Ethereum Financial News

A new meme crypto asset, $BILL, has captured the interest of the crypto community. 

Disclaimer: The text below is a press release that is not part of  Cryptonews.com  editorial content.

The government's classification of cryptocurrencies, NFTs, and tokens as virtual digital assets (VDAs) establishes their inclusion in the taxation framework. Therefore, any gains or income generated from these assets are subject to taxation. It is essential to navigate the crypto tax landscape to ensure compliance and accurately report your financial activities related to cryptocurrencies. How are Cryptocurrencies Taxed in India? All cryptocurrency purchases, sales, and transactions are subject to a 30% capital gains tax on profits, with no provisions for reduced rates or deductions under Section 115BBH. Along with the capital gains tax, a 1% Tax Deducted at Source (TDS) fee is applied to crypto asset transfers. Any transaction exceeding Rs 50,000 in a given financial year, the TDS that is deducted will be reflected in 26 AS and the same can be claimed back when filing income tax return.How to Calculate Tax on Cryptocurrencies?

Ether has been on a downward trend, with the $2,000 level forming a crucial resistance level in recent months.

Layer-2 blockchain Public Goods Network launched a testnet on July 7, promising to spend “the vast majority of net sequencer fees” on public goods instead of paying them out to the development team or token holders, according to an announcement from the network’s developers. In economics, a “public good” is a good that cannot be produced for profit because it is difficult to exclude non-payers from its consumption.

On today’s Macro Markets show, veteran stock market and Cointelegraph analyst Marcel Pechman starts by analyzing Argentina’s 150% inflation, which proves that people continue to work and consume (somehow) even if their local currency loses its value.

Bitcoin is still struggling to stay above $31,000.

Ethereum co-founder Vitalik Buterin has shared insights regarding new developments on the Bitcoin blockchain. 

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

Even as the crypto market returns to form, celebrities are still feeling the sting of manifold industry disasters and frauds last year that they unwittingly helped promote. 

Golteum due to its potential.  Golteum has been heralded in the blockchain space due to its innovative ideas and how much prospect it has coupled with its vibrant community ensuring it achieves its focus of promoting ease of trading of cryptocurrencies and precious metals. Let us explore why many traders and investors troop into Golteum (GLTM) rather than Graph token (GRT).

In mid-April 2023, a frog memecoin called Pepe dominated discussions in crypto circles after going up parabolically in the span of a few hours, going up by as much as 21,000%. Pepe follows a long list of memecoins led by Doge and Shiba Inu that made millions for some and lost even more money for others. 

Disclaimer: The text below is an advertorial article that is not part of Cryptonews.com editorial content.

Blockchain network Avail has launched a testnet data availability bridge to Ethereum, according to a July 7 announcement. Once testing is completed, the bridge will allow developers to easily create “validiums” or low-cost layer 2s that do not store full transaction data on Ethereum, the announcement stated.

The news surrounding BlackRock’s application for a spot Bitcoin (BTC) exchange-traded fund (EFT) sent the asset’s price from its local lows in mid-June to a strong monthly close of +12%. To most observers, this was a sign that institutional investment into the cryptosphere is once again on the horizon. A future approval of a spot ETF combined with rate cuts from the United States Federal Reserve could provide the ideal catalysts for the next bull run.

Disclaimer: The text below is a press release that is not part of  Cryptonews.com  editorial content.

cryptocurrency markets were majorly trading lower for the third straight day on Friday. Bitcoin (BTC) declined 1.46% to $30,155, whereas Ethereum (ETH) was below the $1,900 level. «Despite the slight selling pressure in the last 24 hours, the global crypto market capitalization continues to remain above $1.2 trillion. The crypto fear and greed index, too, continues to remain in the greed zone with a score of 55/100, down 1 point from yesterday,» Parth Chaturvedi, Investments Lead at CoinSwitch Ventures, said. «This selling pressure could be attributed to stronger-than-expected employment data in the US ADP private employment report. This could increase the possibility of another interest rate hike by the feds, which is driving the investor sentiment away from risk-on assets,» Part added.

A decentralized finance “circuit breaker” could have prevented billions of dollars worth of crypto being stolen from DeFi protocols in 2022, according to the developer of the newly published ERC-7265 proposal.

The advent of Bitcoin (BTC) Ordinals signals the “organic return of builder culture” to the network, according to Ethereum co-founder Vitalik Buterin.

Abnormally large outflows from the Multichain MPC bridge platform on July 6 have sparked fears that an exploit could be underway. Over $102 million worth of crypto has been withdrawn from Multichain’s Fantom bridge on the Ethereum side, as well as $666,000 from Dogechain and $5 million from Moonriver.

A recent report shows that Bitcoin miners have witnessed a notable achievement, surpassing its previous 2022 record.