[ad_1] The release of India’s Union Budget for 2024-25 has left a significant portion of the country’s population pondering its implications, particularly the cryptocurrency community, which finds itself at a standstill. On July 23, the budget brought up by Finance Minister Nirmala Sitharaman left the digital currency industry unaddressed even after prior speculations and anticipation of potential regulatory clarifications or supportive measures. This omission comes at a time when the global digital currency industry is seeing various levels of adoption and regulation, highlighting a stark contrast in India’s approach to handling these digital assets. 2022 Tax Status Quo Continues: Community…
Author: dfrancis36
[ad_1] ARB, the native token of Arbitrum, the Ethereum layer-2 solution, is down 68% from January 2024 highs. However, there is good news: While ARB holders “suffer” in the face of unrelenting bears, positive on-chain developments reveal a platform that is not only the largest by total value locked (TVL) but also brimming with potential. Over 48% Of Ethereum Bridged Assets End Up In Arbitrum Taking to X, one analyst notes a surge in user activity on Arbitrum and that the platform leads across multiple key performance indicators (KPIs). Of importance, the analyst observed that though there are other Ethereum…
[ad_1] Polymarket bookmakers report that the chances of Former President Donald Trump declaring a US Bitcoin strategic reserve have dropped. At first, speculations abound that Trump would reveal a daring strategy to include Bitcoin into the US strategic reserves during the Bitcoin 2024 conference this week. The betting odds presently, however, point just to a 26% possibility of such a declaration by July 28. Reflecting a major change in market mood, this stands a sharp contrast to the 76% likelihood originally attributed to the concept. There are other reasons for the abrupt loss of trust, including the current political events.…
[ad_1] One of the most well-known bitcoin exchanges worldwide, Gate.io, has decided to terminate all services available in Japan. Effective July 22, this retreat signals a dramatic change in the operational scene of the exchange. In an announcement Monday, the exchange revealed a compliance programme meant to help its Japanese clients migrate their assets to platforms in accordance with local laws. The company said it aims to follow financial rules wherever it conducts business. Gate.io added that it regrets to notify its customers that it will be ending its services for Japan. Image: ビットタイムズ Gate.io: Navigating Regulatory Waters Gate.io’s leaving…
[ad_1] One Solana (SOL)-based meme token could be facing a correction after hitting new all-time highs over the weekend, according to the crypto analytics firm Santiment. Santiment notes that Popcat (POPCAT) drew attention from mainstream traders after skyrocketing from trading at around $0.469 on July 11th to a new all-time high of $0.987 on Saturday, an increase of more than 110%. Explains the analytics firm, “Historically, this level of sudden interest as a result of a price surge has a high chance of leading to a correction, where better entry points are likely.” Source: Santiment/X The correction may already have…
[ad_1] The market for cryptocurrencies is humming with hope because the recent climb of Bitcoin and the launch of Ethereum ETFs today is seen to create a positive wave. In this bustling environment, Cosmos (ATOM) is one cryptocurrency that shows great potential for a big break-through. Related Reading Although ATOM has stayed somewhat steady, with a little rise of 1.23% over the previous week and a drop of 4% over the last 30 days, experts feel it is about ready for a significant climb. ATOM’s market position is notable at its current value of $6.23, with a market value of…
[ad_1] Recent price action indicates that Shiba Inu (SHIB) is currently underperforming compared to other major cryptocurrencies. Over the past seven days, SHIB has experienced a significant decline of 7.26%, and in just the last 24 hours, the token has fallen by an additional 2.58%. This downturn is particularly noteworthy when compared with the performance of Dogecoin (DOGE), its meme coin counterpart. Unlike SHIB, Dogecoin has enjoyed a robust 12% increase over the same seven-day time frame. One key factor contributing to SHIB’s recent struggles is a noticeable decline in several crucial Shibarium metrics over the past 24 hours. Shibarium,…
[ad_1] Bitcoin started the new week in an uptrend, signaling a return of bullish sentiment among crypto investors. This bullish sentiment has continued to propel the price forward with $70,000 remaining the major target from here. According to one analyst, this recovery signals an entrance into the final wave, which is Wave 5, that could send the BTC price back toward its ATH price. Analyst Says Bitcoin Price Could Hit $72,000 In a TradingView post, crypto analyst Arthur Signals shared an interesting analysis of the Bitcoin price, saying that the cryptocurrency has entered the final Wave 5. The analysis goes…
[ad_1] On Monday, the US Securities and Exchange Commission (SEC) approved nine spot Ethereum Exchange Traded Funds (ETFs). Coinbase, the leading US cryptocurrency exchange, responded with enthusiasm on X. It noted its integral role as a custodian for the vast majority of these new financial products. According to their statement, Coinbase is “proud to be a trusted partner and custodian powering 10 of 11 spot BTC ETFs and 8 of the 9 newly approved ETH ETFs.” Coinbase Is A Single-Point Of Failure The statement from Coinbase also highlights the transformative potential of spot ETFs, claiming they will “help catalyze further…
[ad_1] After a decade-long wait, creditors of the now-defunct Mt. Gox Bitcoin exchange have finally begun receiving their owed Bitcoin (BTC) and Bitcoin cash (BCH) via the Kraken and Bitstamp crypto exchanges. However, this had a notable impact on the cryptocurrency market, contributing to a nearly 4% drop in the price of Bitcoin after users confirmed the deposits to their wallets from the exchanges. Mt. Gox Distributes Millions To Bitstamp And Kraken On an early Tuesday morning, wallet addresses linked to Mt. Gox initiated the transfer of $2.85 billion worth of BTC. According to on-chain data from blockchain analytics platform…