In crypto news today:
-Why is crypto down today?
-Synonym Launches the Bitkit Bitcoin Wallet on App Stores
-Fetch.ai, SingularityNet, and Ocean Protocol Postpone Token Merger
-Minima Blockchain Powers On-Chain Race
-Data Logger for McLaren GT4 Supercar
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Why is crypto down today?
Over the past 24 hours, the global crypto market capitalization has decreased by 0.5%. It now stands at $2.57 trillion.
Of the top 100 coins per market cap, only six have seen their prices increase.
The best performer in this category is Notcoin (NOT), with a 7.2% increase to $0.01744.
TONCOIN (TON) is next. It appreciated 6.9% to $7.55.
Stacks (STX) and Injective (INJ) follow it with increases of about 5% to $2.3 and $30, respectively.
However, more coins on this list are in the green than the red zone today.
BRETT recorded the highest loss: 12.4% to $0.1464.
FLOKI is next, having seen a drop of 8.2% to the price of $0.0002197.
More meme coins, including BONK, WIF, and PEPE, are down 5%-6% today.
Zooming into the top 10 coins per market cap, we find most coins in the red today.

Only three coins have seen their prices increase.
Toncoin is the best performer in this category.
Dogecoin (DOGE), unlike many of its meme peers, is green today. It’s up 2% to $0.14356.
XRP is up 0.04%, meaning that it’s remained unchanged over the past 24 hours. It currently trades at $0.48442.
When it comes to the drops, all of them are smaller than 2%.
The highest is Lido Staked Ether (STETH)’s 1.89% to $3,477.
Ethereum is right there with a fall of 1.84%, now trading at $3,479.
At the same time, Bitcoin (BTC)’s price decreased by 0.9%, currently changing hands at $67,293.
Meanwhile, Telegram’s The Open Network (TON) blockchain has been outperforming Ethereum in terms of daily active addresses throughout this month. Delphi Digital attributed this to Telegram’s 900 million user base.
Synonym Launches the Bitkit Bitcoin Wallet on App Stores
In crypto news today, software company Synonym has announced that its self-custodial Bitcoin wallet Bitkit is moving from beta testing to full availability on the App Stores.
Per the press release shared with Cryptonews, the wallet supports Bitcoin on-chain and over the Lightning Network and is available to all.
“Today, users across iOS and Android platforms can access Bitkit, which combines a sophisticated, user-friendly interface with the security of self-custody,” said the team.
Notably, the wallet allows users to send and receive BTC without relying on third-party custodians.
Its creators remarked that “in a competitive market where custodial shortcuts are common, Bitkit distinguishes itself by remaining fully self-custodial.”
Synonym’s CEO, John Carvalho, stated that custodial wallets dominated the market since the Lightning Network started gaining traction in 2020.
However, this was at odds with the very essence of Bitcoin, he argued.
“Bitkit was created to counter this trend by offering a powerful, accessible, self-custodial alternative,” Carvalho said.
Meanwhile, in the future, Bitkit plans a comprehensive rewrite post-launch.
The team is also actively collaborating with “leading wallet developers” to define unified specifications for Lightning Service Providers (LSPs). This is a critical step towards broader Lightning Network adoption, they said.
Fetch.ai, SingularityNET, and Ocean Protocol Postpone Token Merger
The Artificial Superintelligence Alliance, a collective formed by Fetch.ai, SingularityNET, and Ocean Protocol, has announced a revised date for the ASI token merger.
It’s been moved from June 13 to July 15, 2024.
According to the press release, “this schedule adjustment is necessary to accommodate the logistical requirements and technical dependencies of exchanges, validators, and broader ecosystem collaborators.”
On July 15, FET, AGIX, and OCEAN will merge into the new ASI token.
Once third-party integrations are finalized, the ASI token will be launched.
At that point, FET, AGIX, and OCEAN will cease to trade independently.

