypto.com will support APEC CEO Summit ticket payments through Crypto.com Pay. It plans to provide participants with a convenient and secure crypto payment experience and to lay the groundwork for expanding the practical use of digital assets. A Crypto.com representative said, "This partnership is significant in that it is the first case of the APEC CEO Summit collaborating with a crypto payments platform," adding, "It is an important milestone that demonstrates Crypto.com's strong commitment to building South Korea as an Asia digital asset hub."

1. Market Overview Last week, Upbit added Doodles and Infinit, and Bithumb listed Anoma and Aster, continuing a new listing parade. On Upbit, XRP ($3.09 billion), BTC ($2.89 billion), and ETH ($2.75 billion) accounted for the bulk of trading volume, maintaining a clear lead in market activity. Also among the top ranks were USDT ($2.2 billion) and SOL ($1.33 billion), while DOGE, IN, and XPL recorded trading volumes ranging from $516 million to $1.22 billion. Despite reduced volume due to the Chuseok holiday, activity was broadly distributed across large-cap and mid-cap assets such as DOOD, MNT, ZKC, and ADA, indicating steady retail participation. On Bithumb, USDT ($2.01 billion) led volumes, followed by BTC ($965 million), XRP ($880 million), and ETH ($871 million). SOL, DOGE, and WLD showed moderate volumes, while tokens like SOON, ENA, PENGU, and SUI exhibited small but steady flows. Both exchanges experienced simultaneous spikes on the weekend of October 12, with Upbit outperforming Bithumb by a wide margin. Overall, liquidity at major exchanges remained at healthy levels, and investors favored stability-linked tokens and mid-cap assets. This suggests cautious yet active participation as markets resumed after the holiday break. 2. Exchanges 2-1. Newly Listed Coins Last week, major Korean exchanges announced several new listings. Upbit listed Doodles and Infinit Bithumb listed Anoma and Aster Key Marketing Strategies and Highlights Aster (ASTER) Aster's marketing approach differed from other perpetual futures DEXs. Although it did not emerge during the heyday of the "puff DEX meta," it attracted significant demand in Korea. The core driver of this growth was likely the way it was introduced through KOL channels—positioned as a "BNB deficit" project on the BNB Chain. This indirectly (almost explicitly) suggested a high likelihood of a Binance spot listing. Another element that appealed to Korean users was Aster's separation of trading points (Rh) and staking points (Au). The Korean community generally dislikes point dilution during airdrop farming, and this structure effectively addressed that concern. Additionally, following the existing "BNB deficit" principle, Aster provided Binance hodler airdrop rewards to users who staked BNB. By leveraging this setup, Aster turned staking—whose demand might have been low due to relatively lower airdrop yields compared to trading—into an attractive opportunity. The Aster team actively propagated this narrative through KOL-centered, extensive marketing across the Korean crypto community. 2-2. Trading Volume Upbit maintained a strong lead in last week's trading volumes. XRP ranked first with $3.09 billion, followed by BTC with $2.89 billion and ETH with $2.75 billion. USDT and SOL also recorded $2.2 billion and $1.33 billion respectively, demonstrating stable liquidity for major assets. DOGE, IN, and XPL recorded volumes ranging from $516 million to $1.22 billion, while smaller tokens like DOOD, MNT, ZKC, and ADA each recorded over $270 million, showing a diversified trading environment within Upbit. Bithumb's volume was led by USDT at $2.01 billion, with BTC at $965 million and XRP at $880 million. ETH and SOL held notable positions at $871 million and $517 million respectively, and DOGE, WLD, SOON, and ADA recorded moderate volumes between $83 million and $467 million. ENA, PENGU, and SUI each recorded under $85 million, indicating more conservative participation in altcoins compared to Upbit. Daily volume trends at both exchanges were synchronized and surged, with a significant spike observed on the weekend of October 12. Upbit consistently outpaced Bithumb in total volume, suggesting active retail participation and increasing liquidity flows. Overall, trading momentum in major assets remained solid, with XRP, BTC, and ETH still dominant on both platforms, while mid-cap tokens continued to make steady contributions to overall market volume. 