Why is Crypto Up Today?
The global cryptocurrency market is experiencing a surge, with the total market capitalization rising by 1.8%, reaching $2.31 trillion. Daily trading volume has also seen a spike, hitting $114 billion. Among the top 100 coins, only ten have experienced declines today.
The biggest loser is Celestia (TIA), dropping 5.3% to $6, followed by Nervos Network (CKB), which is down 4.8% to $0.01705. Fantom (FTM) also slipped 2.3% to $0.6382, while other coins saw smaller declines of less than 2%.
On the brighter side, several coins have posted double-digit gains. Aptos (APT) leads the pack, jumping 14.3% to $7.23, followed by Jupiter (JUP), which surged 11.5%, now trading at $0.8744. Both Core (CORE) and Bittensor (TAO) saw increases of between 10% and 10.9%.
In the top 10 cryptos, Solana (SOL) had the most impressive performance, rising 9.2% to $151.48. Ethereum (ETH) and Lido Staked Ether (STETH) each gained 4.8%, with ETH trading at $2,547. Meanwhile, Bitcoin (BTC) saw a more modest increase of 1.7%, with its price reaching $63,497.
Germany Shuts Down 47 Illegal Crypto Platforms
In regulatory news, Germany’s public prosecutor announced the closure of 47 exchange platforms involved in illegal activities. These platforms reportedly allowed trading in both traditional currencies and cryptocurrencies, operating outside of legal frameworks.
Terraform Labs Granted Approval for Wind-Down
In corporate developments, Terraform Labs, the company behind the Terra blockchain protocol, has received court approval to wind down its operations as part of ongoing bankruptcy proceedings.
Tether Invests $1.5 Million in Sorted Wallet to Boost Financial Inclusion
Tether, the largest stablecoin issuer, announced a $1.5 million strategic investment in Sorted Wallet, a platform designed to provide easy access to cryptocurrency for users in emerging markets. Sorted Wallet targets users in Africa and Southern Asia, focusing on low-powered smartphones and feature phones.
Sorted Wallet offers a non-custodial wallet that enables users to manage their finances without requiring the latest smartphones. Stephen Browne, CEO of Sorted Wallet, emphasized that this investment would help turn the company’s vision of financial empowerment into reality for millions across underserved regions.
Tether CEO Paolo Ardoino highlighted that the collaboration would open opportunities for people with basic mobile phones to securely manage and utilize cryptocurrency, helping them participate in the evolving digital economy.
PancakeSwap Celebrates 4 Years with $836 Billion Trading Volume and 43 Million Unique Addresses
PancakeSwap, the popular decentralized exchange (DEX), celebrated its 4th anniversary on September 17 with impressive achievements, including a total value locked (TVL) of $1.67 billion and a cumulative trading volume of $836 billion. The platform has grown to over 43 million unique addresses and continues to strengthen its deflationary model through its veCAKE functionality and Gauges Voting.
PancakeSwap has also burned 5.9 million CAKE tokens over the past year and distributed 757,613 CAKE through its newly launched Revenue Sharing Program. The DEX has seen strong community support, with 2.3 million followers across social media and over 40 ambassadors promoting its growth.
To mark the occasion, PancakeSwap introduced the Prediction Telegram Bot – Beta, allowing users to make predictions on BNB Chain. A $4,444 reward campaign is also underway to engage users through the new feature.
Unstoppable Domains Partners with LFG to Expand Gala Games Ecosystem
Unstoppable Domains, a leading on-chain domain provider and digital identity platform, has announced a strategic collaboration with LFG (Let’s Fight Giants), founded by the former President of Blockchain at Gala Games, Jason ‘BitBender’ Brink. The partnership will introduce the .LFG domain, aiming to unite the Gala Games ecosystem and expand exposure across blockchain applications.
The .LFG domain can be used to send and receive cryptocurrencies, access 865 integrated decentralized applications (dapps), and function as a unique digital identifier. Users will also have the ability to earn collectible badges and message other domain holders privately.
Unstoppable Domains COO Sandy Carter emphasized that Web3 gaming is one of the most exciting growth areas in the blockchain space, and this partnership aligns with the company’s mission to make blockchain accessible to all. Jason Brink, founder of LFG, added that the collaboration would help build an engaged community and navigate the dynamic on-chain landscape.
In summary, today’s crypto news highlights a strong market rally, key investments in financial inclusion, PancakeSwap’s growth, and exciting developments in Web3 gaming, showcasing how the crypto space continues to evolve and expand its impact on various industries.
