Schlagwort: crypto business

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Looking to 10x your money in crypto? Top coins to consider

There have been stories in crypto where people have gone from rags to riches in literally months. Shiba Inu for example was one coin that astonished everyone in 2021 with unimaginable growth. For this reason, a lot of investors are always looking for the next big coin that will deliver 10x or more in growth. Here is what to look for in case you want such projects:

  • Always focus on microcaps that have smaller valuations in the market.

  • You must be first or among the first people to invest in that asset.

  • Always analyze the underlying business behind a coin before you buy.

Well, we have done some research on these coins and came up with a list of assets we think have the potential to 10x in the near term. Here they are:

Highstreet (HIGH)

The rise of the metaverse will be the next big thing in crypto. As we speak, a lot of money is flowing towards metaverse projects, and the few metaverse coins we have in the market are seeing strong growth. 

Data Source: Tradingview 

Highstreet (HIGH) however offers the incredible promise of outstanding returns. The coin combines virtual reality, NFTs, and gaming in one large metaverse. When you consider that HIGH has a market cap of $89 million, it could easily grow 10x in no time.

Base Protocol (BASE)

For example, let’s say you want to speculate on crypto without having to buy many coins; what do you do? Well, Base Protocol (BASE) allows you to get that option. This is a coin that is pegged on the overall market cap of the crypto industry at a rate of 1:1 trillion. 

Considering that it has a market cap of around $1.5 million, there is just something raw about this coin that could explode massively in the future. BASE is a short to medium-term asset worth your shot.

The post Looking to 10x your money in crypto? Top coins to consider appeared first on Coin Journal.

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Timing the crypto dip: Top coins to keep on your radar

Dip buyers in crypto are waiting in suspense, trying to find any chance to buy-in. But it seems the market is really rallying with most coins on a bull run. But the next dip may actually come sooner before you think. Here is why:

  • Most coins despite rallying have stagnated in recent days.

  • It is likely that some investors may decide to lock in profits after the recent rally.

  • Geopolitical and economic risks have still remained at a high

In case you are waiting for the next crypto dip, there are some coins that you should pay very close attention to.

Bitcoin (BTC)

The performance that Bitcoin (BTC) has shown in recent days has been quite remarkable. The coin has rallied from nearly $32,000 and is now slightly above $47,000. However, even though BTC has managed to smash past its 50- and 100-day SMAs, the coin appears to have stagnated in its attempt to clear the 200-day SMA.

Data Source: Tradingview 

It’s now three days in a row where Bitcoin has tested that price and got rejected. There is major resistance on the 200-day SMA it seems and as such, we may see some sharp fall if BTC fails again to cross over.

ApeCoin (APE)

ApeCoin (APE) just came into the market the other day and has managed to get a market cap of around $3.8 billion in just a few days. But a pullback is coming. Just recently, APE was trading at $6 and at half the current market cap. It is likely the coin will fall back sharply in a correction and as such, it will be a great time for dip hunters to buy.

There are also other dip-buying opportunities to look out for, including Shiba Inu, Axie Infinity, Cardano, and others.

The post Timing the crypto dip: Top coins to keep on your radar appeared first on Coin Journal.

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India’s crypto tax policy takes effect on 1 April: Here’s a brief recap

In February, India’s Finance Ministry introduced new tax proposals on cryptocurrency, with the effective date of the capital gains tax set for 1 April 2022.

That has been clear since. But what else might crypto holders need to keep tabs on?

What the Taxation of Virtual Digital Assets says

As part of her budget speech then, Finance Minister Nirmala Sitharaman announced a 30% capital gains tax on all Virtual Digital Assets (VDAs). She also introduced a 1% TDS levy on all transactions involving crypto.

The crypto community has also known since a clarification was announced two weeks ago, that there would be offsetting of losses in one asset with the income from another.

Also key is the clarification that costs of mining would not apply in tax calculations as cost of acquisition. More than that, using VDAs for gifts would also constitute a taxable event.

Note that non-fungible tokens (NFTs) also fall into the category of virtual digital assets.

Key dates

  • 1 April 2022 – the effective date for the 30% capital gains tax on VDAs.

  • 1 July 2022 – the 1% TDS levy on all cryptocurrency transactions.

The government needs to rethink this policy, crypto exec says

“Tomorrow, new crypto tax comes into effect. The Indian Government needs to rethink this tax policy,” Nischal Shetty, the CEO of crypto exchange WazirX tweeted on Thursday.

According to him, the taxes could force people to find ways to trade on foreign exchanges, trade without KYC or use grey markets. There could also be large tax defaulters, not to mention the potential for large claims of TDS refunds.

