Doohyun Hwang

More than $600 million in net inflows occurred in a single day for U.S. spot Bitcoin (BTC) exchange-traded funds (ETFs). According to TraderT's data on the 2nd (local time), U.S.-traded spot Bitcoin ETFs recorded total net inflows of $624.81 million that day. This marks four consecutive trading days, with BlackRock's IBIT accounting for the bulk of the inflows at $464.11 million. Fidelity's FBTC followed with $89.6 million, and ARK Invest's ARKB recorded $45.2 million in net inflows. Additionally, Bitwise's BITB had $11.2 million, VanEck's HODL $1.7 million, and Grayscale's GBTC $2.8 million in net inflows. Meanwhile, there were no inflows into the Invesco, Franklin, Valkyrie, and WisdomTree (WisdomTree) ETFs.

Canary Capital's application for a Litecoin (LTC) spot exchange-traded fund (ETF) has become uncertain. The U.S. Securities and Exchange Commission (SEC) has not taken any action despite missing the initial decision deadline scheduled for Oct. 3 (local time). Eleanor Terrett, host of CryptoAmerica (former Fox Business reporter), pointed out on the 2nd (local time) on her X, "The U.S. government shutdown could affect the approval schedule for the Litecoin spot ETF," adding, "The SEC is currently operating with minimal staff, and it is not known which matters are being prioritized." James Seyffart, a Bloomberg ETF analyst, also said, "In principle, the approval of the Litecoin spot ETF should have been decided on that day," and "The SEC appears to be encouraging filings for all products under a new generic listing standard." He added, "The existing deadline could become meaningless, and the government shutdown may be making the situation worse." Earlier, in the 'Contingency Plan' announced in August, the SEC said that if a government shutdown materializes it would suspend reviews of new financial products, rule changes by self-regulatory organizations, effectiveness reviews of registration statements, and expedited processing.

Boundless (ZKC) was designated as a cautionary listing on major domestic virtual asset (cryptocurrency) exchanges less than three weeks after being listed. The Boundless Foundation said it is cooperating to resolve the issue and clarified that there is no impact on network security. The Boundless Foundation stated on X on the 2nd (local time) that "we acknowledge the notice from the Digital Asset Exchanges Joint Council (DAXA) and are cooperating with the relevant parties to resolve the issue," and "we will share the situation with the community as soon as possible." It added that "this matter does not affect network security or operations." Earlier, DAXA designated Boundless as a cautionary listing, saying "there were shortcomings in the details and extent of changes to the circulating supply plan, the transparency and reasonableness of the change procedures, and the disclosure of material matters." It also added that "if important matters are changed without legitimate reasons, it could lead to investor harm," and "questions were not resolved despite communication with the foundation." Boundless was listed on major domestic exchanges such as Upbit, Bithumb, and Coinone on September 15, but was designated as a cautionary listing after just 17 days. Accordingly, whether the listings will be maintained is expected to be decided based on the results of reviews by the exchanges.

Jesse Pollak, head of BASE (the Layer-2 network operated by Coinbase), emphasized a cautious approach regarding plans to issue a token. On the 2nd (local time), Pollak said on Fortune's podcast 'Crypto Playbook' that "BASE's code is fully open source, and it aims to be an ecosystem with many developers participating, like Linux." He explained, "The main reason Coinbase is considering issuing a token on BASE is to achieve decentralization through incentive adjustments," adding, "If (token issuance) is actually implemented, it would inevitably draw the attention of both developers and investors. However, we are not rushing this initiative, and no immediate schedule has been set." He also said, "Token issuance can serve as a tool that generates revenue for a project while also harming the ecosystem," and "Coinbase is well aware of these issues and is approaching them carefully." He added, "Tokens have unique characteristics and cannot be applied in the same way to every situation," and "A strategy tailored to the project's characteristics, rather than a uniform approach, is necessary."

