Cryptocurrency News Live: ETH, DOGE, Other Popular Coins Take A Minor Hit

Cryptocurrency News Live: Follow this page for the latest updates on major cryptocurrency and NFT news from India and around the world.

Background

Cryptocurrency still remains a mystical subject for many keen investors in India. While cryptos are slowly gaining recognition from investors and regulators alike, with countries and leading brands adopting it as an official tender, there are still a sizeable number of people who wish to invest in crypto, but aren't able to closely track breaking and developing news in the sector, which will help them take note of price movements, major sell-offs, and announcements of new blockchain-based developments. 

This live news blog is here to help. From major market losses to noteworthy declarations, follow this live blog to stay updated with all the latest happenings in the world of crypto.

While there are many cryptocurrencies to explore, Bitcoin (BTC) is the most popular as it is the world's oldest and most valued crypto coin. As of August 1, Bitcoin price stood at $23,408.71, as per CoinMarketCap data. At the time of writing, the global crypto market cap stood at $1.09 trillion, registering a loss of 0.88 percent in the past 24 hours. 

While cryptocurrency is unregulated in India, cryptocurrencies are clubbed under virtual digital assets (VDAs). Under the new tax regime that went into effect on April 1 this year, VDAs attract taxation of 30 percent on gains. A TDS of 1 percent will be applied on top of that. 

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.

14:46 PM (IST)  •  01 Aug 2022

Bitcoin Valley: The Newest Tourist Attraction In Honduras Will Let You Pay For Drinks With Crypto

Honduras has come up with the “Bitcoin Valley” project. Located in the tourist enclave of Santa Lucia, Bitcoin Valley will let visitors pay for services and products, like a glass of slushie for example, from local businesses with crypto coins. 

Click here to read the full story.

10:39 AM (IST)  •  01 Aug 2022

Cryptocurrency Price Today: Bitcoin Manages To Remain Above $23,000

Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, managed to remain above the $23,000 mark as the first week of August kicks off. As the global crypto market lost the $1.10 trillion mark that it gained last week, most of the popular altcoins, such as Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), and Ripple (XRP) registered losses across the board over the past 24 hours. On the other hand, among lesser-known crypto coins, the Filecoin (FIL) token emerged as the biggest gainer over the past 24 hours, while Bitcoin Gold (BTG) turned out to be the biggest loser.

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