Daily Crypto News Digest: Crypto Market Down Today: Market Cap Drops 3.2%

Daily Crypto News Digest: Crypto Market Down Today: Market Cap Drops 3.2%

The global cryptocurrency market capitalization has fallen by 3.2% over the past 24 hours, currently standing at $2.15 trillion. The total cryptocurrency trading volume in the last day is $78.4 billion.

Among the top 100 coins by market cap, only two have seen price increases. Notcoin (NOT) is up 2.2%, trading at $0.01535, while Starknet (STRK) has increased by 2.1% to $0.566. On the other hand, meme coins PEPE and Dogwifhat (WIF) have seen the biggest losses, falling by 10.2% and 10%, respectively.

All top 10 coins by market cap are in the red. Toncoin (TON) and Dogecoin (DOGE) fell the most, down 4.5% to $7.18 and 4.3% to $0.1049, respectively. Binance Coin (BNB) fell the least, down 1% to $503.2. Bitcoin (BTC) decreased by 2.43%, now trading at $55,817, while Ethereum (ETH) saw a 2.34% decrease, trading at $2,932.

In other news, Germany possesses 39,826 BTC, valued at approximately $2.2 billion, representing around 9% of BTC’s 24-hour trading volume, which is currently $25.3 billion, according to Arkham Intelligence.

Nuklai and Filecoin Foundation Collaborate to Archive Global Data

Nuklai, a collaborative infrastructure provider for data ecosystems, announced a strategic collaboration with the Filecoin Foundation to archive the world’s data. This partnership aims to empower AI with contextualized data ontology through Filecoin’s decentralized network using Lighthouse Storage’s solution for efficient data storage.

Nuklai’s goal is to store data efficiently, transparently, and in a decentralized manner. The team has implemented three key steps: defining and decentralizing the context of the data within the metadata, standardizing data to make it more efficient and interoperable, and storing the data using Filecoin’s data storage network. The data will remain accessible through Nuklai, and data ownership will be retained by the owner.

Taiwan’s Central Bank: Digital Currency Promotion Will Be a Long Process

Taiwan’s central bank announced it has no timetable for launching a central bank digital currency (CBDC) but is actively working on it. In a report to parliament, the bank stated that promoting a CBDC is a complex project that will take a long time. The bank emphasized the need for extensive communication and public engagement, planning public hearings and forums next year to educate people about the currency.

The central bank is currently piloting a government-run digital currency, which would enable people to use a digital wallet instead of debit/credit cards.

KuCard Expands to Support Multiple Virtual and Physical Cards

KuCard, a Visa debit card by crypto exchange KuCoin, will support multiple virtual and physical cards starting July 1. This move aims to provide users with financial flexibility, convenience, and accessibility, enabling seamless management of multiple cards for various purposes, including personal use, family expenses, or different spending categories.

KuCard offers crypto-to-fiat conversion and cashback rewards. To celebrate the expansion, KuCard is offering a limited-time promotion until July 7, allowing users to apply for a second virtual card for free or a second physical card for EUR 9.99. Additionally, KuCard recently launched cashback programs offering up to 3% cashback on purchases, with tiered rewards based on spending.

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