Spanish bank 'BBVA' is partnering with Singapore exchange 'SGX FX' to launch a service that allows retail customers to trade virtual assets (cryptocurrencies) directly through its platform. This is the first time a bank has introduced virtual asset trading for retail customers in the European market. On the 2nd (local time), CoinDesk reported that BBVA will support Bitcoin (BTC) and Ethereum (ETH) through this integration and plans to offer 24/7 trading based on the same infrastructure used for existing foreign exchange (FX) trading. SGX FX has been providing banks with liquidity, pricing, and risk management tools through global data centers in London, New York, Tokyo, and Singapore. Vinay Trivedi, SGX FX Chief Operating Officer (COO), said, "Based on 25 years of experience in the global FX market, we have closely integrated virtual assets into our existing services," and "We will help banks like BBVA provide virtual asset services smoothly without a full system overhaul." Luis Martins, BBVA's global head, said, "Virtual assets are rapidly becoming an essential part of the global financial system," adding, "It is a natural progression for customers to trade virtual assets through the same systems they are familiar with and trust."

<Next week's major economic schedule> ▶︎29 (Mon) : △Christopher Waller, U.S. Federal Reserve (Fed) governor speech (KST 20:30) ▶︎30 (Tue) : △China September Manufacturing Purchasing Managers' Index (PMI, KST 10:30) △UK Q2 GDP (KST 15:00) △US August Department of Labor job openings and labor turnover report (KST 23:00) ▶︎1 (Wed) : △European Union (EU) September Consumer Price Index (CPI, KST 18:00) △US September ADP nonfarm employment change (KST 21:15) △US September Manufacturing Purchasing Managers' Index (PMI, KST 22:45) △US September ISM Manufacturing PMI (KST 23:00) ▶︎2 (Thu) : △Korea September Consumer Price Index (KST 08:00) △US initial jobless claims (KST 21:30) ▶︎3 (Fri) : △US September Nonfarm Payrolls (KST 21:30) △US September Unemployment Rate (KST 21:30) △US Services Purchasing Managers' Index (PMI, KST 22:45) △US September ISM Non-Manufacturing PMI (KST 23:00) <Next week's major cryptocurrency schedule> ▶︎29 (Mon) : △Lido (LIDO) buyback vote △Avalanche (AVAX) team update △Ronin (RON) buyback start ▶︎30 (Tue) : △Sui (SUI) game onboarding △Paycoin (PCI) Korea re-release △Peaq (PEAQ) mainnet upgrade △PancakeSwap (CAKE) Polygon ZkEVM support △Kaia (KAIA) end of FNSA-KAIA swap support △Cross (CROSS) Rohan2 global launch △Optimism (OP) token unlock ▶︎1 (Wed) : △EigenLayer (EIGEN) token unlock △Sui token unlock ▶︎2 (Thu) : △Etena (ENA) token unlock ▶︎3 (Fri) :

The crypto asset (cryptocurrency) holdings of institutions that have adopted Digital Asset Treasuries (Digital Asset Treasuries·DAT) amount to $105 billion, effectively determining the supply of major blockchain networks. Alongside analyses that this is a short-term speculative frenzy, analyses suggest that in the long term it could emerge as a core growth engine of the Web3 economy. Ryan Watkins, an analyst at Syncracy Capital, said in a report released on the 23rd, "Current market discussions focus on short-term perspectives such as the scale of capital inflows, the duration of the premium, and the next popular assets," and pointed out that "many DATs lack substantive foundations beyond financial engineering, so they are likely to disappear when the cycle ends." However, he projected, "This period will be recorded as an early stage in securing an advantage in cryptocurrency holdings," and "major DATs will enhance their capital structures, refine operating strategies, and move beyond simple financial management to diversify services." In fact, some institutions already hold more assets than the related protocol foundations, and their expansion is accelerating. Watkins expected that, in the long term, institutions adopting DAT could evolve into 'a listed-company version of foundations.' He explained that they could expand beyond simple asset management into ecosystem investment, business operations, and governance participation, playing a central role in the Web3 market.

A forecast has emerged that Bitcoin (BTC) adoption at the national level will spread rapidly. Samson Mow, founder of Jan3, said on the 28th (local time) on the 'What Bitcoin Did' podcast released on YouTube, "(Nation-state adoption of Bitcoin) is at the tail end of gradual spread and has now entered the start of a rapid phase," and said, "It will unfold as a flow of gradual, then sudden adoption." He said, "The introduction of large-scale Bitcoin strategic reserves is only a matter of time," and predicted, "Soon there will be a buying competition at the national level and a 'cross-country FOMO' phenomenon will appear." He added, "The United States is pursuing budget-neutral Bitcoin purchases and the 'Bitcoin Act,'" and said, "There is a high possibility of establishing a strategic reserve within the year." Mow also cited Latin America as the region where Bitcoin adoption movements are most active, expressing strong optimism. However, he analyzed that price action is lagging market expectations. Mow said, "The major bull market should have already started in 2025," and said, "The cycle is delayed and could be pushed to next year."