2-3. Top 10 Gainers Last week, the Upbit market showed a modest upward trend led by BAT (25.12%), followed by UXLINK (8.20%) and USDC (6.46%). Stablecoins such as USD1 and USDT both rose 6.39%, reflecting continued demand for on-chain liquidity. SUN, PROVE, and ZKC also showed positive momentum with gains between 3.77% and 6.16%, while PUNDIX and API3 recorded limited increases under 2%, indicating selective buying interest in utility and DeFi-related assets. Bithumb experienced greater market volatility. SNX surged 58.26%, and BAT rose 28.02%, closely following. TAO and SOON posted weekly gains of 24.74% and 17.40% respectively, while H and MORPHO rose 16.49% and 11.49%. Mid-to-low cap tokens such as PROVE, LISTA, PAXG, and USD1 saw modest but steady gains between 5.95% and 10.56%, reflecting speculative activity around new and existing listings. Overall, Bithumb showed short-term rallies especially in DeFi- and AI-linked tokens, while Upbit displayed steady gains concentrated in stablecoins and utility assets. This contrast highlights differences in investor preferences: Bithumb traders tend to favor higher-volatility assets, whereas Upbit investors gravitate toward more stable and liquid assets. 3. Korean Community Buzz 3-1. A Week-Long Holiday Last week was one of Korea's longest holiday stretches. With National Foundation Day (October 3), Chuseok (October 5–8), and Hangul Day (October 9) overlapping, the entire week was mostly off. Trading and community activity were relatively quiet, though several listings still took place. During the holiday, Bitcoin reached an all-time high, which helped restore overall investor sentiment, and Korean crypto users enjoyed a pleasant holiday. 3-2. Trump's Tariff Shock and the Korean Market's Reaction On October 10, former U.S. President Donald Trump announced an additional 100% tariff on Chinese goods, triggering the largest cryptocurrency liquidation event in history. Total damage amounted to $19 billion. The news broke around 6 AM on Saturday (Korean time), startling many Korean investors. Some KOLs reportedly woke up after receiving warnings and called peers to alert them. Tether's price spiked to KRW 1,653 on Upbit and KRW 5,400 on Bithumb, and urgent live streams and analysis videos flooded YouTube and Telegram over the weekend. With the won weakening and premiums exceeding 5% through October 13, users debated whether this was a "buy-the-dip" opportunity or a warning sign of deeper structural risks. 3-3. Capital Outflows and Regulatory Pressure According to the Financial Supervisory Service, crypto assets worth 101 trillion won (about $73 billion) flowed overseas in the first half of 2025. Experts say that limited access to derivatives and margin trading in Korea is driving investors to foreign exchanges. This figure has steadily increased from 29.7 trillion won in early 2023 to 101.6 trillion won in mid-2025, reflecting an acceleration of capital outflows. Industry insiders argue that restrictive regulations are weakening domestic competitiveness. One analyst noted, "The U.S., EU, and Japan have institutional frameworks that support corporate crypto trading, whereas Korea remains isolated, further entrenching its status as a 'crypto Galapagos.'" All content is provided for informational purposes only and is not the basis for any investment decision nor investment advice or recommendation. We take no responsibility for any investment, legal, tax, or other outcomes arising from the use of this content. INF Crypto Lab (INFCL) is a consulting firm specialized in blockchain and Web3, offering one-stop services such as corporate Web3 strategy formulation, token economy design, and global market entry. We provide strategy development and execution services to major domestic and international securities firms, game companies, platforms, and global Web3 companies, leveraging accumulated know-how and references to lead the sustainable growth of the digital asset ecosystem. This report is independent of media editorial direction, and all responsibility rests with the information providers.

Virtual asset (cryptocurrency) exchange Bithumb announced on the 13th that it will run a promotion for new members through a partnership with simple payment platform NHN PAYCO. This promotion runs until December 31. The promotion applies to all new Bithumb members. Participants will receive benefits worth up to 100,000 won, including Bithumb points and PAYCO points. Specifically, customers who sign up on Bithumb for the first time during the event period can receive up to 90,000 won in benefits: Bithumb points 50,000 won, Bithumb investment support fund 20,000 won, PAYCO points 20,000 won, etc. Additionally, an extra 10,000 won can be provided through a PAYCO social media (SNS) event. A Bithumb official said, "We prepared this partnership promotion so that new customers who are starting virtual asset trading for the first time can feel tangible benefits," adding, "We will continue to provide differentiated customer experiences through various promotions."

