Video Details

Here are the top 5 crypto news for the day! 

Let’s dive into these news headlines one by one and see how they’ll be affecting the crypto space as we know it, in the coming days.

Revolut Announces 11 New Tokens for Trading in Cryptocurrencies

 

London-based challenger bank, Revolut announced 11 tokens will be added to its exchange platforms. The tokens that are revealed for trading are small in market capitalization . 

The eleven tokens that are added to the exchange platforms are Cardano, Uniswap, Synthetix, Yearn Finance, Uma, Bancor, Filecoin, Numeraire, Loopring, Orchid, and The Graph. 

The PR reads:

“You asked for new tokens, we’ve delivered. We’ve been tracking hot tokens and top movers to bring our UK and EU customers 11 new cryptocurrencies.” 

The company in 2021 made a progressive move by adding certain numbers of tokens in a single batch. 

 

Alonzo Update Launching Soon on Cardano Blockchain

 

The Alonzo has upgraded, bringing smart contracts to Cardano (ADA) blockchain around August or September this year. 

It might be an operational competitor to Ethereum, a blockchain network notable for its smart contracts.

Alonzo is said to be the third most important upgrade to Cardano on its transition from Shelley to Goguen. They allowed developers to create native tokens on Cardano.  

 

Compound (COMP) Becomes the First DeFi to Hit $10B in The Total Value Locked

The algorithmic interest rate protocol Compound (COMP) has become the first DeFi project to exceed $10 billion in total value.

Milestone achieved by the advanced platform of Compound (COMP) finance was highlighted and shared by the team of DeFi Pulse through Twitter.

A total of $10.06 billion is locked in Compound (COMP) Finance. Half of this value comprises 2.4 million ETH valued at $5.097 billion using Ethereum’s current value at $2,124.

\

Grayscale Increase Total AUM to $46.1 Billion, Add $1 Billion in BTC

 

The investment giant Grayscale recently added one more billion worth of Bitcoin calculating the total Asset Under Management (AUM) near $50 billion. 

As per recent reports, the total AUM of Grayscale has expanded to more than $3 billion. Shortly after the addition, the crypto-trust added five new tokens for their eligible accredited investors. 

Nandan Nilekani Believes Crypto Will Back India Reach $5T SME Goal

 

Co-Founder of Infosys, Nandan Nilekani, recently tweeted that the growing popularity of cryptocurrency in the country is the key to bridging India’s funding gap of worth $250 billion. 

According to him, the popularity of the crypto assets will reduce this gap until 2025, and India will flourish as a $5 trillion economy.Nilekani in responding to a question stating “How does India become a   $5T economy?” answers; 

“We’ll need to close the $250B financing gap for India’s small businesses by attracting global, risk-tolerant pools of capital — and as iSPIRT details, the rapidly growing crypto-economy may be one of the key ways“.