Cathie Wood, founder and CEO of ARK Invest, acknowledged that interest in Ethereum (ETH) is growing but drew a line, saying it cannot replace Bitcoin (BTC). Wood said in an interview on the podcast 'Master Investor' on September 27 (local time) that 'interest in Ethereum has recently grown to the point of buying Bitmain stock,' but 'I still prefer Bitcoin because it will continue to expand.' Wood cited Bitcoin's strengths as ▲ a rule-based global monetary system ▲ a Layer 1 network that has never been hacked ▲ the first platform to create a completely new asset class. Wood emphasized that 'Bitcoin has established a unique position as a solid Layer 1 asset.' Wood also pointed out that Ethereum, despite its advantage of supporting decentralized finance (DeFi), faces fierce competition from Layer 2 projects. These remarks by Cathie Wood are interpreted as showing that Bitcoin's status as 'digital gold' remains firm even as interest in a spot Ethereum ETF rises.

Binance founder Changpeng Zhao directly stated that former Binance employees have partially joined the BNB-based decentralized derivatives exchange Aster (ASTER), and that Yzi Labs holds a minority stake. On the 27th (local time), Founder Zhao replied on his X account to a post saying "Aster has a few former Binance employees involved, and Yzi Labs holds a minority stake" by saying "This is an accurate quote. Fact-checking is not difficult." He earlier mentioned his relation to Aster on X Spaces, stating "I only advise on Aster's products and technology, and I am not involved at all with regulatory matters," and "I am not a lawyer, I'm just helping them," drawing a line. Aster recently launched its own token 'ASTER' and rose rapidly in a short time. It ranked first in decentralized perpetual futures trading volume, and the token price surged by 200% in just one week. In particular, interest in the market intensified as news spread of Zhao's supportive tweet and the famous YouTuber MrBeast's token purchase.

An analysis has emerged that the derivatives market will lift Bitcoin (BTC)'s market capitalization to over $10 trillion. On the 27th, according to global virtual asset (cryptocurrency) exchange Binance, Bitcoin's market cap was about 2.2 trillion won. On that day, James van Straten, a market analyst at the crypto exchange Bullish, said on his X, "The path to a $10 trillion Bitcoin market cap begins in derivatives," citing changes in the Chicago Mercantile Exchange (CME) options market as the key reason. He explained, "CME option open interest (OI) has reached an all-time high," adding, "This is backed by the proliferation of systematic volatility-selling strategies such as covered calls." He added, "As Bitcoin option liquidity deepens, the market structure is gradually maturing." He also forecast that BlackRock's recently prepared covered-call-based Bitcoin ETF will bring new trading volume to the CME market. Van Straten said, "This product will create additional demand by utilizing CME options," and "As institutional investor inflows increase, the CME's derivatives ecosystem will be further strengthened." He emphasized, "While it will be difficult to see the same rapid Bitcoin rallies as before, sharp market declines will also be mitigated," adding, "This ultimately means a transition to a more mature market structure."

A record weekly outflow occurred from spot Ethereum (ETH) exchange-traded funds (ETFs). This coincided with a decline in major crypto asset (cryptocurrency) prices, weakening demand from institutional investors. On the 27th (local time), crypto asset data firm SoSoValue reported that a total of $795.6 million flowed out of spot Ethereum ETFs this week. Weekly trading volume topped $10 billion. Outflows from large funds were notable. More than $200 million flowed out of BlackRock's spot Ethereum ETF 'ETHA.' However, assets under management (AUM) still exceeded $15.2 billion. Fidelity's 'FETH' recorded a net outflow of $362 million over the same period, showing the largest outflow. In particular, Ethereum's price fell below $4,000 for two consecutive days on the 25th and 26th, with about $250 million flowing out each day. This marks the worst two-day net outflow since mid-August. Earlier, crypto asset analyst Rachel Lucas told The Block, "The break below $4,000 was the result of the collapse of a technical support level, macroeconomic uncertainty, and chained liquidations." Ethereum's price later rebounded and recovered the $4,000 level on the 27th, but whether investor sentiment has recovered is unclear. The industry expects ETF fund flows to act as a key indicator of market direction for the time being. On that day, Ethereum was trading in the $4,020 range on Binance's Tether (USDT) market, down about 0.01% from the previous day.

