In crypto news today:
-Why is crypto down today?
-Synonym Launches the Bitkit Bitcoin Wallet on App Stores
-Fetch.ai, SingularityNet, and Ocean Protocol Postpone Token Merger
-Minima Blockchain Powers On-Chain Race
-Data Logger for McLaren GT4 Supercar
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Why is crypto down today?
Over the past 24 hours, the global crypto market capitalization has decreased by 0.5%. It now stands at $2.57 trillion.
Of the top 100 coins per market cap, only six have seen their prices increase.
The best performer in this category is Notcoin (NOT), with a 7.2% increase to $0.01744.
TONCOIN (TON) is next. It appreciated 6.9% to $7.55.
Stacks (STX) and Injective (INJ) follow it with increases of about 5% to $2.3 and $30, respectively.
However, more coins on this list are in the green than the red zone today.
BRETT recorded the highest loss: 12.4% to $0.1464.
FLOKI is next, having seen a drop of 8.2% to the price of $0.0002197.
More meme coins, including BONK, WIF, and PEPE, are down 5%-6% today.
Zooming into the top 10 coins per market cap, we find most coins in the red today.
Only three coins have seen their prices increase.
Toncoin is the best performer in this category.
Dogecoin (DOGE), unlike many of its meme peers, is green today. It’s up 2% to $0.14356.
XRP is up 0.04%, meaning that it’s remained unchanged over the past 24 hours. It currently trades at $0.48442.
When it comes to the drops, all of them are smaller than 2%.
The highest is Lido Staked Ether (STETH)’s 1.89% to $3,477.
Ethereum is right there with a fall of 1.84%, now trading at $3,479.
At the same time, Bitcoin (BTC)’s price decreased by 0.9%, currently changing hands at $67,293.
Meanwhile, Telegram’s The Open Network (TON) blockchain has been outperforming Ethereum in terms of daily active addresses throughout this month. Delphi Digital attributed this to Telegram’s 900 million user base.
Synonym Launches the Bitkit Bitcoin Wallet on App Stores
In crypto news today, software company Synonym has announced that its self-custodial Bitcoin wallet Bitkit is moving from beta testing to full availability on the App Stores.
Per the press release shared with Cryptonews, the wallet supports Bitcoin on-chain and over the Lightning Network and is available to all.
“Today, users across iOS and Android platforms can access Bitkit, which combines a sophisticated, user-friendly interface with the security of self-custody,” said the team.
Notably, the wallet allows users to send and receive BTC without relying on third-party custodians.
Its creators remarked that “in a competitive market where custodial shortcuts are common, Bitkit distinguishes itself by remaining fully self-custodial.”
Synonym’s CEO, John Carvalho, stated that custodial wallets dominated the market since the Lightning Network started gaining traction in 2020.
However, this was at odds with the very essence of Bitcoin, he argued.
“Bitkit was created to counter this trend by offering a powerful, accessible, self-custodial alternative,” Carvalho said.
Meanwhile, in the future, Bitkit plans a comprehensive rewrite post-launch.
The team is also actively collaborating with “leading wallet developers” to define unified specifications for Lightning Service Providers (LSPs). This is a critical step towards broader Lightning Network adoption, they said.
Fetch.ai, SingularityNET, and Ocean Protocol Postpone Token Merger
The Artificial Superintelligence Alliance, a collective formed by Fetch.ai, SingularityNET, and Ocean Protocol, has announced a revised date for the ASI token merger.
It’s been moved from June 13 to July 15, 2024.
According to the press release, “this schedule adjustment is necessary to accommodate the logistical requirements and technical dependencies of exchanges, validators, and broader ecosystem collaborators.”
On July 15, FET, AGIX, and OCEAN will merge into the new ASI token.
Once third-party integrations are finalized, the ASI token will be launched.
At that point, FET, AGIX, and OCEAN will cease to trade independently.
The third-party dependencies are critical to the smooth execution of the token merger process, the team said.
They also must ensure that all stakeholders’ needs are adequately met.
Therefore, “while this delay is unfortunate,” it is a necessary strategic decision.
This way, the token merger will be carried out with the highest standards of accuracy and efficiency, the team remarked.
According to Humayun Sheikh, CEO of Fetch.ai and chairman of the Artificial Superintelligence Alliance, “while the finalization of the ASI token merger is now scheduled for July due to necessary adjustments by our partners, the commitment and vision driving this alliance remain stronger than ever.”
Minima Blockchain Powers On-Chain Race Data Logger for McLaren GT4 Supercar
In other crypto news today, decentralized and device-agnostic L1 blockchain for DePIN projects, Minima, is working with data platform Influx Technology to integrate a blockchain-powered data tracker into a McLaren GT4 supercar ahead of the Spa-Francorchamps in June.
Per the press release, the ‘DePIN Data Logger’ acquired the data directly from the car’s engine. It collects data points on over twenty parameters, including vehicle ignition timing, braking, oil pressure, engine temperature, steering angle and rotation, and gear switching.
Minima’s blockchain then secures it and provides immutable data provenance.
“This unseen approach promises to elevate data capture and analysis to unprecedented levels for the world’s most prestigious racing teams,” the announcement stated.
According to Oliver Plucknett, Race Lab team manager, the integration of blockchain into the data collection and transmission process is “a revolution for motorsport.”
Beyond just transferring data from a logger to a screen, it allows fans and officials to access relevant information in real time.
Minima’s capability to validate data as it is generated by the car, Plucknett said, “ensures that teams receive reliable data precisely when needed, allowing for those critical split-second decisions from the pit wall.”
Minima CEO and co-founder Hugo Feiler added that blockchain’s full potential has yet to be realized. “To achieve mainstream adoption, it must provide real-world utility and seamless integration. We are collaborating with Influx to resolve a real challenge faced by the automotive industry.”
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