With the exception of Solana and Polkadot, the other eight of the top 10 digital coins traded with a positive bias during early trading on Monday. Meanwhile, Cardano has expanded by more than 12%, making it the fifth largest token by market capitalization.
The global cryptocurrency market cap reached $2.07 trillion, almost unchanged from the day before. However, the total crypto market size increased by 5% to $64.30 billion.
Investors looking for clues about the direction of Bitcoin may want to know what the options market is showing. The world’s largest cryptocurrency rebounded last week after dropping below $40,000.
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The government can consider the following budget, which imposes TDS/TCS on buying and selling cryptocurrencies that exceed certain thresholds, and these transactions are intended to inform the income tax authorities, Nangia Andersen LLP Tax Aravind. Srivatsan said that you have to enter it within the scope of a particular transaction.
He also said that income from the sale of cryptocurrency should be subject to a high tax rate of 30%, in addition to winnings from sweepstakes, game offers, puzzles, and more.
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On September 12, 2021, Alonso’s promotion to Cardano was brought up. The Alonzo upgrade brings smart contract capabilities to the Cardano network. This simply means that Cardano can see a stream of Dapps on the network, WazirX Trade Desk said.
He added that in anticipation of the upgrade, Cardano’s ADA has reached a record high of 3.12 USDT. However, Dapp has not been released, and ADA’s price action has fallen by more than 60% in four months.
However, Cardano could be reversed as Sundaeswap, a decentralized exchange with a large number of supporters, plans to launch its mainnet on January 3 (January 20).
“With the launch of Dex, people can see the strength of Cardano and prices can go up significantly. In short, some volatility should be expected,” Minister X added.
According to BitPay Inc, one of the world’s largest crypto payment processors, consumers and businesses use digital tokens other than Bitcoin to make purchases.
For more than a year, cryptomania has been enthusiastic. Cryptocurrencies like Bitcoin and Ethereum are on the rise in value.
Crypto-based assets such as NFTs began. Twitter founder Jack Dorsey recently renamed one of his companies to Block in honor of Blockchain, a distributed ledger system that powers cryptocurrencies. Melania Trump auctioned off her NFT.
But for some, the crypto epidemic is too much and too fast. Skeptics argue that cryptocurrencies and related assets such as NFTs are digital Ponzi schemes, with prices artificially rising far beyond their true value.
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After hitting a double top at $69,000 on November 10, 2021, Bitcoin started to face selling, but it made a bearish breakout from the channel and is now below the support area ($42,712-$39,811). Because it is being traded, there has been a big sale. downtrend line. We are seeing price weakness to not give a valid breakout of this downtrend line.