Bitcoin Prices Take Breather as BTC ETFs Record Another Day of Monster Inflows

Advertisements

Strong net flows into bitcoin exchange-traded funds indicate robust institutional demand as BTC dominance rises at the expense of ether, one trader noted.

Bitcoin (BTC) markets saw profit-taking over the past 24 hours after a strong week in which the largest cryptocurrency posted a seven-day gain of almost 8%.

BTC fell as much as 0.5% before recovering to just over $72,400 during the European morning. It rose as high as $73,200 in early Asian morning hours Wednesday. Major tokens posted losses with Solana’s SOL and BNB Chain’s BNB falling as much as 2.5% while dogecoin (DOGE) dropped 1% after several days of outperformance.

The broad-based CoinDesk 20 (CD20), a liquid index of the largest tokens by market capitalization, lost 1.3% in the past 24 hours.

A breather in the market from a wider pump earlier in the week came amid a second straight day of strong inflows for U.S. bitcoin exchange-traded funds (ETFs). The ETFs recorded over $893 million in inflows on Wednesday after taking in $879 million on Tuesday, the first back-to-back inflows of more than $850 million. Cumulative net inflows since their introduction in January now total $24 billion, according to data tracked by Farside Investors.

BlackRock’s IBIT accounted for most of Wednesday’s flows, attracting a record $872 million.

Other ETFs posted inflows under $12 million, while Bitwise’s BITB was the only product with net outflows, losing $23.9 million.

The net inflows are a sign of institutional demand as bitcoin’s dominance continues to grow, traders said.

“Strong BTC net inflows indicate robust institutional demand as BTC dominance continues to rise (59.8%) at the expense of ETH,” Augustine Fan, head of insights at DeFi platform SOFA, told CoinDesk in a Telegram message. “BTC has outperformed ETH by nearly 10% on a week-on-week basis.

“Equities are trading with a distinctive ‘Trump-win’ flavour despite official betting odds still calling for a 50–50 race. Similar positive skews can be observed in gold and crypto prices with call skews being bid up post-election as a hedge,” Fan wrote.

Skew refers to the shape of the distribution of returns for a financial asset. Positive skew in an options market context, such gold and cryptocurrency prices, indicates that there’s an increased demand for call options relative to put options. This means more investors are buying options betting on the price of the asset to go higher.

Gold Demand Declines in Vietnam

Advertisements

A report by the World Gold Council (WGC) reveals that gold demand in Vietnam has dropped significantly, likely due to soaring gold prices, which have dampened new purchases. In Q3 2024, Vietnam’s demand for gold jewelry decreased by 15% from the previous quarter and by 13% year-over-year, making Vietnam an exception in the ASEAN region, where countries like Thailand, Indonesia, and Malaysia saw double-digit growth.

Geopolitical tensions, domestic economic concerns, and anticipated gold price increases continue to drive investment interest across ASEAN. However, in Vietnam, demand for gold bars and coins fell by 33% compared to Q3 2023 and by 10% compared to 2023 overall. This trend is linked to the unprecedented surge in global gold prices, which reached an average of $2,474 per ounce in Q3, an all-time high that has contributed to a 12% decrease in global gold jewelry consumption by volume, despite a 13% increase in value.

According to Shaokai Fan, Asia-Pacific Regional Director at WGC, the high prices have heightened investment demand while potentially deterring some consumers. He suggests that price stability may be essential to sustain jewelry demand moving forward. Despite some declines in bar and coin investments, the global demand remains robust, driven largely by a “fear of missing out” mentality among investors and global instability. Senior WGC market analyst Louise Street forecasts that gold’s role as a safe-haven asset will likely keep demand high as geopolitical tensions, particularly in the Middle East and U.S., escalate.

North-South Railway Resumes Service Through Quang Tri

Advertisements

After two days of disruption due to heavy rains and storms, the North-South railway section passing through Vinh Linh, Quang Tri province, resumed operations on the afternoon of October 29.

