Major US Bank, Bank of America (BoA) compared Solana blockchain to the world’s largest credit card network, Visa. In a research note published Tuesday, BoA research analyst, Alkesh Shah expressed optimism for the top smart contract platform over its ‘scalability, low transaction fees, and ease of use,’ going ahead to add: “Solana could become the Visa of the digital asset ecosystem.” Shah believes Solana even has the potential to take over Ethereum by distinguishing itself through ‘user adoption and developer interest.’ Ethereum, meanwhile, could become the blockchain for ‘high-value transactions and identity, storage and supply chain use cases,’ while Solana grows itself as a settlement layer. Since its launch in 2020, Solana has settled over 50 billion transactions, has more than $11 billion in total value locked, and has been used to mint over 5 million non-fungible tokens (NFTs). Visa, on the other hand, processed 164.7 billion transactions on Sept. 30, 2021. When comparing the transactions per second (TPS) on blockchain networks to those performed on credit card networks, Visa can theoretically handle at least 24,000 TPS but averages around 1,700 while the TPS for Ethereum stands at 15. In comparison, Solana overtakes both Ethereum and Visa with a theoretical limit of 65,000 TPS. Bank of America further stated that Solana and other alternative blockchains could even grab the market share from Ethereum over time. Currently, Ethereum has a market cap of $402 billion, which is more than eight times greater than Solana’s market cap. According to CoinMarketCap, SOL is currently the fifth-largest cryptocurrency with a market capitalization of $47 billion.

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CELR coin price action reflects increased chances of a double bottom breakout to drive the price higher above the $0.10 mark. While blockchain can be exciting, however, it leaves a lot to be desired when it comes to the speed of transactions and efficiency. Celer Network is a cleverly designed layer-2 scale solution that allows off-chain transactions processing.  The Celer platform provides rapid, easy as well as secure transactions off-chain for smart contracts and payment transactions. Let us move ahead to read about the Celer technical analysis. Past Performance of CELR CELR coin price grew more than 25% from the $0.06 mark, resulting in the double bottom pattern in the daily chart. Moreover, recent bullish candles formation indicates a reversal in the short-term downtrend. The neckline of the pattern is at $0.085, the breakout of which will mark a bullish milestone. CELR/USD Daily Chart CELR Technical Analysis The CELR Network fills a vital space in the cryptocurrency market. Its interoperability and its blockchain-agnostic design are ideal for growing DeFi communities. Users can take advantage of Celer’s features for more ROI-related opportunities, as well as, save on fees and reduce time to complete transactions. The crucial EMAs (50, 100, and 200) showcase a rise in underlying bearishness evident by the death cross in the daily chart. Moreover, the EMAs can show dynamic resistance to the increasing prices. The CELR price action indicates resistance levels at $0.10 and $0.12 above the neckline at $0.80. The support levels are at $0.60 and $0.40 which can halt a downfall if the price fails to give a bullish breakout. The RSI indicator at 51% shows a spike in the slope as it breaks above the center mark and the 14-day SMA. Moreover, the SMA takes a bullish slope and indicates a rise in bullish powers. The MACD indicator shows a reversal in the MACD and signal lines as they overcome the influence of the recent bearish crossover. The lines regain the uptrend momentum and give a bullish crossover. Therefore, the indicator showcases a bullish revolt in action. Upcoming Trend The upcoming trend in the CELR coin price seems to be bullish as the chances of the double bottom breakout increase significantly. The technical indicators and the price action suggest the breakout opportunity. However, safe traders need to be patient and wait for the price action confirmation.