U.S. President Donald Trump said on the 12th (local time) on his social media platform 'Truth Social' that "there is no need to worry about China," and that "the highly respected Chairman Xi Jinping has only gone through a brief bad moment." Trump said, "Chairman Xi does not want China to fall into a depression (Depression), and neither do I," and emphasized, "the United States is not trying to harm China but wants to help."

U.S. Vice President J.D. Vance said in an interview with Fox News on the 12th (local time) that "President Trump is prepared to enter into reasonable negotiations over issues with China." Vance said, "I discussed China-related issues with President Trump yesterday," adding that "President Trump values his friendly relationship with Chinese President Xi Jinping." He went on to say, "President Trump hopes for a situation in which the United States does not need to use pressure measures against China," and "He is keeping all options open, including the removal of Chinese companies from the U.S. market." Vance also said, "If China responds negatively, President Trump has a range of response options," and "China's response will become apparent within the next few weeks."

Domestic virtual asset (cryptocurrency) exchange Bithumb said on the 10th that it is running a 'Double Benefit Event' for new members with KB Kookmin Bank until the 28th. This event was organized as part of a partnership promotion to provide a new customer experience connecting virtual assets and traditional financial institutions. During the event period, customers who sign up for Bithumb for the first time can receive a total benefit of KRW 70,000. If they check the coupon code on the KB Star Banking event page and register it in the Bithumb app, they will receive KRW 50,000, and if they complete the customer verification (KYC) procedure, an additional 'Bithumb investment support fund' of KRW 20,000 will be provided. A prize event for customers newly signing up for KB Star Banking has also been prepared. Customers who first sign up for KB Star Banking during the event period and link a KB Kookmin Bank account on Bithumb will be entered into a draw in which 100 people will receive chicken, and all other participating customers will receive a coffee coupon. Winners will be announced by November 5, and prizes will be distributed by November 12. This event can be participated in once per Bithumb account, and the provided Korean won can be used in the Bithumb KRW market until November 27. Also, the 'Bithumb investment support fund' must be used within 30 days from the date of issuance. A Bithumb representative said, "This event is the first joint promotion prepared by Bithumb and KB Kookmin Bank, and it aims to provide customers with a broader investment experience," adding, "We plan to continue various collaborations with KB Kookmin Bank to enhance customer convenience and benefits."

Ranger Finance, a virtual asset (cryptocurrency) trading platform, said on the 8th (local time) that it will leap forward based on an 'Execution Bridge' that connects the decentralized perpetual futures market into one. Amid fierce liquidity competition between Layer 1 (L1) and Layer 2 (L2), Ranger is drawing attention as a new trading infrastructure that integrates multiple exchanges to support optimal order execution. Throughout 2024, as Arbitrum, Base, and Optimism rapidly exchanged total value locked (TVL) leadership, Hyperliquid's trading volume increased more than tenfold and dYdX's share plunged from about 25% to 7%. In a market where liquidity is fragmented, Ranger is positioning itself as an aggregation layer that gathers orders from multiple exchanges to enable efficient trading. Ranger Finance is currently integrated with major exchanges such as Drift, Jupiter, Flash, and Hyperliquid, and support for Pacifica and Bulk will be added in the future. Users can leverage liquidity from multiple platforms through a single wallet and interface. At the core of Ranger is the Smart Order Router (SOR) technology. The smart order router compares quotes from multiple exchanges in real time and automatically splits orders; for example, if 70% is more favorable on Drift and 30% on Jupiter, the system automatically splits the order to minimize slippage and fees. In addition to perpetual futures, Ranger has expanded spot trading aggregation on Solana by integrating with key liquidity sources such as Jupiter, Kamino, and OKX. In January this year, Ranger Finance attracted investment from major investors including RockawayX, Big Brain, Flow Traders, and Zee Prime, as well as industry figures such as Joe McCann and Arthur Cheong, drawing industry attention.

