Crypto News Jan 3, 2022

News Headlines (January 03, 2022)

  1.  Solana’s Phantom wallet sees record growth with over 1.8M MAUs in 9 months 

Phantom is undoubtedly amongst the fastest growing wallets within this ecosystem that incorporates staking. It offers support for Ledger Nano X devices and gives access to NFTs and digital collectibles. Here’s the small sneak peek of its impressive run in 2021. Solana (SOL) is one of the most popular blockchain platforms in the world right now. It’s highly regarded in the blockchain community because of its speed and security. Since it uses proof-of-history, it’s also eco-friendly. Solana has become a very attractive cryptocurrency in 2021, as its value soared by more than 5,077% in a mere eight months.

Surojit Chatterjee, Chief Product Officer at Coinbase, notes that 2021 proved to be “a breakout year for crypto” with Bitcoin (BTC) price gaining nearly 70% YoY, DeFi hitting $150B in value locked, and NFTs “emerging as a new category.” As more L1 networks gain traction and L2s become bigger, our industry will “desperately seek improvements in speed and usability of cross-L1 and L1-L2 bridges,” Chatterjee added. He also mentioned that zero knowledge proof technology should “get increased traction — 2021 saw protocols like ZkSync and Starknet beginning to get traction.”

Algorand is a unique blockchain because of its environmentally friendly consensus mechanism, and because the blockchain is fully decentralized, there’s no single point of authority that can influence the network. Initially launched in 2019, Algorand prides itself on being the Greenest blockchain, using a permissionless proof-of-stake consensus mechanism to secure its network. unlike other cryptocurrencies like Ethereum, Solana, Avalanche, and Polygon, Algorand hasn’t had a parabolic price hike in 2021. Algorand is an excellent bet for 2022 because of its relatively young ecosystem. As developers build more applications on Algorand’s blockchain, its valuation can easily double or even triple this year.

Cardano (ADA) and Bitgert (BRISE) lead cryptocurrencies that have performed so well in 2021. Cardano (ADA) has climbed into the top 10 largest cryptocurrencies by market cap. Cardano (ADA) and Bitgert (BRISE) Have Impressive 2022. Like Cardano (ADA), Bitgert (BRISE) has stood out as one of the most powerful and fastest growing crypto projects of 2021. Unlike Cardano which is years old, Bitgert (BRISE) is a project relatively new, launched in late July. 2021 but has caught the attention of the crypto community due to its amazing features. The project launched several products, including staking. Like Cardano, Bitgert (BRISE) is a project with real utility. 

In the capital of San Salvador, Mario Gomez, a charismatic, 36-year-old software developer and founder of a “hacker space” for fellow coders, was skeptical. “I’m not completely convinced of everything that these people are selling,” he explained later. El Salvador’s authoritarian turn has brought warnings from the US, which has sanctioned close Bukele allies for corruption. But within El Salvador, Bukele remains popular, with polls putting his approval rating at more than 80 percent. Bukele has pitched Bitcoin as an opportunity for Salvadorans, especially as a way around high fees for people receiving US dollars from abroad, a flow that represents nearly a quarter of El Salvador’s economy.

NFTs are unique non-interchangeable units of data stored on a blockchain (a form of digital ledger), which effectively allow users to own, buy and sell digital items. Many game companies have already started selling digital items as NFTs such as Ubisoft, though this has attracted criticism from some due to the format’s high carbon footprint. In his letter, Square Enix’s Matsuda listed NTFs alongside the metaverse (a term used to describe a hypothetical, online virtual world), cloud tech and cryptocurrency as major trends he sees in the games industry, which he indicated the publisher would pursue.

Part of the reason for this might be the fact that many super celebrities such as Steph Curry have jumped on board and bought a Bored Ape for their Twitter profile pictures. The hip hop megastar Marshall Mathers, better known for his stage name – Eminem, has become the latest super celebrity to purchase a Bored Ape NFT. The Oscar winner paid 123,45 ETH for Bored Ape #9055, which the community has already called EminApe. The Twitter user who sold the ape, thanked the artist:

I’m living in a simulation. Thank you, Eminem, for buying my ape and joining the club. Madness. Let me write a lyric in your next single. – He said.

The second-largest crypto meme token in terms of market capitalization, shiba inu (SHIB), has announced the launch of a “Doggy DAO” in order to reward SHIB users. The SHIB development team says the project has always focused on “working towards decentralization.” Just before the end of the year on December 31, the developers behind the Shiba Inu crypto protocol have announced the launch of a “Doggy DAO” in order to give more power to shiba inu users. The meme token has propelled itself into the limelight this year, gathering 43,685,107% against the U.S. dollar in 12 months, and getting listed on numerous crypto platforms.

Kevin O’Leary is the famous shark tank star who has shared his thoughts on crypto a lot of times. And recently, he talked about his investment strategy and his portfolio. In a recent interview with Forbes, Kevin O’Leary shared a lot of thoughts in the crypto space. Kevin explained the entire crypto industry, like software development teams. And the idea is to invest in teams that are strong and creative. He also talked about the Polygon project that aims to reduce the overall gas fees on Ethereum. So, including Polygon and Ethereum, Kevin also owns Bitcoin, Solana, hedera, and serum.

  1.  Elon Musk shares thoughts on Bitcoin, Dogecoin, and the identity of Satoshi Nakamoto

Tesla CEO is known for his market-moving tweets on crypto and is believed to be behind some of the price swings of even the world’s largest crypto. In a recent interview, the tech billionaire shared his views on Bitcoin, Dogecoin, and his guess on who the BTC creator, Satoshi Nakamoto might be. In May, Elon Musk announced Tesla’s decision to stop due to concerns over crypto mining’s impact on the environment. In a recent interview, the billionaire also shared some technical issues that are preventing BTC’s use as currency. Meanwhile, Musk noted that Dogecoin has an advantage over Bitcoin in terms of transaction volume.