Why is Crypto Up Today?
Over the past 24 hours, the global cryptocurrency market capitalization has risen by 1%, reaching $2.4 trillion. Most of the top 100 coins by market cap are in the green.
- Notcoin (NOT) is the day’s biggest gainer, up 12.1% to $0.01602.
- Ethereum Name Service (ENS) follows with a 9.4% increase, trading at $25.3.
Meanwhile, Pendle (PENDLE) saw the most significant decline, falling 4.6% to $5.55, followed by Arweave (AR), Lido DAO (LDO), and NEAR Protocol (NEAR), all down around 4%.
Among the top 10 coins, Toncoin dropped 1% to $7.53, and XRP fell 0.75% to $0.47333. On the positive side, Dogecoin (DOGE) rose by 2.9% to $0.12577, and Solana (SOL) increased by 2.55% to $137.9. Bitcoin (BTC) appreciated by 1.4% to $61,751, and Ethereum (ETH) is up 1%, now trading at $3,398.
Bitcoin spot exchange-traded funds (ETFs) in the US experienced a positive turnaround on Tuesday, with a net inflow of $31 million after seven consecutive days of net outflows. Additionally, consumer confidence in the US took a hit in June, reflecting growing concerns about future economic conditions, which also influenced Bitcoin prices.
Solana Taps APhone to Meet Demand for 50,000 Users Awaiting Chapter 2
Solana Mobile ecosystem’s initiative with APhone aims to enable Solana Saga owners to activate APhone’s decentralized cloud smartphone. This move responds to the high demand for Solana’s forthcoming Chapter 2 smartphone, which has amassed 100,000 preorders in under a month.
Expected in 2025, Solana’s Chapter 2 phone will be priced at $450 and include improvements like Seed Vault and a decentralized app store. APhone’s cloud smartphone leverages Aethir’s decentralized cloud (DeCloud) technology, allowing access to over 500 Web3 apps, games, and DeFi protocols on the Solana blockchain directly through a browser.
To kick off, APhone will airdrop 20,000 Access Pass NFTs to Solana Saga users, providing them with significant processing power without draining device resources. Following this, APhone plans to airdrop Solana custom phones to those on the Saga Chapter 2 waitlist. This initiative aims to meet immediate customer needs and strengthen Solana Mobile’s market position by offering an ecosystem free of traditional app store gatekeeping.
Animoca’s Motoverse Taps Meme Coins to Boost Ecosystem Engagement
Animoca Brands’ Motoverse project has partnered with meme coin TURBO to enhance ecosystem engagement. TURBO, the first decentralized grassroots meme coin created by AI, will collaborate with Motoverse on joint marketing and interoperability initiatives.
The partnership includes a token swap between Motorverse’s REVV tokens and TURBO, with Motoverse using TURBO tokens for community-building initiatives among REVV holders. Futureplay.com will provide liquidity for the token swap on TURBO’s side.
To celebrate, Motorverse will host a series of contests, starting with a car livery design contest for Motorverse’s REVV Racing title. A meme-creation contest will follow, encouraging community members to create engaging and humorous memes highlighting the partnership between TURBO and Motorverse.
Johnny Mack, TURBO’s Strategic Partnership Developer, expressed excitement about the integration of TURBO in Motorverse, which is expected to enhance user engagement and create unique gaming experiences by expanding TURBO token utility.
Conduit Raises $35M Series A Led by Paradigm, Haun Ventures
Crypto-native platform Conduit announced a $35 million Series A funding round led by Paradigm and Haun Ventures. Chris Ahn from Haun Ventures and Georgios Konstantopoulos from Paradigm will join Conduit’s board of directors. New investors include Bankless Ventures, Coinbase Ventures, Credibly Neutral, and Robot Ventures, along with angel investors like Hayden Adams and Tim Beiko.
The funds will be used to continue scaling Ethereum by making it easier to deploy, scale, and build on customizable and reliable rollups. Users can deploy their own rollup in minutes on Conduit, choosing from major frameworks like the OP Stack and Arbitrum Orbit, and customize the rollup stack with the latest modular blockchain solutions.
Today, Conduit rollups secure over $1.2 billion in total value locked (TVL), process 20% of transactions on Ethereum, and scale gas usage 15 times higher than Ethereum L1’s capacity.
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