Top Cryptocurrency News Today: The biggest moves in NFTs, bitcoin, crypto rules and more

Bitcoin rose 1.95 percent to trade at Rs 34,59,163 while Ethereum rose 2.76 percent to Rs 2,64,569.9. Cardano surged 9.4 percent to Rs 104.48 and Avalanche rose 4.94 percent to Rs 7,452.81. Polkadot rose 4.06 percent to Rs 2,129.46 and Litecoin increased 6.05 percent to Rs 11,101.35 over the last 24 hours. Tether dipped 0.63 percent to Rs 79.23 Read more here.

Bank of America gave perhaps the highest praise a major U.S. bank could bestow on a cryptocurrency: It compared it to the world's largest credit card network."Solana could become the Visa of the digital asset ecosystem,” Bank of America global crypto and digital asset strategist Alkesh Shah wrote in a research note published Tuesday. He cited the more than 400 decentralized applications on Solana's network, which host everything from peer-to-peer exchanges to NFT marketplaces. Read more here.

El Salvador President Nayib Bukele has cost the country money by betting on Bitcoin, according to calculations made by Bloomberg. Relying solely on Bukele’s frequent Twitter announcements that he bought Bitcoin, the Salvadoran president has bought 1,391 Bitcoin. Those purchases—according to Bloomberg—cost approximately $71 million based on an average price of $51,056 per Bitcoin. Assuming the government is still holding all of this Bitcoin, the total sum acquired is now worth roughly $59 million by today’s prices. Of course, these losses are merely on paper if Bukele hasn't sold any of the Bitcoin. Read more here.

Beginning today, The Gap will gradually roll out a series of NFTs that run on the Tezos blockchain. Each hoodie-themed Gap Threads NFT was created in collaboration with Tezos-centric production studio InterPop and features the artwork of Brandon Sines, creator of the character Frank Ape.The Gap’s Common rarity NFTs will be available starting tomorrow for 2 of Tezos’ native XTZ coin (under $9), with Rare-level NFTs going on sale on January 15 for 6 XTZ ($26). Epic-level NFTs will follow on January 19 for 100 XTZ ($436) Read more here.