U.S. Retail Sales MoM in June

The United Arab Emirates Ministry of Climate Change and Environment (MOCCAE) will launch a national carbon credit system that leverages blockchain technology, the Emirates News Agency (WAM), the UAE's official news organization, reported Aug. 7. According to the report, a memorandum of understanding was signed between an official from the ministry and government solutions provider Industrial Innovation Group (IIG) and Abu Dhabi blockchain platform Venom Foundation to create the new climate action solution. According to what was mentioned, the cooperation aims to reduce emissions and promote sustainable agriculture, environmental health and biodiversity in the UAE, which will be achieved by managing the issuance, transfer, calculation and facilitation of accurate tracking of carbon credits and their digitization process.

The TON Foundation has responded to criticism regarding the UAE's "Golden Visa" program and is urgently seeking a marketing VP. After the government clarified that cryptocurrency investors are not included, the price of TON plummeted.

The UAE government has clarified that cryptocurrency investors, particularly concerning the TON staking program, are not eligible for the Golden Visa. Official statements specify that only certain categories, such as real estate investors and entrepreneurs, qualify for the visa.

Today (7) in the Asian early market, Toncoin (TON) continued its weekend pump, currently reporting at $2.83 maintaining its strength. TON announced a significant initiative to launch a blockchain-based residency program in the United Arab Emirates (UAE), following which its coin price soared dramatically. This initiative not only solidifies TON's position in the crypto assets market but also opens new opportunities for investors seeking long-term visas in the UAE.

In the blockchain field, Aptos has always attracted attention for its advanced technology. However, despite having the innovative Move language and the efficient BlockSTM parallel processing technology, Aptos seems to have not fully won the favor of the market. Currently, Aptos is facing an awkward situation. Although its technical strength is beyond doubt, the activity level of its ecosystem has failed to keep pace. The Total Value Locked (TVL) is only $970 million, far below the level that its technical potential should reach. In addition, there are controversies within the community regarding its token distribution plan, which further hinders its development. Looking back at history, we can see that Solana was also heavily questioned in its early days due to technical instability. However, with the vigorous development of its ecosystem, these early difficulties were soon forgotten. This case may provide some insights for Aptos. Recently, Aptos has indeed been very active on the technical level. However, relying solely on technological innovation is not enough. Over-marketing of transaction processing speed (TPS), a controversial token allocation plan (with a disproportionately high share for the team and investors), and a lack of killer applications are all challenges faced by Aptos. The key question now is: if the ecosystem itself is not attractive enough, can simply lowering staking rewards attract users to participate in DeFi activities? This is like a poorly run restaurant that does not improve the quality of its dishes or change chefs, but instead cancels free tea to force customers to order drinks, which is obviously an upside-down approach. For Aptos, the priority is not to continue to delve into technological innovation, but to create a narrative that can trigger ordinary users' fear of missing out (FOMO). No matter how secure the Move language is or how powerful BlockSTM is, if users cannot truly feel these advantages, then these technological innovations will be difficult to convert into actual value. Overall, Aptos needs to reassess its development strategy. While technological innovation is certainly important, how to translate these innovations into user value and how to build a thriving ecosystem are the keys to whether Aptos can stand out in the fierce Blockchain competition.