NOVA

UpTop and Bitring officially join the BNB Hack sponsorship lineup to support the implementation of AI and DeFi innovations

ChainCatcher news, BNB Chain announces the welcome of DeFi protocol UpTop and AI health technology platform Bitring as the new official sponsors of the BNB Hack hackathon. This addition not only brings two new bounty challenges for developers but also further expands BNB Hack's technical exploration in cutting-edge fields such as AI, DeSoc, DeSci, and DePIN.UpTop is a decentralized liquidity protocol built on BNB Chain that lowers the entry barrier for DeFi users through one-click BNB single-sided staking and IL protection mechanisms. UpTop has launched an $8,000 bounty challenge to encourage developers to innovate contract expansions and governance mechanisms around next-generation liquidity pools.Bitring is a wearable health platform that combines AI biomonitoring, on-chain incentives, and smart contract insurance. Its core product is a 999 gold smart ring that provides 24-hour health data analysis and on-chain protection. Bitring has set up 10 Genesis smart rings (each valued at $1,199) as development rewards to encourage the creation of AI modules that can recognize dietary and nutritional analysis.Since the launch of the event, BNB Hack has attracted hundreds of teams from around the world to submit projects, including several early projects that have gone live or received investment, such as Tokrio, Stitch AI, PlayAI, and BINK AI. Currently, 37 projects are still receiving support from ecosystem mentors and have the opportunity to win subsequent awards.

The People's Bank of China: Support the promotion of innovative applications of digital renminbi to relevant free trade pilot zones

ChainCatcher news, according to Jinshi Data, Ji Min, head of the Research Bureau of the People's Bank of China, stated at a regular press briefing by the State Council on July 4 that the next step for the People's Bank will be to work with relevant departments and other financial regulatory bodies to continue supporting the deepening of the free trade pilot zones in aligning with international high-standard economic and trade rules and promoting a higher level of institutional opening-up, based on effective risk prevention.On one hand, further deepen financial openness and innovation in the Shanghai Free Trade Zone. Recently, eight supporting policies were announced at the Lujiazui Forum, including the development of offshore bonds for free trade, optimizing and upgrading the functions of free trade accounts, and carrying out comprehensive reform pilots for offshore trade financial services, among others.On the other hand, efforts should be made to replicate and promote the "Shanghai experience," supporting the promotion of innovative applications of the digital renminbi and other measures to relevant free trade pilot zones, and extending measures to optimize electronic payment services nationwide, exploring practical paths for the open and innovative development of China's financial sector, and accumulating more replicable and promotable experiences.

Bernstein: Ethereum Reaches a Critical Turning Point, Financial Innovation Transformation Becomes the New Main Line of the Market

ChainCatcher news, according to a report by The Block, Bernstein analysts indicate that the cryptocurrency market is shifting from speculative trading to blockchain-driven financial innovation, with Ethereum becoming the core vehicle of this transformation. Although Bitcoin is still viewed as an important store of value (the institution maintains a target price of $200,000 for this cycle), mainstream attention has extended to innovations in underlying blockchain financial applications.Data shows that the assets under management (AUM) of Bitcoin spot ETFs in the U.S. have surpassed $120 billion within two years, while the AUM of the Ethereum spot ETF launched last July is currently only $9 billion. However, recent fund flows into Ethereum ETFs have significantly rebounded—net inflows of $815 million over the past 20 days, with year-to-date net inflows turning positive at $658 million, reflecting increased institutional interest.Analysts emphasize that Ethereum's positioning as a "decentralized computer" places it at the core of scenarios such as stablecoin issuance and asset tokenization. Payment giants like Visa and Mastercard are actively laying out stablecoin strategies; Coinbase is advancing merchant payment pilots through its Layer 2 network Base, Robinhood is promoting the tokenization of real-world assets, and Kraken plans to launch tokenized U.S. stocks for international users, confirming the acceleration of blockchain financial applications."When real companies and institutional investors innovate on the blockchain, underlying network assets like Ethereum will gain value support," the report states, noting that the gas fees generated from stablecoin transactions have formed substantial value capture. Market perception is undergoing a critical shift: investors are beginning to associate the value of blockchain applications with the value of underlying tokens, driving funds to spread beyond Bitcoin assets.
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