Author: NBTC
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Many misunderstand crypto, thinking its anonymity hides them from the IRS. In reality, crypto income is taxable. Here’s a guide on how to pay in 2024. Table of Contents Understand taxable events Calculating gains and losses Federal vs. local taxation of cryptocurrencies Importance of reporting and keeping detailed records Crypto income is taxable; evading taxes can lead to serious trouble A lot of people still have misconceptions about the way cryptocurrency works. They’ve heard that cryptos provide anonymity, which…
ZkSync ($ZK) has emerged as the most searched cryptocurrency over the past week on Crypto Rank, despite a recent decline in its price, according to Phoenix, crypto media outlet. This surge in search interest highlights the growing curiosity and enthusiasm around ZkSync’s technological capabilities. Particularly, it has Layer 2 scaling solution designed to enhance Ethereum’s transaction speed and lower fees. TOP COIN SEARCHES IN THE LAST 7D ON #CRYPTORANK$ZK $STRK $IO $ZRO $DOGS $AEVO $W $ATH $SAGA $MANTA pic.twitter.com/fsuCYXCthz — PHOENIX – Crypto News & Analytics (@pnxgrp) August 17, 2024 Starknet Follows ZkSync in DeFi Search Popularity Following ZkSync, the…
Hamster Kombat, the game everyone can not stop talking about, has quite a dark, problematic side. The Telegram game is trending on X (formerly Twitter) for all the wrong reasons. The sentiment on X shows that Hamster Kombat players were played. One player on X cries, “Thanks, Hamster Kombat, for wasting my time.” So, what went wrong? Remember that “Cheating is Bad” card Hamster Kombat introduced? Well, that has scored many players out for being eligible for the airdrop scheduled for September 26th. Some players argue that they have been played from the word go. One player shares his shock…
Mastercard and Safaricom have partnered to improve payment acceptance and cross-border remittances in Kenya. The partnership will benefit over 636,000 merchants using M-Pesa and enable them to serve customers globally. This collaboration will provide faster and more reliable payment solutions for Kenyan businesses and their customers. Streamlining Cross-Border Transactions The multinational payment card services corporation, Mastercard has partnered with Safaricom to accelerate the adoption of payment acceptance and cross-border remittance services in Kenya. The partnership is expected to benefit over 636,000 merchants using Safaricom’s mobile money service Mpesa. By leveraging M-PESA’s extensive merchant network and Mastercard’s global payment infrastructure, the…
Bitcoin’s price has been consolidating over the past couple of weeks following a recovery from the $56K support level. This behavior has left investors wondering whether a new record high will be witnessed in the short term. Technical Analysis By TradingRage The Daily Chart On the daily timeframe, the price has been moving rangebound between the $64K and $68K levels. The market has failed to break above the $68K resistance twice and is again testing the $64K support zone. If the support level gets broken, the 200-day moving average, located around $61K, would be the next target for the bears.…
NFT Evening analysts say 96% of 5,000 NFT collections are dead in 2024. Table of Contents End of an Era The Rise and Fall of OpenSea What will happen to the NFT market? The report reveals the state of the non-fungible token market and its problems in 2024. According to experts, 96% of more than 5,000 existing NFT collections are “dead.” This means that they have zero trading volume, no sales for more than seven days, and no activity on the X social network. Source: NFT Evening Analysts note that 4 out of 10 NFT owners currently need to make…
On the 19th of this month, the crypto market went through a noteworthy shift with Bitcoin and Ethereum ETFs experiencing significant outflows. As per Lookonchain, a popular on-chain analytics company, the cumulative outflow from Bitcoin ETFs reached 558 $BTC while the Ethereum ETFs saw 4,605 $ETH in outflows. The analytics platform discussed the current scenario of the ETF market on its social media account on X. Sept 19 Update:10 #Bitcoin ETFsNetFlow: -558 $BTC(-$35.39M)🔴#ARK21Shares outflows 725 $BTC($46.01M) and currently holds 44,982 $BTC($2.85B).9 #Ethereum ETFsNetFlow: -4,605 $ETH(-$11.41M)🔴#Grayscale(ETHE) outflows 7,718 $ETH($19.13M) and currently holds 1,724,293… pic.twitter.com/yItTqqMzac — Lookonchain (@lookonchain) September 19, 2024 Bitcoin…
Optimism reverted to permissioned fraud proofs due to vulnerabilities found in audits. A hard fork named “Granite” is scheduled for September 10 to update the Optimism network. Optimism has reverted its network to a permissioned state after community-driven audits identified several bugs in its recently launched permissionless fraud proof system, including two high-severity issues. The Optimism Foundation announced the rollback on X, stating that the move was made “out of an abundance of caution” to avoid potential instability while the vulnerabilities are patched. In March, Optimism commenced trials for its fault proof system on Ethereum’s Sepolia test network to boost…
Crypto.com has secured full approval from the Central Bank of Bahrain to provide payment service provider (PSP) services. This approval was granted to its subsidiary, FORIS GFS BH B.S.C. CLOSED, registered in Bahrain. This marks another regulatory achievement for Crypto.com in the region. The PSP licence enables Crypto.com to expand its services, offering e-money and fiat-based payment solutions. The company plans to introduce its prepaid cards in the region as part of this expansion. Bahrain is recognized as a centre for digital asset regulation within the Gulf Cooperation Council. It was among the first in the region to issue crypto-asset…
Giovanni Santostasi’s Bitcoin Power Law model suggests Bitcoin’s price will not fall below $30,000 again, indicating a floor for future valuations. The model shows Bitcoin’s price trajectory will continue to rise, with its current ‘fair price’ at $86,339 and potential ceiling at $332,543. As depicted in the charts from Bitbo, the model uses linear regression to establish support and resistance bands, which have historically contained Bitcoin’s price movements. The support band, derived from past price data, suggests a lower boundary that Bitcoin’s price should not breach, while the resistance band indicates an upper boundary. The model predicts that Bitcoin should…