Crypto Market Sees Slight Drop Amid Rising Trading Volume
The global cryptocurrency market has experienced a minor decline, with the total market capitalization dropping by 0.6% to $2.15 trillion in the past 24 hours. Despite the downturn, crypto trading volume has surged to $93.2 billion today, following several days of sluggish numbers. Twenty-four of the top 100 coins are showing gains, with Nervos Network (CKB) leading the pack, up 10.7% to $0.01791.
Other notable performers include Artificial Superintelligence Alliance (FET), up 2.8% to $1.34, and Cosmos Hub (ATOM), which saw a gain of over 2%. However, Helium (HNT) was the day’s worst performer, dropping 5.7% to $6.53. Maker (MKR), Arweave (AR), and Aave (AAVE) also recorded declines of around 4%.
Among the top 10 cryptocurrencies by market cap, Bitcoin (BTC) saw a 1.6% increase, now trading at $59,915. Toncoin (TON) and Dogecoin (DOGE) also posted slight gains, while XRP experienced the biggest drop, falling 1.9% to $0.57223.
Ethereum (ETH), which has remained relatively stable, dropped 0.1% to $2,310. During the TOKEN2049 event, Ethereum co-founder Vitalik Buterin expressed optimism about Ethereum’s future, predicting mainstream adoption within the next decade.
Meanwhile, Cyber Capital founder Justin Bons praised Solana’s tokenomics and scalability, suggesting it could outpace Ethereum.
Sky Protocol Introduces New Tokens and Features
In the world of DeFi, Sky Protocol (formerly known as Maker) has launched its native tokens – the USDS stablecoin and the SKY governance token. Users can now upgrade their DAI and MKR tokens to these new assets at a 1:1 and 1:24,000 conversion rate, respectively.
The Sky.money Web App has also gone live, enabling users to access key features such as Sky Token Rewards (STRs) and the Sky Savings Rate (SSR). The protocol’s first ecosystem partner, Chronicle, has launched its Chronicle Points, allowing USDS holders to earn additional rewards.
AMINA Bank Joins BIS’ Project Agorá for Cross-Border Payment Tokenization
AMINA Bank has been selected to participate in Project Agorá, a global initiative led by the Bank for International Settlements (BIS) and the Institute of International Finance (IIF). The project will explore how tokenization can enhance cross-border payments by integrating tokenized commercial bank deposits with central bank digital currencies (CBDCs).
The collaboration involves seven major central banks, including the Bank of England and the Federal Reserve Bank of New York. AMINA’s CEO, Franz Bergmueller, highlighted the project’s potential to improve the global financial system through the use of smart contracts and blockchain technology.
Everclear Launches Mainnet and Introduces New Token Mechanism
Everclear, a clearing layer for Web3, has launched its mainnet in beta, aiming to address liquidity fragmentation across modular blockchains. The platform enables seamless cross-chain liquidity coordination by netting bidirectional flows and helping protocols rebalance capital.
Everclear has also introduced a new vote-bonding token mechanism for its NEXT token, allowing users to stake NEXT and receive vbNEXT. This system is designed to incentivize solvers, protocols, and blockchains to maintain liquidity balance, with additional rewards to prevent monopolization by large liquidity providers.
In summary, the cryptocurrency market has seen minor declines, though trading volume is on the rise. New developments in DeFi, cross-border payments, and blockchain liquidity management continue to drive innovation and reshape the industry.