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Payments giant Visa has teamed up with the blockchain software company ConsenSys to build an on-ramp for central bank digital currencies (CBDCs). The pilot program will begin after discussions with roughly 30 central banks about its development and potential. According to Bloomberg, Visa will launch a ‘CBDC sandbox’ this spring, where central banks can experiment with technology after minting on Consensys’ Quorum protocol. The latest tech will allow the enabling of plugging into existing payments modules. This means traditional finance companies will be able to integrate the infrastructure to issue things like CBDC-linked Visa cards or digital wallets anywhere where Visa is accepted globally. Commenting on the development, Catherine Gu, Visa’s Head of CBDC, said: “CBDC could expand access to financial services and make government disbursements more efficient, targeted, and secure that’s an attractive proposition for policy makers. With CBDC, a central authority could send fast payments to a targeted set of users and program specific spending parameters.” Mastercard launched a similar CBDC testing platform in 2020. Currently, Visa offers payment cards linked to USD Coin, stablecoin issued by a consortium that includes Circle Internet Financial Inc. Earlier in December 2021, Visa helped in the formation of a global crypto advisory practice to help financial institutions develop their cryptocurrency businesses as demand for crypto products continues to grow. Meanwhile, ConsenSys is already one step ahead in helping develop CBDCs in Australia, France, Hong Kong, and Thailand.

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Dapper Labs, the firm behind Flow blockchain and NBA topshot has become the first NFT company to federally register to lobby with the US government.  The company now joins a growing list of crypto personalities/companies looking to influence Congress with crypto-friendly regulatory policies. According to the announcement, Dapper Labs recruited PR company Crossroad Strategies as their lobbying firm. Crossroad stated that it would lobby for ‘policy related to NFTs, blockchain and financial services.’ The NFT firm even hired Alison Kutler as its new head of government affairs in October 2021 to help with its lobbying affairs. Before joining Dapper Labs, Kutler was the chief of the Consumer and Governmental Affairs Bureau and special advisor to the chairman of the FCC between June 2015 and April 2017. Kutler has also registered to lobby on behalf of Dapper Labs and will now work together with the company on lobbying with the US government. NFTs have become increasingly popular in the world of politics. US congressional candidates have even taken to selling digital tokens for campaign fundraising and donor exclusivity. Even Melania Trump recently launched NFTs for donors to collect ‘rare and limited-edition pieces while benefiting children in the foster care community.’ Similarly, political action committee HODLpac is planning to sell NFT membership cards or campaign pins. Beyond the United States, a South Korean 2022 presidential candidate recently announced the issuing of NFTs as recipients to his election donors. The campaign will accept cryptocurrencies like bitcoin, ether, and one of three other cryptocurrencies under review.

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HNT coin price shows an excellent selling opportunity as the price retests the bearish breakout of the flag pattern. Should you sell as well? Helium seeks to enhance the capabilities of wireless communication Internet of Things (IoT) devices. The infrastructure surrounding IoT was in its infancy. However, developers were looking to add the concept of decentralization and hence refer to Helium in the form of “The People’s Network” in the official documentation. Its main draw will be for owners of devices as well as those who are looking to enter the IoT area, and financial incentives will provide more opportunities to reach out. Let us move ahead to read about Helium technical analysis. Past Performance of HNT HNT coin price grows more than 15% resulting in a bullish reversal from the horizontal level at $30. However, the price jump retests the bearish fallout of the flag pattern. Therefore, traders can shortly find the prices resuming the downtrend.  HNT/USD Daily Chart HNT Technical Analysis The news so far for HNT and the company has been positive, with the network expanding to 5G coverage, and the coin prices touching the $50 barrier. Furthermore, Helium has announced a new collaboration with the major carrier Dish. The HNT price action indicates resistance levels at $45 and $52 above the flag pattern. The support levels are at $26 and $21 which can halt a downfall if the price fails above $30. The crucial EMAs (50, 100, and 200) keep a positive alignment in the daily chart. The price action finds resistance near the 50-day EMA after the recent rise. The falling prices can find support at 100 and 200-day EMAs, and the fallout of each will increase the bearish attention. The RSI indicator at 47% fails to rise above the 14-day SMA and the central line in the daily chart. Therefore, the rejection can shortly increase the underlying bearishness. The MACD indicator shows the MACD and signal lines failing to sustain above the zero line after the bearish crossover. Therefore, the indicator gives a sell signal for the coin. Upcoming Trend The technical indicators reflect underlying bearishness ready to overtake the trend control in the HNT coin. Moreover, the price action shows the retest of the bearish breakout of the flag pattern. Therefore, the bearish signals overwhelm the bullish powers. Therefore, traders can find selling opportunities at current prices with a target near the 200-day EMA. However, safe traders can find an entry opportunity at the $30 fallout with the target at $21.

