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

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Crypto market is green today

The crypto market has turned green over the past couple of hours.

The global cryptocurrency market capitalization has declined by 0.7% over the past 24 hours to $3.46 trillion. This is higher than the $3.42 trillion recorded on Monday. At the time of writing, the daily crypto trading volume is $87.1 billion, still relatively low.

Of the top 10 coins per market capitalization, four are down and four are up (not considering the two stablecoins).

Bitcoin (BTC) appreciated 1.3%, breaking through the $106,000 level and currently trading at $107,118. Ethereum (ETH) is up 0.3%, meaning it’s unchanged, now changing hands at $2,521.

The category’s best performer is Solana (SOL), having appreciated 2.1% to the price of $153. XRP saw the biggest decrease: 1.3% to $2.24.

Moreover, just over half of the top 100 coins have turned green over the past few hours. SPX6900 (SPX) is the highest gainer, with a rise of 11.6% to $1.32. On the other hand, Stellar (XLM) fell the most: it’s down 2.4% to $0.2654.

Galaxy Ventures Backs RISE Chain, $8M Raised

RISE, a blockchain scaling Ethereum, announced a $4 million investment from Galaxy Ventures, bringing total funds raised to date to $8 million.

According to the announcement, this latest funding round will enable RISE to continue to develop the next generation of blockchain applications. It will use the funds to support product and app development in the lead-up to mainnet launch. Builders can explore the testnet.

The RISE team claims to have developed a “breakthrough transaction architecture.” It’s powered by Shreds and enables latency as low as 5 milliseconds. “This is especially significant for advanced DeFi use cases such as orderbook strategies, options, high-frequency trading, and market making,” it says.

RISE launched its public testnet earlier this month, which has already reached over 2 billion transactions, including over 50,000 transactions processed in a single 1-second block. “This enables developers to experiment and build onchain apps that operate with a new standard of performance, introduced as ‘Infinite Speed’: real-time performance, decentralized,” RISE says.

BitMEX Launches June Trading Competition With 3 BTC Prize Pool

The BitMEX exchange has announced the launch of its June Jumpstart Trading Competition. All participating traders can compete for their share of a 3 BTC prize pool.

Per the press release, the competition will run from 6 June until 30 June. Traders can participate in the competition anytime during the campaign period. New customers must be fully verified on BitMEX to join the competition.

The exchange will distribute rewards across three leaderboards. First, the top 100 traders ranked by trading volume will share 80% of the total prize pool.

Moreover, the top 100 traders ranked by PnL (Profit and Loss) will share 10% of the total prize pool, and the top 100 traders ranked by ROI% (Return on Investment) will share another 10% of the total prize pool.

Lastly, all new traders who join the competition also have the opportunity to win their share of an additional 10,000 USDT prize pool based on their trading volume, the team says.

MEXC Reveals New Launchpad, Surpasses 40M Users

The MEXC exchange has announced that its global user base surpassed 40 million, up from 30 million in December 2024. This is a 33% increase in five months, the press release says.

Moreover, the exchange listed 214 new tokens in May, and trading volume linked to these listings increased by 46.7%. Also, average trading volume per user increased by 45.09%, “signaling rising user engagement and growing confidence in MEXC’s early-stage project selection,” the team states.

MEXC’s total daily trading volume reached $4.1 billion. It hosted 58 Airdrop+ campaigns, with a combined prize pool exceeding 3 million USDT and nearly 40,000 users. Meme coins were still “a major force in May, with retail-driven tokens from Solana and BNB Chain dominating charts.”

Additionally, the exchange has officially launched its new Launchpad, with participation open to everybody. Users can directly subscribe to project offerings using USDT or other designated tokens. Allocations are distributed on a proportional basis, with simple tasks, point farming, or influencer-driven campaigns.

There are two primary models available. With a full subscription, tokens are allocated directly based on the invested amount. With oversubscription, allocations are shared proportionally among participants when demand exceeds supply.

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

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