The post Major Partnerships and Market Milestones appeared on BitcoinEthereumNews.com.

In this week’s crypto news review, we explore significant developments shaping the blockchain and digital finance landscape. From groundbreaking partnerships to expanding networks, the industry continues to push the boundaries of innovation. Key highlights from this week include Alibaba Cloud’s collaboration with Conflux to boost Web3 adoption in Hong Kong, Ethereum’s impressive $46B in total value locked (TVL), and Anchorage Digital’s new custody support for Bitcoin Layer-2 solution Stacks. Additionally, reports point out that Bitcoin whales remain unfazed by market volatility, while Alchemy Pay expands its crypto-fiat integration on Algorand. Overall, the week has been marked by significant partnerships, growing DeFi metrics, and strategic moves by major players, indicating continued momentum and innovation in the crypto industry. Here’s a closer look at these pivotal stories one by one for your clear understanding. Alibaba Cloud and Conflux Network Join Forces to Boost Web3 Innovation in Hong Kong In a significant move this week, cloud computing giant Alibaba Cloud and Conflux Network have partnered to drive Web3 solutions across sectors like retail, tourism, and education in Hong Kong. The collaboration combines Conflux’s fast and secure blockchain infrastructure with Alibaba Cloud’s global network and computing expertise. Cyberport, Hong Kong’s Web3 innovation hub, plays a key role in supporting this initiative. Backed by a HK$50 million grant from the Hong Kong SAR Government, Cyberport fosters Web3 growth. This move is attracting over 230 companies, including major firms like Animoca Brands and CertiK. This partnership aims to empower businesses to adopt Web3 technologies, creating a thriving ecosystem for digital innovation in the region. Ethereum Network Reaches $46B in TVL, Led by Lido and Key DeFi Protocols The Ethereum network’s total value locked (TVL) has reached $46 billion, showcasing its central role in decentralized finance (DeFi), according to DefiLlama. Lido leads with $23.5 billion TVL, dominating…

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Filed under: News - @ September 8, 2024 2:07 pm