Crypto News Jan 6, 2022

  1.  Why Ethereum Could Fall Hard From Here

Ethereum (CRYPTO:ETH) is one of the most established cryptocurrencies available today and a leader in building utility into cryptocurrencies. The market has rewarded this position with Ethereum’s market cap standing at about $450 billion at this writing. There are a lot of unanswered questions for Ethereum in 2022. We know an upgrade of the network is coming, but it has been delayed multiple times, allowing other cryptocurrencies to grow their networks. But Ethereum also has a big lead in the crypto space and the second-largest market cap with millions of dedicated followers. Ethereum is currently lacking on the speed and cost front, and as long as that’s the case, investors should question whether this is the best cryptocurrency for 2022.

Cardano was not the best performing cryptocurrency of 2021. Though this blockchain network that is competing with the likes of Ethereum, Solana, and Avalanche may have returned less as compared with a few others, 2022 may be the year of sharp uptick in value. Cardano came up with the newer proof-of-stake mechanism. Here, the validators must stake their crypto holding in order to become a part of the transaction. The need of computation power decreased with the feature, and hence a relative saving on electricity consumption could be achieved. Users of Cardano’s platform must use ADA to pay network fee.

Having been in the game since 2017, no one would’ve predicted such massive gains for SOL. However, with such humongous profits last year, many would wonder whether there’s any upside left to investing in Solana. Solana excels where most crypto giants have faltered since their inception. Solana’s platform boasts incredibly high speeds, low transaction costs and remarkable energy efficiency. Its throughput far outpaces blockchain giant Ethereum, which can process just 30 per second. Solana currently has upwards of 1,000 validators, but in comparison, Ethereum has more than 200,000. However, as the platform scales, the number of validators can quickly multiply over time.

Money is flowing back into decentralized finance (defi) and a number of defi tokens are swelling in value. Statistics from show the TVL in defi hit a low of $228.13 billion on December 11 and since then, it’s jumped 12.14% in value. On the first day of 2022, the TVL in defi was $245 billion and it’s increased 4% to date reaching $255.84 billion on Tuesday. Today, the TVL in cross-chain bridges to Ethereum totals $24.67 billion, which represents a 1.5% change in 30 days. The number of unique addresses among the cross-chain bridge TVL in 30 days is 87,855 addresses.

Melania Trump is set to auction off the ‘iconic’ white hat she wore for her husband’s first official state visit from a foreign head of state as part of an ‘important’ and ‘one-of-a-kind’ $250,000 sale commemorating the former President’s milestone. The 51-year-old former First Lady announced the launch of her ‘Head of State’ auction on Tuesday – just weeks after selling her first-ever non-fungible token (NFT). In addition to the wide-brimmed white hat worn by Melania to welcome French President Emmanuel Macron and his wife Brigitte to the White House in April 2018, the auction also features a watercolor painting by Coulon of the former First Lady.

The CPO offered his predictions in a corporate blog post on January 4. He stated that while Ethereum’s scalability would increase, other layer-1 networks would also gain popularity. The industry will constantly seek advancements in the speed and functionality of cross-L1 and L1-L2 bridges. These bridges allow tokens to be transferred between layer 1 networks like Ethereum and layer 2 networks like Arbitrum and vice versa. Surojit Chatterjee also predicted increased industry-wide regulation and institutional investment in DeFi. He also mentioned the emergence of DeFi insurance and increased brand engagement in Metaverse and NFTs.

According to Investment Director at Binance Labs, Peter Huo, “WOO Network adds significant value to the crypto ecosystem by providing deep liquidity and zero-fee trading both on- and off-chain. We are excited to expand our long-lasting relationship and explore further collaborations, especially on BSC.” The DeFi boom is still well and truly continuing, with new projects successfully raising more funds to drive expansion in this highly competitive market. DeFi liquidity provider WOO Network is the latest to secure an additional $12 million worth of funding from Binance Labs in its recently concluded Series A+ round.

cBridge has finally established bridging assistance for Aurora, an Ethereum Virtual Machine scalability connectivity that flows on NEAR Protocol with benefits from the many unique characteristics, such as sharding & speedy finality. When continuing to work with Aurora’s Solidity smart contracts, designers may find recognizable Ethereum tools like Truffle, Etherscan, and Infura useful. Aurora’s foundation token is ETH, and members can view the system using familiar wallets such as Imtoken and MetaMask, ensuring a smooth onboarding process for dApp customers. Aurora would therefore join Celer in trying to promote the Open Canonical Token Standard for its own eco-system in the future. – Today, it rises above double digits and, in the last 4 days of the month, it has appreciated more than 30%. it remains attractive to investors. Chainlink protocols are used by many of the most popular blockchain networks, such as (AVAX), Binance Smart Chain (BSC), (ETH), and (MATIC). Even large companies such as AccuWeather, Amazon (NASDAQ 🙂 Web Services, Google (NASDAQ 🙂 Cloud Platform or Swisscom (SIX 🙂 have used this network. This media notes that “the relative strength index is currently around 48, which reinforces the optimistic outlook. This indicator generally remains in the 40-90 range with the 40-50 zone acting as significant support in an uptrend”.

  1.  OlympusDAOnow News Site Launches Report on DAO’s, DeFi and other Digital Assets

In its official launch announcement, OlympusDAOnow today announced the launch of its Crypto News platform. The new site will publish daily news about OlympusDAO, other ‘Decentrilized Autonomous Organisations’, DeFi, and other cryptocurrencies in general. OlympusDaoNow makes this happen by bringing together al the news in the crypto space with a main focus on OlympusDao and other Decentralized Autonomous Organisations. As well as that, OlympusDaoNow will celebrate their launch and will encourage readers to speak the word about the whole crypto universe and become part of this growing environment.