The third-party dependencies are critical to the smooth execution of the token merger process, the team said.
They also must ensure that all stakeholders’ needs are adequately met.
Therefore, “while this delay is unfortunate,” it is a necessary strategic decision.
This way, the token merger will be carried out with the highest standards of accuracy and efficiency, the team remarked.
According to Humayun Sheikh, CEO of Fetch.ai and chairman of the Artificial Superintelligence Alliance, “while the finalization of the ASI token merger is now scheduled for July due to necessary adjustments by our partners, the commitment and vision driving this alliance remain stronger than ever.”
Minima Blockchain Powers On-Chain Race Data Logger for McLaren GT4 Supercar
In other crypto news today, decentralized and device-agnostic L1 blockchain for DePIN projects, Minima, is working with data platform Influx Technology to integrate a blockchain-powered data tracker into a McLaren GT4 supercar ahead of the Spa-Francorchamps in June.
Per the press release, the ‘DePIN Data Logger’ acquired the data directly from the car’s engine. It collects data points on over twenty parameters, including vehicle ignition timing, braking, oil pressure, engine temperature, steering angle and rotation, and gear switching.
Minima’s blockchain then secures it and provides immutable data provenance.
“This unseen approach promises to elevate data capture and analysis to unprecedented levels for the world’s most prestigious racing teams,” the announcement stated.
According to Oliver Plucknett, Race Lab team manager, the integration of blockchain into the data collection and transmission process is “a revolution for motorsport.”
Beyond just transferring data from a logger to a screen, it allows fans and officials to access relevant information in real time.
Minima’s capability to validate data as it is generated by the car, Plucknett said, “ensures that teams receive reliable data precisely when needed, allowing for those critical split-second decisions from the pit wall.”
Minima CEO and co-founder Hugo Feiler added that blockchain’s full potential has yet to be realized. “To achieve mainstream adoption, it must provide real-world utility and seamless integration. We are collaborating with Influx to resolve a real challenge faced by the automotive industry.”
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Worldcoin says it will make Argentina its “regional operations center,” and will expand its presence in the country and the wider LATAM region.
Per the media outlet Criptonoticias, the firm, which operates the WLD token, says it will open iris-scanning offices “in 50 locations” “in more than 10 cities in Argentina.”

New Worldcoin Argentina Expansion Plans
Worldcoin executives met with top government officials in Buenos Aires earlier this year. They have also met with President Javier Milei. These talks appear to have laid the groundwork for the new move.
The altcoin’s representatives have scanned the irises of more than half a million Argentines in just 10 months.
While this has provoked no shortage of controversy for lawmakers and government regulators, long lines have formed outside Worldcoin centers nationwide.
An unofficial Worldcoin reselling industry has also sprung up, with many WLD recipients swapping their coins for fiat at “50% of their market value.”
The firm says it plans to turn Argentina into the “nerve center” of its operations in the Latin American region.
Officials said Worldcoin will also open two centers where citizens “will be able to learn about the technology and discover more about the project.”
Worldcoin said that the decision to focus on Argentina was made after a meeting with Milei in San Francisco, California.
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The recent success of spot Bitcoin ETFs in the U.S., which brought in $1.8 billion in inflows last week, along with the approval of spot Ethereum ETFs, has cleared the way for altcoin ETFs in the United States.
Industry experts are now predicting that an altcoin ETF may be approved next in the U.S. However, Bloomberg Research ETF Analyst James Seyffart told Cryptonews that there is a long way to go before another digital asset gets an ETF in the U.S.
"Seyffart further mentioned that he believes Solana (SOL) makes the most sense as the next possible ETF, yet he noted that the SEC is actively calling SOL a security."
"We’ve seen the SEC pivot, but it would likely be years before we see an altcoin ETF," Seyffart said. "Even if an issuer filed for an ETF tomorrow, it wouldn’t be up for a decision from the SEC until March 2025."
"Seyffart added that he believes that an altcoin ETF will have almost 'no shot of approval' in the next year due to the requirements needed for an ETF to be considered in the U.S."
"You need two things for an ETF. First, clarity around whether an asset is a commodity or security," Seyffart said. "Second, a regulated market that can be surveilled."
"Seyffart pointed out that the Chicago Mercantile Exchange (CME) futures market is federally regulated by the Commodity Futures Trading Commission (CFTC). In the U.S., the CME controls both Bitcoin (BTC) and Ethereum (ETH)."
"‘There currently isn’t a federally regulated or surveilled market that would satisfy the SEC requirements on any other digital assets at this time,’ he said. ‘This can change if an admin is open and constructive with the industry, but it is still likely to take years.’"
"Michael Repetny, a core contributor at Marinade – a liquid staking protocol on Solana – added that before a spot ETF for Solana is approved, there must be a future ETF on the CME."
"‘This would indicate progressive steps toward full acceptance,’ Repetny remarked."
"Although a futures-based Solana ETF isn’t currently available to trade on any U.S. market, there are ETF-like products investors can buy."
"For example, the Grayscale Solana Trust (GSOL) is a closed-end fund. There is also VanEck Solana, which is an exchange-traded note (ETN)."
"‘The upcoming election could definitely have an impact on the chances for another crypto ETF, but there’s no way to know for certain,’ Seyffart said. ‘Theoretically, a pro-crypto administration would work faster on creating a framework for other digital assets to become ETFs.’"
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Several crypto miners gathered at Mar-a-Lago on Tuesday night to meet with presidential candidate Donald Trump, who promised to advocate for them internationally.
The attendees included representatives from top Bitcoin mining companies such as CleanSpark, Riot Platforms, Marathon Digital, and other prominent industry players.
Key figures included Matthew Schultz from CleanSpark, Jason Les and Brian Morgenstern from Riot Platforms, Salman Khan from Marathon Digital, and Amanda Fabiano of Fabiano Consulting.
While Trump has used crypto to advance his campaign, he has firmly opposed the establishment of a Central Bank Digital Currency (CBDC).
In a June 12 post on Truth Social, Trump said that Bitcoin mining might be the US’ final defense against a CBDC.

