What’s Happening In Crypto Today? Daily Crypto News Digest
In crypto news today:
- Crypto market is green today
- Omni Network Launches Mainnet to Unify Rollup Ecosystems
- HTX Ventures Identifies Five Rapidly-Growing Sectors in 2024
- Nearly 800 Arrested Over Crypto-Romance Scam
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Crypto market is green today
The market has turned green today, albeit mildly so.
The global cryptocurrency market capitalization is unchanged over the last 24 hours, recording just a 0.1% increase. At the time of writing, it stands at $3.94 trillion.
Also, the daily crypto trading volume is $296 billion.
At the same time, 66 of the top 100 coins per market cap have seen their prices drop, and 44 are up.
But at the same time, the increases outweigh the drops.
As for the top 10 coins, only two are down and by less than 0.5%: Solana (SOL) and Dogecoin (DOGE).
The top increase is XRP (XRP)’s 8.2% to $2.58.
Bitcoin (BTC) is up 2.6% to the price of $107,351, while Ethereum (ETH) appreciated 1.8%, trading at $4,016.
Read more below.
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Omni Network Launches Mainnet to Unify Rollup Ecosystems
In crypto news today, Omni Network has announced the mainnet launch of Omni Core, the base layer of the Omni Orderflow Engine, comprising a cross-chain messaging protocol and an EVM, secured by Ethereum through restaking.
The press release shared with Cryptonews, explained that there is some $58 billion in TVL be scattered across more than 40 networks due to the rise of rollups.
Omni says it works to solve that. Its architecture enables interoperability among rollups and Ethereum L1 with minimal latency, “reuniting the Ethereum ecosystem.”
Therefore, Omni Core is a decentralized and low-latency protocol for cross-rollup communication.
Core supports seamless interoperability among major Ethereum-compatible networks, including the Layer 1, Arbitrum, Optimism, and Base, representing over 90% of total value-locked across the Ethereum ecosystem.
Additionally, Omni Core is built using the Octane framework, a new open-source protocol architecture that runs separate consensus and execution environments in parallel.
Moreover, Core will work together with SolverNet in Omni’s Orderflow Engine to abstract away any cross-rollup interaction and complexities from both users and developers.
The SolverNet launch is expected in the first quarter of 2025.
Once completed with SolverNet’s launch, Omni Orderflow Engine will allow “users to perform any action on any rollup in under one second.”
1 day to go…
🟦🟦🟦🟦🟦🟦🟦🟦🟦⬜️ 99.9% pic.twitter.com/tH9AioN0hN
— Omni Network (@OmniFDN) December 16, 2024 You might also like Cross-Chain Bridges: What Are They & How Do They Enable Blockchain Interoperability?
HTX Ventures Identifies Five Rapidly-Growing Sectors in 2024
HTX Ventures released its 2024 Year In Review, forecasting market trends for 2025 as well.
It found five key sectors that showed progress in 2024 and will likely continue to rise next year. These are the Bitcoin Ecosystem, Infrastructure, Meme Coins, AI, and the TON Ecosystem.
As for Bitcoin, its dominance reached 56.81%, the price surpassed $107,000, and spot ETFs account for 5.3% of the total Bitcoin supply.
Source: HTX, CoinStats
Spot ETFs act as liquidity channels, while US-listed companies such as MicroStrategy (MSTR) serve as “the vehicles to absorb unlimited dollar liquidity.”
“As a result, it is increasingly essential to further develop Bitcoin’s ecosystem and enhance capital utilization efficiency,” the report said. “It has driven infrastructure projects, including Layer 2s, execution layers, interoperability solutions, and security layers, to continuously emerge.”
All this said, the researchers expect a further surge in Bitcoin demand over the next two years.
Speaking of infrastructure, the report stressed that it is “still imperative” in crypto investments and funding.
Specifically, Layer-1 solutions are the focus of technical development and exploration within the crypto space, as well as a priority for development resources and capital investment. This will not change in the coming years.
Source: HTX, Cryptokoryo_research
Meanwhile, meme coin infrastructure will continue “injecting more vitality” into the sector as multi-chain ecosystems mature and real-world use cases expand, the report said.
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Nearly 800 Arrested Over Crypto-Romance Scam
In other crypto news today, Nigeria arrested 792 suspects who allegedly used romance scams to lure victims into giving them crypto, Reuters reported.
The authorities raided a luxury building suspected to be the fraudsters’ hub, where they had set up a call center mostly targeting victims from the Americas and Europe.
Agents seized computers, phones, and vehicles.
The Nigerian authorities were collaborating with international agencies and will look into potential links to organized crime.
The Economic and Financial Crimes Commission spokesperson Wilson Uwujaren said that the arrested suspects include 148 Chinese and 40 Filipino nationals.
“Nigerian accomplices were recruited by the foreign kingpins to prospect for victims online through phishing, targeting mostly Americans, Canadians, Mexicans, and several others from European countries,” Uwujaren said.
These scammers contact people through social media and messaging platforms, working to seduce them and then offering them fake investment opportunities.
Victims would send money for non-existent projects.
“Once the Nigerians are able to win the confidence of would-be victims, the foreigners would take over the actual task of defrauding the victims,” Uwujaren said.
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Source: cryptonews.com