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Clothing retailer Gap is launching its first NFT collaboration with a limited-edition, gamified digital experience built on the Tezos blockchain. For this, the fashion retailer collaborated with Brandon Sines, the artist behind the NYC-based Frank Ape project, to create digital art featuring Gap’s iconic hoodies. Beginning Thursday at 9 a.m. PT, Gap’s digital collectibles will feature four levels- Common, Rare, Epic, and One-of-a-Kind, with Common being the first release. Each NFT from this initial drop will be priced at 2 tez (XTZ), or about $8.30. Additional drops will take place over the next two weeks, including the Rare drop on January 15 at 6 tez each ($25), the Epic drop on January 19 at 100 tez ($415) each and the One-of-a-Kind NFT to be auctioned on January 24. The collection will be available to shop exclusively on gap.com/nft and will be available on a first-come, first-served basis. “Gap has always been at the intersection of music, art and culture, so we are excited about this growth opportunity in the digital space with artists like Brandon Sines,” said Chris Goble, Chief Product Officer and General Manager of Gap North America. “With this partnership with Gap, the creative cycle has come full circle as it allows me to express the beautiful messages of Frank Ape while collaborating with one of the most classic brands in history. I cannot wait to share the physical and digital pieces we’ve been working on with Gap and Frank fans worldwide.”  The company is leveraging Tezos, a proof-of-stake blockchain network that uses a more energy-efficient approach to secure its network with a low carbon footprint. The company is one of many fashion labels to enter the world of NFTs and metaverse. For instance, major fashion brands including Burberry, Louis Vuitton, Gucci, and Ralph Lauren too have dabbled in the nascent industry last year in an effort to promote their brands.

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The US-based cryptocurrency exchange Coinbase has announced the acquisition of FairX, a CFTC-regulated derivatives exchange. According to the official announcement, the acquisition ‘is an important step toward Coinbase ultimately making the derivatives market accessible’ to its millions of customers in the United States. FairX is the operating name of LMX Labs, LLC, which received approval as a designated contract market (DCM) under the Commodity Futures and Trading Commission in (CFTC) November 20202. Launched in May 2021, the trading platform has already secured brokerage partnerships with industry leaders like TD Ameritrade and E*Trade, ABN AMRO, Wedbush, Virtu Financial. Coinbase will be initially looking to offer regulated crypto derivatives to market through the FairX existing partner ecosystem. The acquisition is set to close in the first quarter of 2022 with terms of the agreement not disclosed. “Over time, we plan to leverage FairX’s infrastructure to offer crypto derivatives to all Coinbase customers in the US. We want to make the derivatives market more approachable for our millions of retail customers by delivering an easy-to-use user experience that Coinbase is known for,” the announcement post read. Over the past seven days, crypto derivatives accounted for $137 billion in 24-hour trading volume over the past day according to CoinGecko. In the same period, spot trading volume across crypto exchanges accounted for $55 billion. This is not the first time a US-based crypto exchange has looked towards the derivatives market. In August, FTX.US, bought LedgerX, another derivatives trading platform regulated by the CFTC. Similarly, last month, Singapore-based Crypto.com announced the purchase of the North American Derivatives Exchange, revealing its entry into the US crypto derivatives market.

