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Crypto News: Here are the most popular stories from across the cryptosphere that were featured on BeInCrypto last week.
Top 5 IOT Projects for 2023
One of BeInCrypto’s most popular articles last week featured the top 5 Internet of Things (IOT) projects for 2023. IOT refers to a system of smart devices that use internet connectivity and artificial intelligence to collect and analyze data.
Smartphones are the most common IOT device, but they range from consumer electronics to highly sensory devices. In order to integrate blockchain technology into the Internet with Web 3.0, we first had to make the Internet ubiquitous in everyday devices with Web 2.0.
Several IOT companies have recently made significant progress that heralds a prosperous new year. With Tangle, a new type of distributed ledger, IOTA recently established partnerships with Bosch and Fujitsu. We have plans to help create a new ecosystem of connected devices that can process payment transactions.
Helium is creating a decentralized network of wireless devices powered by a cryptocurrency called HNT. Decentralized networks enable a variety of applications, from supply chain management to agricultural monitoring. Ambrosus is also developing a decentralized platform for supply chain development, powered by its own crypto AMB.
WISE and Atonomi round out the list. The former is intended to be a one-stop-shop for his IoT devices, while the latter provides a blockchain-based infrastructure for secure device identification.
Cryptography – socially speaking
Tether payment volume
The following stories all feature a return to the relative shape of several major cryptocurrencies, starting with the stablecoin Tether (USDT).Largest Stablecoin By Trading Volume Hits Milestone Last Year, According To Recent Reports TweetThe total settlement value of Tether transactions reached $18.2 trillion, surpassing both Mastercard and Visa. The latter’s two payment giants each processed $14.1 trillion and he processed $7.7 trillion worth of transactions.
Tether’s high trading volume indicates an upward trend in stablecoin usage over the past few years. Stablecoin adoption is on the rise, especially in countries struggling with economic and currency instability. Despite this, Tether had a difficult year overall. A series of collapses has finally caused concerns over reserves and solvency, temporarily losing the peg.
Solana returns to top 10
Solana also celebrated her recent accomplishments as Tether started the year with some good news. Earlier this week, Solana (SOL) successfully reversed Polygon as his 10th largest crypto asset by market capitalization. According to CoinGecko data, this comes after his seven-day rally, which has climbed more than 70%.
Solana was adversely affected following the collapse of cryptocurrency exchange FTX. Blockchain and cryptocurrencies were Sam Bankman-Fried’s favorites and suffered a close link with his downfall. However, since the start of the year he has recovered by more than 135%, making him one of his best performances to date.
Ethereum hits 10-week high
Finally, the price of Ethereum plunged below $1,600 several times between January 16th and 18th, surging to its highest level in 10 weeks. A little bit, trading at around $1,550.
Meanwhile, rising network demand has pushed Ethereum issuance back into deflationary territory, gaining momentum in anticipation of an upgrade in Shanghai. This will allow Beacon to phase out the Ethereum that has been staked on his chain for over two years.
NFT sales this week
Non-fungible token sales were a bit volatile this week, but eventually rose overall. On January 17th, the number of sales corresponding to the daily minimum sales was lifted. However, this surged the next day, taking him over $24 million before dropping again. Bored Ape Yacht Club continues to top the NFT collection, with her $64 million in sales this week.
crypto coin news
Frax Share (FXS) led the market on a strong week for altcoins, up 53%. Decentraland (MANA) is up 43%, Convex Finance (CVX) is up nearly 40% and Enjin Coin (ENJ) is up 36%.
Master of the Multiverse
Our Senior Analyst Valdrin Tahiri explains why MultiverseX, formerly known as Elrond, is up 60%.
Disclaimer
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