Published by CentBit.Online – Crypto & Blockchain Expert Bangladesh
The global cryptocurrency market is on a bullish streak, with the market capitalization growing by 1.4% in the last 24 hours, reaching $3.73 trillion and edging closer to the $4 trillion milestone.
Daily trading volume surged to an impressive $418 billion, marking the highest activity seen in months. Nearly all of the top 100 cryptocurrencies have appreciated, highlighting the market’s momentum.
Top Coins Performance
- Bitcoin (BTC): Up 2.3%, trading at $96,431.
- Ethereum (ETH): Increased by 2.5%, now at $3,694.
- Cardano (ADA): The only red in the top 10, down 3.2% to $1.23.
Why Is Crypto Up Today?
Several factors are driving the current bullish sentiment:
- Rising Global Optimism: Heightened interest in digital assets due to regulatory clarity and adoption.
- Market Momentum: Historical price milestones and a robust influx of funds into the market.
Tezos-Powered Marketplace Launches Uranium Trading
In a groundbreaking move, Uranium.io, a Tezos-powered decentralized application (dApp), is now live. It allows users to purchase physical uranium (U3O8), also known as “yellowcake,” used in nuclear fuel production.
Key highlights:
- Built on Etherlink, an EVM-compatible Layer 2 blockchain using Tezos Smart Rollups.
- Backed by major players like Archax (a UK-based crypto exchange) and Curzon Uranium (a leading uranium trading company).
- Ensures seamless transactions with features like KYC verification and reduced counterparty risk through smart contracts.
- Physical U3O8 is securely stored in a regulated depository managed by Cameco, a global uranium leader.
According to Tezos co-founder Arthur Breitman, the initiative eliminates barriers in a traditionally restricted market, making uranium trading accessible to individual investors for the first time.
Real-World Asset Tokenization Gains Momentum
- Uranium-backed Token on Uniswap: Uranium3o8 launched as the first tokenized uranium asset.
- Tokenized Silver: Denario and Tokengate have partnered to make physical silver investment more accessible, leveraging secure storage in Switzerland and exploring deployment on the Hedera Blockchain.
According to Yonghan Lee, CEO of Denario, tokenized silver offers a hedge against inflation and a novel way to democratize access to the silver market.
Binance Dominates Exchange Inflows
Binance continues to outpace competitors in 2024, with inflows of $21.6 billion, nearly 40% more than the combined inflows of the next 10 largest exchanges ($15.9 billion).
Key drivers include:
- Regulatory Wins: Increased confidence among institutional and retail investors.
- Launchpool Success: User interest in new tokens has fueled activity on the platform.
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