The North-South railway, through Quang Tri province, has resolved the problem and opened for traffic on the afternoon of October 29. Photo: VNA

According to a representative from Vietnam Railways Corporation, Binh Tri Thien Railway Joint Stock Company, along with other railway units, mobilized equipment and hundreds of workers from Quang Tri, Thua Thien Hue, and Quang Binh to repair the damaged and eroded railway section through Quang Tri province.

By the afternoon of October 29, officials had mostly completed repairs between Sa Lung and Tien An stations. specifically, the first freight train withdrew from Sa Lung station at 3:33 PM to test the track. After the HH15 freight train reached Tien An station, Binh Tri Thien Railway Joint Stock Company requested that the HH10 freight train departed from Tien An station for additional inspection, after which the SE6 passenger train would be allowed to resume. By approximately 5:00 PM that same day, the North-South railway line was officially reopened. Initially, trains are limited to a speed of 5 km/h on this section.

Previously, on October 27, due to the impact of Typhoon Trami, floodwaters rose and overflowed the North-South railway line near the Sa Lung bridge in Vinh Linh district, Quang Tri province. This caused two sections of the railway, totaling more than 1.3 kilometers, to shift downstream from the original alignment by 3-3.9 meters.

During the repair period, Hanoi and Saigon Railway Joint Stock Companies arranged for the transfer of 4,574 passengers across 17 trains and provided free meals and beverages for passengers affected by delays.

@Thesaigontimes

Long An Plans to Host ‘Vam River Aspiration’ Event in December

Advertisements

“Vam River Aspiration” will be the theme of the second Long An Provincial Culture, Sports, and Tourism Week of 2024, organized by the People’s Committee of Long An Province. The event is expected to take place from November 28 to December 4, as reported by the Long An Provincial Information Portal.

This year’s Culture, Sports, and Tourism Week is intended to attract investment and stimulate tourism development, while also preserving and promoting historical, cultural, natural, and other human resources.

Illustration: Ngoc Khuyen

The event will feature activities such as conferences on tourism linkage, cooperation, and promotion of OCOP products between Ho Chi Minh City and the 13 provinces of the Mekong Delta region, as well as a trade, culinary, and tourism fair promoting Long An and Korea in 2024.

There will also be tours, experiences, and exchanges at prominent local tourism destinations such as Phuoc Loc Tho Ancient Village, Tan Lap Floating Ecotourism Village, and the Endless Field – Dong Thap Muoi Medicinal Herbs Tourist Area.

According to the Long An Provincial Information Portal, the event aims to seek partners, attract investment, and promote tourism trade with international organizations and businesses, thus elevating Long An’s profile on the global tourism map.

@SGtiepthi

International Searches for Vietnam Tourism Information on the Rise

Advertisements

Data from the digital travel platform Agoda shows a continuous increase in international travelers searching for information about tourist destinations in Vietnam over the past three months — July, August, and September.

Notably, in September, as many travelers began planning for the upcoming Christmas and New Year holidays, search volume surged by 84% compared to the same period last year.

International visitors in Thua Thien Hue. Photo: Hoang Hai

Specifically, search interest increased by 4% in July, 31% in August, and 84% in September year-on-year.

Another highlight from Agoda’s data is the rise in bookings from August to October 2024 for destinations in northern Vietnam, including Hanoi, Sa Pa, Ha Giang, Ha Long Bay, Hai Phong, and Cat Ba. These bookings grew by 4% compared to the same period in 2023. The data, collected from August 1-7 and October 1-7, corresponds to the periods before and after Typhoon Yagi.

This reflects the steady interest from travelers in northern Vietnam’s key tourist areas despite the damage caused by Typhoon Yagi on September 7.

“Agoda believes travelers will gradually return to these destinations as post-typhoon cleanup completes,” stated Vu Ngoc Lam, Country Director of Agoda Vietnam, in a press release.

Agoda also reports that the number of international visitors to Vietnam in the first nine months of the year increased by 43% compared to the same period in 2023, although no specific figures were provided.

Meanwhile, data from the General Statistics Office indicates that Vietnam welcomed 12.7 million international visitors in the first nine months of this year, a 43% increase compared to last year. The number of international arrivals in the first nine months has surpassed the total visitor count for all of 2023.