Just last month, Trump became the first presumptive Republican presidential nominee to accept cryptocurrency for official campaign donations.
Trump told attendees he “loves” and understands cryptocurrency, and that miners help to stabilize the energy grid, Bloomberg reported, citing Cleanspark’s Scultz. Trump also assured that he would advocate for miners in the White House.
The meeting took place amid growing criticism of crypto mining due to its environmental impact and strain on power grids. This has led to actions like China’s ban on Bitcoin mining in 2021 and restrictions in New York on using carbon-based power sources for mining.

Trump Promises Crypto Support, Takes Aim at Biden
In early May, Trump announced he would aim to end the hostility towards cryptocurrency in the US if reelected. He also criticized incumbent President Joe Biden, implying that Biden lacks understanding of cryptocurrency.
Jonathan Thomas, CEO of prime brokerage Blueberry, previously told Cryptonews that Trump’s supportive stance on cryptocurrency will sway voters who prioritize crypto as their primary issue.
“This is an aspect that some people hold dear to their hearts, and will vote for which candidate supports their bias,” he said. He added that Trump’s crypto-friendly rhetoric will appeal to cryptocurrency enthusiasts, provided it doesn’t conflict with other issues they consider more important.
Crypto Policies Could Define 2024 Presidential Election: Mark Cuban
Although Trump has not yet proposed any specific pro-crypto policies, his supporters are welcoming his positive statements about the emerging asset class. This response is likely influenced by the Biden administration’s perceived anti-crypto stance.
Under Biden, the current administration has adopted a cautious approach toward the cryptocurrency industry, showing reluctance to embrace Bitcoin and other digital currencies.
Under his admin, digital currency regulation has faced a tug-of-war between different government agencies. With no clear winner, minor tweaks and a handful of enforcements are all that’s happened so far. Finding common ground has also proven difficult.
Billionaire Mark Cuban has weighed in on the matter, saying each candidate’s stance on crypto may become a defining issue in the US 2024 presidential election.
“I have said many times that Biden has to choose between [SEC Chair Gary] Gensler or crypto voters, or it could cost him the White House,” Cuban said.

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