Alibaba supports a new project in Ethereum — while the market capitalization surpasses 91% 🇨🇳🇰🇷
Report from Cointelegraph Asia Express reveals: A company in Jack Ma's network, founder of Alibaba Group, has joined to support a new project in the Ethereum ecosystem, which is considered another significant step for Chinese capital in the Web3 sector.
The report also states that "whales" from South Korea control up to 91% of the market share of projects based on Ethereum in Asia, which shows the strong concentration of investment in digital assets that remain solid in this region.
From the latest data table of Cointelegraph:
The company that holds the highest value ETH is:
1️⃣ Bitmine Immersion Tech (BMNR) — 2.83 million ETH valued at 12.28 thousand dollars
2️⃣ SharpLink Gaming (SBET) — 838 thousand ETH valued at 3.64 thousand dollars
3️⃣ The Ether Machine (ETHR) — 124 thousand ETH valued at 522 million dollars
📊 When looking overall, it will be seen that “institutional investment” in Asia, especially China and Southeast Asia, is increasingly active in the positive aspects of the Ethereum ecosystem.
💬 Insights from experts (guru):
The level of funding from Alibaba starts entering the project in $ETH not only as a sign of “confidence” but may also be a starting point for “the rise of Asian influence in the Web3 world,” which will impact both the DeFi market and the NFT ecosystem in the long term.
#Ethereum #AlibabaPartnership #CryptoNews #Web3 #BlockchainAsia