@SGtiepthi

Binh Dinh Proposes Pilot Project for Aerial Taxis to Boost Tourism

Advertisements

Binh Dinh’s leadership sees aerial taxis as a unique, modern, and innovative form of transportation that can effectively stimulate tourism demand.

On October 30, Binh Dinh Province’s People’s Committee announced that it had submitted a formal proposal to the Ministry of Transport, requesting a report to the Prime Minister for approval to develop a pilot project for aerial taxi operations within the province.

Quy Nhon City seen from above

In the submission, Binh Dinh stated that aerial taxis offer considerable potential, aligning well with the province’s tourism development goals. This initiative aims to establish Binh Dinh as a premier regional destination while realizing comprehensive, rapid, and sustainable tourism growth in line with the Prime Minister’s guidance and the province’s planning strategy for 2021–2030, with a vision towards 2050.

Aerial taxis are small, electrically powered aircraft capable of vertical take-off and landing, designed to transport around 4–5 passengers. This is a novel in the form of transportation; Globally, several countries like China, the U.S., Germany, the U.K., Singapore, and South Korea have explored and tested passenger aerial taxis, although Vietnam has yet to introduce this mode of travel.

Quy Nhon City seen from Hai Minh peninsula

The Binh Dinh People’s Committee believes that aerial taxis represent an innovative, eco-friendly, and modern form of transport that could significantly drive tourism demand. This method of travel provides easy mobility, saves time, offers competitive pricing, and has lower emissions compared to traditional road and rail transport.

Binh Dinh boasts many famous beaches, such as Quy Nhon, Hai Giang, Trung Luong, and Cat Hai, as well as several offshore islands, including Nhon Chau, Hon Kho, and Yen Island. Aerial taxis could be an ideal mode of transport for tourists to experience and appreciate Binh Dinh’s stunning, pristine landscapes from above.

@Thanhnien.vn

Five Airports to Implement Cashless Toll Collection from November

Advertisements

The Airports Corporation of Vietnam (ACV) will officially implement cashless toll collection at five airports—Tan Son Nhat, Noi Bai, Da Nang, Cat Bi, and Phu Bai—starting in November.

ACV will officially collect non-stop fees at 5 airports from November. Photo: TIA.

During a recent review conference of ACV’s performance over the first 10 months of the year, the ACV leadership reported that passenger and cargo throughput at airports under its management has continued to grow steadily. Domestic market figures show a slight decrease, while the international market experienced solid growth.

Specifically, over the past 10 months, aircraft movements across ACV-managed airports totaled over 555,000, reaching 79% of the annual target but showing an 8% decrease compared to the same period in 2023.

International flights extracted for nearly 213,000 takeoffs and landings, a 19% increase year-on-year, while domestic flights dropped by 19%, totaling nearly 343,000 movements.

Total passenger volume exceeded 91.4 million, achieving 80% of the yearly target and a 5% decrease compared to the same period in 2023. International passenger volume reached nearly 34 million, marking a 28% increase, while domestic passenger volume dropped by 17% to over 57.6 million.

Notably, ACV announced that the equipment installation and testing for cashless toll collection at Tan Son Nhat, Noi Bai, Da Nang, Cat Bi, and Phu Bai airports have been completed, and the system is expected to go live from early November. Additionally, ACV is making progress on network infrastructure projects at 21 airports to facilitate online check-in for domestic airlines.

Concerning major projects, ACV’s leadership confirmed their commitment to fulfill the directives from the Prime Minister, Deputy Prime Ministers, and the State Capital Management Committee on ensuring the timely delivery of key infrastructure projects.

These include the construction of Terminal T3 at Tan Son Nhat Airport, the first phase of Long Thanh Airport, and the expansion of Terminal T2 at Noi Bai Airport, all of which meet the required standards for schedule, quality, and on-site safety. Certain tasks have even surpassed the contracted schedule, with bidding and contractor selection conducted transparently in accordance with legal regulations.

Looking forward, ACV plans to expand Ca Mau Airport to accommodate A320, A321, and similar aircraft types. The expansion will include a new runway, connecting taxiways, and an upgraded terminal with a capacity of 500,000 passengers per year (with potential scalability up to 1 million passengers per year).

