In crypto news today:
- Why is crypto up today?
- BitMEX Launches Automated Trading Bots
- Fetch.ai and Imperial College Launch Innovation Lab
- Ex EU Parliament Member Chosen as Director of Nym’s Privacy Alliance
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Why is crypto up today?
The global cryptocurrency market capitalization fell again today. Over the past 24 hours, it decreased by 1.2% to $2.22 trillion.
The total crypto trading volume in the last day is $90.9 billion.
Looking at the top 10 coins per market cap, we find about half of them in the green today.
Uniswap (UNI) leads this category with a 9% rise to the price of $8.06.
Dogwifhat (WIF), Popcat (POPCAT), and MANTRA (OM) follow with increases between 7.9% and 7.1%.
The rest are up 4% and lower.
As for the red coins, Conflux (CFX) and Aptos (APT) sit at the top, having recorded decreases of 5.6% and 5.5% to $0.1662 and $8.05, respectively.
Fantom (FTM) and Helium (HNT) fell around 4% each, while the rest of the list decreased by 2.5% and less.
In the top-10-coin category, we find the same situation. Half are up, half are down.
XRP (XRP) and Solana (SOL) are the best performers over the past day. Their prices now stand at $0.53535 and $141.46, having increased by 1.5% and 1.1%.
On the other hand, Binance Coin (BNB) and Tron (TRX) dropped the most in the same period. The former fell 1% to $563.63 and the latter 0.7% to $0.15829.
Bitcoin (BTC)is down less than 0.5%, currently trading at $60,625.
But Ethereum (ETH) appreciated 0.5%, changing hands at $2,408.
However, at one point, during the US session, BTC fell sharply below $59,000, largely due to the higher-than-expected US CPI numbers for September. They showed inflation rising 2.4%, surpassing the market’s forecast of 2.3%.
These inflation figures also triggered concerns about a potential US Federal Reserve’s hawkish stance, possibly delaying interest rate cuts.
Uniswap Labs Launches Layer 2 Unichain
In crypto news today, Uniswap Labs, the company behind the Uniswap decentralized exchange (DEX), unveiled its Unichain, a new Ethereum-based Layer 2 (L2) blockchain, in collaboration with the Uniswap Foundation, Optimism, and Flashbots.
The private testnet is live today, while the public mainnet will go live later this year.
According to the press release, Unichain is an open-source project powered by the Optimism Superchain, while the team aims to create a network of interoperable blockchains.
It will prioritize cross-chain interoperability to address liquidity fragmentation in DeFi.
Therefore, the novel chain is designed for faster and cheaper transactions, as well as improved liquidity across chains, the team said.
Unichain testnet goes live today, with mainnet coming soon
Start buildinghttps://t.co/CVQkV26V6t
— Unichain (@unichain) October 10, 2024
Built on the popular Optimism, Unichain is “enhanced by unique technical advancements developed by Uniswap Labs in collaboration with the industry’s top minds in research and development.”
Initially, it will have one-second block times and will be optimized to meet 200-250 milliseconds block times.
Additionally, the announcement said that the chain introduced two new technical innovations developed in partnership with Flashbots.
The first is the trusted execution environment (TEE) for block building. The second is a community validation network.
Hayden Adams, CEO of Uniswap Labs, commented that “Unichain will deliver the speed and cost savings already enabled by L2s, but with better access to liquidity across chains and more decentralization.”
You might also like Uniswap Labs Surpasses $50 Million in Cumulative Front-End Fees
Sky Injects $5 Million Immediate Liquidity into Aave’s Lido Market
Decentralized finance lender Sky (formerly MakerDAO) has deployed a 5 million liquidity injection of Sky’s stablecoin USDS into Aave’s Lido market via Spark.
An email sent to Cryptonews said that, based on borrowing demand, this supply can be further increased.
An initial 100 million USDS maximum debt ceiling is set.
Founder of Aave Labs Stani Kulechov commented that “our recent Sky Aave Force initiative aims to expand DeFi access globally. This update offers users more opportunities and benefits to engage with DeFi and is a key step towards our mission of making DeFi more accessible to everyone.”
This move follows the onboarding of USDS to Aave earlier this month. USDS suppliers on Aave are now earning SPK and USDS rewards, the announcement said.
It added that the Sky Savings Rate (SSR) increased to 6.5%, while the Dai Savings Rate (DSR) decreased from 6% to 5.5%.
“Both these measures will further incentivize USDS deposits by users and help grow USDS supply which has already surpassed 1 billion within a month of launch.”
First USDS supply cap almost reached on @aave’s Ethereum Market in just days! https://t.co/p80dDftCAn
— Sky (@SkyEcosystem) October 10, 2024
You might also like Exclusive: Rune Christensen on MakerDAO’s Vision for DeFi and the Future of Finance
CleanSpark Achieves 30 EH/s
In other crypto news today, North American Bitcoin miner CleanSpark announced it has achieved 30 EH/s (exahashes per second) in operational hashrate.
According to the press release, its hashrate has surged 200% since October 2023.
In the same period, the company boosted its efficiency by nearly 20% and the number of operational machines by 112%.
These numbers are the result of “significant organic growth paired with turn-key acquisitions and the execution of a fleet upgrade.”
The efficiency improvement strategy led to increased computing power, consuming less energy, and allowing for more hashrate to be generated with fewer machines.
30 and thriving!
We've achieved the incredible milestone of 30 EH/s in operational #hashrate, a 200% increase since October 2023, through significant organic growth paired with turn-key acquisitions and the execution of a fleet upgrade.
Our efficiency was improved during… pic.twitter.com/Osi3EVdrId— CleanSpark Inc. (@CleanSpark_Inc) October 10, 2024
CEO Zach Bradford commented that “reaching 30 EH/s positions us as one of the largest bitcoin miners in the world. We have added more operational hashrate than any other miner in 2024.”
CleanSpark expects to surpass 37 EH/s before the end of 2024. In 2025, it aims to hit 50 EH/s and more.
They expect more hashrate to come online following the acquisition closing of GRIID Infrastructure this month.
“During this period of rapid expansion of our operations, we have also grown our bitcoin treasury to over 8,049 bitcoin,” Bradford added. “Since October 2021, we have significantly increased our computing power year over year by quadrupling in 2022, nearly doubling in 2023 and tripling our hashrate in 2024.”
You might also like CleanSpark to Acquire Seven Bitcoin Mining Facilities in Tennessee for $27.5M
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The post What’s Happening In Crypto Today? Daily Crypto News Digest appeared first on Cryptonews.
