Algorand Hits High, El Salvador Partners with China, Tough Going for Crypto Funds

It’s time to welcome in a new year — but which cryptocurrencies have begun 2022 with a bang, and which ones are hoping to buck their current trend in the months to come?

Leading the way among the winners is YFI, which increased by 24.9% over the last week. It’s followed by ROSE (up 20.8%) — which reached all-time highs — ATOM (up 18.9%), and SUSHI (up 18.7%).

But not all coins fared quite so well. OHM fell 25.9%, HOT by 16.6%, BCHA by 13.9%, and SAND by 12.6%.

How did the big names do? For the most part, not so great — SOL fell by 8.8%, BTC by 6.7%, and ETH by 6.9%. However, this could be a window of opportunity for investors in 2022 considering incorporating crypto or even NFTs into their investment plans for the new year.

Algorand might not be on the list of big gainers above, but it was another coin that ended the year on a high. This is partly down to a new $3 million liquidity incentive program associated with AlgoFi, its new decentralized lending protocol, which will give out rewards to users who supply, borrow, or stake on Algofi as an incentive to use the platform.

We heard plenty about El Salvador’s bitcoin-centric plans last year, from making bitcoin legal tender to intentions of creating an entire bitcoin city. But its latest dream appears to be a collaboration that will see the country partner with China to build a new national stadium.

The founder of the Bored Ape Yacht Club (BAYC) had a shock when none other than rap superstar Eminem joined the club on the last day of 2021 by purchasing an NFT in the collection — for almost $462,000. At the time of writing, Eminem still sports the image as his profile picture on Twitter, which features a military hat and hip-hop clothing.

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