Stay updated with the latest developments in the blockchain and cryptocurrency realm with our concise daily news digest. We delve into the lesser-known stories making waves in today’s crypto landscape.
Reasons Behind the Crypto Market Decline Today Over the past 24 hours, the total cryptocurrency market capitalization has experienced a notable 5% decline, currently resting at $2.43 trillion, as reported by CoinGecko. Among the top 100 cryptocurrencies, only four have witnessed price increases.
Leading the pack is CORE, with an impressive 37% surge to $2.32. Following closely are ZBC, OKB, and TIA.
On the downside, Nervos Network (CKB) suffered the most significant drop, plummeting by 18% to $0.02264. Ribbon Finance (RBN) also saw a decline of 13.4%, settling at $1.14.
Zooming into the top 10 coins by market capitalization, the scenario is starkly different from the previous day, with all coins now in the red. Notable declines include Toncoin (TON) and Solana (SOL), which fell by 11.6% and 11.2%, respectively. XRP showed relatively better resilience with a 3.6% decrease to $0.4971. Bitcoin (BTC) and Ethereum (ETH) also experienced losses, with BTC dropping 4.4% to $63,328 and ETH dipping 5.1% to $3,091.
The recent downturn was triggered by geopolitical tensions, particularly the Iran-Israel conflict, resulting in significant liquidations among crypto investors. Additionally, approximately $1.5 billion worth of bullish positions were liquidated over the weekend. Despite this bearish sentiment, Bitcoin managed to recover swiftly, driven by anticipation surrounding the upcoming halving event.
In other news, BlackRock’s Bitcoin ETF emerged as the only spot BTC fund in the US to witness inflows on Monday, while other ETFs reported either outflows or stagnant inflows.
Celebrated Composer Hans Zimmer Collaborates on ‘The TRON Anthem’ Legendary film score composer Hans Zimmer, in collaboration with Tron founder Justin Sun, has unveiled ‘The TRON Anthem,’ a song inspired by Tron’s vision of a Web3 future. The creation of the anthem followed two years of discussions between Zimmer and Sun, centered around the transformative potential of the internet and technological advancement. The anthem aims to symbolize the values of equity and equality in the TRON community and beyond, embracing a humanistic approach to the future.
Tether and Fuze Launch Educational Collaboration in Turkey and the Middle East Tether and Fuze have announced a partnership to drive digital asset education initiatives in Turkey and the Middle East. The collaboration, formalized through a Memorandum of Understanding (MoU), aims to educate local financial institutions, businesses, and individuals on the benefits of digital assets and blockchain technology. Through educational campaigns and engagement with regional banks, Tether and Fuze seek to promote the adoption of cryptocurrencies, stablecoins, and blockchain for cross-border payments and everyday transactions across the region.
Manta Network Joins Hong Kong’s Flagship Digital Technology Incubator Program Manta Network, a modular blockchain for zero-knowledge applications, has joined Cyberport, Hong Kong’s premier digital technology incubator. As part of the program, Manta Network will collaborate with regulators and explore real-world use cases for blockchain technology in finance, education, and traditional sectors. The initiative aims to foster innovation and drive the adoption of Web3 technologies in Asia, with a focus on privacy, scalability, and security.
stc Bahrain Partners with Aleph Zero to Advance Blockchain Adoption in the Middle East stc Bahrain, a subsidiary of stc Group, has partnered with Aleph Zero to deploy validator nodes and enhance the blockchain infrastructure in the Gulf region. Through the Pearling Path initiative, stc Bahrain aims to accelerate Web3 adoption and support the development of a secure and integrated digital ecosystem across the Middle East. The collaboration underscores the growing momentum of blockchain technology in the region, paving the way for decentralized solutions and digital innovation.
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