1. A business needs verified users to succeed Verified users who use services and create value across various digital businesses such as games, shopping, and content are a core asset that determines corporate performance. Having a large number of sign-ups alone does not mean business success; growth occurs only when these users translate into actual revenue and traffic. This importance is supported by data. According to a paper analyzing mobile game play data across 214 countries and regions, 44.83% of total playtime comes from the top 1% of players. Revenue shows a similar pattern: according to SuperData, in the mobile game market the top 1% of users account for more than half of total revenue, and the top 5–10% of paying users are responsible for 80–90% of total revenue. This phenomenon is not limited to the game industry. In e-commerce, streaming platforms, casinos, and other fields, a small number of verified users commonly generate most of the total revenue. This pattern is called the Pareto Principle and explains the skewed distribution where most outcomes come from a small number of causes. Often described as the 20:80 rule, it can be concretized as the top 20% of customers generating 80% of total revenue. Companies have long applied this principle to customer analysis and marketing strategy and still use it today as a traditional but effective method to define and focus on core customer segments. It is obvious that businesses need to secure verified users to succeed. However, because user data is mostly monopolized by specific centralized companies, it is not easy for companies to identify and reach verified users. For example, game usage data is held by game developers and publishers, consumer data is held by shopping platforms, and external companies must overcome the huge barriers of these platforms to access verified users. This deepens asymmetry in data access rights and results in companies having to spend excessive user acquisition costs (User Acquisition Cost, UAC) to secure verified users. The reason the importance of verified users and the difficulty of securing them were emphasized at the beginning of this article is that KGeN has emerged to solve precisely this structural problem. KGeN aims to build an infrastructure on the blockchain that can manage user data—previously monopolized by centralized platforms—in a verifiable and transparent way. Through this, KGeN seeks to lower the connection barrier between companies and verified users and to ensure that users have sovereignty over the data they generate. 2. KGeN, a publisher platform for acquiring verified users KGeN is a project building an infrastructure to acquire verified users, currently focusing on the game and AI sectors. KGeN’s co-founders Manish Agarwal and Ishank Gupta are respectively the former CEO of one of India’s largest gaming companies, Nazara Technologies, and a strategy professional with experience in global consulting and the consumer goods industry; they founded KGeN based on deep understanding of data and the gaming industry. KGeN initially targeted a game-specific publisher platform at launch, but recognizing the need and importance of verified users across the Web3 market, it is expanding its business direction into various sectors. Based on strong founder backgrounds and vision, KGeN has raised about $43.5 million in cumulative investments from global VCs such as Accel, Prosus Ventures, and Jump Crypto, as well as strategic partners like Aptos Labs and Polygon, and in a recent round it was valued at approximately $500 million. 2-1. Analyzing verified users through its own oracle network and PoG engine KGeN provides a platform where users can be active across various applications. Currently supporting services focused on games and AI, users can experience multiple projects and leave activity data through participatory campaigns called K-Quest and K-Drop within the platform. Both K-Quest and K-Drop are participatory quest campaigns, but they differ in verification methods. K-Quest is based on manual verification, while K-Drop automatically verifies activities through API endpoints and real-time integration. The collected activity data is analyzed by KGeN’s core mechanism, the PoG (Proof of Gamer) engine. The PoG engine goes beyond simple participation logs to analyze and quantify users’ behaviors and characteristics multidimensionally. The engine classifies data across five axes: first, Proof of Human to verify actual human users; second, Proof of Play to measure game play and engagement; third, Proof of Skill to evaluate proficiency based on tournament performance and in-game achievements; fourth, Proof of Commerce to reflect economic contribution; and finally, Proof of Social Network to measure social networks and influence. These five axes operate independently while complementing each other to produce a reputation metric called the PoG Score for each user. The PoG Score is calculated by KGeN’s oracle network (KGeN Oracle Network) and, after verification, recorded on the blockchain network (Aptos). Specifically, each oracle collects data from various sources such as game activity logs, APIs, and internal metrics, and calculates the PoG Score based on this. The calculated scores are finalized and recorded on the blockchain network through a BFT (Byzantine Fault Tolerant) consensus mechanism. At least 67% of the entire oracle set must submit scores for consensus to be reached, and the network finalizes the PoG Score by taking the median or weighted average of the submitted values. Nodes that submit incorrect results or have signing errors are excluded from consensus and, in severe cases, receive slashing penalties on staked assets. Currently, the KGeN Oracle Network operates on a PoA (Proof of Authority) basis, where KGeN selects trusted operators and grants node permissions. PoA is a transitional device to secure stability and security in the network’s early stages, and it is planned to transition to PoS (Proof of Stake) in the future so that anyone can participate in the oracle network by staking tokens. PoG Scores recorded on the blockchain can be utilized by various ecosystem actors. DApps can design user-tailored rewards or compensation structures based on them and execute efficient user acquisition strategies to lower acquisition costs. Furthermore, Layer 1 chains can integrate PoG Scores into functions such as identity verification or reputation-based governance. 