What’s Happening in Crypto Today? Daily Crypto News Digest

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In crypto news today:

  • Crypto market is green today
  • KRNL and Sig Network Reveal a New Bridging Solution
  • Aave’s GHO Stablecoin Goes Live on Base
  • AAA Blockchain Game Seraph Concludes Season 1 as Top Dapp on BNB Chain

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Crypto market is green today

The crypto market is somewhat green today, presenting a rather mixed picture. Over the past 24 hours, the global cryptocurrency market capitalization fell 2% to $3.32 trillion.

At the time of writing, the daily crypto trading volume is $111 billion.

At the same time, a small majority of the top 100 coins per market cap recorded price increases.

Also, two of the top 10 coins per market fell today. Solana (SOL) fell 2.7% to $199, while Bitcoin (BTC) is down 0.4%, now trading at $97,109.

On the other hand, Cardano (ADA) recorded the highest increase, appreciating 12.6% and changing hands at $0.7915.

It’s followed by BNB’s rise of 5.4% to $634. The rest of the list is up between 0.3% and 3.2%.

At the same time, Ethereum (ETH) is up 0.5%, currently trading at $2,663.

KRNL and Sig Network Reveal a New Bridging Solution

KRNL Labs and Sig Network announced a new cryptographically secured cross-chain bridge, aiming to provide seamless multi-chain interactions.

Users can move digital assets between blockchains instantly. They also enjoy reduced fees and eliminated confirmation delays that are often seen in existing bridging solutions, the press release states.

Furthermore, the cryptographic bridge uses Sig Networks Multi-Party Computation (MPC) technology to create a single deposit on the origin chain and a single withdrawal on the destination chain. This gives flexibility to developers and convenience to users, the team argues.

Meanwhile, the distributed key management provides enhanced security, without having to rely on third-party consensus mechanisms or messaging networks.

Also, Sig accounts are used as ‘liquidity pools,’ so smart contracts are not necessary. The only smart contract involved is the Near Protocol contract, the announcement said.

KRNL co-founder Tahir Mahmood noted that the partnership enhances cross-chain interactions. David Millar-Durrant, CEO of Sig Network, added that “KRNL’s research into extending what Blockchain RPCs are capable of paired with Chain Signatures allows smart contracts that can understand and interact with the world beyond the chain they’re deployed on.”

Aave’s GHO Stablecoin Goes Live on Base

GHO, the decentralized, overcollateralized stablecoin native to the Aave protocol, is now available on Base following an Aave community vote.

Per the press release shared with Cryptonews, users can now supply liquidity, bridge, and borrow GHO on the Coinbase-incubated chain. Expanding GHO’s availability increases accessibility, adoption, and new use cases, it added.

Notably, the expansion builds on the GHO Cross-Chain Architecture that the Aave Governance has adopted. This architecture utilizes Chainlink CCIP, the standard for secure cross-chain interoperability, as well as the Cross-Chain Token (CCT) standard to enable GHO interoperability across supported networks. These networks are Ethereum, Arbitrum, and Base.

The key components of GHO on Base include the supply cap of 2.5 million and the borrow cap of 2.25 million, the proposal payload supported by smart contract tests on each network, and a code review by Certora.

Moreover, it features risk parameters by Chaos Labs and Llama Risk, with an initial $25 million bridge cap, as well as a plan to bootstrap initial GHO liquidity developed by ALC, possibly through incentives and partnerships.

Additionally, Aave service provider ACI coordinated with teams deployed on Base for support, leveraging existing Base and Optimism incentives.

AAA Blockchain Game Seraph Concludes Season 1 as Top Dapp on BNB Chain

Seraph, a blockchain-powered AAA ARPG, successfully completed its inaugural Genesis Season 1. The season, which introduced new gameplay features, challenges, and rewards, followed Seraph’s Token Generation Event (TGE), resulting in a valuation of over $150 million.

Notably, the game became one of the top dapps on the BNB Chain with over 900,000 monthly interactions.

According to the press release, “during the 21-day season, Seraph demonstrated impressive growth and engagement across its Web3 and Steam versions,” the team said. It saw 13,132 players registered on the Web3 version, 13,263 active players on Steam, and 3,500 average DAU on Web3 platforms, while wishlist entries reached 37,489, signaling high interest from traditional gamers.

The Web3 version showed “the robust potential of a player-driven, blockchain-powered economy.” It recorded over $550,000 in in-game top-ups, 845,230 SERAPH tokens consumed across the season, 50,847 trades executed on the NFT marketplace, and 209,223 trades completed within the in-game economy.

“These figures underline the game’s ability to integrate GameFi mechanics effectively, enabling players to experience a decentralized and transparent gaming environment,” the press release said.

Additionally, players participated in PVE (Player vs. Environment) and PVP (Player vs. Player) battles, supporting the game’s ecosystem through in-game transactions and resource management.

The team noted that Season 2 is currently in the works. It will include updates to increase player retention and attract new participants to the Seraph ecosystem. “Upcoming content updates will prioritize expanding engagement, refining gameplay, and strengthening the in-game economy,” it concluded.

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