Cryptocurrency News Live: Bitcoin, Ethereum Fail To Gain Steam
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 October 13, Bitcoin price stood at $19,090.13, as per CoinMarketCap data. At the time of writing, the global crypto market cap stood at $914.77 billion, registering a gain of 0.03 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 this year, VDAs attract taxation of 30 percent on gains. A TDS of 1 percent 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.
October Is Now 'Biggest Month In Biggest Year' For Crypto Hacks: Chainalysis
As per New York City-headquartered blockchain analysis firm Chainalysis, October has now become the “biggest month” and 2022 is the “biggest year ever” for hacking attacks. In a Twitter thread on October 13, Chainalysis noted that bad actors have already stolen $718 million from DeFi protocols via 11 separate hacks so far in October. In 2022, the highest number of hacks was seen in the month of March, with over 15 instances. So far this year, hackers have grossed over $3 billion across 125 hacks.
Cryptocurrency Price Today: Huobi Token Becomes Top Gainer
Bitcoin (BTC), the oldest and most-valued crypto coin, failed to pick up steam and dwelled within the $19,000 range on early Thursday morning. Ethereum (ETH) managed to rise above the $1,300 mark late on October 12 but slipped back to the $1,200 range yet again. Most popular altcoins — including the likes of Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) — landed in the reds across the board. Among lesser-known altcoins, Huobi Token (HT) emerged to be the biggest gainer in the past 24 hours. Interestingly, TerraClassicUSD (USTC), the coin that remained the biggest gainer over the past two days, emerged to be the biggest loser on October 13.
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