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The DOGE coin price experiences a sudden jump in buying pressure and aims to break above the long coming resistance trendline.  Dogecoin is an adaptation of the popular “doge” Internet meme and has an image of a Shiba Inu on its logo. The digital currency that is open source was invented by Billy Markus from Portland, Oregon, and Jackson Palmer from Sydney, Australia, and was developed from Litecoin in December 2013. Dogecoin is different from Bitcoin’s Proof-of-Work protocol in a variety of ways. One of these is that it uses Scrypt technology. It also has an average block time of one minute, and the total supply is unlimited. Let us move ahead to read about Dogecoin technical analysis. Past Performance of DOGE DOGE coin price shows a growth of more than 15% in the past three days from the descending support trendline. The price action forms a triple white soldier pattern teasing a post-breakout bull run. Currently, the price rests near the resistance trendline of the wedge pattern, and the breakout will trigger an excellent buying opportunity. DOGE/USD Daily Chart DOGE Technical Analysis The DOGE coin price action shows a reversal in the long-coming downtrend. Moreover, the price highly influential bearish trendline weakens over time, increasing the chances of a bullish breakout.  The crucial EMAs (50, 100, and 200) maintain a falling trend in the daily chart. These EMAs can act as dynamic resistance levels, and the breakout of each will generate an entry spot. The RSI indicator at 48% spikes higher from the oversold zone to touch the central mark in the daily chart. The 14-days SMA shows a trend reversal after the recent crossover.  The MACD indicator shows a bullish divergence in the last two dips at the support trendline. The MACD and signal lines give a bullish crossover slightly below the zero line.  In a nutshell, the DOGE price action and the technical indicators showcase a high possibility of a breakout-backed bullish rally. Therefore, safe traders can shortly find breakout entry to avoid the risk of reversal. Upcoming Trend The increasing buying pressure and the bullish price action increase the possibility of a trend reversal in the DOGE coin. The breakout of the falling wedge can reach $0.30 if the buying pressure sustains, resulting in an 80% price jump. The price action indicates resistance levels at $0.24 and $0.30 after the primary resistance at $0.20. The support levels are at $0.15 and $0.12 which can halt the reversal from the trendline.

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KlimaDAO, a cryptocurrency group focused on climate activism, is shaking up the carbon credit market by accumulating over 14 million on-chain carbon offsets. The decentralized autonomous organization now owns the majority of the 17 million BCTs and is spending $100 million on offsets. The project’s native KLIMA token is backed by at least 1 ton of Base Carbon Tonnes (BCT) credits by Toucan Protocol and the latest addition of the MCO2 tokens by Moss, which were first added to the treasury on Jan. 6. The value of the Klima token is determined by the valuation of the Klima treasury and is, therefore, dependent on the value of the BCT and the latest MCO2 token. In fact, the protocol’s rapid acquisition of carbon offsets has caught the attention of traditional carbon offset firms like Gold Standard, the Wall Street Journal reported. CEO Margaret Kim even criticized that the anonymous team behind the project poses transparency issues. “We are also concerned about the fact that the founders are anonymous, which runs contrary to the need for transparency in climate action generally and carbon markets more specifically,” said Margaret Kim. KlimaDao Responds to Its Carbon Credit Responding to a crypto media publication, the team clarified, “There are ways to provide assurances without being doxxed.” Being doxxed refers to revealing an anonymous individual’s true identity. They even argued that traditional firms like Gold Standard “may need more regulatory clarity into how a DAO works legally” to understand their potential for tremendous growth. In fact, anon founder Archimedes also addressed the issue of anonymity and trust on the Jan. 10 episode of the Planet of the Klimates: “Are we ever going to be at a point where we have to reveal who we are? At some point, maybe, Klima becomes so powerful that world governments demand to know who we are.” Klima DAO is a group of environmentalists, developers, and entrepreneurs that utilizes blockchain technology to accelerate the appreciation of carbon credits. The group launched the KLIMA token, a cryptocurrency whose value is linked to carbon credits on October 18.

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