BTC and ETH are off on a slow market day as Space ID's native ID token records massive gains amid two recent partnerships on Space ID.
Today,s market session seems a rather volatile one with bulls and bears both struggling for market dominance. The global market cap, standing at $1.26T, had recorded a 0.73% decrease in 24 hours.
Bitcoin, now hovering on the $29K level has had a slow start, recording a 1.34% decrease as bulls struggle to regain control of the market. BTC’s trading volume has increased by 14% representing some activity in the asset’s network.
BTC 1-day chart | Sorce: CoinMarketCap
Ethereum, also facing resistance at the $2.1K level, had recorded a minor increase of less than 1% within 24 hours as of press time, while the weekly gain stood at 9%.
Which altcoins are up today?
Amid today’s slow market, Doge is seemingly doing well recording an increase of over 3% within 24 hours as well as a weekly gain of 9.5%. As Doge’s popularity keeps growing day by day, the assets trading volume has recorded a 142% increase sowing increased whale activity on the meme coins network.
Doge 1-day chart | Source: CoinMarketCap
Arbitrum continues to make trends, gaining 8% within 24 hours as well as an impressive 43% gain for the week. The asset’s market cap had also grown by 8% as of press time. Arbitrum comes in second place on the trending list as presented by CoinMarketCap.
Space ID seems to be one of today’s top gainers, gaining 12% within 24 hours and an impressive 101% growth for the week.
ID 1-day chart | Source: CoinMarketCap
These massive gains can be attributed to two recent partnerships on the network. Space ID Protocol, a one-stop hub for Web3 domains, has recently entered into two integration partnerships, resulting in the surge of the native ID token. The first partnership is with MixTrust, while the second partnership is with Battle City, a blockchain-based gaming platform.
The integration partnership with Battle City will explore the integration of the .bnb domain in the Battle City platform and the future Binance Smart Chain ecosystem, utilizing Space ID’s capabilities to reshape Web3-identity. The partnership also offers a chance for users to win 10 Legends of Tank NFTs by following both Battle City and Space ID Protocol on Twitter.
The surge in the native ID token value can be attributed to these two recent partnerships, indicating the growing interest and demand for Web3 domains and identity management solutions. With Space ID’s one-stop hub for Web3 domains, users can easily discover, register, trade, and manage across blockchains, offering a seamless user experience. The partnerships are a significant step towards creating a more decentralized and secure Web3 ecosystem, where users have complete control over their digital identities.
As the Web3 ecosystem continues to evolve, partnerships like these are expected to play a crucial role in shaping the future of decentralized identity management solutions. Space ID Protocol’s recent partnerships with undisclosed entities and Battle City highlight the increasing interest in decentralized identity management solutions, and it will be interesting to see how these partnerships shape the future of Web3-identity.