Kategorie: Crypto News

Daily crypto headlines and news about bitcoin, ether, ripple, solana, altcoins, nft, market, business, analysis, nft, metaverse, minting and mining.
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Binance introduces Binance Tax for calculating taxes on transactions

  • Binance Tax allows users to calculate taxes on up to 100,000 transactions.

  • The service is currently available to users in Canada and France.

  • Binance wants the tool to help its users keep up with their tax obligations.

Binance Tax is now available to users in France and Canada

Binance, the world’s leading cryptocurrency exchange by trading volume, announced on Monday, February 6th, that its Binance Tax tool is now available to its users in France and Canada.

In its blog post, Binance explained that the new tool is designed to help users calculate the tax obligations on their crypto transactions. This latest cryptocurrency news comes as more governments around the world look to ensure they don’t miss out on revenue from the crypto industry.

While explaining the tool, Binance wrote that;

“In one click, you can now import your Binance transactions into our calculator and obtain a simple yet comprehensive estimate of your tax obligations depending on your jurisdiction.

Binance Tax is still in an early launch phase, and as such, its algorithm does not yet cover all the types of transactions within our vast ecosystem. Binance users should adjust accordingly in their final tax report.”

Binance Tax can report up to 100,000 transactions

The world’s largest cryptocurrency exchange added that the Binance Tax tool is free for its users in Canada and France to use. The tool supports up to reportable 100,000 transactions, ensuring that most users will capture their cryptocurrency transactions on Binance during a select period.

However, Binance explained that the product is still in its early stage and might not support some products. 

The crypto exchange added that Binance Tax provides detailed information on the transactions users make on its platform. The information helps users file their taxes, including but not limited to: spot trades, crypto donations, and even blockchain fork rewards.

While the tool is only available to users in Canada and France at the moment, Binance could roll it out to its users in the United States and other parts of the world in the coming months or years.

The post Binance introduces Binance Tax for calculating taxes on transactions appeared first on CoinJournal.

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Lightning Network hits all-time high in Bitcoin capacity

  • Lightning Network has reached over 5,490 in Bitcoin payments capacity, an all-time high.
  • Transactions in BTC on the layer-2 payments network have increased roughly 63% since January 2022.
  • The increased Bitcoin micropayments via Lightning Network comes as BTC price retreats below $23k after a great rally to start 2023.

Lightning Network’s capacity in terms of Bitcoin across payment channels has hit a new all-time high, according to the latest data on usage for this major payment network.

The Block Research shows the critical layer-2 network, which is built on Bitcoin, has seen its capacity grow to over 5,490 BTC. That’s nearly 160 BTC more than what was observed on 4 February 2023, according to details shared by Lightning Network statistics.

Lightning Network capacity up 63% since January 2022

The benefits of the Lightning Network technology, mainly around fast and low-cost micropayments, has increasingly attracted more people. According to the data, Lightning Network’s capacity in BTC terms is up approximately 63% since January 2022.

Approximately 3,350 bitcoin was recorded in payment channels on the protocol on 1 January last year. From the figures, it’s clear that total network value has declined compared to when Bitcoin price hit an all-time high in November 2021. The value of current Lightning Network capacity in USD is around $128 million – down from more than $216 million when BTC raced to highs of $69,000.

But as the on-chain metrics for the payment network’s daily usage shows, there has been continuous adoption even as the crypto winter saw crypto prices crash. Bitcoin is currently trading above $22,700 after a brief rally last week ended with bears mounting a wall near $24,000.

According to data from CoinGecko, BTC price remains roughly 67% off the ATH of $69.044 reached on 10 November 2021. In comparison, (as noted above) LN capacity has increased 63% since January 2022. 

Find out more about Lightning Network here.

The post Lightning Network hits all-time high in Bitcoin capacity appeared first on CoinJournal.

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StarkWare partners Chainlink to advance StarkNet adoption

  • StarkWare has also joined the Chainlink SCALE program, with Chainlink’s price feeds now live on StarkNet.
  • The partnership will enable further growth and adoption of Web3 services and products on StarkNet.
  • Over $800 billion worth of transactions have been recorded on StarkNet, with more than 95 NFTs minted.