2-2. Tokenomics and incentive structures to accelerate user inflow Today, it is increasingly difficult for new publisher platforms to acquire users. A few large companies already hold a substantial share of the market, and they have built strong network effects based on vast user data and financial resources accumulated over many years. According to udonis’ 2024 data, among 46 game publishers, the top 10 publishers account for 78% of total revenue. In such a structure, new platforms must provide huge marketing costs and incentives to acquire users, but it is practically difficult to do this sustainably. KGeN seeks to overcome these limitations through token incentive structures. Instead of centralized companies monopolizing data, KGeN returns data ownership to users and designs a structure in which users and the platform grow together through a transparent reward mechanism. Specifically, KGeN accelerates user acquisition through the following three incentive structures: 1. Data-based rewards Users own their activity data and directly share in the revenue generated when that data is traded with advertisers or publishers. Through this, users can be rewarded as participants in the data economy rather than mere participants. See section 3-1 for related details. 2. Participation and performance rewards Applications and advertisers grant various benefits such as grants, reward multipliers, and airdrops to users with high PoG scores to secure verified users. Through this, applications can acquire verified users more efficiently, and users can earn more rewards the more they participate and are active. 3. Token incentives KGeN provides direct incentives to users through two token structures: rKGEN and $KGEN. rKGEN is an initial reward token fairly distributed based on platform activity before TGE. rKGEN can be converted 1:1 to $KGEN after TGE and can also earn additional returns through staking. This functions as a powerful incentive device to promote user participation in the early stage. While rKGEN is a short-term incentive for initial network bootstrapping, $KGEN aims to provide a long-term reward structure to users. Users can stake $KGEN to expand quest participation limits or receive reward multipliers, and they can also participate exclusively in certain campaigns or events. Furthermore, by participating in oracle verification through staking, users can generate ongoing revenue, ensuring not only short-term rewards but also stable long-term compensation. Ultimately, rKGEN and $KGEN operate as core incentive mechanisms that span from initial user acquisition to long-term network expansion. 2-3. KGeN ecosystem already has many verified users KGeN has driven rapid mainstream adoption by producing meaningful growth indicators within two and a half years of launch. According to data from Dune Analyst(@kgen), as of October 2, the cumulative number of wallets that have interacted with KGeN at least once exceeded 29 million. Also, according to DappRadar, the number of active wallets in the past 30 days is about 6.8 million, ranking third among all blockchain dApps. Transaction activity is also rapidly expanding. The cumulative number of transactions on the KGeN network over the past year is about 153 million, and there were 4.3 million transactions in the most recent month, showing steady on-chain activity. These figures indicate that KGeN has secured a large base of real users participating in the network, not just sign-ups, demonstrating that KGeN is already among the top tier in user scale within Web3. Revenue indicators are also growing sharply. As of October 2, according to DeFiLlama, KGeN’s revenue over the past 7 days was $1.8M, ranking 17th among all protocols. Annualized, this amounts to about $62 million. This indicates that revenue generated from actual service usage and transaction activity is accumulating stably, not solely dependent on token incentives. In sum, KGeN has produced clear results through three axes: (1) securing millions of real users, (2) explosively increasing on-chain transactions, and (3) achieving top global revenue scale. This shows that KGeN is not merely blockchain infrastructure but a protocol with a sustainable user network and a real revenue model. 