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Daily Crypto News Jan 25, 2022: Top 3 Crypto Updates for Today

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With the crypto space events on the rise globally, various countries are venturing into the crypto space with their CBDCs. The latest news from the Bank of South Korea says that they have completed the first phase of mock testing their CBDC and are now moving forward with their second round of testing. 

In the recent broad bearish market of the crypto space, Solana the Ethereum killer went offline for more than 24 hours, resulting in losses for the invested traders. On Jan 21, 2022, it was declared that the event had occurred due to the network suffering an outage. 

The Cardano Network was been working on improving its blockchain for a while now; including the addition of smart contract capability, which has helped increase activity on the network, as indicated by a variety of indicators.

Quick Crypto News Roundup! 

Daily Crypto News  Jan 25, 2022

Bank of Korea completes the first phase of the digital currency pilot

The Bank of Korea has successfully completed the first phase of its central bank digital currency (CBDC) mock testing, which started in August 2021. The South Korean central bank also stated that the second phase is currently underway. The second phase of the CBDC pilot would test real-world functionalities such as cross-border remittance, retail payments, and offline payments. Bank of Korea (BOK) is also looking to onboard financial institutions for the second phase.

Read more on South Korea’s CBDC, here.

Source: CoinTelegraph

Latest Solana outage leave users liquidated

On January 21, the Solana network team revealed that the network was suffering an outage. Then, the cause of the “performance degradation” was unknown, but 24 hours after investigation, it was revealed that the issue was caused by bots performing “excessive duplicate transactions.” Available information has shown that DeFi users of the blockchain were left to rue their losses due to the network outage.

Read more on the Solana incident, here.

Source: Cryptoslate.

Cardano’s average blockchain load hits an all-time high of 94%

A number of significant developments have taken place on the Cardano (ADA) blockchain in the last few months. As a byproduct of the recent growth, the average blockchain load on the Cardano network reached 94.49% on January 22, 2022; the highest figure recorded on the network since January 16, when the indicator spiked to reach 91.79% from January 14, which stood at 55.23%.

Read more on Cardano’s new improvement, here.

Source: FinBold

Additional Read: Investing in Cardano? Everything to know about ADA cryptocurrency 

Crypto Market Trend January 25, 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 25, 2022)  Change in % 
Alpaca Finance (ALPACA) ₹ 27.59 14.00%
Cosmos (ATOM) ₹ 2956.23 12.89%
Fantom (FTM) ₹ 188.32 11.58%

*Prices are latest by 2:15 Pm January 24, 2022.*

Top 3 Crypto Losers 

Cryptocurrency  Price (Latest by January 25,  2022)  Change in % 
Dash (DASH) ₹ 7326.50 -6.12%
Civic (CVC) ₹ 17.03 -5.13%
PancakeSwap (CAKE) ₹ 600.85 -4.30 %

*Prices are latest by 2:15 Pm January 24, 2022.*

Additional Read: STP Network Price Prediction 

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