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Daily Crypto News Dec 8, 2021: Top 3 crypto updates for today

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After all the big roller coaster rides over the past few weeks, the traders and investors have finally seen a ray of hope. Polygon’s native token MATIC rose by 30% in a day as the price recovery across the entire crypto market was seen. A rise in large transactions was also seen. 

Amidst all the chaos, SundaeSwap, the sweetest decentralized exchange announced its launch on the Cardano network. This led to a price surge of 12% for the ADA coin. Wondering what is Sundaeswap? Read about it in detail below. 

The third-largest BTC whale bought another 2700 BTC as the coin crosses $50K and moves up for price recovery. According to reports this mystery entity even bought more than 5600 Bitcoins in the recent price crash. 

Before moving to the detailed crypto news for today and the top losers and gainers for the day, let’s quickly head to the quick crypto roundup. 

Quick Crypto News Roundup!

 

Daily Crypto News  Dec 8, 2021

MATIC surges 30% as cryptocurrencies recover from the market sell-off 

According to the data of CoinMarketCap, MATIC the native crypto asset of the Polygon network rose by 30% in the last 24 hours. While the other cryptocurrencies were recovering from the market sell-off, large transactions are on a rise. 

According to IntoTheBlock reports, the large transactions that are indicative of whale investors and potential institutional investment rose by 50% after the Polygon MATIC surge in the past 24 hours. 

Read more on the MATIC price surge and rise in large investments in detail. 

Source: U.today

The prices of ADA surge as the Sweetest Decentralized Exchange on Cardano gets launched 

SundaeSwap that calls itself the sweetest decentralized exchange on Cardano launch helped ADA rise by 12% in the past 24 hours. 

SundaeSwap is a scalable and native decentralized exchange and an automated liquidity protocol. After it decided to build itself on Cardano the prices of ADA have seen a significant change. This exchange is backed by Alameda Research, cFund, and Double Peak group. 

Wondering why they chose Cardano network? Here is a detailed read on the ADA price surge after the SundaeSwap launch. 

Source: CryptoGlobe 

The third-largest Bitcoin whale invests another $137 million in BTC 

Another big investment comes from the Bitcoin whales as BTC struggles to rise. A sizeable amount of $137 million was invested by the third-largest Bitcoin whale as BTC price recovery was seen. According to reports, the third-largest BTC whale has accumulated 2700 coins in a day as Bitcoin showed a spike above $50,000. This investor has also bought more than 5600 BTC in the last two weeks. 

Read more on what the third-largest BTC whale is up to. 

Source: Cryptopotato 

Crypto Market Trend December 8, 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 8, 2021)  Change in % 
Tezos (XTZ) ₹445.51 34.73%
BitTorrent (BTT) ₹0.311 20.7%
Chainlink (LINK) ₹1750.88 9.43%

*Prices are latest by 11 AM December 8,2021. *

Top 3 Crypto Losers 

Cryptocurrency  Price (Latest by December 8,  2021)  Change in % 
Yearn.finance (YFI) ₹17,62,723.30 8.2%
Quant (QNT) ₹12,873.09 6.45%
Sushi (SUSHI) ₹457.09 6.49%

*Prices are latest by 11 AM December 8,2021. *

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