Why is crypto down today?
The global cryptocurrency market capitalization went down again today. It fell 1.4% to $2.53 trillion.
Total trading volume in the last day is $104 billion.
Most top 100 coins are red today. The biggest loss was recorded by Notcoin (NOT) for the second day in a row. It fell 8.1% to $0.01413.
It’s followed by #FLOKI and #BONK, with drops of 7.3% and 6.7% to $0.0001831 and $0.0000284, respectively.
The rest of the red list is down around 6% and below.
At the same time, only eight coins have seen their prices increase.
Ethereum Name Service (ENS) is the biggest gainer. It’s up 4.6%, now trading at $27.4.
Bitget Token (BGB) is in the second place, with a 3% rise to $1.2.
Starknet (STRK) also increased by 3%, followed by Ethereum Classic (ETC)’s 2.6%, while the remaining coins on this list are up below 1% each.
At the same time, only one out of the top 10 coins per market cap is up over the past 24 hours.
XRP is the only coin in this category to see its price increase. It appreciated 0.7%, currently trading at $0.59934.
Toncoin saw the biggest loss of nearly 3%, falling to $6.86.
Binance Coin (BNB) and Dogecoin (DOGE) follow with drops of around 2%.
The rest of the list is down below 1% per coin.
Bitcoin (BTC)’s price decreased by 0.9%, now standing at $66,553.
Ethereum (ETH) is nearby, with a 0.8% drop, changing hands at $3,449.
Meanwhile, Mt. Gox transferred 42,587 BTC ($2.85 billion) to an unknown wallet on Tuesday.
Also, asset manager Grayscale moved $1 billion in ETH as it prepares to transform its multibillion-dollar Ethereum Trust into two ETFs with varying fees.
Illuvium Launching Full-Game Universe Featuring Illuvium: Overworld, Arena, and Zero
In crypto news today, Web3 gaming firm Illuvium’s triple-title debut is set for July 25, “armed with over USD 100 million in funding and 1 million eager fans,” said the press release.
The gaming studio will release three interconnected gaming titles developed simultaneously, Illuvium: Overworld, Arena, and Zero.
Because Illuvium is part of an interconnected and expansive ecosystem, in-game progress and items carry over between the games.
Additionally, players have complete ownership of their in-game assets, stored in their Immutable Passport wallet and verifiable on the Ethereum blockchain.
The ILV in-game currency can be bought or earned while playing. It serves as a governance token and can also be staked to earn rewards.
All games within the Illuvium universe will be free to play, with optional paid elements if players choose.
“With the studio boasting worldwide talent, such as Jaco Herbst – previously Blizzard Entertainment, and Kostiantyn Bondar – previously Ubisoft, Samsung, and Gunzilla Games, Illuvium is guaranteed to cater to a wide audience with its various mechanics and gameplay across one singular universe offering three separate games,” the press release said.
Coinbase Partners with Creators to Bring Atari Games Onchain
Major crypto exchange Coinbase has collaborated with Atari, Base, Stack, and several creators to launch the new Onchain Arcade.
Within the new arcade, gamers will be able to “compete in nostalgic favorites” and earn rewards through August 30.
These include the Atari 2600+, merch, game codes, and gift cards, the announcement said.
Users can mint each game, play, and compete for the spot on the onchain leaderboards Asteroid, which is already available, and Breakout, which is coming soon.
The email shared with Cryptonews stated that Onchain Arcade aims to change the current situation wherein unfair online rules and fees put creators at a disadvantage.
“Artists, game developers, and others who made these beloved games possible will now benefit directly through the automated distribution of game sales proceeds,” it said.
This arcade is created for Coinbase’s Onchain Summer. This is the second year of Onchain Summer. It’s an event for Coinbase, Base, and the entire on-chain community to celebrate and showcase on-chain music, art, food, gaming, and more, the blog post said.
SlamNet to Launch with CryptoSlam, Animoca Brands, and Others as Key Contributors
In other crypto news today, the SLAM Foundation announced that key contributors from across the crypto industry – including CryptoSlam and Animoca Brands – have joined hands to launch SlamNet, the information economy of Web3.
The SlamNet ecosystem will include raw, decoded, and enriched data, SlamLink, SlamChain, SlamX, the SLAM token, .slam NFT, and SlamNet DAO.
According to the press release, SlamNet aims to “power the flow of enriched, trusted data in Web3 and fuel the intelligence, commercial and financial applications critical to its prosperity and growth. It will empower a community of incentivized creators building upon its platforms.”
CryptoSlam will be SlamNet’s flagship data provider and launch contributor.
Additionally, its team has been working closely with Animoca Brands since December 2023 on various aspects of SlamNet, including tokenomics, legal and strategic support, the announcement said.
The SLAM token (SLAM) will be launched by SLAM Digital later this year as the currency of SlamNet’s information economy. It will play a critical role in its governance through the SlamNet DAO.
Details on the initial distribution and a growing list of additional contributors from across the industry will be announced over the coming weeks.
“As Web3 continues to mature and mirror traditional economies, SlamNet will be the needed infrastructure to power its information economy,” said Randy Wasinger, Founder and CEO of CryptoSlam.
Per Mohamed Ezeldin, Head of Tokenomics at Animoca Brands, “this collaboration marks a pivotal moment for Web3 because of the origin and maturity of the SlamNet ecosystem, which developed out of the need for NFT data and insights.”
