In crypto news today: Crypto market is red today Celo Proposes the ‘Great Celo Halvening’ to Improve Economic Model Unstoppable Domains Expands to Solana with Dogwifhat and Retardio IO.NET Founder Invests $130 Million in O.XYZ __________ Crypto market is red today Over the past 24 hours, the global cryptocurrency market capitalization remains unchanged at $3.71 trillion. At the time of writing, the daily crypto trading volume is $141 billion. Most of the top 100 coins per marker cap have seen their prices drop over the last day. Additionally, three of the top 10 coins are down today, though only one saw a notable decrease. Solana (SOL) is down 0.9% to the price of $215. As for the increases, the day’s best performer is Cardano (ADA) . It’s up 5.6%, trading at $1.14. At the same time, Bitcoin (BTC) appreciated 1.8%, once again surpassing the $100,000 mark, now changing hands at $101,249. Also, Ethereum (ETH) is down by less than 0.5%, trading at $3,651. Read more below. You might also like Why Is Crypto Down Today? Celo Proposes the ‘Great Celo Halvening’ to Improve Economic Model In crypto news today, Celo has proposed a new economic model ahead of its Layer 2 transition that would include a halving event. Per the announcement, the focus of this proposal is on operational sustainability and environmental commitments. The halving of Celo’s inflation rate would „fundamentally reshape the network’s economic landscape.“ Nicknamed the “Great Celo Halvening” would reduce the inflation rate from the current 2% to some 1%, slowing down the creation of new tokens and the selling pressure that comes from that inflation. The Great Celo Halvening has a good ring to it. wdyt? https://t.co/hibWcHsDf0 — Marek | Celo ℓ2 (@marek_) December 16, 2024 Speaking of the transaction fee restructuring, a new split has been proposed: 90% for network operations and 10% for carbon offset. This is a change from 80% burn and 20% carbon offset. The 90% would fund data availability, Layer 1 fees, sequencer and batcher operations, and revenue sharing with OP-Stack Superchain ecosystem. Additionally, the proposal noted, the L2 transition needs a new tokenomics model as it changes many network’s operational and security responsibilities. This new tokenomics model must account for reduced validator security role, operational sustainability, inflation management, and environmental leadership. You might also like Isha Varshney, Head of Ecosystem at Celo Foundation, on MSME Real-World Use Cases And More | Ep. 376 Unstoppable Domains Expands to Solana with Dogwifhat and Retardio On-chain domain name provider and digital identity platform Unstoppable Domains announced the expansion of its minting capabilities to the Solana blockchain, with Dogwifhat and Retardio joining as launch partners to accelerate adoption across onchain ecosystems. According to the press release, the integration will support “a wide range of functionalities,” such as domain registration, wallet integrations, and decentralized website hosting. Users can use these domains for payments, login credentials, and online identities. Therefore, said the teams, the move gives users “a powerful domain” as their digital identity, simplifies payment processes, and fosters deeper engagement within the Solana ecosystem. Minting on Solana: Prepurchase your .WIF domain and join the pack today! @dogwifcoin , the #1 memecoin on Solana with a market cap of $2b, is taking this crypto cycle by storm! Now, it has a dedicated TLD on the web with .WIF domains, the ultimate way for holders to connect,… pic.twitter.com/xyRc33hvN5 — Unstoppable Domains (@unstoppableweb) January 6, 2025 Additionally, Dogwifhat and Retardio will bring their communities to Solana’s over 12 million active monthly users. Wif will integrate Solana-minted domains into its ecosystem, offering users improved on-chain personalization and blockchain-based communication tools. Similarly, Retardio plans to leverage Retardio domains to offer enhanced on-chain identity to its users. “We’re thrilled to bring Unstoppable Domains to the Solana blockchain, enhancing the possibilities for digital identity ownership,” said Sandy Carter, COO of Unstoppable Domains. “Collaborating with Dogwifhat and Retardio ensures that we can introduce this technology to a wide audience, unlocking new use cases and driving mass adoption of Web3.” You might also like Exclusive: EtherMail Launches Single Sign On Solution, With Unstoppable Domains as First Partner IO.NET Founder Invests $130 Million in O.XYZ In other crypto news today, Ahmad Shadid, the Founder of IO.NET , has invested $130 million of his personal wealth into “the world’s first” Decentralized AI Managed Organization (DeAIO), which will be developed by O.XYZ . IO.NET is a $3 billion Solana Decentralized Physical Infrastructure Network (DePIN), while O.XYZ is a team developing AI systems independent of corporate control. O.XYZ says that its aim is to make AI technology accessible, transparent, and community-driven. This, it added, would ensure that superintelligence serves humanity’s interests. Source: Ahmad Shadid, YouTube The novel DeAIO framework introduces a self-governing AI system with a shutdown-resistant sovereign superintelligence driven by community participation, not corporations. “At its core is the ‘AI CEO,’ an unbiased AI entity tasked with overseeing decisions, accelerating development, and coordinating a diverse network of contributors,” said the press release. DeAIO ensures that AI decisions are shared with the community and stakeholders. Contributors can vote to veto the AI CEO’s decisions, prompting alternative solutions that align with collective goals, it added. Furthermore, all tasks, financial decisions, and HR processes are transparent. Contributors can monitor and support the AI CEO’s operations, receiving rewards for their participation. DeAIO hires developers, researchers, and users worldwide, it said. An early prototype of the DeAIO system is already live to show how the O.XYZ organization operates. You might also like Exclusive: peaq Launches DePIN Enterprise Adoption Program with Bosch, Lufthansa IH, Deutsche Telekom, Bertelsmann Investments, and TUM __________ 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 .
