Cryptocurrency News Live: Litecoin Suffer Loss, Most Other Popular Coins Register Minor Gains

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 December 7, Bitcoin price stood at $16,784.42, as per CoinMarketCap data. At the time of writing, the global crypto market cap stood at $838.51 billion, registering a loss of 1.78 percent in the last 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, 2022, VDAs attract taxation of 30 percent on gains. A TDS of 1 percent is applied on top of that. 

13:38 PM (IST)  •  07 Dec 2022

Most Popular Coins Register Minor Gains As Dogecoin, Litecoin Report Losses

Bitcoin (BTC) and Ethereum (ETH) — two of the most valued crypto coins — managed to rise above the $16,000 and $1,200 marks, respectively, on early Wednesday morning. Other popular altcoins — including the likes of Dogecoin (DOGE), Litecoin (LTC), and Solana (SOL) — landed in the reds as overall prices saw minor losses across the board. The Trust Wallet Token (TWT) token emerged to be the biggest gainer, seeing a 24-hour jump of over 15.56 percent. Kava (KAVA), on the other hand, turned out to be the biggest loser. 

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