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Asia Pacific is leading the charge in the rapidly growing Web3 gaming sector, with regional gaming companies pushing for the global adoption of blockchain-based games. The Web3 gaming sector is growing fast, accounting for half of the entire blockchain industry in terms of on-chain activity. Asia Pacific is leading the trend, with China alone having over 700 million players ready to adopt blockchain-based games. Asia has the potential to become the driving force behind the global adoption of Web3 games in the coming years. Today, almost two-thirds of the largest gaming companies in the world are from China, Japan and South Korea. Source: Xangle Asia Pacific’s dominance is already spreading across Web3 gaming, with Animoca Brands and Sky Mavis — the developers of The Sandbox and Axie Infinity — being leading players of this emerging trend. Asian companies heading overseas Many Asian companies are exploring overseas markets to stimulate the global adoption of Web3 gaming. One of them is...

Top traders' long-to-short ratio and stronger demand for stablecoins in Asia indicate higher odds of further price correction. Bitcoin (BTC) broke below $16,800 on Dec. 16, reaching its lowest level in more than two weeks. More importantly, the movement was a complete turnaround from the momentary excitement that had led to the $18,370 peak on Dec. 14. Curiously, Bitcoin dropped 3.8% in seven days, compared to the S&P 500 Index's 3.5% decline in the same period. So from one side, Bitcoin bulls have some comfort in knowing that correlation played a key role; at the same time, however, it got $206 million of BTC futures contracts liquidated on Dec. 15. Some troublesome economic data from the auto loan industry has made investors uncomfortable as the rate of defaults from the lowest-income consumers now exceeds 2019 levels. Concerns emerged after the average monthly payment for a new car reached $718, a 26% increase in three years. Furthermore, alongside the Bank of England, ...