In crypto news today: Crypto Market Is Red Today Yei Finance Raises $2M Seed to Build Omnichain Modular Money Market Quantum Economics and Unstoppable Domains Introduce Digital Identities for Crypto Analysts $30 Billion Opportunity for Miner Makers – Miner Weekly __________ Crypto Market Is Red Today The crypto market turned green again after just one day of an upward burst. The global cryptocurrency market capitalization has dropped 3.4% over the last 24 hours. It currently stands at $3.77 trillion. Also, at the time of writing, the daily crypto trading volume is $263 billion – lower than we’ve seen over the past few weeks. Most of the top 100 coins per market cap turned red yet again. At the time of the writing, all top 10 coins are down. Cardano (ADA) , which saw the biggest increase on December 13, saw the biggest decrease today: 4.9% to $1.09. At the same time, Bitcoin (BTC) still stands above $100K. It’s trading at $100,095, following a 0.4% drop. Ethereum (ETH) is down 0.7% to $3,887. Read more below. You might also like Why Is Crypto Down Today? Yei Finance Raises $2M Seed to Build Omnichain Modular Money Market Yei Finance, a DeFi protocol on the Sei network, announced the successful close of its $2 million seed funding round, led by Manifold, with participation from DWF Labs, Kronos Research, Outlier Ventures, Side Door Ventures, WOO, Matt Dobel, and 0xZHUANG. Per the press release shared with Cryptonews, the investment will be used to develop V2, a step in building an omnichain money market that addresses inefficiencies in the current DeFi ecosystem. Yei Finance will use the funds to present a new, user-friendly design, flexible modular lending, and omnichain money market. Therefore, the V2 introduces features to enhance user experience, scalability, and capital efficiency across blockchains. Yei Finance is introducing isolated lending pools designed for specific assets, risk profiles, and strategies to support cross-chain borrowing and lending. At the same time, yield-bearing tokens like yUSDC will enhance capital efficiency. Yei Finance is also creating a unified liquidity pool that simplifies borrowing and lending across blockchains. “By integrating Circle’s CCTP for native USDC transfers, the protocol eliminates reliance on wrapped tokens or third-party bridges,” said the team. “This streamlines capital utilization and reduces liquidity fragmentation, providing a seamless user experience.” Update: WETH supply cap has been removed! Unlock 30% APY now: https://t.co/FNjVF6E6OL https://t.co/03CfsGiv5k — Yei Finance (@YeiFinance) December 13, 2024 You might also like Parallel Finance Founder Yubo Ruan on Revolutionizing DeFi with Omni-Chain Solution Quantum Economics and Unstoppable Domains Introduce Digital Identities for Crypto Analysts On-chain domains and digital identities provider Unstoppable Domains has partnered with Quantum Economics, a network of Web3 builders, investors, market analysts, and content creators, to introduce Quantum domain extensions. According to the press release , Quantum is built on the Ethereum blockchain and enables human-readable wallet addresses for simplified transactions. Additionally, users gain immutable digital profiles across blockchain platforms and access to Quantum’s comprehensive suite of tools and community features. It's an absolute pleasure working with @sandy_carter . Looking forward to where this awesome partnership can take us!! https://t.co/DxtNxAk778 — Mati Greenspan (@MatiGreenspan) December 12, 2024 Furthermore, a .Quantum domain is also an all-in-one login. It gives access to hundreds of apps and platforms across DeFi, gaming, metaverse, and more. Users can access the qe.finance website, which includes an extensive directory of high-profile analysts and operators in the crypto space. It also has a place to ask questions, present ideas, and collaborate with others. “By integrating these unique TLDs directly into our website’s front and backend, we’re enabling seamless access to the Web3 ecosystem.” Mati Greenspan, Founder and CEO of Quantum Economics You might also like Exclusive: EtherMail Launches Single Sign On Solution, With Unstoppable Domains as First Partner $30B Opportunity for Miner Makers: Miner Weekly Bitcoin has hit all-time highs, but the hashprice has remained below its pre-halving levels, according to the latest Miner Weekly report by BlocksBridge Consulting. Last week, BTC surpassed the much-anticipated $100,000 milestone. At the same time, the network’s hashprice rebounded to $60/PH/s, offering miners a much-needed breather. However, per the report, citing TheMinerMag research, even in the bull run we expect to see next year, the hashprice may still not surpass its pre-halving levels. It explained that revenue peaks (dollars per megawatt-hour) for dominant miners in each halving epoch have steadily declined. This has been happening nearly in proportion to improvements in power efficiency. The revenue peak of the S19 Pro in 2021, for example, was one-third of the S9’s revenue peak in 2017. This was “mirroring that the S19 Pro is three times more power-efficient than the S9. Quite a coincidence,” the report noted. Meanwhile, “revenue troughs across mining hardware generations have shown much greater alignment.” The trend can help estimate the revenue peak and trough for the S21 Pro during the 2024 halving epoch (2024–2028). __________ 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 .
