A source privy to Business Today said that the central government may introduce a ‘reverse charge’ tax mechanism for Indians who are using foreign crypto exchanges to transact.
Click here to read more about the impact of the crypto tax on domestic crypto exchanges.
Meanwhile, the global crypto market capitalisation went up by 1.02 per cent to $1.3 trillion as of 8.50 pm. The global crypto trading volume was down by 11.16 per cent to $77.67 billion as per Coinmarketcap data.
Cryptocurrency Prices
Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $29,965.11, lower by 0.55 per cent in the last 24 hours. Ethereum (ETH) was, however, up by 0.01 per cent to $2,068.49.
9/ All assets will be returned to wallets tagged in https://t.co/PoDWOBJ1Rg shortly – the $LUNA previously staked is unbonding, and will be returned in 20 days.
— LFG | Luna Foundation Guard (@LFG_org) May 16, 2022
Among other significant coins, Cardano (ADA) was down by 0.03 per cent at $0.5667, Algorand (ALGO) was trading with a gain of 0.9 per cent at $0.4808, Solana (SOL) was trading with a gain of 2.59 per cent at $56.43, Polkadot (DOT) was down by 1.29 per cent at $10.72 and Binance Coin (BNB) was up by 0.21 per cent at $303.81.
Today’s top gainer was MetaPay (METAPAY), which was up by 1830.49 per cent at $0.000009956. The top loser was PAPPAY (PAPPAY), which was down by 81.61 at $0.0000002019
Meme Coin And DeFi Prices
Dogecoin (DOGE) was down by 0.16 per cent at $0.08933. Its volume to market cap ratio stands at 0.04397. Rival Shiba Inu (SHIB) was down by 0.14 per cent at $0.00001239.
Dogelon Mars (ELON) gained 0.92 per cent to trade at $0.0000005109, Floki Inu (FLOKI) jumped by 25.49 per cent at $0.00001034 and Samoyed Coin (SAMO) 1.99 per cent at $0.006125.
In the DeFi segment, YFI (yearn.finance) was up by 0.66 per cent at $10,073.51, and Terra (LUNA) was trading with a loss of 0.71 per cent at $0.0001846. Avalanche (AVAX) was down by 1.28 per cent at $33.52, Uniswap (UNI) was trading with a gain of 3.69 per cent at $5.37 and Aave (AAVE) by 3.52 per cent at $91.81.
Click here to read more about how DAOs like Uniswap, Aave and others work.
Latest News
Swedish music streaming company Spotify begins testing non-fungible token (NFT) gallery on music artist’s profile page in the US. “Spotify is running a test in which it will help a small group of artists promote their existing third-party NFT offerings via their artist profiles. We routinely conduct a number of tests in an effort to improve artist and fan experiences,” said Spotify in a statement, exclusively reported by Musically.com.
Click here to read more about how Spotify entered the metaverse world.
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