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Solana’s Natix and Grab Team Up to Expand DePIN Mapping Into US, Europe

NATIX, a decentralized physical infrastructure network (DePIN) focused on mapping data on Solana, shared Tuesday that it is teaming up with taxi service Grab to provide more accurate mapping technologies.
Grab, which is known for its taxi services in southeast Asia but also crowdsources mapping data for its technological mapping arm, will be using its collaboration with NATIX to expand its footprint into the U.S. and Europe.
The partnership consists of the NATIX team using Grab’s hardware and software technologies for mapmaking. “We take care of the data collection side, and we essentially monetize this together,” said Alireza Ghods, the co-founder of NATIX to CoinDesk in an interview. “They’re buying the data that we generate to build their pipeline for the U.S. and for Europe. And on the other side, they’re giving us both their hardware technology as well as the AI technology that basically analyzes the images to build maps and map services like navigation.”
“We’re starting in the markets of the EU and US, where [Grab] is not present. So this is us combined with Grab, going for global expansion,” Ghods added.
DePIN is a blockchain-based system that crowdsources real-world infrastructure, like data collection, and verifies them through decentralized technologies. DePIN projects often appear in the Solana ecosystem thanks to the blockchain’s fast transaction speeds and low transaction costs.
NATIX is a project within Solana’s DePIN ecosystem that enables users to contribute street data and mapping visuals via smartphones. The crowdsourced data is then used to build decentralized maps, which can be leveraged by AI models, especially for autonomous driving and smart city applications. Users are also rewarded NATIX’s native token, $NATIX, for their contributions as a way to incentivize them to participate in the network.
“The reason that we actually did the collaboration is due to the power of DePIN combined with a very well established enterprise grade technology, » said Ghods. “I think it’s one of the few sectors in crypto that really, really makes sense.”
Read more: DePIN 2.0: What the Next Generation of DePINs Is Doing Differently
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21Shares Launches ETP Linked to Crypto.com’s Cronos

Crypto asset manager 21Shares has launched a new exchange-traded product (ETP) offering investors regulated exposure to the native token of Cronos, a Layer 1 network developed by Crypto.com, for Web3 applications.
The 21Shares Cronos ETP, which trades under the ticker CRON, is listed on Euronext Paris and Euronext Amsterdam. It carries a 2.5% annual fee and provides exposure to CRO.
The product allows investors to add CRO exposure to their portfolios through brokers and banks, without handling crypto wallets or exchanges.
This is the latest addition to the Zurich-based firm’s growing list of crypto-linked ETPs, which already cover various cryptocurrencies. The Swiss asset manager has also been moving to expand its offering in the U.S. with a recent S-1 registration form for a SUI ETF.
The price of CRO is down around 1.4% for the day, in line with a broader cryptocurrency market movement.
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CoinDesk 20 Performance Update: Index Drops 2.2% as All Assets Trade Lower

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.
The CoinDesk 20 is currently trading at 2654.32, down 2.2% (-60.12) since 4 p.m. ET on Monday.
None of the 20 assets are trading higher.
Leaders: BCH (-0.3%) and BTC (-0.8%).
Laggards: SUI (-7.7%) and AAVE (-7.5%).
The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.
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Bitcoin Mining Rig Maker Canaan Could Have 5X Upside, Says Wall Street Analyst

Singapore-based developer of bitcoin mining ASIC chips and rigs Canaan (CAN) has had a rough run, but could be a five-bagger, suggests Benchmark analyst Mark Palmer.
Palmer on Tuesday initiated coverage of the ADRs with a buy rating and a $3 price target. The shares closed yesterday at $0.62, lower by 72% year-to-date.
Canaan’s dual strategy is focused on the development of ASIC bitcoin chips and rigs, and the expansion of its self-mining operations, especially in the United States, said Palmer.
«CAN’s vertically integrated approach differentiates it within the bitcoin mining space while positioning it to capitalize on both chip/rig sales and proprietary mining revenues,» he wrote.
Canaan’s push into home mining rigs has diversified the company’s revenue, he further noted.
The equipment maker is also growing its self-mining capacity in the U.S. and globally.
«While the company derived just 16.3% of its 2024 revenues from its self-mining operations, it intends to increase the total computer power driving its self-mining operations by mid-2025 to 10 EH/s in North America and 15 EH/s globally,» Palmer added.
Canaan has a stack of 1,408 bitcoin with a current value of around $133 million, or nearly 70% of its current market cap, said Palmer. That should be supportive of the company’s valuation.
Read more: Bitcoin Miners With HPC Exposure Underperformed BTC for Third Straight Month: JPMorgan
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