Blockchain analytics firm Chainalysis has been appointed as a key council member of the Digital Asset Lab (DAL), which focuses on the United Arab Emirates (UAE), and according to a statement, Chainalysis will provide Blockchain analysis and compliance expertise to the Digital Asset Lab. The Middle East and North Africa (MENA) banking group, Emirates NBD, launched the lab in May 2023. The Lab's founding board members include PricewaterhouseCoopers, Fireblock, and R3. As stated in the announcement, Emirates National Bank will leverage Chainalysis' analytical and investigative capabilities to understand market trends and customer needs.

Tezos (XTZ) Loses Momentum in Q2, Market Cap Drops 30% After SEC Crackdown According to a recent report by cryptocurrency research firm Messari, Tezos’ roadmap development has been progressing, with several new features and upgrades introduced to the network. In addition, Tezos core developers have introduced the Data Availability Layer (DAL), which runs in parallel with Tezos Layer-1, ensuring data availability while scaling bandwidth and storage capacity. To further support the growth of the Tezos ecosystem, the XTZ Ecosystem DAO was introduced to manage and distribute XTZ (Tezos' native token) to support community initiatives. However, despite a strong performance in Q1 2023, with market cap surging from $660m to $1.03bn (+55%), outperforming the broader market by 9%, the platform fell 30% sequentially in Q2, ending the quarter with a market cap to $720 million. Additionally, total cryptocurrency market capitalization rose 2% in the second quarter, driven by bitcoin and ethereum, which each gained 7% on the back of the launch of a bitcoin spot exchange-traded fund (ETF) and 6%. On the other hand, Tezos revenue, measured by total gas fees spent (excluding storage costs), fell 82% quarter-over-quarter in Q2, driven by a 79% drop in average transaction fees. The current price of XTZ is $0.8124, with an increase of 0.24% in the past 24 hours and a decrease of 2.06% in the past 7 days. XTZ has a 24-hour transaction volume of $15,383,765.48, indicating significant transaction activity on the Tezos network. (Data source: Ronaldo Marquez)