Mineplex Banking News (EN)

TOP questions about moving PLEX PLEX is expected to move in the summer of 2024. Let's answer the main questions about this event. When will the moving be? We continue to publicly test the EVM part of the CrossFI Chain. The upgrade of the main network is scheduled for the end of May, after which we will begin the process of moving PLEX. How much PLEX will I get? The number of PLEX consists of 3 indicators: 1. PLEX balance on the wallet. 2. The MINE balance on the wallet will be converted to PLEX at the rate of 15,000 MINE = 1 PLEX. 3. Depending on the amount of MINE in the wallet, it will be calculated how much PLEX you would still have mined before the end of its issue. This amount will be credited to the total balance. The combined balance of PLEX will be transferred to the CrossFi Chain 1 to 1. How will the PLEX move happen? We will reveal detailed instructions and conditions later. What should I do with PLEX now? 1. Hold until moving. 2. Sell on the MEXC exchange for USDT. Where to use PLEX after moving? The company's goal is to create PLEX utilities, the possibility of its active use. After the move, PLEX will be used in the xAPP - DeFi Cross Finance application. The application allows you to manage and exchange tokens between networks, create liquidity pools, receive commissions from trading operations and earn money. xAPP will have the possibility of decentralized PLEX exchange. PLEX will participate in the release of the xUSD stablecoin. This is CrossFi's own stablecoin, which is backed by cryptocurrency. It can only be created with XFI or PLEX. XUSD can be used for various purposes: storing assets, buying other tokens, earning commissions, etc. PLEX will be used as collateral for the issuance of a stablecoin. We thank you for your support and patience. Stay in touch!

Why do we need new stablecoins on the market? Stablecoins are becoming an increasingly important sector in the crypto market. The market capitalization is more than $156.8 billion in April 2024. Stablecoins provide a wide range of utilities, from a centralized exchange to DeFi services. Cointelegraph experts investigated why the market benefits from the emergence of new stablecoins. We have highlighted the top 3 responses. An alternative for saving funds The top countries with the highest inflation are Argentina, Turkey, Venezuela, and Brazil. Residents of these countries are constantly looking for an alternative to the national currency. Access to banking services More than 2 billion people in the world do not have access to banking services, they live on less than $300 per month. They do not have bank accounts, and they are not able to make the usual transactions. Stablecoins give them the opportunity to use financial services. Competitiveness Most stablecoins do not have a transparent security system. However, the emergence of new, trustworthy stablecoins affects the growth of confidence in the market, increases the importance of the industry and the attention of regulators. According to the CEO of Tether, there is “a place for all [stablecoins] in the market. Given that the United States prints about $1 trillion every 100 days, the crypto market could probably be 30 times larger than it is."

Top 3 Asset Tokenization Assets worth $3 billion were tokenized by 2023. By 2030, growth is projected to reach $16 trillion. What is asset tokenization and how is it applied? Let's discuss it. What is asset tokenization? This is the placement of data in the blockchain about the ownership rights to traditional assets. The tokens received represent a share of ownership in the underlying asset. Practically any asset can theoretically be tokenized: corporate shares, real estate, art, etc. Turning these assets into digital tokens makes them divisible and allows democratizing access to investment. This increases the liquidity of traditionally illiquid asset classes. 1. Real estate Real estate is one of the most promising and frequently discussed examples of a tokenized asset. Real estate transactions often require a combination of money up front and large loans. By tokenizing real estate assets, investors can more easily buy or sell shares in individual properties and with less need for intermediaries. 2. Bonds The tokenization of bonds is a trend that has already gained momentum. Tokenization can simplify the bond issuance process and automate aspects of bond management, such as interest payments and maturity calculations. It also reduces the number of intermediaries, reduces transaction costs and makes the market accessible to investors. 3. Carbon quotas Carbon quotas can be traded like any other financial instrument. For example, companies that don't actually reduce their emissions can buy carbon quotas from those who have already done so. This allows them to pay for reducing their environmental impact on paper and meeting their emissions requirements in accordance with the law. The tokenization of carbon quotas can increase market transparency and efficiency and open up access for small companies to buy and sell assets. Asset tokenization is a real way to combine the crypto economy with the old world of traditional finance, giving more people the opportunity to invest in assets that are currently unavailable to them and increasing market efficiency.

Crypto Adoption 2023 The index of crypto acceptance of countries does not depend on the volume of transactions in the country, but on the amount of daily use of cryptocurrency by residents in everyday affairs. Chainalysis researchers have published a report for 2023 on market trends, crypto adoption, and factors influencing the use of cryptocurrencies. Let’s discuss the main thing. Top Leading Countries in Crypto Adoption 2023 The leaders have changed places this year, but the top 3 countries have remained the same: India, Nigeria, Vietnam. The countries of Central and South Asia and Oceania continue to dominate the top 10. North America is the largest cryptocurrency market with an estimated value of $1.2 trillion. This is 24.4% of all transactions in the world. In comparison, Central and South Asia and Oceania account for 19.3%, while Europe occupies 17.6%. Where is the future of cryptocurrency? In 2023, the most dynamic crypto market is located in Central and South Asia and Oceania. The region dominates in terms of purchasing power and population. Six out of ten countries are in the top countries: India (1), Vietnam (3), Philippines (6), Indonesia (7), Pakistan (8) and Thailand (10). Various factors stimulate the introduction in different countries of the region, which leads to different indicators of the use of different types of cryptocurrency services. How is cryptocurrency used in the leading region? Centralized exchanges take up most of the web traffic in all these countries, as well as all over the world. But there are serious differences in other ways of using digital assets. For example, in the Philippines, a huge share of cryptocurrency-related web traffic falls on gaming platforms — 19.9% (for comparison in Vietnam - 10.8%). In Pakistan and Vietnam, there is a higher share of activity in the P2P sector. Here, the cryptocurrency acts as a savings in conditions of high inflation and devaluation of the national currency.