3. Opportunities and potential of KGeN 3-1. KGeN guarantees data sovereignty and innovates value capture structures One of the biggest problems of the current Web2 digital ecosystem is the monopolistic structure of data. Centralized companies or publisher platforms store vast amounts of user-generated data on their centralized servers and exclusively utilize it to create added value. Data such as when users connect, which services they mainly use, and how much they consume is held by companies, while users are not granted data sovereignty. This structure causes several problems. First, an imbalance of benefits. Although users are the ones who create data and traffic, the actual economic rewards concentrate with companies. Users know that the data they generate is used for ad optimization, revenue enhancement, and service improvement, yet they are not recognized with any rights in that process. Second, a lack of transparency in data utilization. Users cannot verify how their data is collected, stored, or used, and companies operate it unilaterally according to internal strategies. KGeN plans to solve these problems by designing a structure that returns data sovereignty to users based on blockchain infrastructure. Specifically, all user data will be stored as encrypted metadata on IPFS, and data access will be controlled via a multisig mechanism between KGeN and the user. If advertisers or publishers request data access, they can view it only with the user’s consent, and the revenue generated in return will be shared between the user and the platform via smart contracts. In addition, KGeN enables users not only to protect their data but also to exercise control over how their data is used. Users can choose which data to disclose externally, whether to record it on-chain or off-chain, and, if necessary, are guaranteed the right to delete data. Ultimately, KGeN proposes a new value capture structure in which the value generated from user data is directly attributed to users, beyond mere data protection. Through this, users secure tangible rights and economic rewards for their data and obtain much greater utility than before. This can be seen as an innovative shift that reverses the structure where a few centralized companies monopolized most of the value and returns that value to users. This structural shift is a key driving force that allows the KGeN ecosystem to rapidly acquire many users and record steady revenue performance. 3-2. The key to Web3 mass adoption is ultimately users, and KGeN is expected to be the core infrastructure for user acquisition For Web3 to become mainstream, users are ultimately necessary. Looking back at the IT industry development cycle, infrastructure was always built first, and applications emerged on top of it, leading to full-scale growth. This can be seen in cases where infrastructure such as Ethernet, TCP/IP, and Java was established first, and then applications like Amazon, Facebook, and Uber were launched, driving mass adoption. Web3 follows the same path. Various infrastructure layers such as Ethereum, Solana, Sui, and Aptos have already been built, and recently applications like Hyperliquid have appeared, growing the ecosystem. However, for Web3 to take another step forward, more applications are needed, and the success of these applications will depend on how effectively they can secure and retain verified users. This is precisely where KGeN’s opportunity and potential become clear. By transparently managing user data on the blockchain and providing infrastructure to secure verified users, KGeN lays the foundation for the stable growth of the entire Web3 ecosystem. Using KGeN’s infrastructure, applications can easily identify verified users and execute more efficient user acquisition strategies. Furthermore, from the user’s perspective, a new world opens where they are guaranteed sovereignty over the data they generate and can directly capture additional value from that data. Ultimately, for Web3 to leap forward, application success is necessary, and for applications to succeed, acquiring verified users is key. KGeN has significant potential to establish itself at the center of this and become core infrastructure driving Web3 growth. 4. Conclusion - Can KGeN accelerate Web3 mass adoption? As mentioned above, Web3’s leap depends on applications, and a necessary condition for launching killer applications is securing verified users. However, the important question is how to realize this, and this is where KGeN’s opportunity and potential become apparent. By providing transparent data management based on blockchain and a user reputation metric via the PoG engine, KGeN enables applications to access a pool of users they can trust. At the same time, users secure data sovereignty and economic rewards and obtain differentiated utility compared to existing centralized platforms. This briefly explains why attention should be paid to KGeN. What is particularly striking is that KGeN has already proven itself in the market. Metrics such as 29 million cumulative wallets, 6.8 million active wallets in the past 30 days, and annualized revenue of $62 million show that KGeN is not just a vision but a protocol with an actual user network and revenue model. In conclusion, KGeN is building infrastructure that can accelerate Web3 mass adoption, and its innovative significance is clear. It will be important to watch how KGeN expands its ecosystem and what changes it brings to the Web3 market. Disclaimer The content in this article reflects the author’s opinions and was written without undue pressure or interference. The views expressed are those of the author and do not represent the official position or opinion of Crossangle Co., Ltd. This article is distributed for informational purposes. It does not constitute investment advice or solicitation. Unless otherwise stated, decisions and responsibility for investments, investment strategies, or use of other products and services rest with the user, and users should make investment decisions themselves considering investment objectives, personal circumstances, and financial situation. Please consult financial professionals for more details. Past returns or forecasts do not guarantee future returns. This article was written at the request of KGeN. All content of this article was written independently by the author, and Crossangle Co., Ltd. or the client did not influence content or editing. The author may hold virtual assets mentioned in this article. This report is independent of the media’s editorial direction, and all responsibility rests with the information provider.

