Cryptocurrency News Live: Bitcoin Shows Signs Of Recovery
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 5, Bitcoin price stood at $20,213.75, as per CoinMarketCap data. At the time of writing, the global crypto market cap stood at $964.15 billion, registering a gain of 2.15 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.
Global Crypto Losses Reach $428 Million In Q3 2022
The world saw crypto losses up to $428 million in the third quarter (Q3), down 36 per cent from Q2, from hacks and frauds, a new report has shown. An analysis of the crypto losses by bug bounty platform Immunefi found that fraud accounts for only 7 per cent of the total losses in Q3 2022, while hacks account for 93 per cent.
Cryptocurrency Price Today: Bitcoin Breaches $20,000 Mark For The First Time In October
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, managed to rise above the $20,000 mark for the first time this month. Ethereum (ETH), on the other hand, appears to remain stable within the $1,300 range. Dogecoin (DOGE) saw a 24-hour jump of nearly 8 percent, becoming the third-biggest gainer among all crypto coins. The Convex Finance (CVX) token emerged to be the biggest gainer of the day, while the Reserve Rights (RSR) token became the biggest loser in the last 24 hours.
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