Daily Crypto News Dec 1, 2021: Top 5 daily crypto news

Wondering what’s in for the daily crypto news today? From Polkadex moving to substrate to Avalanche raising $18.5 million in seed funding a lot happened in a day. Here is a quick daily crypto round-up. 

Quick Crypto Roundup! 

Daily Crypto News  Dec 1, 2021

Solv raises more than $4 million in series A funding bringing Voucher Finance to DeFi

Solv protocol, DeFi protocol helping users to trade and mint NFTs representing financial ownerships called vouchers,  recently made an announcement of raising $4 million in Series A funding from leading investors such as Blockchain Capital, Sfermion, and Gumi Cryptos capital. These funds will play a pioneering role to kickstart ‘Voucher finance’ for DeFi. Solv protocol has received support from foundations like CMT Digital, CMSholdings, Shima Capital, Axia8 Ventures, etc. Read more about Solv protocol in detail. 

Source: Dailyhodl

Polkadex finalizes Mainnet launch and moves PDEX token substrate Blockchain frim ERC20

The P2P decentralized trading protocol Polkadex has recently announced its shift from ERC-20 to Substrate. This native token shift is a part of a series of processes undertaken by the ecosystem for the final emigration of the entire Polkadex environment to the substrate blockchain. It has planned to finally exit the Ethereum ecosystem and work within the ambit of its native blockchain. The native PDEX of the Polkadex ecosystem was listed on Gate.io.

Read about the shift of the Polkadex environment from Ethereum to substrate in detail. 

Source: CoinMarketCap

Grayscale finally launches Solana trust product 

The crypto asset management firm, Grayscale has launched a Solana trust product for accredited investors through private placement. This product will expose SOL, the native token of the Solana blockchain to the investors. This launch took place after Grayscale’s opponent Osprey Funds launched their Solana trust product. 

Solana has gained quite a popularity as Ethereum’s rival and the price of its native token has seen exponential growth from $50 to $200. The Solana trust by Grayscale firm is the sixteenth product offerings by the company. Some of the other cryptocurrencies for which grayscale offers services are Bitcoin (BTC), Ethereum (ETH), decentraland (MANA), chainlink (LINK), and filecoin (FILE). 

Read more about Grayscale’s Solana trust in detail. 

Source: The Block

Avalanche ecosystem accelerator raises $18.5M in seed funding 

AVAX, the native token of the avalanche has been one of the top crypto performers of the year. The PoS chain has been supported by big names like Polychain Capital and Three Arrows Capital. The avalanche accelerator raised $18.5 million in seed investments to bootstrap the next set of avalanche projects under the light of increased demand for the PoS (proof-of-stake) ecosystem. 

Avalanche foundation was the one to lead the investment round with additional participation seen from HashKey, Bixin Ventures, Shima Capital, and GBV Capital. Other members of the avalanche community were also a part of the seed round. These funds will be utilized in funding the early-stage projects being built by the avalanche network to help increase liquidity for the decentralized finance sector. 

Read more about avalanche’s seed funding in detail. 

Source: Cointelegraph 

Crypto Market Trend December 1, 2021 

Here is a quick summary of the top crypto gainers and losers for the day. 

Top 3 Crypto Gainers 

*Prices are latest by 12:40 PM December 01, 2021.*

Top 3 Crypto Losers 

*Prices are latest by 12:40 PM December 01, 2021.*