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

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Crypto market is red today

The market has seen a significant drop today.

The global cryptocurrency market capitalization is down 9.5% over the past 24 hours, currently standing at $2.53 trillion.

At the time of writing, the daily crypto trading volume is $207 billion – higher than what we’ve been seeing over the past several days.

Notably, all top 100 coins per market cap are red at the time of writing. The biggest drops are Wrapped stETH (WSTETH)’s 16.9% and KuCoin (KCS)’s 16.4%. The two are currently trading at $1,780 and $7.99, respectively.

They’re followed by Movement (MOVE), with a drop of 15.9% to $0.3088. Many more coins on this list have recorded double-digit decreases.

As for the top 10 coins, five saw double-digit drops. The highest among these is Ethereum (ETH)’s 15.6% to the current price of $1,506. Next up is Dogecoin (DOGE), with a fall of 14.7%, now changing hands at $0.1395.

Tron (TRX) saw the smallest drop in this category. It is down 5.6% to $0.2257. At the same time, Bitcoin (BTC) is down 7% and below the $80,000 mark, currently trading at $76,954.

Bitget Continues Expansion, Says Chief Legal Officer

In an open letter published today, crypto exchange Bitget’s Chief Legal Officer Hon Ng stated that the company’s goal is to “comply, expand, operate, and grow.” Through these steps, the team aims to make crypto accessible to all people globally. “Each license and approval is a step closer to it,” Ng says.

Bitget has secured registrations and approvals in several markets, including Australia, Italy, Poland, Lithuania, the UK, the Czech Republic, and El Salvador. Now, the legal and compliance teams are working together to get more licenses in other jurisdictions worldwide. This will boost the exchange’s accessibility and credibility, Ng writes.

Furthermore, per the executive, Bitget’s major objective for 2025 is to refine it compliance protocols. It is in the process of implementing “a strong Know Your Customer (KYC) process.” This will optimize user verification, ensuring adherence to anti-money laundering and counter-terrorism financing regulations.

At the same time, the team is investing in advanced transaction monitoring tools. These tools will enable it to detect and prevent illicit activity, Ng claims. “Compliance is not an obligation, it’s a necessity; it’s about setting a standard for the industry and building a sustainable ecosystem for users,” he writes.

Besides regulatory advancements, the letter reads, Bitget is also working on introducing “innovative products that align with compliance requirements.” It is building stronger user protection, risk management features, and security measures, it states.

The Hashgraph Group Invests in AgNext Technologies

The Hashgraph Group (THG), a Swiss-based firm dedicated to the Hedera ecosystem, has announced a strategic investment in the agritech company AgNext Technologies.

Per the press release, the recent financing round was led by Novo Holdings, a holding and investment company headquartered in Denmark, with over $150 billion in assets under management.

Following this strategic investment by THG, AgNext will integrate Hedera’s DLT into its assurance and traceability platforms and devices. This move will enable traceability, transparency, immutability, and efficiency through self-executing smart contracts. Therefore, there will be no need for multiple intermediaries in the supply chains, which are driving up the prices, says the team.

Furthermore, AgNext and THG will collaborate on joint go-to-market initiatives. This includes co-branded, Hedera-powered embedded devices, available to clients globally through a new Web3-centric joint venture established in Switzerland.

AgNext leverages AI-driven quality assessment and blockchain-enabled traceability to enhance food safety and efficiency across the supply chain. It has operations in India, Europe, the Middle East, and the USA.

In 2021, the company raised $21 million in Series A funding led by Alpha Wave Incubation (AWI). Following this, AgNext opened its first international office in Abu Dhabi, UAE.

COCA Partners with Everstake to Launch Ethereum Staking

COCA, a non-custodial crypto wallet and financial services platform, has announced its strategic partnership with Everstake, a global non-custodial staking provider, to introduce ETH staking.

According to the press release, the collaboration enables COCA Wallet users to seamlessly stake ETH and receive staking rewards. Notably, there is no requirement for 32 ETH or advanced technical expertise.

Users can now stake “as little as 0.1 ETH, significantly lowering the barrier to entry and making staking more accessible to the broader crypto community,” the team says.

Additionally, they will also introduce staking for the native COCA token, Polygon, and Solana soon. The goal here is to expand users’ ability to participate in staking beyond Ethereum, the announcement says.

Moreover, Everstake has a slashing-free history and multiple security audits, it claims. Also, through the partnership, users get staking benefits while helping to secure the Ethereum network, the teams highlight.

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