Author: NBTC
In the virtual corridors of X (formerly known as Twitter), a formidable movement is gaining momentum – #ReduceCryptoTax. This is the voice of the Indian crypto community, a clarion call to the nation’s Finance Ministry. In this digital age, hashtags have transcended their role as mere metadata tags, morphing into powerful tools of advocacy and change. Through #ReduceCryptoTax, investors, traders, and crypto enthusiasts are uniting to bring a shift in India’s cryptocurrency taxation policy. This movement is not just a fleeting outcry but a reflection of a deep-rooted sentiment that resonates across India’s burgeoning crypto landscape. From the vivid streets…
Terra Luna Classic made a groundbreaking decision by overwhelmingly supporting and approving Proposal 12033, which imposes mandatory Know Your Customer (KYC) procedures for all L1 developers. This move aims to improve the security and integrity of the blockchain, eliminating previous vulnerabilities associated with the creation of anonymous code. The proposal, initiated by the SolidVote LUNC Validator, represents a collective commitment to tighten security measures in the blockchain ecosystem. One of the most important aspects of the proposal is to ensure compliance with KYC procedures for all Level 1 (L1) developers. Previously, the lack of KYC requirements allowed code to be…
BitMEX founder Arthur Hayes says he’s no longer short-term bearish on Bitcoin (BTC) now that the crypto king has convincingly proved him wrong. Earlier this year, Hayes says he bought some put options for Bitcoin at a strike price of $35,000 with the expectation of a short-term price correction. In a new interview on Crypto Banter, Hayes says that he’s expecting BTC to hit new all-time highs by the end of this year and is no longer anticipating any significant correction for the time being. “[I’m] definitely bullish for the rest of the year. I think Bitcoin is going to…
Bernstein notes that six out of the top ten revenue-generating protocols are DeFI applications. With real yields and regulatory clarity, global asset managers could consider a DeFi ETF, Bernstein said. The crypto market recovery is expected to be broad-based with decentralized finance (DeFi) leading the charge, broker Bernstein said in a research report Monday.“We expect a big bang DeFi recovery and the investor narrative to come back as the future of blockchain finance,” analysts Gautam Chhugani and Mahika Sapra wrote. Bernstein notes that six out of the top ten revenue-generating protocols are DeFI applications. These are Uniswap, Aave, Maker, GMX,…
Bitcoin saw an incredible month in February, adding over $18,000 to its value in a single month. This outperformance has now carried on into the month of March, which has seen the Bitcoin price cross the $65,000 mark for the first time since 2021. As BTC trades in the green, expectations remain that the performance will continue. Bitcoin Shows Strong Fundamentals In a new report shared with NewsBTC via email, the head of research at Matrixport, Markus Thielen, put forward that the Bitcoin price was headed for another all-time high this week. This report highlighted the BTC price performance over…
A crypto whale, or a large holder with a significant amount of cryptocurrency, just made a large purchase of 4,677 ETH, valued at roughly $11 million, according to data from Lookonchain. The interesting thing about this purchase is that it seems to reflect a bold bullish bet on the Ethereum price. This whale seems bullish on $ETH and bearish on $BTC.He borrowed 241 $WBTC($11M) from #Aave in the past 4 hours and exchanged for 4,677 $ETH($11M).https://t.co/2W5FyKDEDa pic.twitter.com/d8PxOoinPr — Lookonchain (@lookonchain) January 10, 2024 This whale appears to be bullish on ETH and bearish on BTC, according to Lookonchain. Surprisingly, the…
International Monetary Fund (IMF) chief Kristalina Georgieva sees crypto as an asset class, not money. She dismissed concerns of bitcoin potentially displacing the U.S. dollar as the world’s dominant currency, citing the size of the U.S. economy and the depth and sophistication of its capital markets as key factors. IMF Chief on Crypto and US Dollar Dominance The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, dismissed crypto as money and explained why she didn’t see bitcoin as a threat to the U.S. dollar’s dominance in an interview with Yahoo Finance Live last week. Georgieva said: Our view…
Validators of the XRPL EVM sidechain will be rewarded in XRP, according to a recent post by Ferran Prat Tió, co-founder and CEO of Peersyst. It is worth noting that the XRP Ledger uses a unique consensus mechanism called the “XRP Ledger Consensus Protocol.” This model differs in many ways from the more popular Proof-of-Stake and Proof-of-Work consensus mechanisms. One of the differences between the XRPL approach and the mechanisms of other networks is the absence of a reward system for validators. Validators do not receive any incentives from the network for their role. Instead, the network automatically burns all…
In the world of cryptocurrency, anticipation runs high as expert voices weigh in on the future of Bitcoin’s price. Tony Edward, a prominent figure in the crypto community and the host of the Thinking Crypto Podcast, recently shared insights that shed light on potential market movements. Notably, his perspective provides valuable guidance amidst the fluctuating landscape of digital assets. Analyst Anticipates Bitcoin Price Correction Tony Edward, renowned for his expertise in the crypto space, offered a cautious perspective on Bitcoin’s recent surge. Despite the excitement surrounding Bitcoin’s climb above $48,000 on February 11, Edward remains wary of potential bearish scenarios.…
Bitcoin price is trading above $60,000, putting it within striking distance of setting a new all-time high. This would be an unprecedented move for the top Cryptocurrency by market cap, which historically has only made a new price record only after each halving event. Could BTC set a new record in more ways than one: by reaching a new all-time high before the halving for the first time ever? Let’s take a look at the data. Why the Bitcoin halving is important The Bitcoin halving is one of the most anticipated and impactful events for the Cryptocurrency. It reduces the…