Daily Crypto News Digest: What’s Happening in the Crypto Market Today?
Crypto Market Overview
The cryptocurrency market is experiencing a downturn today, with a notable drop in global market capitalization. As of now, the total market cap has declined by 1.6% over the past 24 hours, now standing at approximately $2.79 trillion. In addition, daily trading volume has decreased to $86 billion, signaling reduced activity compared to yesterday.
Most of the top 100 cryptocurrencies are showing losses, with only a handful experiencing price increases. Among the few winners, Story (IP) saw a rise of 7.1%, bringing its price to $4.20, while Kaspa (KAS) followed with a 4.7% rise, now priced at $0.07823. Conversely, the XDC Network (XDC) suffered the largest decline, dropping 6.9% to $0.07324. Similarly, Ethena (ENA) fell 6.7%, trading at $0.2966. In the top ten cryptocurrencies, Bitcoin (BTC) stands out as the only gainer, appreciating by 0.7% to a price of $85,548. On the other hand, both Dogecoin (DOGE) and TRON (TRX) reported notable losses, falling by 4.3% and 3.8% respectively, now trading at $0.1589 and $0.2474. Ethereum (ETH) also experienced a decline, dropping 2.7% to $1,630. ## XYO Migrates to Its Own DePIN-Focused Layer 1
In significant news, XYO, a project focused on decentralized physical infrastructure networks (DePIN), is migrating from the Ethereum Layer 2 ecosystem to its own Layer 1 blockchain. This transition comes as part of an effort to meet the growing demand for a blockchain capable of handling high volumes of real-time data with improved throughput and reduced latency.
The announcement included the launch of a public beta for the new blockchain today. XYO’s migration aims to streamline operations by introducing a new consensus mechanism called Proof of Perfect. This mechanism allows decentralized nodes to easily identify correct chain tips for adding blocks, enhancing efficiency by reducing processing and storage requirements.
Additionally, XYO is set to introduce a new utility token, XL1, which aims to work alongside the original XYO token. This dual-token architecture is designed to separate governance functions from those needed for scalable network operations.
Everclear Launches Mainnet with Zero-Fee Rebalancing
Everclear, the cross-chain clearing and settlement protocol designed for digital assets, has announced the successful launch of its full mainnet. As part of this launch, Everclear is implementing zero-fee rebalancing for various solvers, intent protocols, and centralized exchanges across the top four Ethereum Virtual Machine (EVM) chains. Notably, Solana support has also been introduced, with plans to add Tron in the current quarter.
Co-Founder and Chief Researcher at the Everclear Foundation, Arjun Bhuptani, emphasized the project’s mission to unify fragmented digital asset markets, akin to how organizations like Visa and SWIFT streamlined traditional finance. Everclear has reported impressive growth, achieving a 25-fold increase in volume over the first quarter of 2025. ## Dana White Joins VeChain as Official Advisor
In other news, UFC CEO Dana White has been appointed as an official advisor to blockchain firm VeChain. This partnership aims to leverage White’s expertise in brand expansion and fan engagement to drive widespread blockchain adoption. White’s involvement will be instrumental in promoting VeChain’s sustainability initiative, VeBetterDAO, which incentivizes environmentally friendly actions using B3TR tokens.
The addition of White to VeChain’s advisory board comes alongside the expertise of Nobel Prize-winning physicist Konstantin Novoselov, suggesting a blend of marketing savvy and scientific innovation aimed at enhancing the utility and acceptance of blockchain technologies in everyday applications.
Conclusion
As the cryptocurrency market continues to fluctuate, significant developments such as XYO’s migration, Everclear’s mainnet launch, and the collaboration with Dana White highlight ongoing innovation within the space. Stay tuned for more updates as the market evolves.
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