ACV also aims to implement additional support infrastructure, including roads connecting the new aircraft apron to the terminal, parking facilities, a fire station, security fencing, and a ring road system. The project has an estimated investment of around VND 2,400 billion and an 18-month timeline upon receiving government approval for land use.

@Znews

Indian National Caught Smuggling 700 Diamonds at Tan Son Nhat Airport

Advertisements

On October 29, the city’s Economic Crime Division (PC03) announced it was collecting evidence and further investigating suspected illegal diamond trafficking at Tan Son Nhat International Airport. At around 9 a.m. on October 23, PC03, in coordination with Tan Son Nhat Customs and Tan Binh District Police, inspected and detained Mr. P.S.H., an Indian citizen, upon his arrival from India, after uncovering his smuggling operation.

Indian man illegally transporting diamonds at the investigation agency – Photo: Provided by the police

During questioning, Mr. P.S.H. confessed to the smuggling attempt, confirming that he intended to sell the diamonds to Vietnamese buyers in Ho Chi Minh City for profit. Initial checks revealed that the 700 diamonds included both natural and synthetic stones, with an estimated worth in the tens of billions of VND.

Based on the evidence, Ho Chi Minh City Police are treating the case as a violation of Article 189 of Vietnam’s Penal Code, which prohibits “illegal transportation of goods across borders.” The investigation is ongoing as police gather further evidence, aiming to identify and prosecute all parties involved.

Review: The Logitech POP ICON KEYS Event shines in Ho Chi Minh City

Advertisements

On October 23, the Logitech POP ICON KEYS event was a celebration of the ideal combination of technology and lifestyle. The new product created to encourage self-expression via innovative and lifestyle design, attracted the most excitement.

The event was themed “4,” with four major influencers representing different colors and four workstations demonstrating the versatility of the POP ICON KEYS. Each workspace encouraged attendees by illustrating how these products might be easily integrated into various elements of daily life, such as working from a coffee shop, an office, at home, or on the go.

Technology Meets Fashions: A Celebration of Self-Expression at the Logitech POP Icon Keys

Henri Hubert, the creative director behind the event, played a crucial role in shaping this vision. With over 40 years of experience in luxury and fashion, Henri Hubert’s heritage provided a distinct viewpoint to the collaboration with Logitech. He said, “Technology is a new way to express style and personality.” We wanted to build an emotionally engaging experience that would allow individuals to connect with their tools in a meaningful way.” His viewpoint underlines the need of combining design color with personal expression.

The immersive atmosphere was enhanced by lifestyle performances and interactive displays, inviting guests, both in-person and online, to engage with the products in a hands-on manner. Attendees explored how the POP ICON KEYS not only serve functional purposes but also reflect individual style and personality. This focus on personal expression through technology highlighted Logitech’s commitment to making everyday tools more than just gadgets, they become extensions of our identities.

The lifestyle business of Logitech places the POP ICON KEYS at the crossroads of technology and lifestyle, which is especially important in today’s consumer landscape. Henri pointed out: “The lines between luxury, fashion, and tech are increasingly blurred.” This idea is reflected in the POP ICON KEYS’ brilliant colors and sophisticated designs, which allow users to infuse their workplaces with creativity and style, transforming technology into a fundamental component of their lifestyle.

The event additionally inspired key talks about sustainability, reflecting the growing consumer desire for responsible choices. By demonstrating how the POP ICON KEYS can contribute to a trendy yet mindful lifestyle, Logitech reinforces its position as a forward-thinking brand that values the environment and its impact.

Lifestyle Reimagined through Strategic Partnerships. Shaping the Logitech Experience

As October is Logitech’s Month of Heritage, the Pop Icon Keys event acted as a vibrant bridge between the new milestone of Logitech lifestyle products and the brands in the Vietnamese market. This celebration witnessed a wide range of support from many brands and corporate partners from various industries, including… This demonstrated how the brand influences the market while also expressing how the company values the local culture of friendship and companionship. Logitech enhances their brand narrative, ensuring that it resonates with local audiences while simultaneously appealing to a worldwide market. The collaboration with Cara Club illustrates how appreciating Vietnamese artists and young people may inspire self-expression while all at once collaborating with Clinique, a top cosmetics company.

