What’s Happening In Crypto Today? Daily Crypto News Digest
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In crypto news today:
- Why is crypto up today?
- Paxos Expands to Arbitrum, Plans to Unveil Tokenization Platform
- Telco Giant Telefónica Tech and Privado ID Drive Adoption of Private Digital Identities in the EU
- Studio369 Launches MetalCore Season 1: MetalPunk Rhapsody
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Why is crypto up today?
The global cryptocurrency market capitalization has increased by 2% over the past 24 hours to $2.11 trillion.
Additionally, the global cryptocurrency trading volume in the last day is $86 billion.
Not many of the top 100 coins are down over the past day.
The reddest of these is Helium (HNT). It’s down 5.7% to $7.89.
Maker (MKR) fell 3% to $1,594, while the rest of the list is down below 2.5% per coin.
The biggest gainer today is Artificial Superintelligence Alliance (FET). It’s up 10.3% to $1.27.
Next up are Fantom (FTM) and Dogwifhat (WIF), with increases of 9.4% and 9.1% to $0.4859 and $1.69, respectively.
The others in this category are up 8.5% and below.
As for the top 10 coins per market cap, all are green today.
Dogecoin (DOGE) appreciated the most: 5.7% to $0.10389.
Solana (SOL) and Bitcoin (BTC) follow, with similar increases. SOL rose 3.9% to $134.76, while BTC increased by 3.4%, now trading at $57,233.
Ethereum (ETH) increased the least: 1.1% to the current price of $2,356.
There are some suggestions that BTC’s bullish momentum may be fading, with a potential shift toward bearish sentiment. It remains to be seen.
Meanwhile, Matt Hougan, Bitwise’s Chief Investment Officer, stated that wealth advisors are adopting Bitcoin exchange-traded funds (ETFs) faster than any other ETF in history.
Paxos Expands to Arbitrum, Plans to Unveil Tokenization Platform
Paxos, a regulated blockchain infrastructure and tokenization platform, will integrate with Arbitrum, a popular Layer 2 (L2) scaling solution on Ethereum.
According to the press release shared with Cryptonews, Arbitrum is the first L2 network that Paxos will enable.
This move is “joining one of the largest on-chain ecosystems in the space and expanding its presence in the Ethereum ecosystem,” it stated.
This partnership is a vital step towards facilitating further institutional integration onto Arbitrum and bringing real-world assets (RWAs) on-chain.
Paxos will utilize Arbitrum to tap into Ethereum’s liquidity, allowing enterprises and institutions to leverage the offered capabilities to “enable innovative financial products and services.”
Furthermore, Paxos and Arbitrum said they would bring assets to the protocol “shortly.”
Walter Hessert, Head of Strategy at Paxos, stated that speed, security, and scalability are essential to driving the long-term adoption of digital assets across industries. Arbitrum, he argues, possesses all three.
“In the next three years, the adoption of stablecoins by both retail and institutional users will explode, and Paxos will drive that paradigm shift,” he said.
Luke Xiao, Fintech Partnership Lead at Offchain Labs, the original contributors to Arbitrum, added that Paxos is bringing their stablecoin issuance and regulated tokenization platform to Arbitrum.
“Arbitrum’s high-performance network and robust ecosystem make it a natural home for Paxos’ tokenization platform,” Xiao added.
Telco Giant Telefónica Tech and Privado ID Drive Adoption of Private Digital Identities in the EU
Privacy-focused digital identity platform Privado ID, formerly known as Polygon ID, has announced a strategic partnership with Telefónica Tech, the strategic digital business unit of Spanish multinational telecom giant Telefónica Group.
According to the press release shared with Cryptonews, Telefónica Tech has joined the Privado ID ecosystem as a systems integrator.
The collaboration leverages Telefónica Tech’s managed blockchain service TrustOS to facilitate the development of innovative verifiable credential use cases.
It includes developing proofs-of-concept for various use cases in digital identity. Among the first ones is age verification, aiming to ensure reliable, secure, and privacy-compliant mechanisms for accessing adult content and gambling platforms.
Additionally, Telefónica Tech will add the ability to issue certifications in a verifiable credential format to its content certification service.
Users will be able to automatically issue their accreditations (diplomas, academic qualifications, attendance at seminars and courses, etc.) as verifiable credentials and load them into digital wallets.
Other use cases include digital national identities, e-signature solutions, and privacy-preserving loyalty programs, among others, the announcement said.
José Luis Núñez, Global Head of Blockchain and Web3 at Telefónica Tech, stated that the integration will advance the adoption of digital identity solutions that “ensure strict compliance with eIDAS2 requirements.”
The European Digital Identity Regulation (elDAS2) mandates that all EU Member States must provide Digital Identity Wallets to their citizens. It also outlines technical specifications and certification.
As the EU prepares to implement eIDAS2, there is a massive demand for robust, privacy-centric digital identity solutions, the teams argued.
“Empowering large companies to reliably integrate innovative technologies, such as our advanced zero-knowledge proof-based digital identity platform, is key to widespread adoption of self-sovereign identity,” remarked David Schwartz, Chief Executive Officer and Co-Founder at Privado ID. “Telefónica Tech’s size and depth of experience will go a long way to bring corporate clients into the Privado ID ecosystem.”
Studio369 Launches MetalCore Season 1: MetalPunk Rhapsody
Studio369, the game development company behind the PvP mech shooter MetalCore, has announced that its MetalCore Season 1: MetalPunk Rhapsody will go live on September 12.
According to the press release shared with Cryptonews, with this launch, the game will transition to open beta, allowing anyone to play without needing a beta key or making any purchases.
Furthermore, Season 1 kicks off a new seasonal format, with each season lasting four weeks. Each will focus on a different faction within the game’s universe.
The team has upgraded the game to Unreal Engine 5 and DLSS, stating that “through these optimization efforts, the development team has expanded the range of hardware capable of running the game smoothly without the need for cutting-edge gaming rigs.”
They also noted that the user onboarding process has been refined to make it easier for newcomers to join the universe.
Additionally, the team added PvP bounties, fresh mission content, PvE Raids, Unit Rarity, Stats, and Seasonal Rewards system, among other enhancements.
The game will be available on the Epic Games Store.
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