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

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

Get your daily, bite-sized digest of blockchain and crypto news today – investigating the stories flying under the radar of today’s news.

In crypto news today:

Why is crypto up today? Safe and Base Partner to Push Smart Accounts as the Default Standard of Ownership on Ethereum Aptos Foundation and zkMe Partner to Enhance On-Chain Security and Identity Trezor Expands Education Initiative to 20 More Countries Worldwide


Why is crypto up today?

Crypto is having a very green day.Total crypto market capitalization has increased by nearly 7% over the past 24 hours. According to CoinGecko, it sits at $2.236 trillion at the time of writing.Furthermore, a large majority of prices in the top 100 coins per market capitalization are up over the past day.Zooming into the top 10 group, we find that Bitcoin has increased the most: 10% to $56,305. It is keeping well above the $50,000 level.Moreover, Ethereum is up 5.4% to $3,231.“The market is exhibiting strong resilience across various aspects,” commented Matteo Greco, Research Analyst at Fineqia International.BTC maintains a price above $50,000, while altcoins perform well. Ethereum’s price exceeded $3,000.Furthermore,  “liquidity increases alongside high demand, as seen through inflows into BTC Spot ETFs and the surge in stablecoin supply,” said Greco. Additionally, with the BTC halving approaching in less than two months, the market anticipates another significant event that could impact market trends.”Following BTC, Solana and Avalanche are the day’s best performers, having appreciated 8% and 7%, respectively.The remaining coins are all up between 3% and 7%.Meanwhile, research from crypto exchange Bybit highlighted a growing institutional bullishness on ETH, driven by the expected positive impact of the next Ethereum blockchain update. The report said:

“While the upcoming upgrade will not likely lead to the same impact as the Merge, the potential successful implementation will likely bring a tailwind to ETH and other Layer 2 tokens.” 

And while institutional interest somewhat shifted from BTC to ETH over the past few months, retail users have relatively stronger optimism toward BTC compared to ETH, the report stated.

Safe and Base Partner to Push Smart Accounts as the Default Standard of Ownership on Ethereum

At the top of crypto news today, smart account infrastructure provider Safe has partnered with Base, the Ethereum Layer 2 (L2) network incubated by Coinbase, to offer financial incentives and modular tooling for developers building with smart accounts.According to the press release shared with Cryptonews, the initiative aims to empower developers to utilize smart accounts and make decentralized applications (Dapps) more accessible, secure, and efficient globally.The announcement stated that,

“To alleviate financial constraints and advance smart account adoption, Base is offering (up to) 1 ETH in gas credits to developers building on Safe in the program’s initial 12-month launch.”

Developers can use Safe{Core}, Safe’s modular and open-source stack, and leverage smart account infrastructure to build tools for various use cases on Base.Smart accounts enable key features for self-custody users, the teams explained. These include multi-signature transactions, account recovery, recurring payments, mirroring and improving the user experience in Web2, and expanding the use cases for on-chain.Meanwhile, self-custody applications built with externally owned accounts come with numerous user experience issues, the announcement warned.Nick Prince, Product Manager at Base, stated that,

“Smart account adoption is vital to making onchain apps easy to use for everyday people, and the key to unlocking this future-proof technology is reducing the barriers to developers.”

This gas fee credit program will incentivize developers to use the smart accounts’ power and make it easier for builders to help create a more accessible on-chain ecosystem, Prince said.Safe co-founder Lukas Schor commented that a scalable and dynamic solution is badly needed, given that there are more than 230 million unique Ethereum addresses worldwide, while daily L2 transactions surpass L1 transactions.By combining Safe’s modular smart account infrastructure with Base’s native account abstraction support, the two teams are helping smart accounts become the default standard for Ethereum developers, they said.Safe noted it supports over 6 million smart accounts and has facilitated over 30 million transactions.

Aptos Foundation and zkMe Partner to Enhance On-Chain Security and Identity

The Aptos Foundation, the entity supporting the development of the Layer 1 blockchain Aptos Network, has partnered with blockchain-based identity solutions platform zkMe.The goal is to provide an accessible and direct way for users to verify identities on-chain while keeping their own identities safe, said the press release shared with Cryptonews.It stated that,

“With this partnership, zkMe’s identity oracle will be integrated into the Aptos ecosystem and will be automatically available to all developers and creators building on Aptos.”

Alex Scheer, Founder and CEO of zkMe, commented that the oracle will help strengthen Aptos’ security.Bashar Lazaar, Head of Ecosystem and Grants at Aptos Foundation, added that zkMe’s vision is to create a decentralized, secure internet. This integration, he said, will help the Aptos Foundation to provide a safe environment for users “to embrace and expand what’s possible on Web3.”Meanwhile, Aptos’ ecosystem consists of more than 200 launched projects. Since Mainnet, the blockchain has seen 300 million transactions and 7 million addresses created.On its side, zkMe’s uses a protocol that ensures personal data and personally identifiable information (PII) is used only as a decentralized input and remains undisclosed to third parties.Additionally, the zkMe identity oracle allows cross-chain verifications to enable interoperability with other blockchains. This enables easy client onboarding with user authentication and identity protection.

Trezor Expands Education Initiative to 20 More Countries Worldwide

In other crypto news today, popular Bitcoin wallet Trezor has announced the planned expansion of its education program, Trezor Academy, to twenty more countries worldwide.Trezor Academy has been running meetups, workshops, and Q&A sessions in six African countries in 2023.The newly added countries now include Mexico, South Africa, Indonesia, and Kenya.Per the announcement,

“Trezor [has committed] to provide a minimum of three programmes per month with a total of 40 Trezor Academy programmes throughout 2024.”

Each program consists of three meetups that provide a platform for attendees to learn about the benefits of Bitcoin through a Trezor curriculum contributed to by Trezor Bitcoin Analyst, Josef Tetek. In turn, students are encouraged to become educators themselves and continue the program to “reach thousands more individuals.”  The Bitcoin community has made Trezor Academy possible, the announcement said. It explained that €21 Euro from each sale of the limited edition, bitcoin-only version of the recently launched Trezor Safe 3 hardware wallet has been pledged to fund this education work.As part of the Trezor Academy project, Trezor is funding the branded Land Rover Bitcoineta, in conjunction with Bitcoin Cowries. It is touring the Economic Community of West African States (ECOWAS), spreading Bitcoin education to rural communities and schools in Ghana, Togo, Benin, and Nigeria.Trezor CEO Matěj Žák commented that developing countries “are a perfect example of how, by applying the unique properties of Bitcoin, individuals can achieve financial self-sovereignty.  That may sound like an ideal, but in countries where financial systems are not as inclusive, Bitcoin improves access to payment schemes, microfinancing, and savings for everyone. The results can be dramatic.”

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

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