Three major indices finish five consecutive days of gains Hot semiconductors amid lack of catalysts The three major New York stock market indices closed higher for a fifth consecutive trading day as buying concentrated on semiconductor and artificial intelligence (AI) related stocks. With no factors to push down stock prices, the market continued its upward momentum. On the 2nd (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 46,519.72, up 78.62 points (0.17%) from the previous session. The Standard & Poor's (S&P) 500 index closed at 6715.35, up 4.15 points (0.06%), and the Nasdaq Composite closed at 22,844.05, up 88.89 points (0.39%). All three major stock indices closed at record highs by closing price. The S&P 500 and the Nasdaq also reached intraday record highs. No clear catalysts that could move the market were apparent. On the second day of the shutdown, the release of U.S. government economic indicators was also delayed. The U.S. Department of Labor had been scheduled to release weekly initial jobless claims that day but postponed it. Rather than showing risk-off sentiment because of the shutdown, the market continued the four consecutive trading-day rally that had persisted until the previous day. Market participants view that if the shutdown is short-lived, its impact on the U.S. economy would be limited, so it is not yet time to seek safe-haven assets. Profit-taking dominated in early trading. The Nasdaq opened up 0.57% but quickly saw a flood of sell orders and turned lower intraday. However, there was no factor likely to break the recently established bullish trend. By sector, energy fell more than 1% while materials rose more than 1%. Large tech companies with market capitalizations of over $1 trillion traded mostly flat, while only Tesla plunged more than 5%. Tesla's third-quarter vehicle deliveries rose above expectations, but the stock faced downward pressure due to forecasts of future contraction. West Texas Intermediate (WTI) crude oil prices came under pressure at the $60 level due to pressure from major oil-producing countries to increase output, causing refining companies such as ExxonMobil to see shares fall nearly 1%. The Philadelphia semiconductor index, composed of AI and semiconductor-related stocks, surged 2% for a second consecutive day following the previous day. News that OpenAI is signing large-scale semiconductor supply contracts with Samsung Electronics, SK Hynix, and TSMC bolstered expectations for AI industry infrastructure. Of the 30 stocks composing the Philadelphia index, all but three rose. Eunji Cha, Hankyung.com reporter chachacha@hankyung.com

The decentralized cloud project Acurast has begun building next-generation cloud infrastructure using smartphones. The plan is to use 'Staked Compute' technology to pool hundreds of millions of smartphones worldwide into a single massive cloud resource. On the 1st (local time), Acurast said, "More than 130,000 smartphones are already connected to the Acurast cloud infrastructure network based on Staked Compute, and more than 50,000 community participants are active." To date, more than 400 million transactions have been processed on the testnet, and cryptocurrencies such as Bitcoin, Ethereum, TON, and Polkadot totaling over $200 million are being managed in a secure environment. Acurast founder Alessandro De Carli emphasized, "Smartphones are already powerful devices," adding, "Through Staked Compute, anyone can prove their device's performance, perform real tasks, and receive rewards. A pure protocol-based cloud that does not require massive data centers." Acurast's network highlights TEE-based secure computation, on-chain hardware attestation, and support for JavaScript, TypeScript, and WASM as core technologies. Users can connect devices to the network via the dedicated application 'Acurast Processor,' and developers can view documentation and benchmark metrics and deploy services from the 'Acurast Hub.' Acurast aims to position itself as an alternative to centralized clouds such as Amazon Web Services (AWS), Azure, and Google Cloud. It has raised $5.4 million on CoinList so far, and the 'ACU' token will be used for network fees, staking, and governance. The token generation event (TGE) is scheduled for Q4 this year. Also, users who convert their smartphones into cloud nodes can earn the network reward token 'MIST.' The project links this to a 'cloud level-up' system, combining game elements so participants can unlock boosts, rewards, and secret quests step by step.

