Crypto News Digest: What’s Happening in the Crypto World Today?
Stay up-to-date with the latest news and developments in the blockchain and cryptocurrency industry. Here’s a condensed summary of today’s stories that may have slipped under the mainstream news radar.
Why is the Crypto Market Down Today?
The global cryptocurrency market currently has a capitalization of $2.43 trillion, representing a 3.2% decrease over the past 24 hours, according to CoinGecko. Among the top 100 coins by market cap, only five have experienced price increases. Ribbon Finance (RBN) leads the pack with a 23% surge to $1.14. WhiteBIT Coin (WBT), Lido DAO (LDO), Kaspa (KAS), and Bitget Token (BGB) also show gains. On the other hand, CORE has suffered the most significant drop, falling 10.5% to $2. PEPE and FLOKI are down nearly 10%. The top 10 coins by market cap are all in the red today.
Source: CoinGecko
The highest decline among them comes from Solana (SOL), dropping 6.2% to $134.84. Toncoin (TON) follows closely with a nearly 6% fall to $5.24, and Dogecoin (DOGE) experiences a 5.8% decrease to $0.1414. Bitcoin (BTC) has declined by 2.6%, currently trading at $62,255, while Ethereum (ETH) is down 4.1%, changing hands at $3,182. Meanwhile, Ethereum gas fees have seen a significant drop to $1.12, their lowest levels in six months. Analysts from crypto analytics platform Santiment suggest that this decline could signal an upcoming altcoin rally. Furthermore, ASX, Australia’s main market operator, is on track to approve the country’s first spot-based Bitcoin ETFs by the end of 2024. The operator is currently in discussions with several interested issuers.
Anchorage Digital Launches Crypto Settlement Network
In today’s crypto news, US-based crypto platform Anchorage Digital is introducing its own settlement network for institutional clients. Called Atlas – Anchorage Digital Trusted Liquidity and Settlement, it is described as the only settlement network offered by a federally chartered bank. Atlas is designed to cater to all types of institutional counterparties, including buy- and sell-side participants and exchanges. It facilitates various settlements, including OTC settlement, OTC margin/collateral management, and off-exchange settlement. Since its early access launch earlier this year, Atlas has already settled hundreds of millions of dollars in digital assets. Atlas offers 24/7 availability of funds, and customers can settle in crypto and USD within minutes. The bank is mandated to keep assets segregated with verifiable wallet addresses and ensure that funds settle to bankruptcy-remote custody. The settlement is fully on-chain, assets are never commingled, and customers can access global counterparties, including clients of Anchorage Digital Bank and Anchorage Digital Singapore. Anchorage Digital Bank NA works with some of the biggest counterparties in crypto to meet their fiduciary obligations. Notably, Anchorage Digital is the only custodian to provide on-demand settlement directly between participants without escrow, collateral, or the use of omnibus accounts.
SKALE-Virtualness Partnership to Bring 260,000 Users and 250 Million NFT Mints
SKALE Network, a gas-less EVM-compatible blockchain for Ethereum scaling, has announced a strategic partnership with Virtualness, a mobile-first platform powered by generative AI and blockchain. The partnership aims to redefine digital engagement and empower global sports fans, enterprises, and creators. Virtualness currently serves 260,000 users and recently signed an agreement to work with Liga1, Asia’s largest football league. As part of the partnership, sports fans will gain access to exclusive NFT moments, player cards, rewards, loyalty programs, real-world experiences, and gamification on the Virtualness platform, powered by SKALE. SKALE expects that 250 million NFTs will be minted on Virtualness in 2024. The partnership enables Virtualness users to leverage SKALE’s high-throughput, zero-gas-fee transactions and instant finality capabilities. With SKALE, sports fans, enterprises, organizations, and all Virtualness users can mint for free, democratizing access to digital asset ownership. The Virtualness platform offers a user-friendly interface for creating, minting, and showcasing digital goods, requiring no knowledge of crypto or blockchain. It also allows sports, enterprises, and creators to directly interact with their communities. Virtualness will soon offer more on-chain assets, including NFT player cards, prizes via SKALE tokens, and transparent storage and sharing of game data, such as leaderboard scores and prize information.
Fake Bomber Receives Three Years of Probation
In other crypto news, William Giordani (55), who was involved in a crypto-related bomb threats plot, has been sentenced to three years of probation. According to The Independent, last April, a disguised voice caller informed Harvard University’s police department about bombs placed on campus. The caller demanded an unspecified amount in Bitcoin to prevent the bombs from being remotely detonated. As a result, Harvard’s Science Center Plaza and surrounding academic buildings were evacuated. Only one false device was found, and no injuries were reported. Giordani pleaded guilty to concealing a federal felony by knowing about it and not reporting it. Although he initially faced up to three years in prison and a fine of up to $250,000, prosecutors recommended a sentence of three years’ probation. The prosecutors accepted his guilty plea because they believed he had been lured into the plot after responding to a Craigslist ad. They also acknowledged that Giordani’s drug habit played a role in his involvement and noted his efforts to remain in a recovery program.