Kategorie: Crypto News

Daily crypto headlines and news about bitcoin, ether, ripple, solana, altcoins, nft, market, business, analysis, nft, metaverse, minting and mining.
Veröffentlicht am

Shiba Inu breaks 100-day MA resistance: Can bulls sustain momentum?

  • Shiba Inu is trading in the direction of Bitcoin and the broader market. This is a good indicator as buying volumes are rising across the market.

  • Shiba Inu also has the support of its growing fundamentals, such as its Metaverse project.

  • Shiba Inu has already crossed the 100-day MA resistance, a pointer to rising buying volumes. 

Shiba Inu (SHIB) made history in 2021 after it recorded gains of 48,000,000% just a year after launch. Today, anyone who put in just $100 in SHIB in early 2021 is a multi-millionaire. However, with the market heavily bearish, it is only natural to wonder, is SHIB still a good investment in 2022? The answer is yes. 

Like the rest of the market, Shiba Inu prices have been depressed for the past few months, so it is nothing unique to Shiba Inu. Besides, Shiba Inu’s price has been moving in tandem with the rest of the market, so you can expect SHIB to rise if the broader market gains upside momentum.

The best part is that bullish momentum seems to be on the rise in the broader market. For instance, Bitcoin has been gaining upside momentum in the last few days. While buying volumes are still relatively depressed, Bitcoin has managed to hold above the $40k support. This has also seen SHIB, and a host of other altcoins, gain upside momentum as well. If Bitcoin takes off from its current price, SHIB could rally as well. 

Besides, the Shiba Inu team is working hard to add to the project’s intrinsic value. For instance, the team is currently building a Metaverse, a factor that will significantly add to the intrinsic value of SHIB going into the future. 

SHIB breaks the 100-day MA resistance

Source: TradingView

In the last 24-hours, SHIB has been in a bullish reversal and has pushed through the 100-day MA resistance at $0.00002284. If bulls can sustain momentum and push through the 50-day MA at $0.00002348, Shiba Inu easily hit prices above $0.00002700 in the short term. 

Summary

With buying volumes rising in the broader market, Shiba Inu has good prospects of rallying in the short term. Besides the price action, the Shiba Inu team is working on a Metaverse, which could help drive up the value of SHIB long term.

The post Shiba Inu breaks 100-day MA resistance: Can bulls sustain momentum? appeared first on Coin Journal.

Veröffentlicht am

India’s crypto tax law clarification is ‘a step backwards’, says CEO of CoinSwitch

India’s proposed crypto taxation law will take effect on 1 April this year.

Ashish Singhal, the co-founder and CEO of India’s largest crypto exchange CoinSwitch Kuber, says the country’s crypto tax law signals a “step backwards.”

Singhal expressed his disappointment on Monday following clarification from authoirities regarding a crypto tax law that’s set to take effect on 1 April 2022.

India announced its cryptocurrency tax law in February, revealing a 30% tax levy on any digital asset transfer. There was also to be 1% deduction applicable to all crypto payments, with this levied at the source.

While the crypto community pointed out the high taxes, it acknowledged the country’s ‘recognition of cryptocurrencies’. But on Monday, most crypto investors were shocked by the Ministry of Finance’s clarification notice.

According to the ministry, India will look to tax each crypto investment separately, reiterating the fact that gains in one investment cannot be used to offset losses in another. It also specified that infrastructure costs related to crypto mining will not count as cost of acquisition.

It’s „detrimental“ to crypto investors

The founder of crypto news platform Coin Crunch India summed the community’s frustrations in his tweet.

“This is detrimental for India’s crypto industry and the millions who have invested in this emerging asset class,” the CoinSwitch CEO noted of the Finance Bill 2022.

He added that India had “taken a step backwards,” in reference to the February Budget Bill that had “recognised virtual digital assets (VDAs) as an emerging asset class.”

He said he expected the country to have progressively worked towards ensuring crypto regulations were “at par with other asset classes.”

He also opined that such regressive provisions being applied to the equities market would definitely discourage retail investors. It is a scenario he believes could materialise in the burgeoning crypto investment community.

“We fear the lack of provision to offset losses will drive away users from KYC-compliant exchanges and platforms to the underground peer-to-peer grey market, which would defeat the purpose of the tax,” he said.

The post India’s crypto tax law clarification is ‘a step backwards’, says CEO of CoinSwitch appeared first on Coin Journal.

Veröffentlicht am

Goldman Sachs executes first over-the-counter crypto trade

Goldman’s over-the-counter crypto transaction was facilitated by Michael Novogratz’s Galaxy Digital Holdings.

Goldman Sachs is said to have completed its first over-the-counter crypto derivatives trade, the first major US bank to dive into the growing crypto options market.

The development came to light on Monday and saw the bank make the maiden OTC crypto trade featuring a type of BTC derivative that settles in cash.

According to a report by CNBC, Goldman teamed up with Galaxy Digital to successfully execute the non-deliverable Bitcoin option. 

