Bitcoin and Ethereum, two of the largest cryptocurrencies on the planet have witnessed a major dip in worth. As of writing this text, the worth of 1 bitcoin is $27,547.19 and the worth of 1 ether is $1,463.15, in keeping with Coingecko. Additionally Learn – Epic Games CEO warns against Fortnite cryptocurrency scam: Here’s what he said
Whereas Bitcoin has witnessed a dip of 6.1 p.c previously 24 hours, Ethereum has reported a major drop of 12.7 p.c. Prior to now seven days, Bitcoin has dropped by 7.8 p.c and Ethereum is down by 18.9 p.c. Additionally Learn – India ready with consultation paper on cryptocurrencies: Economic Affairs Secretary
In keeping with the dip of the 2 greatest cryptocurrencies, the general market cap can also be down considerably. The worldwide cryptocurrency market cap right this moment is $1.15 trillion. There’s a dip of seven.8 p.c within the final 24 hours alone. Additionally Learn – Cryptocurrencies are worth nothing and should be regulated to protect people: European Central Bank Chief
Complete cryptocurrency buying and selling quantity within the final day is at $82.2 Billion. Bitcoin dominance is at 45.6% and Ethereum dominance is at 15.4%.
The crypto market has been shifting sideways since early this 12 months and Bitcoin not too long ago fell beneath the Rs 30,000 mark. The Indian govt, in the course of the finances this 12 months, introduced new methods during which the crypto ecosystem will probably be tracked and taxed. One such methodology is by charging a 1 p.c TDS (Tax deducted at Supply).
Not too long ago, there was an error within the Earnings Tax Division’s web site which up to date the tax deductible at supply on digital digital belongings stays at 0.1 p.c as a substitute of 1 p.c. The earnings tax division later supplied clarification concerning the identical claiming that the TDS fee for digital digital belongings stay the identical at 0.1.