Logitech’s Pop Icon Keys collaboration with Cara Club and Clinique showcases how thoughtful design enables individuals to express their unique identities. This strategic partnership merges technology, art, and beauty, positioning both brands at the intersection of lifestyle and productivity. By teaming up with Cara Club, renowned for its vibrant and playful aesthetics, Logitech creates a distinctive product that resonates with a younger, creative audience eager to showcase their individuality. Clinique enhances this collaboration by infusing its signature colors and concepts, reinforcing the notion that personal style extends beyond skincare and beauty into the realm of technology.

This partnership aims not only to attract consumers seeking stylish accessories but also to emphasize the importance of self-expression in both work and leisure environments. By integrating Clinique’s ethos of beauty and self-care, the Pop Icon Keys transcend their role as mere functional tools; they embody a lifestyle choice that promotes creativity and well-being. The combination of bold graphics from Cara Club and Clinique’s harmonious color palette results in a cohesive and chic design that elevates any workspace.

Innovating Tomorrow: Logitech’s Vision for Sustainable Style and Identity.

The POP ICON KEYS event successfully celebrated the synergy of technology and fashion, illustrating how they can enhance self-expression and lifestyle. Logitech demonstrated its understanding of modern consumer needs by placing the products at the center of the experience and drawing inspiration from Henri Hubert’s legacy. This approach shows that technology can be sophisticated, functional, and essential to our daily lives. Ultimately, the Pop Icon Keys not only enhance workspaces but also encourage individuals to express their personalities through innovative design. Looking ahead, Logitech is paving the way for a future where technology and personal expression are seamlessly integrated.

POP Icon Keys’ the start gained enthusiastic support not only from technology firms, but also from several cosmetics and fashion companies, thanks to the product’s qualities of style, technology, and sustainability. Gaw NP Capital and Lim Tower warmly funded the event site after being impressed with the program’s concept.

Henri said: “When searching for this event’s venue, we wanted to inspire newcomers to start with a POP.” He agreed with Logitech on the importance of sticking to a “Day 1” mindset, approaching everything with the excitement and passion of embarking on a new adventure. Furthermore, he pointed out the breathtaking view of the Thu Thiem 2 Bridge in the evening, which illustrates a bright future. This location represents the start of our POP adventure during Logitech’s heritage month, celebrating innovation and creativity.

As BIS Mulls Shutting Down mBridge, Its Innovation Hub Calls The Project a ‘Public Good’

Advertisements

Putin’s interest in an alternative international payments system has focused attention on mBridge.

The future of the Swiss-based Bank for International Settlements’ (BIS) involvement in mBridge was cast into doubt on Oct 28. following a report from Bloomberg that top bank officials and financial executives discussed the possibility of shutting mBridge down during a meeting in Washington.

The discussions, which took place last week, stemmed from concerns about comments made by Russian president Vladimir Putin during the opening of the BRICS Summit in Kazan, where he floated the idea of an alternative BRICS-led international payments system. Though Putin’s comments garnered a lukewarm response from fellow BRICS members, it has focused attention on projects like mBridge which are seeking to build alternatives to SWIFT.

Run by the central banks of China, Thailand, the UAE and Hong Kong — with Saudi Arabia joining this year as a new member — and backed by the BIS Innovation Hub, mBridge is a cross-border payments system that aims to make transferring money internationally quicker and cheaper.

It removes the need for correspondent banks, which act as intermediaries for payments between banks in different countries that don’t have formal relationships.

In June this year, it reached its minimum viable product (MVP) stage, with participating banks deploying consensus nodes and commercial banks conducting transactions. The platform currently supports key functions for participants including CBDC issuance and redemption, FX payment versus payment (PVP), CBDC transfers, queue management and balance alerts, and information management systems.

As of October 2024, the project had 32 observing members, including the Reserve Bank of Australia, the Bank of Korea FATF and the Banque Central du Luxembourg, according to the BIS Innovation Hub.

