Author: NBTC

While some policy officials hold out hope for a reduction in the crypto tax, most experts don’t expect any changes. The industry’s primary desire is to see the 1% tax deducted at source reduced to 0.01%. India is unlikely to change its controversial tax-deducted-at-source (TDS) policy on crypto transactions when Finance Minister Nirmala Sitharaman reveals her full budget for 2024-2025 on Tuesday, experts said. The budget is the first since Prime Minister Narendra Modi was elected for a third straight term. What’s different this time is Modi’s Bharatiya Janata Party (BJP) unexpectedly failed to secure a majority, needing to form…

US spot Bitcoin ETFs registered slight outflows on Wednesday. The German Government transferred another 3,000 BTC, valued at $174 million, on Thursday. On-chain data shows positive exchange netflow, and the Taker Buy Sell Ratio declines. Network Realized Profit/Loss (NPL) data shows an uptick on Wednesday. Bitcoin (BTC) faced rejection at the daily resistance level of $63,956 on Monday, resulting in a 4.2% decline over the next two days. BTC’s price extends its downward move and falls below $58,000 on Thursday, adding more than 4% losses in the day. On-chain data indicates whales are taking profits, exchange supplies are increasing, US…

Spot Ethereum exchange-traded funds (ETFs) debuted to robust investor interest within the first 90 minutes of trading, amassing a total volume of $361 million across the nine newly launched ETFs. Bloomberg senior ETF analyst Eric Balchunas shared the initial data on social media and noted that the impressive start ranks these ETFs among the top 1% in overall ETF volume, comparable to well-established funds such as TLT and EEM. Leading the pack, Grayscale’s ETHE reported the highest volume at $147.8 million, followed by BlackRock’s ETHA with $71.4 million and Bitwise’s ETHW at $50.4 million. Fidelity’s FETH also saw significant activity…

Analysts have commented on the U.S. dollar trend following President Joe Biden’s decision not to seek re-election, noting a slight decline in the dollar against a basket of currencies. Bank of America’s head of global foreign exchange research mentioned: “There is a growing consensus that the dollar will be stronger if Trump wins due to tax cuts and tariffs. However, it’s more complicated as Trump doesn’t want a strong dollar.” Analysts Weigh in on USD Trend Amid Political Shift The U.S. dollar experienced a slight decline against a basket of currencies and a notable drop against the yen on Monday,…

Analytics account on the popular X social media platform @lookonchain has published data which shows a significant increase noticed about Tron over the second largest blockchain Ethereum. Tron beats Ethereum in transaction count This large rise of Tron shows that its utility continues to expand fast. Meanwhile, Ethereum has been finally accepted by Wall Street as spot Ethereum ETFs have finally been approved and begun trading on stock exchanges. Tron has surpassed Ethereum by the total transaction number – 8.1 billion on Tron versus 2.45 billion on Ethereum. This is an impressive increase of more than 230.6%. The total number…

US President Joe Biden resigned from the upcoming November 2024 Presidential Election on July 21 and immediately endorsed Vice President Kamala Harris’s candidature. Biden said: “I have decided not to accept the nomination and to focus all my energies on my duties as President for the remainder of my term. My very first decision as the party nominee in 2020 was to pick Kamala Harris as my Vice President. And it’s been the best decision I’ve made. Today I want to offer my full support and endorsement for Kamala to be the nominee of our party this year.” Biden’s move…

OKX, one of the leading cryptocurrency exchanges, started the day with the altcoin announcement. At this point, OKX announced that it had listed altcoins named DEGEN and SLERF. “OKX will soon launch DEGEN and SLERF. Deposit time for DEGEN and SLERF: 23 July 14:00 (UTC+8) SLERF/USDT trading opening time: 23 July 16:00 (UTC+8) DEGEN/USDT trade opening time: 23 July 17:00 (UTC+8) DEGEN and SLERF open withdrawal time: 24 July 18:00 (UTC+8) DEGEN is a reward token for Farcaster users that uses a unique tip subsidy mechanism to incentivize the community. It also provides support for the Degen chain, one of…

In an epic development, Whale Alert has reported that a dormant Bitcoin address containing 119 BTC, worth $6.99 million, has been activated after 12.4 years. This address, which was worth just $599 USD in 2012, has seen a staggering 1,166,666% gain. Such resurgences can have bearish implications for the market. When long-dormant addresses are reactivated, it often indicates that holders are preparing to liquidate their assets, potentially flooding the market with significant amounts of Bitcoin. This can lead to increased selling pressure, driving prices down. The market’s reaction to such events is typically cautious, as traders prepare for potential sell-offs.…

On July 23, Samara Cohen, BlackRock’s Chief Investment Officer of ETF and Index Investments, joined CNBC’s “Squawk on the Street” to talk about the launch of spot Ether ETFs and the potential they hold. The discussion began with the host, Bob Pisani, acknowledging the much-anticipated launch of Ether ETFs. Cohen confirmed the launch, noting that the ETFs were already actively trading both in the pre-market and post-open sessions. She emphasized that these ETFs are indeed tracking Ether, trading with tight premium discounts, tight spreads, and receiving broad market maker support. This marks a significant step in integrating cryptocurrencies into the…

Shibarium is setting a different growth course for itself as it is eyeing a very important milestone ahead. At the time of writing, Shibarium boasts a total block of 5,929,347, with just a few more blocks remaining to hit the 6,000,000 milestone. Shibarium’s launch, rise and fall When Shibarium made its debut in August last year, many did not believe it would record as much success as it has managed to in recent times. The Ethereum layer-2 network first suffered a major technical glitch that forced the halting of transactions. After this, much effort was expended to scale the chain.…