The entire cryptocurrency space is still trading in the red zone. According to analysts, this bearish tendency is expected to continue through the month of January.
In today’s crypto news, Bitcoin is currently trading at $41,074 and is down by 1.32% over the last 24 hours. Ethereum, on the other hand, is trading at $3,027 (-2.39%) over the last 24-hours. Also, the entire cryptocurrency space has a market cap of $1,902,153,954,290 and a 24-hour trading volume of $92,712,926,049. As a reminder, this is a good time to keep holding onto your crypto assets.
Let’s find out some interesting crypto news for today.
Amidst the bearish trend of the entire crypto space, things are looking up for Fantom Network. In fact, transactions on the layer 1 blockchain platform have crossed that of Avalanche.
According to analysts, this increase in transactions has been attributed to Fantom’s growing interest in decentralized finance (DeFi).
Transactions on Fantom crossed those on Avalanche this week as opportunistic capital moved over to farm high yields on stablecoins, analysts said. $FTM $AVAX@shauryamalwa reportshttps://t.co/lGmdCRtdjB
— CoinDesk (@CoinDesk) January 7, 2022
Decentralized storage protocol Hector DAO’s $HEC token will now receive incentive grants from Fantom. According to reports, the incentive grant allocation is expected to commence in February 2022. And this will help bring Fantom Chain closer to its full potential.
Above all, Hector DAO will receive 208,333 $FTM tokens every month. And that is approximately $472,915 every month.
We’re so excited to continue working towards helping the Fantom chain to reach it's full potential.
— Hector Network (@Hector_Network) January 9, 2022
Today, Solana-based platform Crowny revealed details of an important update. In fact, all Crowny $CRWNY token holders on AscendEX global will be migrated to the Solana Network.
Notably, this strategic migration will take place on January 17, 2022.
An important @Solana migration update. 🚀
We will keep you posted! 📮 pic.twitter.com/YesEl1Ul3T
— Crowny 👑 (@crownyio) January 7, 2022
Finally, today, the entire metaverse space has continued to attract the attention of companies worldwide. With many of them joining ETH-based metaverse like Decentraland and The Sandbox.
BinanceUS, the US arm of cryptocurrency exchange Binance, has however shown interest in Solana-based Portal metaverse. Following up with plans to set up shop in this metaverse.
We are very happy to announce a new collaboration for Portals Downtown: @BinanceUS!
Drop by to get the latest news from https://t.co/TGX7JpOC0H, attend events, view charts, and enter special giveaways.
— Portals 🗺 (@_portals_) January 5, 2022
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The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article has been sponsored by Hector Network. Copyright Altcoin Buzz Pte Ltd.