Daily Crypto News December 11, 2021: Top 3 Crypto Updates For Today

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Despite several reactions from senators in the United States, Meta has started testing its Novi wallet with Whatsapp. This is a digital wallet to help with the transaction of crypto or digital currency through Whatsapp. The idea is to make sending money as smooth as sending a message. Will we be sending BTC to our friends via Whatsapp very soon? Read below.

S0liProof will introduce KYC and audit services for the DeFi sector. The company has already started work on developing the solution and will be launching it very soon. This idea came about as a solution to the increase in hacks and scams in the challenge space.

According to reports, Solana has started to gain more attention and traction after Ethereum gas charges hit a monthly record high. Solana grew 177% in September, 35% in October and continues to grow in November but not at the same pace. Does this mean Ethereum might have some difficulty because of Solana? Read in detail below.

Quick summary of crypto news!

Daily Crypto News December 11, 2021 WhatsApp started testing currency payments with Meta’s Novi wallet

Whatsapp begins testing the digital wallet despite several objections from senators in the United States. The head of Meta’s Novi fintech and cryptocurrency unit, Stéphane Kasriel, officially made an announcement on Wednesday regarding Meta’s testing on Novi’s wallet with Whatsapp.

The main focus of this wallet is seamless transactions where sending money to family and friends can be as easy as sending messages. This feature is currently only available to a few users in the United States.

Learn more about Novi wallet testing using WhatsApp in detail.

Source: Cointelegraph

SolidProof Introduces Audit and KYC Services for DeFi Projects

A Germany-based blockchain auditing company, SolidProof has finalized the development of automatic auditing tools for the DeFi industry. The company plans to launch these solutions very soon. Adoption of the DeFi sector at the retail and institutional levels is growing at a tremendous rate. However, there are often several security breaches such as hacks, scams and other such incidents targeting DeFi protocols are also on the increase. The SolidProof Automated Auto Tool (SAAT) aims to help blockchain projects improve the quality as well as the security of code by combating developer incompetence.

Learn more about SolidProof audit services for the DeFi space in detail.

Source: Cryptoglobe

Solana rose as Ethereum gas fees hit new highs

The Total Locked-In Value (TVL) on Solana rose in November as Ethereum still struggled with its high transaction fees. Investors have started to move to Solana in search of lower transaction fees. According to reports, the value of DeFi business continued to grow for Solana over the past month, but the pace was slow compared to the growth seen in October.

Solana saw significant growth in September with 177% while it increased by 35% in October. In November, fees spent on the Ethereum network continued to rise and hit a monthly record high. According to reports, 77% of Solana tokens are stake on the network which earns a return to their investors. The value at stake exceeded 84 billion dollars.

Learn more about Solana’s growth in the challenge space and what that means for Ethereum.

Source: Cryptoglobe

Crypto Market Trend December 11, 2021

Here’s a quick rundown of the top crypto winners and losers of the day.

Top 3 crypto winners

Price of the cryptocurrency (no later than December 11, 2021) Change in% dYdX (DYDX) 750.33 4.05% Quant (QNT) ₹ 13,825.81 3.56% Filecoin (FIL) ₹ 3,186, 42 3.17%

* Prices are at 9:40 a.m. on December 11, 2021 at the latest. *

Top 3 crypto losers

Cryptocurrency Price (No later than December 11, 2021) Change in% Terra (LUNA) 5,111.16 7.34% Avalanche (AVAX) 6,667.52 9.76% Loopring (LRC) ₹ 191.97 7.22%

* Prices are at 9:40 a.m. on December 11, 2021 at the latest. *

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