Ecosystem Update November 23

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Dear investors,

We are thrilled to unveil our November 2023 Ecosystem Update. In this detailed update, we explore the pivotal industry trends, the successes within the Advanced Blockchain ecosystem, and the latest organizational developments, providing a full overview of our journey and the industry at large.

Macro Industry View

After a long wait of more than 1.5 years, Bitcoin price surpassed the $42,000 mark for the first time since April 2022, a milestone not achieved since the Terra crash, while Ethereum exceeded $2,200. This surge propelled Bitcoin's market cap to over $812 billion, slightly edging out Berkshire Hathaway's market cap of $779 billion as of December 1st.

Bitcoin has ascended to the 10th position among the largest assets by market capitalization, trailing behind Meta Platforms (previously known as Facebook) and Nvidia, which have market values of $834 billion and $1.2 trillion, respectively.

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As Bitcoin's market capitalization exceeds $800 billion, it is now only 38% below its All-Time High of $69,000, which took place in November 2021.

Simultaneously, the surge in cryptocurrency prices also led to a rise in crypto-related stocks. Coinbase (COIN), a crypto exchange, saw an almost 9% increase in pre-market trading, similar to Microstrategy (MSTR). Crypto mining companies like Marathon Digital (MARA) and Riot (RIOT) experienced gains of over 10%.

Bitcoin saw its price drop below $40,000 in April 2022 but has been recovering quite well in recent months. This rally is largely attributed to perceived dovish remarks from U.S. central bankers and the anticipation of a potential approval for a spot bitcoin exchange-traded fund (ETF) in the U.S.

Therefore, crypto fund inflows at asset managers like CoinShares, Bitwise, Grayscale, ProShares, and 21Shares saw an addition of $176 million last week, marking a 10-week run totaling $1.76 billion, as per the latest report from CoinShares.

Hence why, Crypto fund inflows at asset managers such as CoinShares, Bitwise, Grayscale, ProShares and 21Shares added $176 million last week, reaching a 10-week streak of $1.76 billion, according to CoinShares’ latest report.

Leading the inflow charts were Canada, Germany, and the U.S., contributing $79 million, $57 million, and $54 million, respectively. In a contrasting trend, Hong Kong registered $15 million in outflows, and the Asian region overall has been one of the few to see net outflows year-to-date, despite a global increase in investments in digital assets.

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Considering the latest developments, experts predict that the upcoming year will be generally bullish for the overall market, with increased institutional adoption of digital assets.

Ecosystem Key Updates

Summary

Panoptic raised $7 million in seed funding round led by Greenfield capital, with notable contributions from gumi Cryptos Capital, L1D, and other key industry leaders
The steady increase in KREST token price is expected to add a seven-figure value to the group’s portfolio
Composable team announced the upcoming integration of the Solana network into the Inter-Blockchain Communication (IBC) Protocol, powered by Picasso
Neon EVM team’s recent partnership with deBridge will enable cross-chain interoperability for Neon Network, enhancing accessibility for developers and users
Talisman team is continuously improving their product with new features for managing holdings across various blockchains

Panoptic

Panoptic has successfully raised $7 million in a seed funding round led by Greenfield Capital. This round also saw significant contributions from gumi Cryptos Capital (gCC), L1D as well as other influential pioneers in the blockchain industry.

The recent funding will be instrumental in further developing its perpetual options platform during this beta testing phase, ahead of an Ethereum mainnet launch and the introduction of a V2 product. With the recent infusion of new capital, the company significantly increased its valuation, raising a total of $11.5 million to date.

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Additionally, the Panoptic team launched an audit initiative for their broader community on November 27th, offering a chance to win a prize valued at $60,500. This initiative aligns with the essence of decentralized communities and contributes to enhancing the overall security of the protocol.

peaq

peaq team has reached a remarkable achievement with the launch of the initial Wicrypt hotspots, each bearing distinct peaq IDs, on the Krest network. These hotspots are now equipped to engage with the network and record transactions on peaq's chain.

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Moreover, Krest token price has been steadily rising since its launch in August this year, underscoring the project’s traction. Additionally, this increase in price has boosted the value of the group holding in KREST token, thus expected to contribute a seven-figure sum to the group’s portfolio.

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Lastly, below is a concise overview of the team’s key updates throughout November 2023.

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Composable

Composable team announced the imminent launch of connecting the Solana network to the Inter-Blockchain Communication (IBC) Protocol.

Solana IBC will be powered by Picasso and will join Polkadot, Kusama, Cosmos, and soon Ethereum in the cross-ecosystem IBC hub.

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Neon EVM

Neon EVM team recently announced a partnership with deBridge, a move that will facilitate cross-chain interoperability for Neon Network and enhance ecosystem accessibility for developers, applications, and users.

Ethereum, Solana, Avalanche, Arbitrum, and Binance Chain are some of the networks that will have the capability to bridge into Neon EVM's network.

Talisman

Talisman team is consistently enhancing their product by introducing new features allowing users to maintain their holdings across different blockchain. To simplify the user experience, they have implemented a feature that enables users to view all their holdings across all chains with just a single click.

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ABAG Update

As 2023 draws to a close, our focus remains firmly on securing additional OTC deals to meet our revenue target. Additionally, in line with our earlier communication, our team attended the Deutsches Eigenkapitalforum in Frankfurt, where we provided insights into the current market trends, our recent advancements, and ABX.VC product roadmap as well as demo. Additionally, we had the opportunity to engage in one-on-one discussions with potential investors.

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Remarkably, we experienced an exceptional level of attendance, highlighting the growing interest in blockchain technology and Advanced Blockchain's role in this expanding industry.

Moreover, our team is ready to participate in the upcoming Global Blockchain Congress, set to take place on December 11th and 12th in Dubai. This event will serve as an excellent platform for us to connect with strategic partners, focusing on the subject of tokenization, and to explore promising startups from the region for potential investment opportunities.

We express our heartfelt appreciation for your ongoing support and trust in Advanced Blockchain's vision. Your partnership continues to be pivotal to our shared success, and we eagerly anticipate a promising future together.

Thank you for being a part of our journey.

Best regards,

Advanced Blockchain Team