Cryptocurrency Price Today: Dogecoin Continues To See Meltdown
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 November 4, Bitcoin price stood at $20,363.84, as per CoinMarketCap data. At the time of writing, the global crypto market cap stood at $1.01 trillion, registering a gain of 0.27 per cent 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 per cent on gains. A TDS of 1 per cent is 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.
Cryptocurrency Price Today: Bitcoin, Ethereum Remain Stable
Bitcoin (BTC) and Ethereum (ETH), the two most valued crypto coins in the world, managed to remain stable within the $20,000 and $1,500 range for nearly the entirety of this week. Dogecoin (DOGE), which rode Elon Musk’s Twitter takeover to see an over-100-per-cent growth in the past few days, emerged to be one of the biggest losers on Friday morning. Among lesser-known altcoins, the OKB token emerged to be the biggest gainer, with a 24-hour jump of over 20 per cent.
NFTs On Instagram: Meta To Test Ways To Let Users Buy And Sell Tokens
Meta has announced that it will test ways to buy and sell non-fungible tokens (NFTs) to fans and collectors both on and off Instagram. With the intention of shortly expanding to more nations, Meta is testing the new feature with "a small group of creators in the US". Users can buy digital collectibles of their favourite creators directly from Instagram to support them, the company said in a blog post.
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