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Daily Crypto News Dec 11, 2021: Top 3 crypto updates for today

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Despite several backlashes from Senators in the US, Meta started to test its Novi wallet with Whatsapp. This is a digital wallet to help in crypto or digital currency transaction via Whatsapp. The idea is to make sending money as smooth as sending a message. Will we be sending BTC to our friends over Whatsapp super soon? Read below. 

S0liProof to introduce KYC and auditing services for the DeFi sector. The company has already started to work on the development of the solution and will launch it super soon. This idea came as a solution to the increased hacks and scams in the defi space. 

According to reports Solana has started to gain more attention and traction after Ethereum gas fees touched a monthly all-time high. Solana grew by 177% in September, 35% in October and continues to grow in November although not at the same rate. Does this mean Ethereum might have a tough time because of Solana? Read in detail below. 

Quick Crypto News Roundup! 

Daily Crypto News  Dec 11, 2021

WhatsApp started to test currency payments with Meta’s Novi wallet 

Whatsapp begins testing the digital wallet despite several oppositions from the senators in the United States. The head of Meta’s fintech and cryptocurrency unit Novi, Stephane Kasriel officially made an announcement on Wednesday about Meta testing Novi’s wallet with Whatsapp. 

The primary aim of this wallet is seamless transactions where sending money to family and friends can be as easy as sending messages. This feature is currently available only for a few users in the United States. 

Read more about Novi wallet testing using WhatsApp in detail. 

Source: Cointelegraph 

SolidProof introduces Audit and KYC services for DeFi projects 

A Germany-based blockchain auditing company, SolidProof has finalized the development of auto audit tools for the DeFi sector. The company plans to launch these solutions super soon. The adoption of the DeFi sector at both retail and institutional levels is growing at a tremendous rate. However, often there are several security breaches such as hacks, scams and other such incidents targeting the DeFi protocols are also increasing. The SolidProof Automated Auto Tool (SAAT) aims to help the blockchain projects enhance the quality as well as safety of the code by combating the incompetence of the developer. 

Read more about SolidProof audit services for the DeFi space in detail. 

Source: Cryptoglobe

Solana grew as Ethereum gas fees hit new highs 

The total value locked (TVL) on Solana grew in November while Ethereum was still combating its high transaction fees. Investors started to move to Solana in search of lower transaction fees. According to reports, the DeFi activity value kept growing for Solana over the past month but the pace was slow as compared to the growth seen in October. 

Solana saw significant growth in September with 177% while it grew by 35% in October. During November, the fees spent on the Ethereum network kept rising and reached a monthly all-time high. According to reports, 77% of the Solana Tokens are staked on the network that earns yield to their investors. The staked value has surpassed $84 billion. 

Read more on Solana’s growth in the defi space and what it means for Ethereum. 

Source: Cryptoglobe

Crypto Market Trend December 11, 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 11, 2021)  Change in % 
dYdX(DYDX) ₹750.33 4.05%
Quant (QNT) ₹13825.81 3.56%
Filecoin (FIL) ₹3186.42 3.17%

*Prices are latest by 9:40 AM December 11, 2021.*

Top 3 Crypto Losers 

Cryptocurrency  Price (Latest by December 11,  2021)  Change in % 
Terra (LUNA) ₹5111.16 7.34%
Avalanche (AVAX) ₹6667.52 9.76%
Loopring (LRC) ₹191.97 7.22%

*Prices are latest by 9:40 AM December 11, 2021.*

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