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Daily Crypto News Dec 16, 2021: Top 3 crypto updates for today

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The year 2021 was indeed a year of adoption and celebration for all the crypto enthusiasts put there. The increase in the rise of awareness around blockchain, cryptocurrency, metaverse, NFTs and etc. has surged tremendously. With all the big enterprises jumping onto the bandwagon of metaverse and NFTs, it’s time for Swiss Bank to show some moves too. Swiss Bank is launching a digital token based on the Ethereum blockchain that shall allow people to hold physical swiss gold on the Ethereum network. Crazy, right! Wondering what’s all about? Read more in detail below. 

Solana has been breaking records the entire year. Now, it’s all ready to enter the blockchain gaming sector. It has raised $150 million to fund blockchain-based gaming startups that will be built on the Solana blockchain network. Another big news that has made all the blockchain enthusiasts happy is the collaboration of HSBC and Well Fargo to deploy blockchain-based foreign exchange solutions to commence and settle transactions in banks. Read about all the amazing things happening around the crypto space in detail below.  

Quick Crypto News Roundup! 

Daily Crypto News  Dec 16, 2021

People can now Hold Physical Swiss Gold on the Ethereum blockchain 

SEBA Bank is ready to launch a digital token that shall allow investors to take ownership of all the physical gold present in their Swiss vaults via the Ethereum blockchain. This new product of the Swiss bank exists as an ERC-20 token. Therefore, this product is stored as well as traded on the world’s second-largest blockchain network. 

How different it is from the traditional gold products? Well, the traditional products act as an IOU only since they are not stored on the blockchain network. The high-level security provided by the Ethereum network requires no third-party authentication for the ownership of the digital assets. 

Read more in detail about How one can hold their physical Swiss Gold on the Ethereum Blockchain in detail. 

Source: Forbes 

Solana announces $150 million funding for blockchain gaming 

The investment hand of Solana, Solana ventures has announced new funding of $150 million to back the startups around blockchain gaming. This fund was launched in a partnership with Forte, a blockchain gaming startup that has recently raised $725 million along with Griffin Gaming partners. This fund backed by this strong trio is in USD and not in Solana tokens. 

Solana plans to invest in gaming startups that shall build upon the Solana blockchain. According to Solana ventures, the network’s ability to conduct 65,000 transactions every second along with a minimal average cost of $0.00025 makes Solana an ideal blockchain network for gaming platforms.

Read more on Solana Ventures’ new funding strategy and what it means for the blockchain network in detail. 

Source: The Block 

HSBC and Wells Fargo are about to deploy blockchain solutions to initiate global forex trading 

The two leading banking giants are ready to utilize blockchain-based solutions to initiate and settle Forex transactions. HSBC and Wells Fargo are ready to deploy a blockchain solution to upgrade the existing foreign exchange transactions. According to Mark Jones from Wells Fargo, this is the very first time when banks shall use blockchain-based solutions to commence as well as settle Forex. 

Are we finally heading towards a more decentralized and trustless system of functioning? Read more on HSBC and Wells Fargo’s collaboration of bringing blockchain-based solutions to the foreign exchange market. 

Source: Cryptoslate

Crypto Market Trend December 16, 2021 

Here is a quick summary of the top crypto gainers and losers for the day. 

Top 3 Crypto Gainers 

Cryptocurrency  Price (latest by December 16, 2021)  Change in % 
Harmony (ONE) ₹16.01 15.23%
Fantom (FTM) ₹123.08 14.86%
Helium (HNT) ₹2581.22 15.91%

*Prices are latest by 11:10 AM December 16,2021.*

Top 3 Crypto Losers 

Cryptocurrency  Price (Latest by December 16,  2021)  Change in % 
Near protocol (NEAR) ₹775.31 7.05%
Sushi (SUSHI) ₹464.50 4.67%
EOS(EOS) ₹261.98 3.04%

*Prices are latest by 11:10 AM December 16,2021.*

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