Author: NBTC

Investors cannot miss the similarities between Ethereum’s current price movement to Bitcoin after the approval of its ETFs. Crypto commentator Croissant noted that Bitcoin experienced an immediate drop following the ETF approval, only to witness a price surge after a couple of months down the line. The observation comes a week after the US Securities and Exchange Commission (SEC) approved the trading of nine Ethereum ETFs. After trading commenced on July 23, Grayscale’s ETHE fund is weighing on the overall market. Contrarily, the asset manager’s ETH fund is performing in line with the rest of the players. As Ethereum ETFs…

According to data shared by cryptocurrency tracker Whale Alert, which monitors large crypto transfers within the blockchain space and shares their details on social media, over the last 24 hours, an equivalent of $111.8 million in XRP coin was withdrawn from two major exchanges. Among those transfers were millions of XRP, which were sent to Bitso and Bitstamp. 184.2 million XRP getting shoveled Whale Alert detected eight transfers moving hefty amounts of XRP. The smallest of them was worth 19,000,000 XRP (the equivalent of $10,961,925). The two largest ones carried 26,000,000 and 26,287,782 XRP. The other carried between 21 million…

Here’s what you need to know about reporting crypto on your 2024 taxes: The IRS treats crypto as property, not currency You must report all crypto transactions, even small ones Taxable events include selling, trading, and using crypto to buy goods Use Form 8949 to report crypto gains/losses Report crypto income on Schedule 1 or Schedule C Key steps for crypto tax reporting: Gather all transaction records Calculate gains/losses for each transaction Fill out Form 8949 and Schedule D Report any crypto income Answer the digital asset question on Form 1040 Common pitfalls to avoid: Not reporting all transactions Incorrect…

The Financial Services Commission (FSC) of South Korea has announced an updated regulatory framework following the implementation of the groundbreaking Virtual Asset User Protection Act. The official announcement on August 1 revealed that major South Korean cryptocurrency exchanges like Upbit, Bithumb, and Coinone will now be required to pay a supervisory fee based on their operating revenue. This “supervision contribution,” essentially a quasi-tax, is typically levied on financial institutions overseen by the Financial Supervisory Service (FSS). Businesses with operating revenues exceeding KRW 3 billion generally fall under this tax. Under the Virtual Asset User Protection Act, crypto exchanges will now…

Bitcoin’s price is experiencing a downtrend at the moment, as it has failed to continue its rally above $70K. This begs the question if the bull market has come to a halt or if that’s just a temporary correction. Technical Analysis By TradingRage The Daily Chart As the daily chart demonstrates, Bitcoin’s price has failed to rise above the $75K resistance zone multiple times and is currently declining. The $65K support has also been lost, but the key $60K level currently holds the price. The 200-day moving average is also located around $57K and could support the market if $60K…

Solana-based meme cryptocurrency dogwifhat (WIF) has surged by 11% over the past 24 hours, according to CoinGecko data. Notably, the WIF meme cryptocurrency has outperformed every other cryptocurrency in the top 100. The multi-billion dollar meme coin is up more than 60% from the lows that were recorded just a few days ago. Mister Crypto, a pseudonymous cryptocurrency analyst, has noted that WIF is in the process of a breakout. “A new leg to the upside is getting started,” the analyst added. At the same time, it is worth noting that WIF is still down as much as 49% from…

July 31 (Reuters) – When former U.S. president Donald Trump promised a bitcoin conference on Saturday that if reelected he would fire Securities and Exchange Commission Chair Gary Gensler, a crypto skeptic, the crowd roared with delight. “Wow, I didn’t know he was that unpopular,” the Republican presidential nominee shouted over the cheers. Trump, who once derided cryptocurrencies as a “scam,” is courting the industry and winning big checks from donors hoping he will swiftly end Gensler’s crypto crackdown. Under Gensler, a Democrat appointed by President Biden, the SEC has brought dozens of crypto enforcement actions, including against major exchanges…

Mt. Gox has started repaying creditors in BTC and BCH, requiring validation of registered accounts and acceptance of agreement terms. Repayment timelines vary by exchange, with Kraken taking up to 90 days, Bitstamp 60 days, BitGo 20 days, and SBI VC Trade and Bitbank 14 days. Security concerns have emerged with reports of failed login attempts; users with 2FA are more confident in the security of their assets. Mt. Gox has begun the process of repaying creditors in Bitcoin (BTC) and Bitcoin Cash (BCH). However, the repayment process comes with several stringent conditions. Creditors must meet some conditions to receive…

Robert Kiyosaki, who is known for his active investments in Bitcoin and other highly speculative assets, as well as for his book “Rich Dad Poor Dad”, has published a lengthy tweet to talk about Bitcoin and other fast track investments. “Rich Dad Poor Dad” author talks about his business of educating beginning entrepreneurs and teaching them how to improve their “financial IQ” as he calls it. He talks about “fast track investments,” including Bitcoin and a new asset investing in which is going to be very profitable in the near future as it is useful for the environment and is…

Ethereum price corrected gains and traded below the $3,300 level. ETH is consolidating and facing hurdles near the $3,300 resistance zone. Ethereum started a downside correction from the $3,400 resistance. The price is trading below $3,330 and the 100-hourly Simple Moving Average. There was a break below a key bullish trend line with support at $3,295 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start another increase if it clears the $3,330 resistance zone. Ethereum Price Extends Losses Below $3,300 Ethereum price failed to clear the $3,400 resistance zone and started a downside correction, like…