Schlagwort: crypto business

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Thailand offers tax breaks for companies issuing investment tokens: Reuters

  • Thailand’s government will offer tax breaks for companies issuing investment tokens.

  • The government expects over $3 billion worth of investment token offerings over the next two years.

  • The move could attract more cryptocurrency companies to Thailand.

Companies that issue digital tokens for investment to enjoy tax breaks in Thailand

Thailand’s cabinet agreed earlier today that they would waive corporate income tax and value-added tax for companies that issue digital tokens for investment. 

According to a Reuters report, a government spokesperson said companies operating in the country would have the opportunity to access alternative ways of raising capital through investment.

This latest cryptocurrency news gives companies more fundraising options in addition to traditional methods like debentures, Rachada Dhnadirek revealed. 

The Thai government expects that there will be around  128 billion baht ($3.71 billion) worth of investment token offerings over the next two years. However, the government would lose tax revenue worth 35 billion baht ($1 billion), Rachada added. 

Thailand could attract more cryptocurrency companies

The move to give companies issuing investment tokens tax breaks could attract more cryptocurrency-focused companies to Thailand.

Cryptocurrencies have become quite popular in Thailand in recent years after the country’s Securities Exchange Commission started regulating digital currencies. 

In 2022, the government relaxed tax rules in the cryptocurrency trading industry in a move to promote further development. 

Despite that, Thailand’s apex bank and other regulators have banned the use of cryptocurrencies as a means of payment for goods and services. According to the central bank, using cryptocurrencies as means of payment could impact Thailand’s financial stability and the overall economy.

In January, the Thai SEC launched a probe into the Zipmex cryptocurrency exchange for allegedly breaching local rules. The SEC was investigating activities that they believed could have violated the business rules for digital asset providers in the country.

The regulatory agency had asked Zipmex to clarify whether it has been operating as a digital asset fund manager in the country without proper licences. 

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Candy Digital and Getty Images to release ’70s music and photos NFTs

  • NFT Startup Candy Digital has tapped Getty Images for ’70s Music and Photos.
  • The two firms will sell rare photos and music as NFTs.
  • The NFTs will include several iconic images from famous photographers in the 1970s.

Candy Digital has curated a collection of NFTs on Getty Images centred on some of the most influential musicians of the ‘70s and the photographers that captured them. The collection shall include the NFTs of rock icons like John Lennon, James Brown, and Elvis Presley.

The NFT collection is scheduled to launch through an open-edition mint slated for March 21, 2023.

Candy Digital and Getty Images partnership

The unveiling of the new collection comes almost a year after Candy Digital and Getty Images signed a partnership in May 2022, about a year after Candy Digital launched.

Candy Digital launched in 2021 and it rocked with its official line of Major League Baseball collectibles. The NFT firm is now stepping up its game, this time with Getty Images.

As part of the partnership, Candy Digital is set to give away a free introductory NFT between March 7 and March 15.

The open-edition mints will include works by Elvis, Steve Morley, David Redfern, Don Paulsen, Richard Creamer, Peter Keegan, Fin Costello, Bruce Springsteen, David Bowie, Stevie Nicks, The Rolling Stones, Gladys Knight, Jimi Hendrix, James Brown, John Lennon, and AC/DC.

The collection, which will be available on Candy Digital’s website from March 21, will be released to buyers in the United States, United Kingdom, Canada, Australia, Germany, France, Japan, Spain, Hong Kong, and Portugal. The prices will range from $25 to $200.

Candy Digital’s activity has grown considerably buoyed partly by the traction of the Blur NFT marketplace which recently overtook OpenSea, causing OpenSea to implement limited-time 0% fees to try and win back some of the customers. The NFT market also seems to be regaining some life going by the trends of the recent NFT collection releases.

The post Candy Digital and Getty Images to release ’70s music and photos NFTs appeared first on CoinJournal.

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Shiba Inu Price Prediction: Murrey Math Lines

Shiba Inu price plunged to the lowest point since January 19 as demand for cryptocurrencies waned and the enthusiasm of the Shibarium launch fell. SHIB retreated to a low of $0.000010, which was much lower than the year-to-date high of $0.000015. This means it has fallen by more than 31% from its highest level this year.  In this article, we will focus on technical analysis in a bid to predict the next moves in Shiba Inu.

Shiba Inu price prediction

The ongoing SHIB price sell-off started when the coin surged to a high of $0.000015, which was the highest level on August 17. It reached this level on February 4. Since then, Shiba Inu has retreated below several important support levels. The most recent support point to break was $0.0000116, the lowest point on February 9. It was also the neckline of the head and shoulders pattern.

SHIB has moved below the 50-day and 100-day moving averages, signaling that bears are still in control. Now, turning on the Murrey Math Lines, we see that the coin has moved below the bottom of the trading range and is now above the strong pivot and reverse level. 

