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Daily Crypto News Jan 23, 2022: Top 3 crypto updates for today

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Today in Crypto News, Polkadot is set to launch its Ethereum virtual machine. According to experts, GLMR can become the top contender in 2022 if this EVM becomes a hit among developers and investors. 

After the massive success of the NFT drop in the previous year by Adidas, it is set to team up with the Italian luxury brand Prada to launch the first-ever NFT collaboration. NFTs continue to grow bigger and bigger even this year. 

1inch network has announced its expansion game. It is going to expand its aggregation protocol to Avalanche while its Limit Order protocol shall be expanded to the Gnosis chain. Read below in detail what it means for the 1inch users? 

Quick Crypto News Roundup! 

Daily Crypto News  Jan 23, 2022

Moonbeam (GLMR) launches EVM interoperability closer to the Polkadot network

GLMR can become a top contender in 2022 if Moonbeam’s planned interoperability with the Ethereum network becomes a hit among developers and Investors. Cross-chain compatibility has become a necessity for the layer-one protocol. This is primarily because the majority of the relevant funds and projects are locked in the smart contract platform. After years of development, the Polkadot network has finally moved towards its first Ethereum virtual machine (EVM) compatible smart contract protocol with the launch of Moonbeam (GLMR). This platform has been designed such that it will be easy-to-use tools for Ethereum developers. The developers shall find it easy to build or re-deploy solidity projects in a substrate-based environment. 

Read more about Polkadot’s EVM in detail and what it means for the blockchain network in 2022. 

Source: Cointelegraph  

1inch Network to expand to Avalanche and Gnosis Chain

It was on Wednesday that 1inch network announced its plans to deploy the 1inch aggregation Protocol on Avalanche and the 1inch Limit Order Protocol on Gnosis chain. According to the reports, 1inch shared about its future plans of expanding its capabilities within the decentralized finance (DeFi) sector. 

The main aim of the 1inch protocol is to offer the best deals across the blockchain sector. This new expansion will help the 1inch users in cheaper and faster transactions. 

Read in detail about expansion plans of 1inch to Avalanche and Gnosis chain

Source: Cointelegraph 

Prada and Adidas to leverage Polygon Blockchain for first Collaborative NFT project 

According to the official handle of Adidas, Italian Luxury fashion house Prada along with this sportswear giant have started to build the first NFT collaboration project on the Polygon blockchain. After the massive success of Adidas’s NFT venture undertaken in the previous year, it is all decked up to the team with Prada for the launch of a user-generated NFT art project. According to Polygon chain, it is a significant milestone to keep the eyes on. 

Read more in detail about Adidas-Prada NFT collaboration on the Polygon blockchain. 

Source: U Today 

Crypto Market Trend January 23, 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 23, 2022)  Change in % 
Shiba Inu (SHIB) ₹0.00191 21.4%
Terra (LUNA) ₹5771.07 21.03%
PancakeSwap (CAKE) ₹691.12 16.61%

*Prices are latest by 12:30 PM January 23, 2022.*

Top 3 Crypto Losers 

Cryptocurrency  Price (Latest by January 23,  2022)  Change in % 
Filecoin (FIL) ₹1635.20 4.33%
Theta Token (THETA) ₹240.58 0.47%
Tezos (XTZ) ₹254.44 0.15%

*Prices are latest by 12:30 PM January 23, 2022.*

Additional Reads: Terra (LUNA) vs Avalanche (AVAX): Comparative analysis 

Additional Reads: Decentraland (MANA) vs Sandbox (SAND): Comparative analysis 

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