Cryptocurrency News Live: Bitcoin, Ethereum Manage To Remain Steady

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 6, Bitcoin price stood at $20,365.04, as per CoinMarketCap data. At the time of writing, the global crypto market cap stood at $972.75 billion, registering a gain of 0.88 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.

13:28 PM (IST)  •  06 Oct 2022

More Than Half Of Daily Bitcoin Volume On Crypto Exchanges Are Fake: Report

More than 51 percent of the total Bitcoin trading volume on various crypto exchanges this year is fake amid volatile global economic conditions, a new report has claimed. Bitcoin is the blue chip of cryptocurrency and represents 40 percent of the total crypto assets outstanding in the new and volatile crypto markets. Its market cap is currently at $382.25 billion. According to data provided by niche news publisher BanklessTimes.com, the majority of this fake Bitcoin volume is due to wash trading.

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10:02 AM (IST)  •  06 Oct 2022

Cryptocurrency Price Today: ENS Becomes Top Gainer

Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, managed to remain above the $20,000 mark on early Thursday morning, as most other popular altcoins landed in the greens. Crypto coins such Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), and Ripple (XRP) all saw minor gains across the board. Among lesser-known altcoins, the Ethereum Name Service (ENS) token emerged to be the biggest gainer in the last 24 hours, while XDC Network (XDC) turned out to be the biggest loser.

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