According to Nicky Chalabi of Near Foundation, projects like Tracer seek congruence with the ecosystem's basic ideals in order to assist the company's plan in the future.
The chaos on the crypto market following the Terra crash heightened the ministers' feeling of urgency to finish the regulating process.
The digital currency markets have been volatile in recent months, with bitcoin losing 15.43% and ethereum losing 17.49% versus the US dollar. Furthermore, crypto spot sales are down 18.95 percent from the previous month, while futures and options volumes were also down in April. Lower-than-average transaction volumes usually indicate a drop in general interest, and investors may be waiting for lower prices.
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