☀️ Good Morning! Over the past weekend, a cluster of China’s top tech companies and academic institutions – released a whitepaper outlining suggestions for China’s Web3 policy. Bulls of the China narrative say that mainland China is only a few steps behind Hong Kong in opening its doors to crypto trading. But does the reality align with this claim?
🧐 Is the Chinese government warming up to digital assets?
Not so much.
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The Securities and Futures Commission (SFC) of Hong Kong has recently announced a new policy, stating the introduction of a rulebook for the crypto scene. According to the policy, retail investors will be able to commence trading crypto starting from June 1, 2023.
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On May 27, Beijing published the Web3 Innovation and Development White Paper (2023), which characterizes Web3 technology as an "inevitable trend for future internet industry development."
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The recently released whitepaper from Beijing indicates China's focus on embracing Web3 technology within the scope of its internet technology development. However, it is important to note that the whitepaper primarily emphasizes China's existing policy regarding blockchain rather than crypto. Its main focus lies in defining and enhancing the layers of infrastructure behind the internet, and yet this doesn't have anything to do with crypto trading.
🤖 Minimal coding skills required
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Some Numbers#
$RSS3 Statistics (as of May 28, 2023)#
| Market Cap | $44,540,000 | |
| 24h Volume / Market Cap ratio | 0.0209 | |
| 7d Low / 7d High | $0.106 / $0.123 |
Market DeFi Index#
Last week’s crypto market prices rose slightly by +1.81%. Volume and volatility also increased by +1.71% and +91.63%, respectively.
🧐 Bitcoin (BTC) and Ethereum (ETH) were both up at +5.9% and +6.8%, respectively, in the past seven days. Other selected top-cap tokens also mostly rose.
Bitcoin moved back above US$28,000 in Monday morning trading in Asia, leading a rally among all top 10 non-stablecoin cryptocurrencies. Ethereum broke through the resistance ceiling of US$1,900.
Source: Crypto.com Research
RSS3 Network Metrics (as of May 28, 2023)#
| Total API Calls | 207.2M | |
| Total Open Web Activities | 373.0M | |
| Last 7-Days Active Personas | 49,147 |
Product Update#
RSS3 API#
- Preliminary Mastodon support has been implemented for selected Mastodon instances via RSS3 Data API v1, this should be put into production soon, we will explain how it works in the next update.
- We have made significant progress in enhancing profile data processing across all platforms (e.g., ENS), enabling real-time profile status queries. The existing data might still be outdated, but it will catch up soon.
- Our team is actively working on building RSS3 Data API v2 (ETA mid-July), with the ongoing integration of additional contracts (on top of v1's coverage).
RSS3 AIOP#
- Model 1, has undergone optimization to enhance its performance and efficiency.
- We have introduced Web3 news to feed search, providing a broader range of content to explore.
- Our team has continued working on backend optimization to ensure smooth and seamless operations.
Marketing Update#
- We are teaming up with 4EVERLAND in their #FirstSowing NFT giveaway. Search "4everland" on Hoot.it to get early access to a new feature of 4EVERLAND.
Stay tuned for more updates, and keep the good vibes flowing!
📭 Til next week!
RSS3 Team
💡 RSS3 is an information dissemination protocol designed to achieve free, efficient, and secure information flow on the Open Web. We bridge Web3 to AI, search, social media, and beyond.
Find Us#
🐦 Twitter: https://twitter.com/rss3_
👾 Discord: discord.gg/CXrJFSeZQz
🤖 Official Website: https://rss3.io/
📮 Email: [email protected]