SkyBridge Capital’s Anthony Scaramucci pointed out that Galaxy Digital also helped it handle its first OTC crypto trade.

Crypto has matured as an asset class

This is not the first time Goldman Sachs, which already allows its clients access to non-deliverable forwards and exchange-traded options. 

However, the OTC trade is the ‚first big move‘ to highlight the increased interest in crypto investment products from institutional investors. It also comes as traditional finance continues to show a flip in sentiment towards digital assets.

Goldman’s Max Minton, the bank’s head of digital assets for Asia Pacific, said in a statement that the trade is an indicator that crypto as an asset class is mature. And he noted that the OTC trade marks an important milestone for the bank’s overall plans around digital assets, which he revealed to revolve around the crypto options market.

Galaxy co-President Damien Vanderwilt noted that Goldman’s Bitcoin crypto OTC trade marks the first step in major bank’s involvement, with clients set to benefit from more “direct, customisable exposures to the crypto market.”

Bitcoin and other crypto-assets continue to see greater interest after initial apathy from mainstream investors, including legacy financial institutions. 

Today, several major banks, hedge funds, endowments, family offices and sovereign wealth funds have crypto as a slice of their portfolios.

The post Goldman Sachs executes first over-the-counter crypto trade appeared first on Coin Journal.

Veröffentlicht am

Highlights March 21: Major cryptos slide, US indices surge

Major cryptos were in the red over the past 24 hours. The three major US indices all surged last week as a slowdown in the Russia-Ukraine war showed tentative signs that a peace process may be beginning.

The UK100 returned to positive for 2022 last week, posting rises of 4.18% over five days.

Top cryptos

Ethereum and BNB slid around 2%, Cardano and Solana were down approximately 3%. Avalanche was a notable exception, up by more than 4%. Bitcoin was trading just over $41,000 at time of writing, down less than 1% over the past 24 hours.

Top movers

Ethereum Classic is becoming extremely profitable to mine. The native token of the longest-running smart contract platform has added just under 25% to its value in the last 24 hours.

At #48, the much-hyped ApeCoin is beginning to decline. It lost 4.88% today, but its weekly gains are 956.79% according to CoinMarketCap.

At #100, Bitcoin Gold gained around 17% today. Its price has increased by 25% in the last year, in which time it outperformed more than two-thirds of the top 100 crypto assets. 

Kusama is on the side of the gainers with 7%. Dash is up 11%. OKB has lost 6%.

Trending

The biggest gainer today is HydraMeta (HDM), a platform that allows users to buy and sell in different blockchain markets without transferring to other cryptocurrency wallets. This reduces the fee rate generated by cross-chain transactions.

The live HydraMeta price today is $0.00016. It’s up 171% in the last 24 hours.  

The token of SuperRare NFT platform, RARE, surged 39% on news of an upcoming drop.

The cryptocurrency COS, which runs on the BNB Beacon Chain platform, gained 24% on news that http://COS.TV is no longer in Beta. It has gone live.

The post Highlights March 21: Major cryptos slide, US indices surge appeared first on Coin Journal.

Veröffentlicht am

COS skyrockets on launch of COS.TV: Best places to buy COS now

The cryptocurrency COS, which runs on the BNB Beacon Chain (BEP2) platform, gained 24% on news that http://COS.TV is no longer in Beta, among other positive developments. It officially launched according to their official Twitter channel.

Look no further than this short article if you want to know what COS is, if it’s worth investing in, and the best places to buy COS now.

Top places to buy COS now

Swapzone

Swapzone is a crypto exchange aggregator that operates as a gateway between the cryptocurrency community and exchange services. Swapzone aims to provide a convenient interface, safe user flow, and crystal-clear data for users to find the best exchange rates among the whole cryptocurrency market.

Buy COS with Swapzone today

Wazirx

WazirX is India’s largest crypto exchange. Started in 2018, WazirX has grown to be the most trusted exchange in the Indian crypto market. It is a part of the binance group, serving users in 180 countries.

Buy COS with Wazirx today

What is COS?

COS is the native token of Contentos, a platform that aims to build a decentralized digital content community. They are on a mission to produce, distribute, reward, and trade content freely, but without compromising authors’ rights.

The ecosystem strives to encourage content creation and global diversity and give users their content value and rights back.

Users of Contentos have a credit score, which is calculated based on their contributions. By receiving compensation for their work, users are incentivized to share and promote contents to the right audience.

Creation value and rewards are transparent and open with a decentralized revenue system. To ensure full traceability of copyright transaction and authentication, the ecosystem uses the latest blockchain technology.

Should I buy COS today?

COS can be a lucrative investment, but take the time to read at least several price predictions from leading analysts and do market research before making a commitment. Take all investment advice with a grain of salt.

COS price prediction

GOV Capital is quite bullish on the token. They predict it will be worth $0.04 in a year, which is about four times its current value. In 5 years, COS will change hands for $0.14.    

COS on social media

The post COS skyrockets on launch of COS.TV: Best places to buy COS now appeared first on Coin Journal.