Ethereum (ETH) fell below the $4,000 level, which had been considered a psychological support. On the 25th (local time), Ethereum slid to $3,815 on Binance, marking its lowest level in over two months. The sharp drop was driven by large-scale leveraged liquidations. According to Forbes that day, Joe DiPasquale, CEO of BitBull Capital, said in an email, "When the $4,000 support broke, a cascade of leveraged liquidations occurred," adding, "More than $300 million in long positions were liquidated in 24 hours." DiPasquale said the decline was the result of multiple factors rather than a single cause. He explained, "Macroeconomic anxieties, such as the possibility of a U.S. government shutdown, increased risk-aversion," and "the slowdown in inflows to spot Ethereum ETFs revealed weakened institutional demand. Forced selling, macro uncertainty, and weakened inflows combined to create a perfect storm." Julio Moreno, head of research at on-chain analytics firm CryptoQuant, highlighted a 'deleveraging' phenomenon in the derivatives market. He said via Telegram, "Today's price decline appears to be caused by moves to reduce positions in the perpetual futures market," adding, "Sell orders are outpacing buy orders by the largest margin in two months." He added, "Open interest has decreased by $1 billion over the past 24 hours," and "this shows that long position liquidations are continuing."

Simon Gerovich, chief executive officer (CEO) of Metaplanet (Metaplanet), expressed confidence, saying "We are unshaken" despite the downturn in the virtual asset (cryptocurrency) market. In a statement on the 25th (local time), CEO Gerovich said, "Metaplanet maintains a strong financial structure with leverage below 1% and has secured sufficient assets and financial capacity to execute the next-stage strategy." He added, "We thank our supporters and shareholders," and emphasized, "Despite critical views, we will lead innovation in Japan's equity and bond markets." These remarks come as the virtual asset market has recently entered a bearish phase. On the same day, the price of Bitcoin traded around $109,580 on the Binance Tether (USDT) market, down about 2% from the previous day. It was the first time in 20 days that the $110,000 support level had been breached. Industry observers note that, given Metaplanet's attention for its Bitcoin-holding strategy, the remarks are being interpreted as a message emphasizing a long-term vision amid market uncertainty.

Cryptocurrency asset manager Bitwise has filed an application with the U.S. Securities and Exchange Commission (SEC) for approval of a 'Hyperliquid (HYPE) spot exchange-traded fund (ETF)'. According to BlockNews on the 25th (local time), this ETF is designed to allow institutional investors to invest without directly managing tokens through regulated brokerage accounts. The trust structure is the same as existing Bitcoin spot ETFs. Authorized participants issue and redeem shares in large block units, and the value is linked to HYPE's daily net asset value (NAV). Unlike futures-based products, it does not include derivatives or leverage, and it is a spot ETF structure that holds actual HYPE as the underlying asset. The product will be custodied by Coinbase Custody, and Bitwise Investment Advisors will act as the sponsor. The market reacted immediately upon the news. HYPE's price recorded a 4% gain from the previous day to 42.50 dollars, according to CoinMarketCap.

U.S. financial authorities are investigating trading patterns of companies that have promoted purchases of Bitcoin (BTC) and other virtual assets (cryptocurrencies) as a core strategy. In recent months, the number of companies announcing plans to adopt a "Digital Asset Treasury (DAT)" has surged, and regulators are closely watching after abnormal trading volumes and sharp stock price increases were observed just before announcements. On the 25th (local time), The Wall Street Journal (WSJ) reported that the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) have sent letters raising related suspicions to some of the roughly 200 companies that announced such strategies this year. However, it is not yet known whether any specific companies or investors have been identified as subjects of formal enforcement actions. Regulators pointed to cases where a company's stock price rose abnormally just before announcements, warning of possible violations of Regulation Fair Disclosure. That rule prohibits publicly listed companies from providing material nonpublic information to certain investors or analysts only. David Chase, a former SEC attorney, said, "Such letters are typically the first step that leads to insider trading investigations," adding, "Whether they will lead to actual enforcement is uncertain, but they create significant tension for companies and the market." According to virtual asset asset-management adviser Architect Partners, 212 companies this year announced plans to raise about $102 billion through stock and bond issuances to purchase Bitcoin and tokens. This is a move following the model of the strategy. The problem is that there have been cases in which non-public agreements were not upheld in the process. Companies sign nondisclosure agreements (NDAs) while contacting outside investors to discuss fundraising, but in some cases stock prices surged just before announcements, raising suspicions of information leaks. Justin Platt, a partner at law firm Goodwin, pointed out, "If a stock's price fluctuates excessively just before a deal, pricing itself becomes difficult and the risk of the deal falling through increases," adding, "Information leaks not only raise insider trading suspicions but also negatively affect the actual fundraising process."

