Schlagwort: crypto business

Veröffentlicht am

Why Loopring could test $1 soon

  • Loopring and other Ethereum layer-2 solutions are set to explode as Eth 2.0 is now close to becoming fully operational.

  • Loopring has an edge for its Zk Rollups that make transactions safe and faster.

  • Loopring is currently trading in a bullish channel despite the high volatility.

Ethereum developers have made huge progress towards the launch of Ethereum 2.0. By mid-year, the transition is expected to be complete. It is expected that the impact on Ethereum’s price will be huge because gas fees will drop, and Ethereum will handle a lot more transactions per second than it can today. 

The best part is that Eth2.0 will also open up many opportunities for layer 2 solutions. Layer 2 solutions will take a more central role in completing Ethereum-based transactions to get the load off the Ethereum mainnet. One of the projects set to benefit the most from the shift to Ethereum 2.0 is Loopring.

Loopring (LRC) is a decentralized exchange that can be used to trade ERC tokens without having to go through the Ethereum mainnet. Since Loopring uses Zk Rollups, transactions are fast and take a fraction of the cost that they would, were they to be completed on the Ethereum mainnet.

Loopring has been growing in popularity, and with Eth 2.0 almost complete, a lot more transactions will go through Loopring. Loopring is already showing positive signs, and in the past week, when the entire market was turning bullish, Loopring rallied by over 20%. It’s an indicator that once bulls gain control again, LRC could be a winner. 

Loopring trading in a bullish channel 

Source: TradingView 

Since March 18th, Loopring has been trading in a bullish channel, despite the volatility in the broader crypto market. Currently, Loopring is trending towards the 50-day MA resistance at $0.848. If it breaks through this resistance, $1 could be within reach pretty soon.

Summary

Loopring and other layer-2 solutions are set to grow as Eth 2.0 edges closer to completion. Loopring is already showing signs of an uptrend as it continues trading in a bullish channel despite the volatility.

The post Why Loopring could test $1 soon 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

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.

Veröffentlicht am

SuperRare pumps on unique upcoming NFT drop, up 39%: here’s where to buy RARE

The SuperRare ecosystem announced on Twitter that holders of the native RARE token have one day left to vote for the next independent galleries to be featured on SuperRare. Voting closes on March 21 at 9pm PST. At the time of writing, RARE had added 39% to its value.

If you are attracted to unique features and want to learn how and where to buy RARE, this guide is for you.

Top places to buy RARE now

As RARE is such a new asset, it’s yet to be listed on major exchanges. You can still purchase RARE using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy RARE right now, follow these steps:

1. Buy ETH on a regulated exchange or broker, like eToro ›

We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.

2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask

You’ll need to create your wallet, grab your address, and send your coins there.

3. Connect your wallet to the Uniswap DEX

Head to Uniswap, and ‚connect‘ your wallet to it.

4. You can now swap your ETH for RARE

Now that you’re connected, you’ll be able to swap for 100s of coins including RARE.

What is RARE?

SuperRare is a leading NFT platform with around $90 million worth of digital art collected to date. In its 1.0 version, the team of SuperRare selected artists to mint their works on a shared smart contract as SuperRare NFTs.

With verison 2.0, this changed by introducing independently running storefronts, web-scale curation, and sovereign minting contracts for the artists to promote, mint, and sell their works directly to collectors.

With the goal of progressive decentralization, SuperRare shifted governance and ownership of the network to the community. It is a DAO that allocates funds from the Community Treasury, oversees key platform parameters, and votes on proposed improvements to the protocol and network.

Should I buy RARE today?

Considering how hard it is to come up with an accurate cryptocurrency prediction, you should never take any decisions affecting your finances before an in-depth market analysis. Don’t invest more than you can afford to lose.

RARE price prediction

Tech News Leader predicts SuperRare can go up to $0.93 by the end of this year. In 5 years, 1 RARE will trade for $2.69. In a decade, 1 RARE will be worth $17.43.

RARE on social media

The post SuperRare pumps on unique upcoming NFT drop, up 39%: here’s where to buy RARE appeared first on Coin Journal.