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Daily Crypto News Jan 14, 2022: Top 3 crypto updates for today

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Not a single day passes by in the Crypto space when we come across crazy numbers and values breaking their own records from the past. All thanks to the giants, sharks, and whales! Today on crypto news, whales have been found loading MATIC and LINK in large quantities apart from ETH and other stablecoins. The reports from Whalestats reveal that the top 1000 ETH addresses have been currently on a spree to accumulate MATIC and LINK. Read below in detail to find out what it means for these coins.

On the first day of its launch, YuzuSwap created history and shall have its name written on the golden books of DeFi. Within the first 24 hours of its launch, the 1st DEX on Oasis network, YuzuSwap reached a TVL of $100 million and a trading volume of $323 million. If that surprised you then it’s just a normal phenomenon looking at the increasing demand for DEXs in the DeFi sector. 

ETH 2.0 which is scheduled to adopt a proof-of-stake consensus mechanism surpassed $20 billion in value. The deposit contract currently holds 9,008,082 ETH allowing users to transfer funds from the mainnet network of Ethereum to the Beacon chain. 

Quick Crypto News Roundup! 

Daily Crypto News  Jan 14, 2022

Top Ethereum whales load up on Polygon ($MATIC) and Chainlink($LINK) as crypto recovers

A whale monitoring website observed that the richest wallets on the Ethereum network have been loading up Polygon and Chainlink as the market slightly recovers. The coins leading these holdings are Ethereum and stablecoins. The reports on WhaleStats reveal that the 1000 largest addresses on the Ethereum network have been accumulating Polygon (MATIC) and Chainlink (LINK) along with Ethereum and other stable coins such as USDT and USDC. 

Read more in detail about the strategy implemented by these whales during these downturns and what it would mean for MATIC, LINK, and ETH holders in the future. 

Source: Cryptoglobe.com

1st DEX on oasis network hits $100M TVL in 24 hrs

YuzuSwap which is the first decentralized exchange on the Oasis network has seen a remarkable launch. The remarkable feat of achieving $100 million within the first day of launch signified the heightened demand for decentralized finance protocols. Yuzuswap achieved a TVL of $100 million within the first 24 hours of its operations. The Trading volume for the same reached $323 million. TVL in DeFi signifies the total value of assets that are staked on decentralized protocols.

Read more in detail about YuzuSwap and how it is revolutionizing the DeFi sector. 

Source: Cointelegraph 

Ethereum 2.0 Deposit contract surpasses $30B in value 

The Ethereum 2.0 deposit contract currently holds 9,008,082 ETH surpassing a value of $30 billion. The current amount contained in this deposit contract currently is $30.2 billion. This deposit contract lets users transfer funds from the mainnet of the Ethereum network to Beacon Chain, a parallel proof-of-stake network. 

The Ethereum core team has been operating the beacon chain since December 1, 2020, along with the proof-of-work mainnet that currently hosts all the DApps on Ethereum. The conversion from PoW to complete PoS is scheduled to take place around June 2022 for Ethereum. 

Read more in detail about the ETH2.0 deposit contract surpassing $30 billion in value and what it means for Ethereum holders. 

Source: Cryptobriefing.com

Crypto Market Trend January 14, 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 14, 2022)  Change in % 
Doge (DOGE) ₹15.11 8.95%
Near Protocol (NEAR) ₹1508.87 6.48%
Ethereum Classic (ETC) ₹2618.97 3.78%

*Prices are latest by 11:40 AM January 14,2022.*

Top 3 Crypto Losers 

Cryptocurrency  Price (Latest by January 14,  2022)  Change in % 
Gala (GALA) ₹26.44 6.9%
THORChain (RUNE) ₹511.07 5.9%
Elrond eGold (EGLD) ₹15838.33 5.92%

*Prices are latest by 11:40 AM January 14,2022.*

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