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• ADA Exceeds Transaction Volume in Enters Basho Phase

• Walmart (NYSE) Preparing Tokens and NFTs for 3D Metaverse

• The EIP1559 Deployment of Polygon (MATIC-) Will Make Polygon (MATIC-) Deflationary

• A Weekly Burn of 328 Million Hits 134 Million in Just 24 Hours

• The Prefered Crypto to Pays is at Risk of Losing Dominance

ADA surpasses Ethereum in Transaction Volume, Cardano enters Basho Phase

Cardano has been moving forward after an uneven start to this year. Cardano has experienced a more impressive 9% gain in just 24 hours. This has pushed the price to as high as $1.52. Cardano has regained its position as 5th most valuable crypto according to market capital.

Cardano’s 24 hour price chart (ADA). Source: Tradingview

Cardano’s price jumped, so did its trading volume. Messari reports that Cardano was able to transact $7.02 Billion in 24 hours, and Ethereum $5.41 Billion.

Cardano’s third phase, known as the Basho Era in its roadmap is the catalyst for this boost. The Cardano network will see an increase in performance and scaleability during this phase.

Basho’s Scalability section has laid out plans to allow Cardano, through Hydra the second-layer solution Hydra, to achieve millions of transactions per seconds. Cardano can communicate with other Blockchains via the interoperability aspect.

Flipsider:

• Cardano smart contracts take a while to deploy on Cardano. Users don’t know how long it would take to get the Basho phase in effect

What You Need to Care About

The Basho Phase looks to put an end to Cardano’s widely criticized slow start and could set the project up to challenge the best blockchain network.

Walmart Preparing Tokens and NFTs for 3D Metaverse

Since Facebook’s big metaverse reveal, droves of mega-companies have rushed into the virtual world, the latest big-box retailer, Walmart. As of December 30, 20,21, Walmart may have filed up to 20 trademark applications.

Walmart will now have its own NFTs and cryptocurrency collection thanks to the trademarks. Separately, Walmart filed applications for virtual goods that it could make and sell in the metaverse.

Walmart stated that it has filed the documents to confirm its commitment to exploring how emerging technologies could shape future shopping experiences. Josh Gerben is a trademark attorney who spoke about the filings.

“There’s a lot of planning going on behind the scenes about how they’re going to address cryptocurrency, how they’re going to address the metaverse and the virtual world.”

You will find some of these trademarks, here.

Flipsider:

• It is a $8 trillion industry. Morgan Stanley (NYSE: ) has stated that customers could pose a challenge to companies if they buy into it.

What You Need to Care About

Walmart joins Facebook as part of the metaverse, which aims to transform the future. Nike (NYSE:), Ralph Lauren(NYSE:), Disney and many others who are creating their own metaverse.

The EIP1559 Deployment of Polygon (MATIC), Sets Polygon (MATIC), to Be Deflationary

Polygon, a leading Ethereum layer-2 scale solution has now announced that EIP 1559 (also known as London Hardfork) will be available on the mainnet starting January 18, at 8 AM (UTC).

Polygon announced its fee-burning scheme on December 14th. With the upcoming upgrade to the mainnet, the initial-price auction will be eliminated as the basis for the calculation of the main gas fees and token burning will be introduced.

By introducing burning, MATIC would become a deflationary asset – reducing its supply by burning/token destruction. According to the Polygon team, MATIC’s fixed supply of 10 million would decrease by 0.2% or 27,000,000 MATIC per year.

Flipsider:

• While EIP-1559 would benefit all of Polygon’s stakeholders, it would reduce the amount of MATIC available to existing and new investors.

What You Need to Care About

EIP-1159 upgrades will make it possible for dApp users to receive lower transactions fees.

In Just 24 Hours, More Than 134 Million Shiba Inu Have Been Burned. The Weekly Burn Hit 328,000,000

Shib Inu communities have been increasing their use of SHIB tokens to burn, regularly destroying thousands of them. In the past 24 hours, there have been 17 transactions and 134,519 822 $SHIB tokens were burned.

According to Shiba Inu’s burn tracker Shibburn over the seven-day period, total of 32,470,000.419 SHIB Tokens were destroyed in 57 transactions.

Steven Cooper (owner of Bigger Entertainment) has already burned more than 1.01 billion SHIB across multiple transactions. He has also announced his plans to continue burning 1 billion SHIB tokens, but in a single transaction.

Flipsider:

• WhaleStats estimates that top 1000 ETH whales possess 51,797.443,284,681 SHIB at their addresses. This amounts to $1618,039 118.

What You Need to Care About

Shiba Inu’s destruction of tokens creates a deflationary environment, where scarcity may potentially lead to an increase in the price for SHIB.

Bitcoin Loses Dominance As The Prefered Crypto For Payments

Bitcoin, the popular crypto currency and the original cryptocurrency, quickly became the favorite asset for crypto payments. Recent reports indicate that businesses and customers are switching to digital tokens as a payment option.

According to Bitpay, one of the world’s biggest crypto payment processors, merchants that use Bitcoin dropped from 92% in 2020 to 65% in 2021. Ether represented 15% of transactions, stablecoins 13% and Shiba Inu 3%.

The report suggests that the growing number of businesses using stablecoins for cross-border transactions led to the decline in Bitcoin’s dominance.

Flipsider:

• It is clear that Bitcoin has become a more popular option than people are able to spend it.

What You Need to Care About

Bitcoin’s decline comes amidst more merchants broadening their list of accepted cryptos.

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