The world's largest asset manager BlackRock reportedly submitted an application to the U.S. Securities and Exchange Commission (SEC) to launch a "Bitcoin Premium Income ETF" valued at US$12.5 trillion. On the 25th (local time), according to KuCoin, BlackRock plans to list this ETF on Nasdaq, and bitcoin custody is expected to use Coinbase Custody, as with existing ETFs. This product is characterized by combining income-generating strategies such as covered call options, beyond merely tracking bitcoin's price. Through this, investors can enjoy bitcoin's long-term upside potential while also expecting a stable cash flow. Industry sources expect the product to be designed to target an annual dividend yield of 5~10%. However, approval is uncertain. While the SEC has approved spot bitcoin ETFs so far, it remains conservative toward income-oriented ETFs that include options strategies. An industry official explained, "BlackRock's move shows an attempt to incorporate bitcoin into regulated investment portfolios as more than a speculative asset," adding, "however, regulatory and market stability challenges will follow."

Adeniyi Abiodun Mistine Labs CPO Edison Chen CUDIS CEO Exclusive joint interview Sui·CUDIS, blockchain-based healthcare alliance Aiming for 'mainstream'…"Will become a service in everyday life" Limited-edition ring release…pop-up store in Seoul "Korea leads Asia's tech trends" Next-generation Layer 1 blockchain platform Sui has entered the healthcare industry. It has formed a partnership with CUDIS, the developer of the AI ring "CUDIS," with the ambition to build a "blockchain-based healthcare" model in which users directly own and manage their personal health data and even receive rewards. Adeniyi Abiodun, Mistine Labs co-founder and Chief Product Officer (CPO), and Edison Chen, CUDIS Chief Executive Officer (CEO), told BloomingBit in an exclusive interview on the 25th that "Sui's technology and CUDIS's vision have aligned" and emphasized that "this partnership will present a new consumer-centered healthcare model." CUDIS collects users' wellness data such as activity, sleep, and heart rate through the AI smart ring "CUDIS Ring" and links with a dedicated app to provide personalized insights. Beyond simple recording, the data is securely stored on the blockchain and its value is returned to users in the project's native token, "CUDIS." Sui·CUDIS, blockchain-based healthcare alliance This partnership was finalized after more than a year of discussions. Sui's reason for focusing on the healthcare market is clear: to solve the problem of the lack of ownership of health data that individuals have been providing to companies using blockchain. The global digital healthcare market is projected to grow from USD 309.9 billion (about KRW 433 trillion) in 2023 to USD 509.0 billion (about KRW 711 trillion) in 2027. However, issues such as lack of data ownership, insufficient interoperability between systems, and intermediaries monopolizing value remain unresolved. The two companies plan to combine the CUDIS Ring with Sui's infrastructure to address these issues. Data collected by the CUDIS Ring and app will be encrypted via the encryption protocol "Seal" and securely stored in the decentralized storage "Walrus." Users can directly view, share, and delete their data through Walrus, and receive rewards in "CUDIS" for providing data. Rebecca Simons, Walrus Foundation Head of Operations, said, "We guarantee individuals full control, from access rights to deletion rights," adding, "We can ensure both the durability and reliability of the data." CPO Abiodun said, "Users have been providing information to companies without receiving any benefits," and added, "Blockchain can solve these structural problems. Through this agreement, we want to demonstrate the practical value of blockchain technology: individuals can fully own their health information and receive rewards for it. Full integration of the Sui ecosystem and CUDIS will make this possible." You don't need to know blockchain…"We will create a new model" CPO Abiodun described this agreement as a representative example of Sui's emphasized 'mainstreaming philosophy.' He said, "The most important thing is that users can use the blockchain technology embedded in CUDIS naturally without being aware of it," and added, "True mainstream adoption is providing data ownership and profit opportunities simply by wearing a device that helps improve health." He also said, "Sui is a blockchain architecture specifically designed for mainstreaming," and expressed confidence, "By offering Web2-like usability, we will help CUDIS users manage and access their data using familiar login methods." CEO Chen also said, "I am confident this agreement will become a new model for consumer-centered apps and services," adding, "Technologies like blockchain and AI are not difficult and complex; they should be solutions that provide practical help in daily life." He went on to say, "CUDIS started on Solana (SOL) and expanded to World (WLD) and BNB Chain," and stated, "This integration with Sui will create an opportunity to attract billions of new users." CUDIS to release Sui limited-edition product…pop-up store in Seoul Through this agreement, CUDIS and Sui will introduce the "CUDIS x Sui" limited-edition ring. CEO Chen said, "We will provide users with a completely new experience," and expressed confidence, "This limited-edition ring will be a turning point for the Web3 market." They also unveiled plans to target the Korean and Asian markets. CEO Chen said, "Over the next 18–24 months, we will open pop-up stores in major cities such as Seoul, Tokyo, and Kuala Lumpur to provide special experiences to communities and attract more mainstream users," he said. He added, "We will work with local partners like gyms and wellness centers to integrate the CUDIS Ring and services into their programs and strengthen their businesses as a super app," emphasizing, "We plan to expand user touchpoints across Asia." CPO Abiodun also highly valued Korea's strategic importance. He said, "Korea is a market with technical sophistication, advanced regulation, and user adoption patterns that align with our mainstreaming goals," and explained, "We have projects such as 'Builder House Korea,' which places a dedicated team in Seoul to support the local developer community." He added, "Korea actively embraces blockchain innovation and leads Asia's tech trends," and said, "Through this collaboration, we will demonstrate that Sui provides superior performance and user experience compared to existing platforms."

