While the entire world is still discussing the regulations around cryptocurrency, El Salvador has already taken the lead by adopting Bitcoin as its national currency. However, in the recent Bitcoin conference week, president Bukele announced his plans of creating the world’s first Bitcoin city where all the transactions will be functioning around Bitcoin and other cryptocurrencies. Citizens using digital assets to transact will be relieved from major forms of taxes. The entire goal of this project is to create more awareness around cryptocurrencies and accelerate their mass adoption. Read more about the futuristic plans of president Bukele below.
Ethereum and Bitcoin might dominate the cryptocurrency space in terms of market capitalization but according to a recent study, the most searched cryptocurrencies on Google USA are the dog-based meme coins. Dogecoin and Shiba Inu are trending in 30 out of 50 states in USA and Americans have shown a lot of inclination towards these meme coins rather than big projects with actual use cases. Read more on this below.
Ethereum needs to level up to continue its leadership in the DeFi and NFT sector says an expert. Various issues such as high gas fees, low transaction speed, and slow updates are major hindrances in Ethereum’s way to continue its leadership. As the world is slowly adopting DeFi and there has been quite a surge in the NFT and blockchain gaming sector, developers, users and traders have started to look for better options than Ethereum. Read what challenges Ethereum is facing and what alternatives people are looking for below.
Before we dive into the hottest crypto trends for today, let’s explore the top losers and gainers for the day. Also, don’t forget to take a glance at the three coins getting listed today on CoinDCX.
Crypto Market Trend November 22, 2021
Top 3 Crypto Gainers
| Cryptocurrency | Price (latest by November 22, 2021) | Change in % |
| Zcash (ZEC) | ₹17,773.33 | 20.83% |
| Civic (CVC) | ₹47.98 | 10.74% |
| Solana (SOL) | ₹17829.36 | 3.75% |
*Prices latest by 10:20 AM Novemeber 22,2021.*
Top 3 Crypto Losers
| Cryptocurrency | Price (Latest by November 22, 2021) | Change in % |
| Tezos (XTZ) | ₹407.98 | 7.64% |
| Alpaca Finance (ALPACA) | ₹60.71 | 7.37% |
| dYdX (DYDX) | ₹1037.10 | 7.23% |
*Prices latest by 10:20 AM Novemeber 22,2021.*
Crypto Updates Nov 22, 2021
El Salvador on the expedition to build World’s first Bitcoin City
El Salvador makes another move to express its love for Bitcoin. The El Salvador president, Nayib Bukele, revealed that the country is planning to build the world’s first Bitcoin city. The project is being backed by a Bitcoin-backed government-issued bond.
While talking about the project at the Bitcoin week conference, the president revealed the master plans he has for his Bitcoin-loving nation. He aims to amplify awareness around Bitcoin and accelerate Bitcoin adoption among the citizens. There are loads of perks for people residing in this city. The major forms of taxes such as capital gains, income tax, and property tax shall not be collected from the residents of the city who carry out transactions in Bitcoin or any other digital asset for that matter. Read more about the plan President Bukele has for Bitcoin city and how it would affect cryptocurrency adoption across the world here.
Source: Blockchain.news
Dogecoin and Shiba Inu remain the most searched cryptocurrencies on Google USA for the entire month of November
Despite Bitcoin being the largest cryptocurrency in terms of market capitalization, Dogecoin and Shiba Inu remain the most searched coins on Google USA. Everyone who thinks meme cryptocurrencies are useless at this point in time might have to rethink and revise their expectations. One of the recent studies suggests that in most parts of the USA people are more interested in puppy-themed meme coins such as Shiba Inu and Dogecoin than the serious big projects with actual use cases.
Although a larger chunk of the market capitalization is still dominated by Ethereum and Bitcoin in 2021, Dogecoin and Shiba Inu reside within the hearts of Americans trending in 30 out of 50 United States.
Read more on why Americans are more inclined towards these dog-themed coins and what percentage of their portfolio is dominated by these coins here.
Source: Cryptopotato
Experts believe Ethereum’s problems are hindering its leadership in the DeFi ecosystem
Ethereum is everyone’s favorite however most of the DeFi projects have started to look for other alternative blockchain protocols. Here’s what the experts have to say. The debate over using Ethereum as the Swiss Army of the entire crypto universe is heating up again. After the surge in popularity of NFT, DeFi and blockchain gaming, developers have started to question the feasibility of Ethereum blockchain to scale up the already existing applications. The excess fees, long transaction times, and slow updates have been worrying the developers, users as well as HNI investors.
Read where the DeFi and NFT world is heading towards and what is expected out of Ethereum to continue its leadership in the crypto space here.
Source: Cryptopotato
DCX News
Three coins *Crypto.com, FTT, and THORChain RUNE to be listed on CoinDCX today. While the first makes its way to CoinDCX pro, users can get access to the other two via the CoinDCX app. Here are a few trivia you must know about these coins before you start your own research around them.
Know your Coin Better
- *Crypto.com (CRO)
| Crypto.com Coin (CRO) is the native cryptocurrency token of the Crypto.com chain. |
| CRO owners can stake their coins on the Crypto.com chain and act as validators to earn fees for processing transactions across the network. |
| Users can earn token rewards for select listings by staking CRO. |
*Crypto.com will be listed only on CoinDCX pro.*
- FTX Token (FTT)
| FTT is the native cryptocurrency for the crypto derivatives trading platform FTX. |
| The FTX team comprises the largest crypto traders in the past few years who found unresolved issues with the mainstream crypto future exchanges. |
| Centralized collateral pool, clawback prevention, and Universal stablecoin settlement are some of the features that help FTX stand out. |
- THORChain (RUNE)
| THORChain is a decentralized liquidity protocol allowing users to easily exchange crypto assets across a wide range of networks. |
| It uses a unique system to mitigate the issues of impermanent losses or often called temporary losses. |
| It uses various technologies running at the backend for a seamless experience even for inexperienced traders. |
Source: CoinMarketCap
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