Crypto Market Highlights: Exchanges News
- FTX launches fully registered and licensed Australian operations. FTX Australia will be headquartered in Sydney, the financial centre of Australia. The Company holds an Australian Financial Services Licence and acts as the issuer of the OTC derivatives including options contract, futures contract, contract for difference (CFDs) with the underlying digital/crypto assets, and leveraged tokens. FTX is a cryptocurrency exchange built by traders, for traders. It offers innovative products, including industry-leading derivatives, options and volatility products, tokenized stocks, prediction markets, leveraged tokens and an OTC desk. FTX strives to be an intuitive yet powerful platform for all kinds of users and to be the most innovative exchange in the industry.
Crypto Market Highlights: NFT News
- Yuga Labs announced its new Bored Ape Yacht Club (BAYC) metaverse with a short clip and the caption, “See you on the Otherside in April. Powered by @apecoin.” The trailer begins with a BAYC Ape fishing. He feels a tug on his bait, lifts his catch, and discovers it is a bottle branded “DRINK ME.” The ape follows and after ‘badtrips’ happen then he finds himself got caught by a flying small creature. Other NFT collections mentioned in the video include Mutant Ape Yacht Club, Cool Cats, CryptoPunks, CrypToadz, Meebits, Nouns, and World of Women. Given what a week the BAYC franchise has had, this teaser is an interesting addition to all the hype and curiosity about where Yuga Labs intends to take BAYC next.
- Between March 5th and March 11th, 14 new Ethereum (ETH) addresses were identified for buying 159 Meebits. These purchases were noteworthy since they were made just days before Yuga Labs announced the acquisition of the Meebit Collection of NFTs on March 12th. As a result, the purchasing of 159 Meebits before a major announcement shows all the signs of insider trading in the perspective of traditional finance. However, by excluding the universal morality of right and evil, no crime was committed during the Meebit transactions.
Crypto Market Highlights: Government News
- According to JB Mohapatra, head of the Central Board of Direct Taxes (CBDT), bitcoin and virtual asset earnings in India will be taxed at 30% starting April 1. However, the implementation of the 1% tax deducted at source (TDS) is pushed back to July 1, Mohapatra said. “Today’s income tax collection of Rs 13.63 lakh crore is expected to rise further till March 30. Our gross & net collections in the last five years and the history of the tax department are optimal. Our gross numbers have crossed Rs 15 lakh, which we could never touch earlier,” he stated. The CBDT chief made the state as he explained that the government net tax collections rose 48.4% annually to Rs 13.63 lakh crore, the highest volume since 2018-19.
- President Nayib Bukele of El Salvador is a technoid millennial who has long advocated for increasing the acceptance of digital currency. However, it appears as though this decision was primarily a blunder since the country’s move to adopt cryptocurrency as legal tender is already backfiring. According to a new poll conducted by El Salvador’s chamber of commerce, the majority of the country’s businesses do not use Bitcoin – an astonishing finding given Bukele’s efforts to promote Bitcoin usage. The survey shows that only 14% of respondents have used BTC in transactions since September when the cryptocurrency became legal tender in El Salvador. Additionally, the poll reveals that a sizable proportion of respondents have not observed any impact on their sales as a result of adoption.
Crypto Market Highlights: Ethereum News
- The number one smart contract network, according to statistics from ultrasound.money, burnt 2 million ETH today. Since Ethereum’s London hardfork in August 2021, the total ETH supply has been under deflationary pressure as a result of a fee burning proposal known as EIP-1559. EIP-1559, perhaps Ethereum’s most popular upgrade to date, included a system that burns a portion of the gas fee with each Ethereum transaction.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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