Global verification distribution protocol company KGeN announced on the 1st that it raised $13.5 million in a recent strategic investment round. Jump Crypto, Accel and Prosus Ventures participated in this investment round. This brings KGeN's total cumulative funding to $43.5 million. KGeN previously received a $20 million seed investment in 2023 and a $10 million ecosystem investment in 2024. The company said the investment round was carried out in line with global market expansion. KGeN is currently expanding its protocol, commerce and loyalty infrastructure across more than 60 countries worldwide. Total users number 38.9 million, and monthly active users (MAU) and daily active users (DAU) reach 6.14 million and 780,000, respectively. Annualized revenue is $48.3 million. KGeN's core technology is the identity and reputation framework 'POGE'. POGE is an infrastructure that aggregates users' actual engagement and commerce activities and converts them into reliable data. The data aggregated by POGE is used for ▲obtaining precise user information (Verified UA), ▲programmable on-chain royalties, ▲a customized decentralized commerce platform 'K-Store', among other applications. To date, the information aggregated by POGE amounts to 876 million items. Ishank Gupta, KGeN co-founder, said, "KGeN is a transparent protocol designed so partners can directly enjoy benefits," adding, "Using POGE, we help partner companies acquire and retain the right users." Investors also viewed KGeN's growth potential highly. Saurabh Sharma, Jump Crypto's Chief Investment Officer (CIO), said, "KGeN has transformed the distribution process, which has long been a major industry concern, into a system that can transparently record and manage it," and "KGeN's solution will support growth in artificial intelligence (AI) and decentralized finance (DeFi)."

Bithumb said on the 30th that it introduced 'daily market report' content delivered by artificial intelligence (AI) announcer via its official YouTube channel. The content is the first method implemented by a domestic exchange, and the AI announcer concisely delivers a summary of the previous day's major issues in the virtual asset (cryptocurrency) market. It provides information such as prices of major virtual assets like Bitcoin (BTC) and Tether (USDT), price movements by asset, the fear and greed index, popular sectors, and analysis of surging coins. In particular, the analysis of surging coins is structured to go beyond simple data listing and touch on the background of the rise to help discover investment ideas. The content is provided for reference and not for the purpose of soliciting investments, and can be found on YouTube and the Bithumb mobile app banner. A Bithumb official said, "We planned the daily market report as a summarized content that helps actual investment decisions amid the flood of information," and "We will continue to expand customer-centered content in the future."

Undefined Labs and ArcPoint (formerly INFCL) announced on the 30th that they had successfully concluded the 'Korea RWA & Stablecoin Summit 2025', which they jointly hosted on the 25th. About 500 general participants and representatives from more than 100 global projects and financial institutions attended, making the event a success. The summit focused intensively on the current status and prospects of real-world asset tokenization (RWA) and stablecoins. As the two asset classes are gradually emerging as important pillars amid tightened cryptocurrency market regulation, participants discussed the role of stablecoins in the Web3 environment, possibilities for cooperation with traditional finance, revenue strategies, and ways to build infrastructure. Global leading companies such as Mellow Finance, Canton Network, Securitize, Animoca Brands, Crypto.com, Plume, Hashkey Chaini, Huma Finance, Solv Protocol, Redstone, Bluefin, and Status Network participated, and representatives from more than 20 domestic and international financial institutions and Web3 projects were also present. In particular, attention was drawn as World Liberty Finance and the Ethereum Foundation attended. Ash Mogan, Head of Stablecoin & RWA at the Ethereum Foundation, emphasized, "Ethereum has now established itself as a global financial infrastructure beyond a simple developer community, and the collateralization and trading of real-world assets around the world will take place on the Ethereum network." The organizers said, "RWA and stablecoins were perceived to have relatively high entry barriers for Korean users, but through this summit we narrowed the gap between institutions and individual investors and sought possibilities for mass adoption, narrowing the divide. We plan to continuously provide forums connecting the global market and the Korean market going forward."