STARK-based Ethereum scaling platform StarkWare has announced a partnership with leading blockchain oracle network Chainlink Labs, the firm behind Chainlink.

As a result of this collaboration, Chainlink’s Price Feeds are now live on the StarkNet testnet and will soon be deployed on the mainnet, the platforms noted in a statement.

StarkWare joins Chainlink SCALE

In a blog announcement on 6 February,  the StarkWare team said teaming up with Chainlink will help scale the adoption of Validity-Rollup layer-2 solution StarkNet. The protocol offers scalability solutions on the Ethereum blockchain.

The partnership also sees StarkWare officially join the Chainlink SCALE program. The Sustainable Chainlink Access for Layer 1 and 2 Enablement, or SCALE program aims at advancing the development of blockchains and scaling solutions.

 “We’re excited to be joining the Chainlink SCALE program to provide our ecosystem of developers with access to the industry standard for oracle services, enabling a next-generation of globally scalable Web3 applications to be built on Starknet,” StarkWare co-founder Eli Ben-Sasson said in a press release.

The initiative will see StarkNet native token STRK used to cover some of the costs around operation of Chainlink oracle nodes. The goal is to have growth and long-term adoption of the permissionless layer-2 solution powered by a low-cost ecosystem. 

It’s a project that Starknet believes will benefit both developers and users, with access to real-world data via Chainlink supporting app development and use.

StarkWare has experienced a sharp growth trajectory over the past few months, with the platform recording over 300 million transactions across its products. The network has also settled more than $800 billion worth of digital asset transfers and registered more than 95 million NFT mints.

Chainlink on the other hand, is a leader in Web3 services. The platform has helped power transactions worth trillions of dollars across the ecosystem, including in DeFi, NFTs, insurance, and gaming.

The post StarkWare partners Chainlink to advance StarkNet adoption appeared first on CoinJournal.

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Crypto Billionaires Lose Billions in Crypto Markets – Experts Predict Metacade Will Soar

Crypto billionaires are among those that have suffered the worst from the crypto crash of 2022, seeing billions of dollars wiped from the value of their investments. As markets reeled from a string of big names in crypto filing for bankruptcy, such as Luna and FTX, and global economies struggling due to a raft of different challenges, crypto billionaires looked on in horror as the value of their holdings nosedived almost overnight.

These events shook investor confidence, but the good news for crypto billionaires and those looking to make their first steps into crypto investment is that some projects can still offer major potential gains. One of these is the new blockchain gaming platform, Metacade.

What is Metacade?

Metacade is the world’s first virtual online gaming arcade that harnesses blockchain technology to offer gamers the broadest array of play-to-earn (P2E) gaming titles coming to the metaverse. The project aims to bring together gaming enthusiasts in one central place, to build a community with like-minded individuals while empowering gamers and GameFi fans to determine the platform’s future direction.

P2E functionality is the primary attraction to pull gaming enthusiasts into the hub. Unlike many other metaverse gaming platforms that rely on a single title to attract gamers, Metacade’s comprehensive game library has something for gamers of every hue. From the casual gamer wanting to thrash their friends in a traditional Streetfighter-esq “beat-‘em-up” duel to the serious tournament gamer, everyone who takes part can earn crypto rewards.

How does Metacade work?

MCADE is the currency that provides fuel for Metacade’s platform. It underpins every facet of the project, providing the funding that flows into players’ wallets and supplying the impetus to position Metacade at the head of the metaverse gaming revolution.

Revenue is generated through several channels, some from the community and others from outside sources. Metacade members can invest MCADE tokens through staking to enter online tournaments and prize draws to share in lucrative prize pools as part of the Compete2Earn scheme, and by playing pay-to-play titles just as they would in a real-world video arcade.

External funding is sourced from advertising on the hub, selling space to other game developers to release games on Metacade through their launchpad program, and from Q1 2024 by allowing Web3 companies to post the most exciting career development opportunities on their job board as part of the innovative Work2Earn initiative.

Meanwhile, the community can access additional earning streams alongside the primary P2E mechanism. One of these is through success in Compete2Earn tournaments, while another is the Create2Earn platform, where users are rewarded in crypto for social interactions with the hub. The more content they create, the more they earn through contributions such as game reviews, knowledge sharing, and engaging in live chats.

