Daily Crypto News Jan 22, 2022: Top 3 crypto updates for today

In today’s Crypto News, Meta is set to roll out a new feature for the Facebook and Instagram profiles where the NFT enthusiasts can show off their NFT holdings. Although it is great news for all the social junkies who are also NFT lovers, the development is still in a nascent phase and might take time to roll out. 

NFT just went mainstream? If you thought it already was, then let us tell you that Twitter has taken it up a notch. Twitter has introduced an NFT profile picture verification feature. Although the feature is available only to a set of users based on verification and device it is indeed a great step for NFTs. 

Right before Bitcoin’s recent decline, Cardano (ADA) showed its potential by surpassing Ethereum its competitor in trading volume. Despite the high trading volume, the blockchain protocol demanded very less gas fees as compared to its competitor. Is Cardano going to beat Ethereum? Read more in detail below. 

Quick Crypto News Roundup! 

 Daily Crypto News  Jan 22, 2022

Meta to integrate NFTs on Facebook and Instagram profiles

The multinational tech giant Meta is diving into the non-fungible sector (NFTs) to integrate a feature that will allow users to show off their NFTs on Instagram as well as Facebook profiles. According to expert reports, the company is currently working on its prototype and shall soon launch the same. 

Meta is also in talks to release a marketplace to buy and sell NFTs. Although it is very exciting news for all the NFT enthusiasts the projects are still in a nascent stage and will take time to come to fruition. 

Read in detail about Meta launching technology for Facebook and Instagram profiles. 

Source: Cointelegraph 

Twitter’s NFT profile Picture verification Feature 

Twitter has come up with the widely anticipated NFT verification feature for all its users. This feature is being rolled out phase-wise and is currently available only for a set of users based on verification and the type of device being used. This feature is also a part of all the various NFT ventures undertaken by the company in the past 12 months. Twitter has come up with this feature to let all the NFT enthusiasts proudly show off their holdings to the general public. The feature was in the development stage since the last quarter of 2021. 

Read more in detail on how Twitter plans to bring NFT to mainstream status. 

Source: ZyCrypto 

Cardano records higher volume and more than 500x cheaper fees than Ethereum 

Following a very strong market performance, right before Bitcoin’s recent price decline, Cardano (ADA) and its potential are once again at the forefront of the discourse in the cryptocurrency space. Cardano had a higher trading volume of $6.5 billion than its rival Ethereum which then had a trading volume of $5.8 billion. The astonishing part about this is despite having a higher volume, ADA was 568 times cheaper than Ethereum costing only $76500 for a total of $6.5 billion in transactions. While ETH charged $38.6 million more for fewer transactions. 

Read more in detail about Cardano recording higher volume for cheaper fees than Ethereum. 

Source: Finbold

Crypto Market Trend January 22, 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 22, 2022)	Change in %
Maker (MKR)	₹153491.84	2.54%
Tether (USDT)	₹81.49	1.21%
Binance USD (BUSD)	₹81.47	1.2%

*Prices are latest by 12 PM January 22, 2022.*

Top 3 Crypto Losers 

Cryptocurrency	Price (Latest by January 22,  2022)	Change in %
Harmony (ONE)	₹15.84	21.63%
Alpaca Finance (ALPACA)	₹23.73	25.35%
Terra (LUNA)	₹4966.66	21.44%

*Prices are latest by 12 PM January 22, 2022.*

Additional Reads: Uniswap vs PancakeSwap: Comparative analysis 

Additional Reads: An analysis of DeFi growth and NFT Hype