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Daily Crypto News Feb 8, 2022: Top 3 crypto updates for today

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In today’s Crypto News, the market seems to do better since the last drop and is slowly but steadily recovering. While the investors have their eyes on the crypto market movements, KPMG Canada has decided to list Bitcoin and ether to its balance sheet. It has added BTC and ETH to the corporate treasury. 

Drips protocol subscription and recurring payment system went live on Polygon. Drips is basically a Web3 protocol generating recurring income with the help of non-fungible token (NFT) subscriptions and memberships. 

Polygon has again raised $450 million with a funding round led by Sequoia Capital for the development and onboarding of its latest projects and sustaining its team of 240 members. With this announcement, the price of the native token of the blockchain, MATIC went UP by 17%. More on this crypto news is below. 

Daily Crypto News  Feb 8, 2022

KPMG Canada becomes the latest firm to add Bitcoin and Ethereum to the balance sheet

KPMG Canada is quite bullish on crypto assets and shall also consider investments in ETH and BTC in the near future. According to an interview with an executive, the firm is educating the institutions about decentralized finance, decentralized autonomous organization, NFTs, and the metaverse. It has finally joined the ever-growing list of companies getting serious about crypto and incorporating it in their treasury accounts. 

It was on Monday, the company made an announcement that it has added ether and bitcoin to its corporate treasury. According to another interview with a partner and advisory and risk consulting blockchain leader, the company seems to be taking a prudent approach towards the crypto space and has thus far only considered buying bitcoin and ether. 


Drips protocol brings subscriptions and recurrent payments to Polygon

Wondering when the tokenized subscription and memberships will be live for  Drips protocol? Well, worry not because it is already live on Polygon. With the new launch of Polygons PoS, Drips are now leveraging the network’s low transactions fees. The consensus mechanism and the massive ecosystem are also helping the protocol. 

Drips is basically a Web3 protocol generating recurring income with the help of non-fungible token (NFT) subscriptions and memberships. Drips allow the Polygon users to stream funds in a periodic manner to any other user, while also allowing collection from multiple streams with a single transaction. 

Read: Top 10 Altcoins to watch out for in 2022


Polygon accumulating $450M in a funding round led by Sequoia Capital 

Polygon (MATIC) has raised another $450 million in an investment funding round led by Sequoia Capital of India. According to Polygon, this capital shall help the ecosystem to fund and pay its team. There has been a positive impact of this crypto news on the native token of the blockchain. MATIC rose UP by 17% after this announcement. 

The funding round was led by Sequoia Capital, one of Silicon Valley’s oldest yet most successful venture capital firms.  The other participants in the same were Galaxy Digital, SoftBank, Alameda Research, Tiger Global, Spartan Fund, Variant Fund, Dragonfly Capital, etc. According to the announcement, Polygon shall be allocating $100 million of the newly raised money to an ecosystem fund supporting the onboarding and development of new projects on the network. The remaining shall be used as buffer money to sustain the team of 240 people. The current market cap of this blockchain network is $13.3 billion and is Ethereum’s leading sidechain scaling solution. 

Source: Cryptobriefing 

Crypto Market Trend February 8, 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 8, 2022)  Change in % 
Shiba Inu (SHIB) ₹0.00275 26.70%
Ripple (XRP) ₹71.91 23.41%
Gala (GALA) ₹28.78 15.52%

*All prices are latest by 11:40 AM February 8, 2022.

Top 3 Crypto Losers 

Cryptocurrency  Price (Latest by February 8,  2022)  Change in % 
Helium (HNT) ₹2442.31 1.59%

*All prices are latest by 11:40 AM February 8, 2022.

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