Metacade: Driving GameFi innovation

One of the most novel ideas fuelling interest in Metacade is their ground-breaking Metagrants scheme which looks set to evolve the platform to new heights while providing support for the wider Web3 sector through the promotion of and investment in new ideas.

Developers are encouraged to submit ideas for exclusive new games into a pool, whereby MCADE token holders can vote on them. The most popular submissions are granted funding from the platform’s treasury wallet to bring developers’ ideas into reality. The scheme launches in Q3 2023, with the first title to be launched in Q1 2024.

The Metagrants scheme provides the Metacade community with greater autonomy in determining the direction of the hub and opens up access to some of the best and most exciting new titles within Web3, with fully community-endorsed games filling the platform’s arcade.

Could MCADE reach $1 in 2023?

The hype generated by Metacade through its presale event has seen a phenomenal $5.4m raised in only 10 weeks. That figure continues to shoot up as as investors flock to MCADE, cementing it as potentially one of the best crypto investments of the year.

The price of MCADE is currently $0.013 and will increase in value to an eventual level of $0.02 when the presale ends. Predictions are that once MCADE hits the exchanges, interest could soar. With presale investors retaining their holding to see what gains can be made and new investors scrambling to get their hands on the remaining supply, forecasts of MCADE surging through the $1 barrier in 2023 are not unrealistic.

Buy MCADE now: The best GameFi investment of 2023

At $0.013, MCADE looks undervalued, even considering current bearish market conditions. The hugely popular and well-conceived roadmap, combined with the vast long-term potential of Metacade, means it could be an outstanding investment opportunity in 2023.

While investing in MCADE won’t quickly replace the lost billions of crypto billionaires, it does represent an great crypto investment for any crypto investor.

You can participate in the Metacade presale here.

The post Crypto Billionaires Lose Billions in Crypto Markets – Experts Predict Metacade Will Soar appeared first on CoinJournal.

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Jasmy price technical analysis as rebound accelerates

  • Jasmy Coin price has jumped by over 152% from its 2022 low.

  • The coin has more room to run but a short-term pullback can’t be ruled out.

The Jasmy Coin price rose on Monday, continuing a bullish trend that started in December when it dropped to a low of $0.0028. It jumped to a high of $0.0074, the highest point since September 18. It has jumped by over 152% from its lowest point in December, as we wrote here.

JASMY/USD daily chart analysis

The daily chart shows that the JASMY coin price has been in a strong bullish trend in the past few weeks. This recovery has been accompanied by elevated volume levels. At the same time, the coin has managed to move above the important resistance level at $0.0060, the highest point on January 24.

Jasmy also jumped to the 50% Fibonacci Retracement level. Also, it jumped above the crucial resistance point at $0.0068 (October 30 high). It has also jumped above the 50-day moving average and the Ichimoku cloud indicator. Jasmy, which is known as Japan’s Bitcoin, has also formed an inverted head and shoulders pattern, which is a bullish sign.

Therefore, it seems like Jasmy has the momentum it needs to continue rising in the coming days. If this happens, the next key resistance level to watch will be at $0.0086, the 61.8% Fibonacci Retracement point. This price is about 27% above the current level.

On the flip side, a drop below the important support level at $0.0060 will invalidate the bullish view. If this happens, it will signal that there are still sellers left in the market who will be keen to push it to the next key support level at $0.0050.

Jasmy price 4H chart analysis

On the 4H chart, we see that the Jasmy Coin price has made a spectacular comeback in the past feww weeks. As it rose, the token crossed the key resistance level at $0.0060, where it struggled to move above on January 24 and February 2. The coin is also above the 25-day and 50-day EMAs.

At the same time, a closer look shows that volume bars have started to drop. Therefore, this could be a sign that the bullish trend is fading, which could see it retreat in the coming days. But on a positive side, the coin has formed a small hammer pattern, which is a bullish sign. 

A reversal will be confirmed if JasmyCoin price plunges below the lower side of the hammer at $0.0065.

JASMY/USD chart by TradingView

The post Jasmy price technical analysis as rebound accelerates appeared first on CoinJournal.