In crypto news today: Crypto market is red today Gravity Upgrades to Chainlink CCIP Polkadot’s Acurast Lets iPhone Users Power the Cloud and Earn Rewards Sophon Debuts as First Validium on Avail with $500M TVL __________ Crypto market red today The market continues to drop. The global cryptocurrency market capitalization fell 4.7% over the last 24 hours, now standing at $3.68 trillion. At the time of writing, the daily crypto trading volume is $333 billion. Also, just 5 of the top 100 coins per market cap have seen their prices rise today, while the rest are down. Just like yesterday, the prices of all the top 10 coins have decreased. Dogecoin (DOGE) recorded the highest drop: 6.9% to $0.35936. Bitcoin (BTC) is down 2.3% to the price of $101,688, while Ethereum (ETH) decreased by 5%, trading at $3,670. Read more below. You might also like Why Is Crypto Down Today? Gravity Upgrades to Chainlink CCIP In crypto news today, Layer 1 blockchain Gravity , announced that it would upgrade from LayerZero to the Chainlink standard for secure cross-chain interoperability for the launch of its layer-1 blockchain. According to the press release, Chainlink CCIP will serve as Gravity’s canonical cross-chain infrastructure. The upgrade will enable developers to build cross-chain applications that increase the reach and adoption of Gravity. Chainlink CCIP provides important benefits and features, including defense-in-depth security, secure token transfers, and programmable token transfers. Gravity will upgrade to the @chainlink CCIP standard for secure cross-chain interoperability https://t.co/IGItO0XfRM pic.twitter.com/rwrKcxOT7d — Gravity (@GravityChain) December 18, 2024 Additionally, Gravity will adopt the Cross-Chain Token (CCT) standard (cross-chain-native assets) for its native token, G. CCTs provide developers with “self-serve deployment capabilities, full control and ownership, enhanced programmability, and zero-slippage transfers,” the team said. Meanwhile, Gravity utilizes technologies like zero-knowledge proofs, staking-powered mechanisms, and innovative consensus models to deliver high performance, robust security, and cost-efficient transactions. Key features include gas abstraction and efficient ZKP verification. With the novel upgrade, developers will be able to build various Web3 solutions, from asset management to loyalty programs, said the announcement. You might also like Exclusive: Galxe CEO Harry Zhang on Digital Identity, AI Trading Insights, and the Launch of Gravity L1 Polkadot’s Acurast Lets iPhone Users Power the Cloud and Earn Rewards Decentralized cloud computing platform Acurast has launched Acurast Processor Lite for iOS, enabling iPhone users to offer their phone’s computing power to a blockchain-powered decentralized network, helping developers deploy applications and earning rewards along the way. The app is now available on the Apple App Store. It supports iPhone 6s and newer models. Acurast is a decentralized, serverless cloud platform that converts mobile phones, among other consumer hardware, into secure compute nodes. The Polkadot SDK provided the framework, enabling the on-chain verification of compute tasks across a decentralized network, a Polkadot blog post said in November. This new application enables iPhone users worldwide to contribute their phones compute power to Acurast’s decentralized cloud network, said the team. It can be users’ everyday phones or dedicated upcycled devices. The Launch Map is here! https://t.co/9h0WxbNvfi 2024 was monumental, thanks to YOU, Rebels. Together, we’ve achieved: Over 25'000 Processors onboarded 120M+ transactions on incentivized testnet 100x protocol optimization Now, we’re gearing up for: iOS Lite… — Acurast (@Acurast) December 17, 2024 Acurast leverages the advanced processors in mobile devices to have regular phones operate as powerful compute providers. This also means that old mobile phones with damaged screens or unused older models can be repurposed into affordable compute resources and cost-effective alternatives to traditional servers. Users earn rewards in the form of cACU tokens. Each user can earn up to 250 cACU per month by running the Processor connected to the internet. They can earn additional rewards whenever developers deploy applications on the Acurast Cloud and utilize the user’s Processor resources. This latest move “marks a step forward in accessibility and control over how compute power is managed worldwide,” said the press release. You might also like Bill Laboon, Director of Education at Web3 Foundation, on Polkadot’s 1000 Referendums, Centralized Points in Decentralized Polkadot, and Sprinkling Blockchain Dust | Ep. 369 Sophon Debuts as First Validium on Avail with $500M TVL In other crypto news today, Sophon has launched its mainnet, the first Validium on ZKsync to leverage an external data availability layer powered by Avail DA . Per the press release, this move enables “unmatched scalability, security, and savings.” Sophon uses Avail’s modular application development stack to create its own Light Nodes. This way, it ensures high performance, maintaining full decentralization and data availability, the team said. Furthermore, the launch comes with over $500 million in Total Value Locked (TVL) through the Sophon farming program. SOPHON MAINNET HAS ARRIVED (((+))) pic.twitter.com/L8Zf9M3Kim — sophon (@sophon) December 18, 2024 Additionally, there is a growing ecosystem of established partners, including Mirai Labs , OPEN Ticketing , Aethir , Rivalry , Anomaly , NooN , Brutal Knights , Gamp , and more. Finally, the project boasts “significant community support,” with over 120,000 node licenses purchased by more than 5,800 unique participants now open for claiming, said the press release. The SOPH token also deployed alongside the mainnet in a non-transferable state. All transactions are free for users during the initial phase. Node holders will begin earning rewards from 1 January, with full token transferability and trading expected in the first quarter of 2025. __________ Bookmark this page and subscribe to our newsletter for the latest crypto news updates! The post What’s Happening in Crypto Today? Daily Crypto News Digest appeared first on Cryptonews .