Lee Seung-yoon, CEO of Story (STORY), emphasized, "South Korea is the most intellectual property (IP)-friendly country in the world and at the same time AI- and crypto-friendly," adding, "At the point where IP, AI, and blockchain converge, South Korea will become the center of global innovation." At the 'Origin Summit' held on the 23rd at Anderson C. Seongsu in Seongdong-gu, Seoul, Lee said in his keynote speech, "South Korea is a content powerhouse known to the world," and added, "From 'Squid Game,' which recorded Netflix's highest viewership, to 'Baby Shark,' which recorded the most views worldwide, and K-pop groups BTS and BLACKPINK — all came from Korea." He said, "We signed an exclusive partnership with the Seoul Exchange, which holds an RWA (real-world asset tokenization) license that only a few domestic entities possess, opening a legal path for Korean investors to trade IP assets," adding, "We will expand IP finance and data tokenization infrastructure from Korea to the world." However, there is a structural problem in which AI trains on creators' data without paying fair compensation. Lee proposed 'IP tokenization' as Story's solution. The idea is to make IP a liquid asset like stocks or tokens and enable anyone to invest and trade via blockchain. Citing the music copyright fund 'ARIA,' he said, "By tokenizing song catalogs, investors are earning 7~12% annual returns, and early participants have recorded annual returns of up to 70%." He also emphasized, "We programmed IP terms into smart contracts to automate copyright, royalties, and license rules," adding, "Through this, creators can freely expand their IP globally and receive compensation from derivative works without a lawyer." He said K-content and real-world data will be core expansion axes of the Story ecosystem. He said, "Korean webtoon hits like 'Solo Leveling' are onboarding to the Story chain and are reviewing issuing IP-based meme coins, and Barunson, the production company of the film 'Parasite,' is preparing a remix short-form app." He added, "We have also formed a partnership with Asia's largest music fund that manages large music catalogs such as BTS and BLACKPINK." Story is expanding beyond entertainment into the AI training data market. Lee said, "Robots and AI need massive video and audio data to operate in the real world," explaining, "Story operates a data layer 'Sida(Sida)' that rewards anyone who uploads voice or video with instant stablecoins or tokens using crypto incentives." He added, "Already more than 800,000 data items are uploaded daily, and over 400,000 participants worldwide are active."