What’s Happening In Crypto Today? Daily Crypto News Digest

__________

Why Is Crypto Up Today?

The crypto market is mostly red, with BTC breaking records and ADA re-entering the top 10 category.

The global cryptocurrency market capitalization is unchanged over the past 24 hours, standing at $2.69 trillion.

At the same time, the total crypto trading volume is $169 billion.

In the top 100 coins per market cap category, most coins are green, though the number of red coins seems to be climbing compared to the total greenery we saw two days ago.

Lido DAO (LDO) fell the most: 8.3% to $1.26, followed by Ethena (ENA)’s 8.1% to $0.4844.

Kaspa (KAS) is down 4.9% and MANTRA (OM) fell 3.2%, while the rest of the red coins’ prices decreased below 3% each.

On the other side, Cronos (CRO) is the day’s best performer. Its price increased by 21% to $0.1037.

There are two more double-digit rises in this category: Cardano (ADA)’s 15.6% and Neiro (NEIRO)’s 11%, trading at $0.42821 and $0.00232, respectively.

Now, when it comes to the top ten coins per market cap, we find them all green today.

The highest increase is the above-mentioned Cardano’s 15.6%. Thanks to this rise, the coin re-entered the top 10 category after quite a while, pushing Tron (TRX) to the 11^th spot.

ADA is followed by Solana (SOL)’s 8.3%, trading at $202.66.

The smallest increase is 0.3% seen by XRP (XRP), currently changing hands at $0.54993.

At the same time, Ethereum (ETH)’s price rose by 3.7% to $2,913, while Bitcoin (BTC) recorded a 1.6% rise, surpassing the $76,000 level, now standing at $76,008.

This comes after BTC briefly hit an all-time high of $76,872 less than a day ago.

Meanwhile, BlackRock, the world’s largest asset manager, saw a record-breaking $1.1 billion in inflows into its spot Bitcoin exchange-traded fund (ETF), IBIT. The record inflows follow two days of outflows totaling $113.3 million.

Modern Lion and Hyundai Card Partner with NEAR Protocol to Merge Web3 and Concert Culture

Blockchain-focused company Modern Lion and Hyundai Card joined NEAR Protocol in a strategic partnership to advance Web3 integration in the concert culture.

According to the press release, Modern Lion will address ticket scalping through its NFT platform KONKRIT.

It plans to do so by expanding its NFT-based ticketing solution to NEAR Protocol, “improving security and transparency in ticketing.”

Furthermore, said the partners, the collaboration will focus on supporting Hyundai Card’s event ticketing through NFTs, activating the NFT marketplace, and advancing NFT projects on KONKRIT.

It will include co-hosting events and joint marketing initiatives while building brand recognition and strengthening industry networks.

Modern Lion says it has successfully prevented scalping at events such as the ‘Hyundai Card Curated 92: Jang BEOM-JUNE’ concert and the immersive cultural experience ‘DaVinci MOTELl’ in the popular Itaewon area of Seoul.

“With NEAR Protocol’s speed, security, and scalability, Modern Lion is ready to make significant strides in the global market,” it said.

Meanwhile, NEAR announced several other partnerships as well. Yesterday, it revealed the Chain Abstraction Framework, which it powers with Socket Protocol.

Italy Minister May Review Tax Hike on Crypto – Report

Italy’s economy minister Giancarlo Giorgetti said he is open to reviewing proposals to raise a tax on cryptocurrency capital gains, according to a Reuters report.

“I am willing to consider different forms of taxation for people who keep investments in their portfolio,” the Minister said Thursday.

This follows pressure from some lawmakers in Giorgetti’s own party to backtrack and abandon the plan, the report notes.

Lawmaker Giulio Centemero argued that the previously proposed tax hike would be “counterproductive,” adding that “speculation should be taxed more.”

Centemero called for a dialogue with market players instead.

For context, the country’s Treasury intends to hike taxation on capital gains from crypto from 26% to 42%.

This is under the 2025 budget, which is waiting for the parliament’s approval by the end of this year.

Just a week ago, Giorgetti defended his decision to raise taxes as part of next year’s budget, despite pressure from some of his colleagues.

The ATP Unveils Sui and Trace-Powered ‘Momentum’ Limited-Edition Tennis Memorabilia

The Association of Tennis Professionals (ATP) has unveiled Momentum, a limited-edition collection of official memorabilia based on the 2024 Nitto ATP Finals in Turin, which will take place from 10 to 17 November.

According to the press release, Momentum is designed as an eight-day experience during which fans can claim Traces: digital memorabilia crafted from match data “that retell the story of tennis.”

Fans will also be able to claim a Trace from each of the 15 singles matches.

Each Trace is time-limited. Fans can claim it exclusively during a 24-hour window on match day.

The project team said Momentum was created in collaboration with Trace, a UK-based tech startup that provides proof of fandom through blockchain-based digital memorabilia.

Additionally, the official match data will be provided by Tennis Data Innovations (TDI).

__________

Bookmark this page and subscribe to our newsletter for the latest crypto news updates!

The post What’s Happening In Crypto Today? Daily Crypto News Digest appeared first on Cryptonews.