Crypto Market Surge: What’s Driving the Increase?
The global cryptocurrency market capitalization has surged by 4.5% over the past 24 hours, reaching $2.4 trillion. Total trading volume in the last day is $71.8 billion. Among the top 100 coins, only five have seen price decreases, with Internet Computer (ICP) and Fantom (FTM) experiencing the largest drops of 1.2%, trading at $8.85 and $0.4928, respectively. The other coins on the decline list are down less than 1%.
Conversely, Stacks (STX) leads the gainers with a 10.5% rise to $1.87, followed by Immutable (IMX) and Starknet (STRK), up 9.7% and 9.6% respectively, both trading at $1.48. All top 10 coins by market cap have appreciated in the past day, with XRP seeing the smallest increase at 2%, currently priced at $0.52904. Ethereum (ETH) recorded the largest gain, up 4.2% to $3,335, followed by Solana (SOL) at 4.1%, trading at $151.44, and Bitcoin (BTC) up 4% to $62,521.
Russia Moves Towards Legalizing Crypto Mining
In regulatory news, Russia is potentially set to legalize Bitcoin and altcoin mining. A State Duma committee has approved a bill that will be voted on later this month.
Eden Games Launches Cosmic Royale in Animoca Brands’ Motorverse
Game development studio Eden Games, a subsidiary of Animoca Brands, has announced the beta launch of Cosmic Royale, a Web3 party royale kart racing game. This game, developed in partnership with Mocaverse, is part of Animoca Brands’ Motorverse ecosystem. It features 40-player matches with racing and obstacle navigation, aiming to emerge as the sole winner. The beta is accessible to Mocaverse’s Moca ID holders, with a full launch planned for Q4 2024. High-scoring players can earn Realm Points (RP) convertible to MOCA Coin.
MakerDAO SubDAO Spark Announces Tokenization Grand Prix
Spark, a SubDAO within the MakerDAO ecosystem, is launching the Spark Tokenization Grand Prix to accelerate the adoption of real-world assets (RWAs) in DeFi. The competition aims to onboard $1 billion in tokenized RWAs to the Spark ecosystem, open to innovators and issuers from August 12. The judging panel includes experts from Maker ecosystem entities such as Phoenix Labs and Steakhouse Financial. Winning applications will be onboarded as collateral for Maker’s stablecoin DAI and its upcoming stablecoin under the Maker Endgame Plan.
Unstoppable Domains Introduces “.Stepn” Web3 Domain
Web3 domain name provider Unstoppable Domains has partnered with STEPN, a Web3 lifestyle app that rewards users for physical activities, to launch the “.stepn” Web3 domain. This new Top-Level Domain (TLD) allows for easy transactions in STEPN’s native token, GMT, as well as other cryptocurrencies and NFTs. The .stepn domain integrates with Unstoppable’s ecosystem of 865 partner applications and supports various blockchain addresses, including Solana and other EVM and non-EVM chains. Additionally, Unstoppable and STEPN will collaborate on applying for general TLD (gTLD) registration with ICANN in 2026, aiming to create user-owned domains for seamless Web2 and Web3 integration.
STEPN: The Move-and-Earn Application
STEPN is a move-and-earn app using blockchain to incentivize exercise by rewarding users with digital assets. The app boasts two to three million active users monthly.
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