A total of 39 commercial banks from China, Thailand, the UAE, Hong Kong and Saudi Arabia are also participating in its MVP stage. Between April and September 2024, the platform facilitated payments and transactions in four CBDCs (e-CNY, e-THB, e-AED and e-HKD), with transactions conducted by 35 commercial banks.

To its proponents, mBridge is a potential solution for the major pain points that have long plagued traditional banking, particularly for underserved regions. It can allow countries to settle payments in their own currency instead of the more commonly used U.S. dollar and make transactions much quicker using distributed ledger technology.

Speaking at Hong Kong Fintech Week, Li Shu-Pui, Advisor to H.E. The Governor at the Central Bank of the U.A.E., said that in a test in February they sent money from a bank in Abu Dhabi to one in Beijing in just ten seconds.

“Middle Eastern, Central Asian, African countries and even South American countries are underserved [by traditional banking] because the correspondent banking network does not cover so many of these countries. Many of these countries are not served adequately so they’re very excited about how they [can] make use of mBridge” he said.

BIS’s own literature available through its BIS Innovation Hub stand at Hong Kong Fintech Week calls mBridge “a public good” and claims it can “help foster financial inclusion”.

Countries like China have been taking steps to push for greater dedollarization of the global economy and the settlement of international payments in different currencies. During the BRICS summit, Putin claimed that nearly 95% of Russia-China trade is done in local currency.

But mBridge’s detractors are worried about the geopolitical risk the project poses. Policymakers in the U.S. and Europe have warned against having an international financial system underpinned by China-developed technology, as well as the risk of reduced ability to enforce U.S. and European economic sanctions.

In 2022, Yaya J. Fanusie, currently the Director of Policy for AML & Cyber Risk at the Crypto Council for Innovation, said that the announcement of the mBridge project should serve as a wakeup call to U.S. policymakers who wanted to maintain U.S. influence on the financial system. “[mBridge] likely will be built upon not only by nations seeking more efficient payment infrastructure, as all central banks should, but also by U.S. adversaries strategizing for ways around U.S. geopolitical influence, like China,” he wrote.

The BIS did not respond to a request for comment and staff on the ground at Hong Kong Fintech Week said they could not discuss the matter.

DeFi Cover Provider Nexus Mutual Backs New Crypto Insurance Broker Native

Advertisements

Nexus Mutual is also behind a new insurance alternative on Coinbase’s L2 network called Base DeFi Pass.

Nexus Mutual, the decentralized alternative to traditional insurance geared towards risks involving digital assets, is widening its distribution capabilities by backing a dedicated crypto insurance broker called Native.

Native goes live with $2.6 million of seed funding led by Nexus Mutual, and the two firms are offering $20 million on-chain cover per risk, according to a press release on Tuesday. Nexus Mutual currently has a capital pool of about $200 million, mostly denominated in ETH, the token of the Ethereum blockchain, meaning the mutual will be able to write multiple coverage lines per risk from day one, Nexus Mutual said.

There has always been a dire shortage of insurance capacity within the crypto industry. At a rough estimate, about 1% of crypto assets are insured today, compared with the traditional world where a general rule of thumb is that about 7% of GDP is insured.

“Native’s role is to help solve this chronic under insurance problem,” said Native co-founder and CEO Ben Davies in an interview. “No industry can grow without a liquid insurance market and so we have built a commercial insurance broker on-chain, which is what the market has really been missing.”

The aim is to increase capacity by connecting businesses with Nexus’s capital pools, while giving clients the ability to pay in crypto, or be paid in crypto if there is a claim, said the broker’s other co-founder Dan Ross. In addition, Native will go beyond mere distribution by running a capital pool on Nexus, he said. It means the firm will also be involved in underwriting in the form of a managing general agent (MGA) positioned on top of Nexus Mutual.

Since starting out in 2019, Nexus Mutual has underwritten about $5 billion of crypto assets and paid out $18 million in claims. This has involved various risks associated with decentralized finance (DeFi), for instance, that conventional insurers might struggle to meet.

The protocol also allows its members to deploy assets into syndicates, in a way similar to how the Lloyd’s of London market operates, for which they receive NXM tokens. These tokens are then used to back certain risks. Like being a Lloyd’s investor, or “Name,” there is a risk attached to this, but yields can reach around 25%, according to Nexus Mutual founder Hugh Karp.

