Daily Crypto Digest: What’s Happening in the Crypto Market Today
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The cryptocurrency market is experiencing a positive turnaround, showing notable gains after a recent downturn. Here’s a snapshot of the latest developments in the crypto world.
Market Performance
The global cryptocurrency market capitalization has seen an increase of 1.3% over the past 24 hours, bringing it to a total of $3.2 trillion. Trading volume has surged back to $149 billion, reflecting a return to activity levels not seen since before the latest market declines.
All of the top 10 cryptocurrencies are currently trading in the green. Ethereum (ETH) leads the pack with a 2.7% increase, now priced at $1,966. Following closely, Dogecoin (DOGE) and Cardano (ADA) have seen respective gains of 6.7% to $0.184 and 6.4% to $0.7225. Notably, Bitcoin (BTC) is witnessing a 2.7% rise and is trading at $99,563, inching closer to the significant $100,000 mark.
Among the top 100 cryptocurrencies by market capitalization, every coin is in the green. Pudgy Penguins (PENGU) is making a remarkable move, soaring 27.8% to $0.01412. Additionally, several other coins have also registered double-digit percentage increases.
Futureverse and Rakuten Wallet Partnership
In a significant development, Futureverse, an AI and metaverse technology company, has launched the RakutenWallet.Pass in collaboration with Rakuten Wallet. This innovative wallet upgrade is designed to enhance the user experience by integrating Futureverse’s proprietary Pass technology and the Layer 1 blockchain, The Root Network.
This integration introduces Web3 benefits, simplifying the previously complex process of onboarding to Web3, while providing users with digital ownership and immersive experiences. One of the initial features available is Reebok Impact, where users can utilize Futureverse’s AI technology to create personalized digital sneakers based on popular Reebok models. They can then showcase these shoes in the Futureverse ecosystem.
To further this initiative, Futureverse and Rakuten have signed a Memorandum of Understanding, aiming to develop their Web3 and metaverse initiatives collaboratively.
Axelar and Sui Blockchain Integration
Axelar, a Web3 interoperability platform, has announced its mainnet integration with Sui, a Layer-1 blockchain designed for smart contracts. This integration is poised to enhance developers’ capabilities by providing "unlimited" scalability, built-in compliance, and institutional-grade security.
By leveraging Sui’s zkLogin for easier onboarding and the high-performance infrastructure, developers can now build innovative decentralized applications (dApps) with relative ease. This development opens up new opportunities for multichain layers, allowing for a smoother user experience across various blockchain networks.
Bybit Introduces Gold Exclusive Trading Zone
Crypto exchange Bybit has unveiled its Gold Exclusive Trading Zone, enabling users to trade gold alongside cryptocurrencies for the first time. Additionally, users participating in gold trading will have the opportunity to compete for a share of an $800,000 prize pool.
The Gold Exclusive Trading Zone allows trading traditional gold pairs using USDT across several platforms. Eligible users can engage until June 10, where they will be able to participate in activities that can earn them exclusive rewards, including physical items like gold rings and coins, as well as USDT airdrops.
Conclusion
As the cryptocurrency market demonstrates renewed vigor, developments from companies like Futureverse, Axelar, and Bybit are paving the way for innovative features and interactive platforms. This evolving landscape continues to attract interest from investors and users alike, reinforcing the growing integration of cryptocurrency into mainstream markets.
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