Most Used Payment Methods in E-commerce 2027 Statista published a new study on popular online payment methods last year and made a market forecast until 2027. Let's discuss it. Top 3 Payment Methods Half of the payment transactions are accounted for by mobile wallets. Their popularity will continue in the next 4 years. In the period from 2023 to 2027, the average annual growth rate will be 14.9%. Credit and debit cards are in second and third places. According to forecasts, however, they will be used less and less. Cryptocurrency Payments In 2023, they accounted for less than 0.2% of the global value of e-commerce transactions. Experts were unable to make forecasts for the next 4 years, because at the moment the number of offers from retailers who accept cryptocurrency as payment is limited. However, the demand for the use of digital assets is growing. According to surveys, 64% and 44% of customers are interested in paying with cryptocurrency for travel and hotel reservations, respectively. And what would you like to pay for with cryptocurrency?

How much did investors earn in 2023? We have already found out that 2023 was the year of the recovery of the cryptocurrency markets. How well were investors doing? Total profit In 2023, all crypto investors made a total profit of $37.6 billion. The increase compared to last year in 2023 was due, among other things, to a lower conversion of crypto assets into cash. Investors expected prices to rise even higher. Which country has the most profit? In 2023, US investors led the way in terms of profits from cryptocurrencies by a wide margin. Revenue amounted to $9.36 billion. The UK took second place with an estimated profit from the cryptocurrency of $ 1.39 billion. Vietnam is in third place. Why do low-income countries make high profits? The top 6 countries with the highest profits include several countries with lower-than-average incomes: Vietnam, China, Indonesia and India. They have achieved an estimated profit of over $1 billion. The main reason for sustainability, despite the bear market of 2023, was the active introduction of cryptocurrencies in these countries. Using cryptocurrency is one of the alternative ways to save money in an inflationary environment. However, the main advantage of cryptocurrencies is access to financial instruments in low-income developing countries, where banking services are not available to the population. All the details: https://www.chainalysis.com/blog/cryptocurrency-gains-by-country-2023/

How big was crypto crime in 2023? 2023 was a year of cryptocurrency recovery as the industry recovered from scandals and price cuts in 2022. How has this affected crypto crimes? Chainalisys has published a detailed study. How much was stolen? (spoiler less than 0.5%) In 2023, illegal activity in the crypto market amounted to 0.34% of the total volume of crypto transactions. The crimes include funds sent to illegal addresses, funds stolen as a result of crypto hacks. In 2022, it was 0.42%. What is being stolen? Until 2021, bitcoin was the leader among crypto crimes, probably due to its high liquidity. Over the past two years, the situation has changed, and most of the illegal transactions are in stablecoins. This change is due to the recent increase in the share of stablecoins in all crypto activity in general, including legitimate activities. How is it stolen? Income from crypto fraud and hacker attacks fell significantly in 2023, while the total amount of illegal income for each of them decreased by 29.2% and 54.3%, respectively. Crypto scammers are currently targeting individuals and talking about fraudulent investment opportunities. The number of DeFi hacks has decreased significantly. This may mean that DeFi protocols are improving their security practices. Hacker attacks, according to the researchers, are much more difficult to hide, since observers can quickly detect leaks from a service or protocol. We remind you about security on the Internet and in the crypto market. The responsibility for the funds lies solely with you. Do not disclose the seed phrase to anyone. Remember that company representatives never write first. Be careful!

Bank 2030. The transformation of banking Deloitte has published a large study on the future of banking. How will the traditional business model change, and what will help banks survive the transformation? We have identified three main trends. 1. New technologies Technology is changing banking and the financial capital markets industry. Blockchain, Artificial Intelligence and automation have led to innovation throughout the business and will continue to do so. Companies are forced to develop and implement these technologies in order to keep up with competitors and maintain market positions. 2. New financial services The ecosystem of financial services is expanding. Fintech companies are entering the market, which are updating the range of services for users. Large financial organizations and banks are coming to understand the need to develop this service sector. The importance of a sound ecosystem strategy and effective coordination will be crucial. 3. New security system Financial crimes are evolving as criminals master new and innovative ways. Cybersecurity comes first to protect customer funds. Financial institutions need to use advanced technology to effectively detect fraud.

Moving PLEX PLEX's move to the new CrossFi Chain will take place in July-August 2024. Here are more details. On February 20, the testnet of the EVM part of the CrossFi Chain was launched. In the next three months, a huge number of validators, developers and users will check the smooth functioning and stability of the EVM network. This is necessary for the safe operation of the blockchain. After that, the mainnet will be launched. The mainnet is the main network of the EVM part of the CrossFi Chain, where PLEX will be relocated. All PLEX 1 to 1 will be transferred to the new CrossFi Chain network without commission and additional payments. We will make the PLEX transition as high-quality and user-friendly as possible. Later we will give instructions and step-by-step explanations of all the steps. Thank you for being with us!