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

In crypto news today:

• Crypto market is green today
• Stablecoins Trading Volume on Track for Record Yearly Highs
• New ZK-Bridge Linking Cardano and Midnight Proposed by Wanchain
• Attack on Titan Launches Tower Defense Game in The Sandbox

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Crypto market is green today

The global cryptocurrency market capitalization shifted gears today. It’s up 1.3% over the past 24 hours to $3.47 trillion.

During this time, the total crypto trading volume recorded was $270 billion.

The large majority of the top 100 coins per market cap are green.

As for the top 10 coins, at the time of writing, all have seen their prices rise.

Ethereum (ETH) appreciated 5.8% to $3,622, while Bitcoin (BTC) rose 2.1% to $95,406.

Read more below.

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Stablecoins Trading Volume on Track for Record Yearly Highs

In crypto news today, in November, the trading volume for stablecoin pairs on centralized exchanges increased by 77.5% to $1.81 trillion, according to CCData’s Stablecoins & CBDCs Report.

The analysts found that trading volumes are “on trend to record a yearly high.” This would mean surpassing the previous high recorded in March.

These moves are “buoyed by the heightened institutional confidence in the asset class with the industry braced for a period of favorable regulation under the new US government,” the report argued.

USDT is still the most-traded coin among its peers, accounting for 82.7% market share among the top stablecoins on centralized exchanges.

FDUSD is the second most-traded stablecoin with a market share of 9.01%, while USDC has 8.09%.

Source: CCData

In November, the total market capitalization of the stablecoin sector jumped by 9.94%, hitting $190 billion.

Therefore, it surpassed the previous all-time high of $188 billion recorded in April 2022, prior to the TerraUSD collapse.

Additionally, this was the highest month-on-month increase in market capitalization since November 2021, said the report.

“November marked the fourteenth consecutive increase in end-of-month market capitalization, reflecting the growing demand for stablecoins since October 2023,” it concluded.

Source: CCData

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New ZK-Bridge Linking Cardano and Midnight Proposed by Wanchain

Decentralized blockchain interoperability solution Wanchain revealed plans for a new decentralized cross-chain bridge linking the Cardano and Midnight mainnets.

Midnight is Cardano’s first partner chain, said the press release, and also a new data protection Layer-1 (L1) blockchain.

The bridge will employ a novel Zero Knowledge Proof (ZKP) relay mechanism. Users will be able to seamlessly transfer digital assets between the Cardano and Midnight networks, such as Cardano’s native ADA and one of Midnight’s two tokens, NIGHT.

The bridge will leverage ZKP technology to ensure the privacy and security “that is crucial for Midnight’s data privacy-focused ecosystem,” said the announcement shared with Cryptonews.

Wanchain has submitted a proposal that would initiate the development of the new ZKP-based bridge mechanism to Cardano’s Catalyst platform.

Community members can cast their votes using ADA until 12 December.

The team noted that the proposal’s primary goal is to secure funding to develop the new ZK mechanism.

“A successful vote will not only fund the project, but also signal a commitment from the community to push for blockchain interoperability,” the announcement said.

Wanchain CEO Temujin Louie commented that connecting Midnight is “an exciting proposition as it offers unique features that can benefit the entire blockchain industry. The application of zero-knowledge proof technology to cross-chain bridges is a similarly valuable innovation.”

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Attack on Titan Launches Tower Defense Game in The Sandbox

In other crypto news today, the manga Attack on Titanhas entered the metaverse with the Attack on Titan: Invasion experience in the decentralized metaverse The Sandbox.

Users play as new recruits who enter the battle after extensive training.

They step into the world of the famous manga and face against the Titans to save humanity.

Additionally, they work and fight alongside famous characters such as Eren Yeager, Mikasa Ackerman, and Armin Arlert.

To win, players must initiate the final quest with Eren.

“The success or failure of the invasion will hinge on the player’s ability to defeat the onslaught of Titans and protect the denizens of the Trost District,” said the announcement.

The Attack on Titan: Invasion experience in The Sandbox is free and available on Windows PCs and Mac OS devices.

Meanwhile, the Sandbox recently kicked off Alpha Season 4 (AS4), already surpassing player and engagement records set by Alpha Season 3, which debuted in 2022.

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