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Daily Crypto News Jan 13, 2022: Top 3 Crypto Updates for Today

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Not a day goes by that we do not get new updates from the Metaverse sector. As the Metaverse is based on personal and business transactions that will require the merger of several financial ecosystems, it makes the Metaverse’s ecosystem a lot more than just a movie concept. Today we bring news, where a leading Solana DEX has joined hands with Metaverse-based finance protocol. 

The impact of the crypto space is unavoidable. The past couple of years has not only seen mass adoption of the ecosystem, but several industries also investing in crypto. Apart from that, we have also seen various whales acquiring a huge chunk of the well-known cryptos. This huge inclusion of crypto in various portfolios has resulted in Crypto funds outperforming traditional hedge funds and digital asset benchmarks. 

Zero-knowledge algorithms ensure everything is correctly computed instead of every miner or staker doing it manually.  To enhance the possibility, on Monday, Polygon, a layer-two Ethereum scaling solution has announced the launch of Plonky2, a zero-knowledge scaling technology, claiming to be the fastest in the world.

Quick Crypto News Roundup! 

Daily Crypto News  Jan 13, 2022

Leading Solana DEX announces partnership with Metaverse-based finance protocol

The Metaverse is more than a movie concept. It combines all the digital experiences a user might encounter; replicate many of the actions one can take in the real world, which also includes the purchase of property and clothing along with the option for customization of one’s own space and avatars. Soldex.ai, a platform leading the next generation of decentralized finance (DeFi) evolution through emotionless trading, has looked to a new partnership to address new audiences amid the rise of the Metaverse. As an ecosystem enabling new investors to trade digital assets, its partnership with Project Larix will only accelerate the creation of a more extensive ecosystem, one that is already rooted in the Metaverse.

Read more on the Metaverse – Solana partnership, here.

Source: CoinTelegraph

Crypto funds outperformed traditional hedge funds and digital asset benchmarks

A big rally in stocks over the course of 2021 did not translate into outsized returns at some of the world’s largest hedge funds. But their crypto counterparts were able to produce returns that beat both stock and digital asset indexes.  according to data from HFR, Crypto funds held up better. In aggregate, hedge funds delivered returns in 2021 that lagged behind the broader market.

Read more on Crypto funds outperforming traditional hedge funds, here.

Source: TheBlockCrypto

Zero-knowledge scaling tech Plonky goes live on Polygon

On Monday, Polygon (MATIC), a layer-two Ethereum (ETH) scaling solution that is known for its fast transaction times and negligible gas fees, announced the launch of Plonky2, a zero-knowledge scaling technology, claimed to be the fastest in the world. Zero-knowledge algorithms ensure everything is correctly computed on layer two and return the succinct proof to Ethereum without sending the entire data. Instead of every miner (or staker) verifying every posted transaction, zero-knowledge allows the verification of simplified rolled-up proofs, thereby significantly speeding up the overall network.

Read more on Zero-knowledge scaling technology, here.

Source: CoinTelegraph

Crypto Market Trend January 13, 2022

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

Top 3 Crypto Gainers 

Cryptocurrency  Price (latest by January 13, 2022)  Change in % 
1inch (1INCH) ₹ 198.49 14.9%
OMG Network (OMG) ₹ 495.49 12.17%
Harmony (ONE)  ₹ 28.22 11.9%

*Prices are latest by 12:35 AM January 13, 2022.*

Top 3 Crypto Losers 

Cryptocurrency  Price (Latest by January 13,  2022)  Change in % 
NEAR Protocol (NEAR) ₹ 1,395.89 5.01%
Ravencoin (RVN) ₹ 7.94 2.16%
Algorand (ALGO) ₹ 116.03 1.62%

*Prices are latest by 12:35 AM January 13, 2022.*

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