Therefore, with sellers gaining momentum, I suspect that the coin willl move to the next ultimate support level at $0.0000090, which is about 18% below the current level. The stop-loss of this trade will be at the key resistance level at $0.000012, the major S/R level. 

For starters, Murrey Math Lines are mathematical concepts that are based on the Gann theory. This theory states that prices tend to trend and retrace in 1/8th intervals. In this case, the 0/8, 4/8, and 8/8 levels are usually points of strong support and resistance.

SHIB chart by TradingView

SHIB price forecast 4H

On the 4H chart, we see that the SHIB/USD price has been in a strong bearish trend in the past few days. The coin is sitting slightly above the key support level at $0.000010, which was the lowest point this year. It is also hovering slightly above the weak stop and reverse level. Like in the daily chart, the SHIB/USD  remains below all moving averages.

Therefore, the coin will likely have a bearish breakout as sellers target the next key support level at the $0.000010, which is the ultimate support level. 

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Polygon price prediction: MATIC risks dip to $1 as bears pin Bitcoin under $22.5k

  • Polygon price faces a potential dump to lows of $0.94 if bears breach a major support area.
  • MATIC is currently below the 50 simple moving average and 4-hour RSI is below 50.
  • A downward flip for Bitcoin could impact MATIC movement.

Polygon price has seen an extended downward trajectory since the sell-off that hit the broader crypto market in late 2022.

A strong bounce in the first two months of the year has however hit tough terrain with price declines across the market contributing to MATIC reversing course, with a potential breakdown to lows of $1.00 likely if bears take further control of short term market sentiment. 

In particular, the outlook for Bitcoin suggests bears are not ready to give up territory around $22,500, a scenario that could see BTC dump and catalyse fresh losses across the market.

Polygon price forecast: Technical picture for MATIC above key support

MATIC continues to hover above $1.00, but looks constrained below the recent supported turned resistance zone around $1.15.

A slight upside early Tuesday indeed looks to have hit a supply zone near this price range, although with the 4-hour chart printing four successive green candles, the chances of bulls retesting resistance at $1.18 are there.

Notably, the Polygon community is awaiting the launch of the zkEVM mainnet beta, an event likely to trigger new buying momentum for the cryptocurrency towards the scheduled rollout on 27 March.

Polygon price on the 4-hour chart. Source: TradingView

If the $1.15 support holds, a new breakout could see bulls reclaim $1.18 as support. A pump above this level could push MATIC/USD to $1.25 and possibly the main hurdle around $1.29. However, the 200 MA is flat lining near $1.27 to offer the immediate resistance line.

Polygon price bearish picture

As highlighted above, MATIC price is currently trading below the 50 SMA and the 4-hour RSI is slightly sloped below 50 after bouncing off the bearish line.

On a further technical outlook, the MACD indicator recently flipped bullish, but Polygon’s price is facing major resistance near the 23.6% Fib retracement level of the move from the $1.30 swing high to the $1.10 low. 

If a breakdown happens, and bears gain the upper hand, MATIC could dump to support at 1.07 and then under $1.00 to $0.94.

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FLOKI price surges as trading on WazirX starts

  • WazirX is India’s largest crypto exchange.
  • FLOKI is scheduled to start trading on WazirX on March 7, 2023.
  • FLOKI has risen by about 11% today.

The biggest cryptocurrency exchange in India WazirX recently announced the listing of FLOKI. The exchange already started accepting FLOKI deposits and trading is slated to start today; something that has spurred some positive FLOKI price movement.

FLOKI’s listing received a lot of hype from the Floki community and the Floki team which in a tweet said that the listing positions FLOKI for massive growth in India

In follow-up tweets Floki said:

“Through our partnership with India cricket giant The India Maharajas, #Floki will be introduced to 700 MILLION+ cricket fans starting March 10th. India’s biggest and most recognized exchange, WazirX, will also list $FLOKI on March 7th. Just in time for the cricket game to start!

Both of these moves strategically position #Floki to become a force to reckon with in #India: the cricket partnership will introduce Floki to hundreds of millions of Indian users while the WazirX listing makes it very easy for interested users to get the $FLOKI token.”

Recent FLOKI developments

Despite trading 9.4% lower over the past seven days, FLOKI is trading 8.5% up in the last month.

Besides the WazirX listing, the past few days have seen several activities around FLOKI including a recent partnership with Maharaja, Legend League Criquet and the APAC and China announcements.

There is also the FLOKI perpetuals on the popular crypto derivatives exchange Bybit with up to 12.5x leverage which was enabled towards the end of February.

And today, in addition to the WazirX listing, there is also the enabling of FLOKI perpetuals on DigiFinex exchange with up to 100x leverage. DigiFinex has also listed a FLOKI/USDC pair.

Although FLOKI is yet to reclaim last week’s dip, traders expect that the recent developments will spur some price movements for the meme token.

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