“We understand crypto native risks better than anyone else and we’ve got a large amount of capacity that’s specifically looking to deploy into crypto risks and crypto businesses,” Karp said in an interview. “We aren’t like some big insurance company that’s trialing this as a proof of concept for a few years and then it disappears.”

Base DeFi Pass

Nexus Mutual’s insurance alternative is also available to users of many of the main protocols on Coinbase’s layer 2 network, Base, via a recently launched product called Base DeFi Pass, created by crypto insurance startup OpenCover.

Base DeFi Pass covers a clutch of high profile protocols on Base including the likes of Uniswap, Compound and Morpho, and is designed to be a “set and forget” option where one set of cover is all that’s needed across a range of applications, according to OpenCover CEO Jeremiah Smith.

The type of risks covered include smart contract code bugs, exploits and hacks, while things like phishing attacks are excluded, as are losses related to market price movements of assets used or relied upon by the covered protocol.

“Base Pass is another innovation being catalyzed by Nexus Mutual,” Smith said in an interview. “You purchase one lot of cover and you’re covered on most of the leading protocols on Base, rather than having to come to Nexus and OpenCover each time and have to rebalance everything.”

In order to bring lots of people on-chain, Base needs to make those users feel confident about interacting with DeFi, said Base creator Jesse Pollak.

“OpenCover’s Base DeFi pass adds an extra safety net, so people can feel more secure and protected when they participate in the open DeFi ecosystem on Base,” Pollak said via email.

Vietnam’s Impressive Tourism Recovery After Typhoon Yagi

Advertisements

Vietnam’s tourism sector is showing positive signs, with a notable increase in international interest over the past three months.

Photo: vtv.vn

According to a report by Agoda, travelers’ interest in key Northern regions of Vietnam has remained strong despite the damage caused by Typhoon Yagi. Data on the platform reveals that room bookings from August to October 2024 at popular destinations such as Hanoi, Sapa, Ha Giang, Ha Long Bay, Hai Phong, and Cat Ba increased by 4% compared to the same period in 2023, reflecting stable interest in these locations.

Additionally, Vietnam’s tourism is experiencing significant growth in international searches in recent months. In July, search interest rose by 4% compared to the same period last year. August saw a substantial 31% growth in tourist interest, and in September, there was an impressive surge, with searches jumping by 84% year-over-year, as international tourists look ahead to Christmas and New Year holiday plans.

A report from the General Statistics Office shows that international arrivals in Vietnam in the first nine months of 2024 rose by 43% compared to the same period in 2023. With 12.7 million international visitors, this number has already surpassed the total international arrivals for all of 2023.

@vtv.vn

Vung Tau Offers Deep Discounts to Attract Tourists in Low Season

Advertisements

Several tourism businesses in Ba Ria – Vung Tau are offering service discounts of 10-65% to attract tourists at the end of the year.

International tourists “hunt” for sunset in Vung Tau. Photo: Linh Huynh.

According to the Ba Ria – Vung Tau Department of Tourism on October 25, 34 businesses and accommodation providers will reduce prices by 10-65% for visitors using their services until December 31.

This initiative is part of Ba Ria – Vung Tau’s tourism stimulus program for Q4. Among the 34 participating entities are several five-star hotels in Vung Tau, Phuoc Hai (Dat Do), Ho Tram, Ho Coc, Binh Chau (Xuyen Moc), and Con Dao.

Trinh Hang, Director of the Ba Ria – Vung Tau Department of Tourism, said that alongside the stimulus package, several cultural and artistic events are scheduled, such as a cultural exchange between Vung Tau and Gunsan City (South Korea), the Mister World contest , and celebrations for the 80th anniversary of the founding of the Vietnam People’s Army and the 35th anniversary of National Defense Day.

Notably, the 2024 Ba Ria – Vung Tau Tourism Week will take place in mid-December in Xuyen Moc, featuring photo spots, hot air balloons, local cuisine, OCOP products, as well as sports events including running, golf, and pickleball.

