Author: NBTC

Indonesia’s Ministry of Finance said the total tax revenue from crypto in 2023 was $31.7 million (Indonesian Rupiah 467.27 billion). The country’s tax revenue last year fell 62% compared to the partial collection period in 2022, when the tax regime was introduced in May 2022. Crypto transactions in Indonesia are subject to dual taxation: a 0.1% income tax and a 0.11% value-added tax (VAT). Additionally, local crypto exchanges must contribute around 0.04% tax to the national crypto bourse. On the other hand, bitcoin (BTC) jumped 159% in 2023. Despite this significant market upturn, Indonesia’s crypto tax revenue experienced a downturn,…

With Bitcoin surging above $50,000, top analyst EGRAG Crypto speculates that that BTC would hit a market cap of $2 trillion by September. In a tweet today, EGRAG urged crypto enthusiasts to gear up for the ride of a lifetime as he expects Bitcoin to continue its tremendous rally into the year. Bitcoin Market Cap to Hit $2T in September Notably, EGRAG predicted that Bitcoin’s market capitalization will surge to an astounding $2 trillion by September 2024. #BTC $2 T in MC September 2024: 🚀 Get ready for the ride of a lifetime! By September 2024, #BTC is set to…

Ethereum (ETH) is down nearly 10% from its local top. Hence, a whale chose to buy the dip and withdrew 3,600 ETH worth $8.9 million from Binance. The broader crypto market, including the flagship crypto asset – Bitcoin, is struggling in January. However, some whales are utilizing the opportunity to accumulate these crypto assets at a lower cost. Ethereum Whale Goes Back to Accumulation Mode On Friday, a wallet address – 0x347 withdrew 3,600 ETH from Binance. The screenshot below from Spotonchain shows that the whale has a track record of accumulating ETH during the market lows and selling the…

Hong Kong digital asset fund manager HashKey Capital and FTSE Russell have unveiled three cryptocurrency indices. According to The Straight Times, the idea behind HashKey Capital and FTSE Russell, a division of the London Stock Exchange (LSEG), is to make it easier for traders to keep track of multiple assets simultaneously. Indices track cryptocurrencies by market capitalization, infrastructure, and applications. In this way, they can plan investment strategies more efficiently and effectively. One of the three is the FTSE Custom Digital Asset Top 20 Index, which tracks the 20 most considerable crypto assets based on market capitalization. It reflects at…

Wormhole introduced NTTs, that is, Native Token Transfers. The functionality aims to boost interoperability and cross-chain transfers, enabling developers to come up with more innovative cross-chain protocols. It is interesting that tokens do not lose their behavior after the transfer. Developers remain in control over the factor as Wormhole attempts to stand by its commitment to technical expertise, community alignment, and ethical principles. NTTs have been defined as a framework that is flexible, open, and composable when it comes to transferring tokens across blockchains. At its core is the objective of preserving the intrinsic properties of the token. The three…

The leading cryptocurrency Bitcoin (BTC) surpassed $ 50,000 last night. While this rise stimulated the market, the next targets in Bitcoin started to be discussed. While some analysts state that the rise will continue, some analysts state that a correction may occur from these levels. Accordingly, CryptoQuant analyst believes that Bitcoin may turn downward. At this point, the analyst said that Bitcoin’s current SOPR Ratio indicates a possible correction. Stating that the SOPR Ratio has increased above 1, the analyst said that this ratio shows that Bitcoin owners who are making a profit at the current price may be making…

There has been some optimism in the market about the approval of a spot ether (ETH) exchange-traded fund (ETF) by May 23 this year, which is the Securities and Exchange Commission’s (SEC) deadline for the Ark 21Shares application. Per JPMorgan (JPM), the probability of the SEC approving the same by May is no more than 50%. Since the BTC ETF narrative gripped the market last year, traders have been looking at ether as the next likely candidate to get a spot ETF approval in the U.S. Reflecting this sentiment is the discount to net asset value (NAV) for the Grayscale…

Magic Square launches $750K Engage-To-Earn campaign: 1.5M $SQR tokens up for grabs. Participants engage with the Magic Square platform to earn rewards based on involvement. The initiative underscores Magic Square’s commitment to web3 innovation and community growth. In a bold move to redefine community engagement and investment in the web3 realm, Magic Square, the web3 app store backed by Binance Labs, has introduced an Engage-To-Earn campaign featuring a substantial $750,000 prize pool in $SQR tokens. The campaign, set to commence on February 12, aims to reward active members and enhance the value proposition for $SQR token investors. Magic Square’s Co-Founder…

Bitcoin maximalist Max Keiser has taken to the X/Twitter network to target his critique at XRP once again, claiming that the coin will collapse in the future against Bitcoin. Max Keiser slams XRP, predicting price crash Keiser has once again taken to criticizing the Ripple-affiliated cryptocurrency XRP, calling it “centralized garbage.” Keiser added that XRP “goes to zero against Bitcoin.” That was his answer to a question from a crypto community member, who asked that if “governments are buying Bitcoin with fiat, who is to say they don’t with XRP?” BECAUSE . . . It’s widely understood that XRP is…

Leonidas, the pseudonymous founder of Ord.io, an ordinals explorer, has reported one of the biggest sales of inscriptions, the so-called Bitcoin native non-fungible tokens (NFTs), to date. Leonidas stated that the second inscription on the Bitcoin blockchain had been sold for 24.48 BTC (over $1.1 million), predicting that more sales will beat this record in the short term. Inscriptions Market Registers Biggest Sale to Date: 24.48 Bitcoin Ordinal inscriptions, a protocol that allows the representation of images and other data directly on top of the Bitcoin blockchain, are breaking sales records. Leonidas, the founder of ord.io, an inscriptions browser/ explorer,…