To me - option 1 in white looks a bit nicer when comparing side by side, but as a favicon the blue is much better.
The color is more noticeable, and the square shape takes advantage of the space you are given. Favicons are also what gets used as a bookmark. Save dansdeals as a bookmark on your on your pc and phone (without the text) to get an idea how it will show up. The best favicons are instantly noticeable among a sea of open tabs or bookmarks.