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Daily Crypto News Feb 15, 2022: Top 3 crypto updates

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After a drop from the $46,000 mark last week, Bitcoin stayed above the $41,500 resistance level over the weekend. This change happened as Bitcoin’s global hash rate reached a new all-time high, a 32% surge! In today’s crypto news, find out why this has surprised the industry below.

IOHK (Input Output Hong Kong), the team driving Cardano’s development, has recently released a couple of upgrades and features targeted at increasing network scaling and interoperability of the blockchain. Their efforts seem to be paying off as Cardano’s adjusted transaction volume just surpassed Bitcoin’s. Read more on these upgrades below.

Europe appears to be speeding up its efforts for the debut of the digital euro. While the European Commission stated plans to introduce a bill for digital euro in 2023, the Digital Euro Association (DEA) just announced a new partnership with FinTech firm Ripple to increase their technological capabilities. Read more on this crypto news below.

 

Quick Crypto News Roundup!

Daily Crypto News  Feb 15, 2022

Bitcoin Hashrate Reaches New ATH in 32% Surge

When China cracked down on crypto mining in 2020, Kazakhstan quickly became a hotspot for crypto mining and accounted for a major share of Bitcoin’s global hash rate. Sadly, Kazakhstan miners are now moving their operations from there as well because of political instability and power shortages. 

It is surprising that amidst this move, the overall Bitcoin hashrate spiked by 31.7% to an all-time high of 248.11 EH/s on Sunday (according to blockchain.com). Hashrate is the amount of computational power used to validate transactions in a proof-of-work blockchain like Bitcoin. Wondering how crypto transactions work?

Read how do cryptocurrency transactions work in detail

Source: Forkast

 

Cardano Becomes Network With The Most Transaction Activity

Crypto data aggregator Messari.io revealed that Cardano had surpassed Bitcoin and Ethereum in terms of adjusted transaction volume, rising to first place on Sunday. It has been reported that for the past 1500 days or so, Cardano has been able to handle transactions without any disruptions, drawing more users to its network.

In addition to this, the introduction of “SundaeSwap”, a decentralized exchange which is known for its top-notch security measures, and the launch of “Plutus”, a platform that provides native smart contract language and essential tools to handle smart contracts easily; on the Cardano blockchain has attracted investors and DAPP developers respectively, increasing its popularity.

Read: Deep Dive Into ADA Cryptocurrency 

Source: ZyCrypto

 

Ripple Partners With Digital Euro Association To Work on CBDCs

Ripple stated in a blog post, “Existing public blockchains cannot meet the needs of CBDCs because a Central Bank requires more transaction privacy and control over its currency than a public ledger can offer, which means it will most likely opt to create a CBDC on a private ledger that can also operate at the required scale”.

However, this private ledger should also be able to connect with today’s global financial infrastructure, including CBDCs and digital currencies. Ripple proposes XRP ledger’s distributed ledger technology as a solution to this problem as it is “built for payments” and “designed for issuing currencies”. 

Since then, they have partnered with Bhutan’s Central Bank, among others, and recently even the Digital Euro Association, to assess how a private ledger can help countries execute their CBDC pilot.

Read: Crypto taxation guide Budget 2022

Source: CryptoGlobe

 

Crypto Market Trend February 15, 2022

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

Top 3 Crypto Gainers 

Cryptocurrency  Price (latest by February 15, 2022)  Change in % 
GALA (GALA) ₹26.78 20.19%
The Graph (GRT) ₹36.53 17.11%
Hedra Hashgraph (HBAR) ₹20.420 15.54%

*All prices are latest by 4 PM February 15, 2022.*

Top 3 Crypto Losers 

Cryptocurrency  Price (Latest by February 15,  2022)  Change in % 
USD Coin (USDC) ₹77.99 1.53%
Binance USD (BUSD) ₹78.00 1.55%
Tether (USDT) ₹78.04 1.56%

*All prices are latest by 4 PM  February 15, 2022.*

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