In the first nine months of 2024, Ba Ria – Vung Tau received approximately 13.2 million visitors, reaching nearly 85% of the year’s target and representing an increase of almost 21% compared to the same period last year. Total tourism revenue is estimated at around VND 14.1 trillion, achieving nearly 86% of the annual target, up 23.09% year-on-year.

@Znews

Ho Chi Minh City to Host Second Ngo Boat Race Festival in November

Advertisements

According to the People’s Committee of District 3, the Second District 3 Expanded Ngo Boat Race Festival of 2024 will be held on November 10 along the Nhieu Loc – Thi Nghe Canal. The event will feature 12 teams from District 3 and various southern provinces.

Following the success of the first Ngo Boat Race Festival in 2023, the District 3 People’s Committee is organizing this year’s festival to commemorate the 94th anniversary of the founding of the Vietnam Fatherland Front (November 18, 1930 – November 18, 2024), National Unity Day, Vietnamese Cultural Heritage Day on November 23, the 50th anniversary of the liberation of South Vietnam and national reunification (April 30, 1975 – April 30, 2025), and to celebrate the Ok Om Bok Festival.

The first Ngo boat racing festival in 2023 on Nhieu Loc – Thi Nghe canal. Photo: Le Vu

This year’s event, themed “The Country’s Complete Joy,” is expected to take place from 6:00 a.m. to 12:00 p.m. on November 10 along Nhieu Loc – Thi Nghe Canal (from Cong Ly Bridge to Le Van Sy Bridge in District 3) with 12 competing teams. Participants include students and workers from Ho Chi Minh City and surrounding southern provinces such as Binh Duong, Can Tho, Kien Giang, and Soc Trang.

In addition to the thrilling boat races, the event will feature artistic performances with famous singers, celebrating songs celebrating the homeland and Khmer ethnic folk songs. Cultural exchange programs will also highlight ethnic cuisine, offering traditional dishes such as bun nuoc leo, com dep, bun ca, Nam Vang hu tieu, xoi khuc, dim sum, and bat buu soup, reflecting the diverse culinary heritage of ethnic origins in Ho Chi Minh City. Chi Minh City.

@SGtiepthi

Hue Opens Cruise Passenger Support Center at Chan May Port

Advertisements

The Information and Support Center for visitors at Chan May Port has officially opened to introduce and promote tourism in Thua Thien Hue and assist cruise passengers visiting the area.

The tourist information and support center at Chan May port area was put into operation to introduce and promote Thua Thien Hue tourism and support tourists coming to this locality by ship. Photo: Hoang Hai

Recently, Thua Thien Hue’s Department of Tourism, in collaboration with Chan May Port JSC, held an inauguration ceremony to launch the Information and Support Center for tourists at Chan May Port.

The center will provide visitors with leaflets, tourism brochures, travel maps, guidebooks, and other relevant local tourism information. Additionally, it will offer advice to enhance visitors’ experiences while exploring Hue.

The center will also showcase local specialties, souvenirs, handicrafts, and unique Hue products to promote the culture and image of Hue to cruise passengers. It will arrange booking services for tours, transport, restaurants, hotels, and other requested services.

Moreover, the center will support cruise passengers with emergency assistance, such as handling lost personal documents or belongings and dealing with negative issues like overcharging or theft during onshore visits.

The first cruise ship tourists visit and seek information at the Tourist Information and Support Center at Chan May Port. Photo: Hoang Hai

On this occasion, Thua Thien Hue’s Department of Tourism and Chan May Port JSC also welcomed passengers aboard the Celebrity Millennium, a Royal Caribbean cruise ship registered in Malta. The ship, carrying 2,150 passengers and 958 crew members, docked at Chan May Port at 6:00 a.m. on October 25, 2024. These were the first cruise passengers to visit the Information and Support Center at Chan May Port.

According to Chan May Port JSC, in 2024, Chan May Port has received 41 cruise ships, with over 90,000 passengers and crew members visiting Thua Thien Hue. In 2025, 42 cruise ships have already registered to dock, bringing nearly 80,000 passengers and crew to Chan May Port.

@SGtiepthi

Exit mobile version