Crypto traders are turning increasingly bearish on the BNB token that serves as the centerpiece of the embattled Binance digital-asset trading platform. CLabs, the Celo blockchain developer, proposes transitioning from an independent layer-1 blockchain to an Ethereum layer-2 solution. Dominant data oracle Chainlink launched its Cross-Chain Interoperability Protocol (CCIP) on its Mainnet today. With this crypto daily roundup, you can jumpstart your day with the latest updates on cryptocurrencies like Bitcoin, Ethereum, and more.
Bitcoin, Ethereum, and other cryptocurrencies traded lower on Tuesday. Other popular altcoins like Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) — landed in the reds across the board. The SUI token became the top gainer, with a 24-hour jump of over 10 percent. The global crypto market cap stood at US$1.2 trillion, with a volume of nearly US$35.1 billion in the past 24 hours.
Coinbase Chief Executive Brian Armstrong will meet privately with a group of Democrats from the United States House of Representatives and plans to make remarks on the future of digital asset legislation.
The meeting on Wednesday comes as Coinbase and Binance – two of the world's largest crypto exchanges – are grappling with lawsuits brought by the US Securities and Exchange Commission (SEC) for allegedly failing to register their operations with the agency.
CLabs, the Celo blockchain developer, proposes transitioning from an independent layer-1 blockchain to an Ethereum layer-2 solution.
The team announced the proposed move over the weekend in a Twitter thread, saying it followed "months of research and initial discussions with Celo and Ethereum community members."
"An indicative on-chain governance proposal (or 'temperature check) will be released for the community to vote on as early as Saturday, July 22," according to the thread.
Crypto traders are turning increasingly bearish on the BNB token that serves as the centerpiece of the embattled Binance digital-asset trading platform.
The negative sentiment Is most reflected in the perpetual swap market, a type of futures contract used in cryptocurrency markets that do not expire. Data from Coinglass shows that the open interest-weighted funding rate turned negative this weekend, meaning that speculators betting on a price decline are willing to pay those counting on gains to keep their bearish positions on BNB open.
Dominant data oracle Chainlink launched its Cross-Chain Interoperability Protocol (CCIP) on its Mainnet today. The early access phase supports Avalanche, Ethereum, Optimism, and Polygon (MATIC) networks, with CCIP also adopted by DeFi lending protocols Aave and Synthetix.
Chainlink says the protocol is behind the same security model that powers price oracles—designed to be flash-loan attack resistant and able to withstand other commonly known threats.
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