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A look at the top headlines and cryptocurrencies to watch

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Here’s a quick break down of what’s been up in the cryptocurrency world:

  • Visa is moving towards allowing USD-backed cryptocurrencies for transactions on its network
  • The weekly inflow of cryptocurrency investment products has reached $21 million – the lowest since October 2020
  • According to PwC, the value of crypto related mergers and acquisitions deals doubled and as institutional interest in the cryptocurrency sphere increases, the M&A is expected to continue to rise
  • The market is dominated by Bitcoin, Ethereum followed by Binance Coin. BTC at $57,825 is close to hitting $60k, ETH stands at $1,815 and BNB is at $274
  • The NFT demand is surging with celebrities jumping in and releasing their exclusive NFTs. In three months, the total market cap of NFT projects has increased by 1,785%

Global developments:

  • Canadian securities regulators have published a detailed guide for cryptocurrency trading platforms
  • India is reported to be moving towards a bill banning cryptocurrencies
  • Bank of Thailand is struggling with cryptocurrencies – after a failed launch, another cryptocurrency is set to be launched in the near future
  • The Dubai Financial Services Authority published a report on “Framework for Regulating Security Token” for stakeholders’ review

New All-time High Coins

 

Solana (SOL) is on a steady upward trend and has established its all-time high at the current price of $20.32. The price of the coin has gone up by 13% while the daily trading volume of $272,033,321 declined by 35%. Solana ranks at 22nd in terms of market capitalization. The open source block chain project that provides decentralized finance solutions is known as the “Ethereum Killer”. The network revealed about the inflow of $40 million worth of investment.

Holo (HOT), the second all-time high crypto, has been on a sharp upward trajectory too. The coin established its all-time high of $0.015 today. The price has went up by 50% while the daily trading volume has surged upwards by 380%. The platform is used for hosting decentralized apps built on Holochain – an alternative to the block chain.

BitTorrent coin (BTT) is another top performer of the day. The cryptocurrency stands at the all-time high price of $0.0040. The price has increased by 10% in the 24-hour timeframe while the daily trading volume has increased by 110%. The file sharing and content platform ranks 3st in the market.

THORChain was in the grips of bears recently but the bulls have dominated the market as the cryptocurrency established an all-time high of $7.14. The price has increased by 11% while the daily trading volume went up by 83%. The decentralized liquidity platform enables users to easily exchange cryptocurrencies.

The Origin Protocol (OGN) established its all-time high at the current price of $2.26. The daily trading volume of $338,401,491 has increased by around 25%. The objective of the network is to create an online marketplace based on the Ethereum block chain and interplanetary File System (IPFS). The network recently entered into a strategic partnership with Brave Browser in order to facilitate the offering of NFTs.

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Can Solana (SOL) overtake Ethereum (ETH)?

Solana (SOL) year-to-date performance is a staggering 1,950% gains while Ethereum (ETH) year-to-date returns stand at just 252%. After the crash, both the cryptocurrencies have

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