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Global crypto exchange Binance has received a goods and services tax (GST) bill of Rs 722 crore ($87 million) in India for non-compliance with the country’s tax regulations. This is the first instance of a cryptocurrency firm facing such scrutiny in India. A source claimed that Binance earned over Rs 4,000 crore from transaction fees … Read more
Jacob King, a financial analyst at Whalewire, has stated that he doesn’t consider bitcoin a hedge “against anything.” King stressed that “crypto itself was entirely propped up by stable coin fraud. I warned it would crumble like paper when it starts.” Bitcoin fell under $50,000 on August 5th, as the Japanese stock market also took … Read more
A recent report by Coinwire, a cryptocurrency research portal, predicts that cryptocurrency adoption levels in Latam will more than double in 2024. The report, which examined trading movements on trusted centralized exchanges according to Coingecko, forecasts that crypto trading volumes in the region will reach $7.82 trillion in 2024, with Brazil and Chile being the … Read more
This morning, USDB, the stablecoin launched by Blast, experienced significant volatility, dropping over 5% to a low of $0.9421 before rebounding to approximately $0.9945. USDB Drama: Lessons from the Depeg USDB, the stablecoin launched by Blast, took a dive this morning, slipping over 5% to $0.9421 before bouncing back to around $0.9945. For those holding … Read more
$ENA is currently facing a challenging period, approaching the crucial $0.20 support level amidst persistent bearish trends. The situation looks particularly dire for one significant investor, Whale 0x118d5, who might incur substantial losses if they decide to sell now. The wallet 0x118d5 (icrypto.ai/wallet/0x11d85…) gradually withdrew 4.09 million $ENA from Binance around four months ago and … Read more
The Uniswap team has made significant deposits to Coinbase, recently adding 1.13 million UNI tokens worth $7.47 million. This follows a deposit of 1.19 million UNI ($9.11 million) just seven days earlier. Since July 4, 2024, the team has deposited a total of 8.3 million UNI tokens, valued at $65.95 million, with an average price … Read more
Memecoin ($MEME) continues to be one of the weakest crypto assets, a trend that becomes especially apparent on days like today. An early pre-sale investor recently deposited 127.5 million $MEME, valued at $1.55 million, to Binance just an hour ago, earning a staggering $1.41 million profit. A Memecoin pre-sale investor deposited 127.5M $MEME($1.55M) to #Binance … Read more
In July 2024, TRON experienced significant growth across multiple metrics, showcasing its continued dominance in the blockchain space. Fees and revenue saw a 12.1% increase, while TRX market data indicated positive trends. The network recorded over 212 million transactions and welcomed 6.7 million new addresses, underscoring TRON’s robust user engagement. TRON Income Statement For July, … Read more
The GMT fund-raising address has made a notable move after a four-month hiatus. Between March 25 and March 29, this address transferred $74.71 million worth of GMT from Binance, representing 11.63% of the total circulating tokens at that time. This action propelled the coin’s price up by 34%, from $0.2989 to $0.4006, marking its highest … Read more
The chief investment officer at asset management firm Bitwise has addressed the current market downturn, drawing parallels with the market crash on March 12, 2020, when the Covid-19 pandemic caused global panic. “People smash the sell button for liquid assets during broad-based panics. But from my seat, today’s events play into the long-term story for … Read more