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

Last updated: May 7, 2024 09:17 EDT | 4 minutes of reading

Get your daily blockchain and crypto news digest today – delving into the stories flying under today’s news radar.

In today’s crypto news:

• Why is crypto hot today?
• dWallet Network integrates with Celo
• Solana-Based Social Rewards App Cupcake Launches as Engaging Entry Point
• ‘Graham Tuckwell needlessly wasted WisdomTree’s time and resources,’ letter says

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Why is crypto hot today?

The global market capitalization of cryptocurrencies today fell 1.8% in the last 24 hours, currently standing at US$2.49 trillion.

Of the top 100 coins by market cap, only 11 are green today.

The best performance in this category is Render (RNDR). It rose 5.5% to $10.56.

It is followed by Arweave (AR)which rose 4.7% to US$40.63.

On the other hand, BONK’s 9.8% is the biggest loss in this category. This coin is currently trading at $0.00002507.

Furthermore, only one coin in the top 10 by market cap saw an increase in its price in the last day.

Source: cryptonews.com/coins/

Solana (SOL) rose 1.7% to trade at $158. This makes it the day’s winner in this category.

At the same time, Dogecoin (DOGE) saw the biggest drop. It fell 5.26% to $0.15855.

The remaining coins on this list fell between 4% and 0.5%.

Bitcoin (BTC) the price fell 1.4%, now trading at $64,204. Ethereum (ETH) decreased by 2.7%, now changing hands at $3,122.

Meanwhile, US spot Bitcoin ETFs saw a net inflow of US$ 217 million on Monday, after a period of massive departures.

GBTC in grayscale managed a modest $3.9 million inflow, marking its second positive day in a row.

Also in the USA, the Security and Exchange Commission (SEC) postponed his decision in Ethereum exchange-traded funds (ETFs) once again for another 60 days.

dWallet Network integrates with Celo

In today’s crypto news, dWallet Networkthe infrastructure for programmable natives Bitcoinannounced today that it will support Celothe EVM-compatible, mobile-first blockchain network.

According to the press release, dWallet Network will enable Celo ecosystem developers to utilize decentralized, non-collusive building blocks to create native multi-chain decentralized finance (DeFi) applications.

Source: dWallet, Celo

Additionally, dWallet’s primitive integration means that applications built on Celo can natively sign transactions with other networks – including Bitcoin, Ethereumand much more – using the elliptic curve digital signature algorithm (ECDSA) signature scheme.

Therefore, Celo users can now natively access BTC, ETH, SOL and more, bringing greater security and programmability to the Celo ecosystem.

“All of this is possible through dWallet’s decentralized, non-collusive multi-chain layer – and it’s just the beginning,” said the team.

Also the edDSA It is Schnorr Support for subscription schemes will be added in the near future, they added.

Solana-Based Social Rewards App Cupcake Launches as Engaging Entry Point

Sconea new social rewards app designed to be a fun, rewarding and engaging crypto entry point, launched today.

According to the press release, Cupcake is a SolanaPrincipled “cultural layer” that encourages and rewards active social engagement.

Additionally, it is “celebrating crypto culture and enabling project discovery.”

This is done through games where players accumulate experience points (Universal Baking Income, or UBI) and cupcakes (Proof of Cake), and win prizes tracked in the Bakeshop.

Source: Cupcake

“The ongoing feed of TikTok-style social mini-games features conversation starters like “would you rather,” “caption,” or “two truths and a lie,” all centered around memes and key moments in crypto culture,” the announcement said.

Additionally, the ecosystem is updated weekly with new games and leaderboards.

In this way, the mobile-first web app aims to make crypto accessible, fun, and engaging for the general public.

“To achieve mainstream consumer adoption of crypto, we need to make the complex ideas of crypto networks easy to understand through games that explore what makes us human: connecting with others, enjoying friendly competition, being creative and showcase our unique selves,” said Chris Liquin, CEO of Cupcake.

Created by B+J Studios and its co-founders Jordan Prince and Bartosz Lipiński, Cupcake is launching with branded content and partner rewards including The cool, Cube, Moutai memecoin, SolCasinoIt is BONADO.

‘Graham Tuckwell wasted WisdomTree’s time and resources,’ letter says

In other crypto news today, asset manager Tree of Wisdomknown for its spot Bitcoin exchange-traded fund (ETF), published a letter to interested parties inciting shareholders vote “in favor” of all nominated directors.

It stated that “dissident shareholder Graham Tuckwell, founder and chairman of ETFS Capital Limitadahas launched another disturbing campaign against three of WisdomTree’s directors.”

This is his third attempt against the Council in three years, he added. It is “a waste of time and resources”.

Tuckwell is WisdomTree’s largest shareholder and has criticized the company, saying it is neglecting its ETF offering in favor of its decentralized finance (DeFi) offering.

The company wants shareholders to support all nine directors of WisdomTree, “including the three directors against whom Mr. Tuckwell is currently campaigning.”

These are Jonathan Steinberg, Win Neuger and Anthony Bossone.

Tuckwell’s “misguided campaign” will only distract the company from achieving its long-term goals, he said.

“There are no reasons for change. Repudiate ETFS Capital’s misguided and disturbing actions – enough is enough,” wrote WisdomTree.

Furthermore, the company’s Board unanimously supports its strategy.

Two of the current Board members were previously appointed by Tuckwell, now supporting the entire Board “in the belief that we have the right strategy, the right Board and the right management team to succeed”.

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