“The flat 30% tax rate may not prove the best outcome since it does not consider aspects of long and short term gains calculated in line with the holding period of VDAs,” Rishi Anand, Partner at DSK Legal told The Times of India.

“Gifting VDAs may not become mainstream due to this tax regime,” he added.

The post India’s crypto tax policy takes effect on 1 April: Here’s a brief recap appeared first on Coin Journal.

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Why has STEPN (GMT) price risen by more than 320% in two weeks?

With the majority of the altcoins seeing significant price gain lately, there is one by the name of  STEPN (GMT) that has broken the ranks by rallying by over 320% in the past fourteen days.

At the time of writing, it was trading at $2.31 after a slight retracement from a daily high of $2.46 but still in the green with a 12.30% rise over the past 24 hours.

This article reflects on the factors behind the current STEPN price rise.

What STEPN?

STEPN is a Web3 lifestyle app launched on the Solana blockchain with fun features as well as a gaming design. It has two tokens; Green Metaverse Tokens (GMT), which is its governance token, and Green Satoshi Token (GST), which is used as the game token.

To earn GST tokens, users are given NFT sneakers with a built-in swap function to jog, walk or run outdoor, users are rewarded for running or walking. GST earnings are then stored in an in-app wallet and can be used to mint new sneakers or to upgrade game level.

Why is STEPN (GMT) price surging?

There are three main factors being attributed to the current surge in GMT price. These include the recent announcement about Nike and Adidas sportswear by a STEPN representative, STEPN’s partnership with Binance, and STEPN’s plan to apply a move-to-earn method.

  • Announcement about Nike and Adidas sportswear

During an interview, one of the STEPN representatives whose identity was not disclosed said that they have an upcoming announcement regarding big sportswear companies like Nike and Adidas.

In a recent interview, an unnamed STEPN (GMT) crypto platform representative says they have an upcoming announcement relating to sportswear giants Adidas and Nike.

“Big sports brands like Nike and Adidas are known for shaping the market regarding walking and running. Do you see these players as a threat in the future? You will see we have an announcement about this very soon.”

  • STEPN partnership with Binance

In a tweet earlier this week, STEPN gave a hint that it was planning an undisclosed partnership with a crypto exchange, Binance.

  • Move-to-earn method

In addition, during a Solar Eco Fund interview, they said that to remain competitive, they will apply the move-to-earn crypto project to maintain a high return on investment (ROI) on GMT tokens.  

“People are chasing high sustainable ROI, we believe we will be on the top of the list by providing long-lasting use cases and burning scenarios of GMT to maintain the high demand of GMT.”

Besides, STEPN is planning to convert the STEPN app to an NFT marketplace and a social platform.

The post Why has STEPN (GMT) price risen by more than 320% in two weeks? appeared first on Coin Journal.

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Highlights March 31: Solana and Avalanche stand out in top 10

The crypto market as a whole was in the green at the time of writing. Crypto companies in the UK were granted an extension by the country’s financial regulator to get their approval affairs straightened out.

Texas will require large-scale crypto asset miners to receive permission before connecting to the state’s electric grid as demand for electricity is expected to rise sharply among them in the coming years.

Top cryptos

Solana and Avalanche stood out among major cryptos, gaining 9% and 7% over the past 24 hours. Solana gained on news of an OpenSea integration.

Cardano, Polkadot, and BNB all gained above 2%. Bitcoin was trading just above $47,000 at the time of writing, down less than 1% over the past 24 hours.

Top movers

IoTeX and IOST, two similar ecosystems, are seeing spectacular gains today. They’re up 18% resp. 46%. 

IOST built a cross-chain bridge to Polkadot and is launching the trial version of its cross-chain bridge with Ethereum in April, giving users on Ethereum access to quicker and cheaper transactions.

Both IoTeX and IOST users will have more options to earn with DeFi and staking.

Zilliqa is another market leader on March 31, up 32% at press time. Since Zilliqa announced the launch of its metaverse platform Metapolis, it has gained 270%.

Theta Fuel, which powers the Theta Network, is also one of today’s biggest gainers, adding 15%. Tron and Enjin Coin each added 11% to their value.

As the month closes, Chiliz, Aave, and Waves are reversing yesterday’s gains. They lost 5%, 6% and 4% respectively.

Trending

Mooney, a token issued by MoonDao with the purpose of sending a member of the organization to space this year, is up 103% in the last 24 hours. 

After announcing a fundraiser to this end, MoonDAO accumulated 2,620 ETH on Juicebox, the equivalent of $8 million.  

The post Highlights March 31: Solana and Avalanche stand out in top 10 appeared first on Coin Journal.