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Daily Crypto News Jan 28, 2022: Top 3 crypto updates for today

Crypto News

Every day is a day full of excitement in the crypto space. In today’s crypto news, Vladimir Putin, the president of the Russian Federation believes that crypto mining can provide a competitive edge to the nation when compared to other nations. Although he believes that the digital asset has potent risk due to its immense volatility he is in favor of crypto mining. 

The entire world has understood the disruption cryptocurrencies are bringing to the finance sector and all the governments across the globe are figuring out ways to regulate the same. It was on January 26, a member of parliament in the UK proposed that the nation should come up with policies to regulate the new innovation of cryptocurrency and should become home to Fintech companies. 

According to the latest reports by Ark Invest, Ethereum is believed to cross the $20 trillion market cap by 2030 with the price of 1 ETH standing at $170,000. The report also suggested that the price of one BTC by 2030 shall be $1 million based on several use cases. Read more about it in detail below. 

Quick Crypto News Roundup!

Daily Crypto News  Jan 28, 2022

Crypto Mining can be advantageous for Russia

According to the latest statement by Vladimir Putin, President of the Russian Federation, although cryptos do have risks given their volatility asset mining can prove beneficial for Russia. He believes that cryptocurrency mining can provide Russia with a certain competitive advantage. 

This comes after the Bank of Russia intensified its stance against crypto by proposing a total ban. The arguments given by the institution were that it reminds of the pyramid scheme which is against the sovereignty of the nation. Putin says the regulations around crypto are in the spotlight and although they are volatile he is in favor of crypto mining. 

Read in detail what Vladimir Putin has to say about crypto mining and how can it be beneficial for Russia. 

Source: Cryptopotato

UK member of parliament claims the UK to be home for FinTech and crypto

After the rapid expansion of cryptos, governments across the globe are coming up with measures to regulate this digital asset. Every government is pondering on its advantages and ways to regulate the same. And thus the UK has also entered the fray. The current member of parliament from West Suffolk, Matt Hancock spoke to the MP’s in the house of commons on January 26 on why the UK should be making policies for the new innovations such as FinTech and cryptos. 

Hancock believes that these technologies possess the ability to disrupt the financial sector and become an economic driver for the UK post-Brexit. he compared the innovation that crypto brings to the table in the Fintech world to the disruption social media brought to the world of communication. 

Read in detail what UK MP has to say about FinTech and cryptos. 

Source: Finbold 

Additional Read: Top 10 Metaverse Cryptos 2022 by market capitalization

ETH shall hit $20 trillion market cap by 2030

According to the latest reports by Ark Invest, the market cap of Ether shall reach $20 trillion with Bitcoin’s price crossing 1 million by 2030. This report was generated based on the use cases of BTC and how Ethereum is slowly but steadily capturing the DeFi space. According to the report if Ether meets or exceeds the $20 trillion market cap in the next ten years, the price per ETH would stand at $170,000 to $180,000. The report also predicted great things for Bitcoin (BTC) with its price crossing $1 trillion by 2030. 

Read in detail what Ark Invest’s report has to say about Ethereum and Bitcoin 

Source: Cointelegraph 

Crypto Market Trends January 28, 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 28, 2022)  Change in % 
OMG Network (OMG) ₹363.84 6.33%
Basic attention token (BAT) ₹69.10 4.69%
FTX Token (FTT) ₹3110.93 5.21%

*Prices are latest by 3:30 PM January 28, 2022.*

Top 3 Crypto Losers 

Cryptocurrency  Price (Latest by January 28,  2022)  Change in % 
Terra (LUNA) ₹4207.60 12.58%
Near Protocol (NEAR) ₹841.07 7.32%
Gala (GALA) ₹15.13 7.9%

*Prices are latest by 3:30 PM January 28, 2022.*

Additional Read: Investing in Cardano? Take a deep dive into ADA crypto 

 

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