Cryptocurrency News Live: Ripple Becomes Biggest Gainer

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 September 21, Bitcoin price stood at $19,008.58, as per CoinMarketCap data. At the time of writing, the global crypto market cap stood at $926.52 billion, registering a dip of 0.87 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.

11:30 AM (IST)  •  21 Sep 2022

Cryptocurrency Price Today: Bitcoin Lingers At Around $19,000

Bitcoin (BTC), the world’s oldest and most valued crypto coin, appears to be stable within the $19,000 range on early Wednesday morning, while Ethereum (ETH) continues its bear run, dwelling within the $1,300 range. Other popular altcoins, including the likes of Dogecoin (DOGE) and Litecoin (LTC), managed to land in the greens on September 21. Ripple (XRP), on the other hand, emerged to be the biggest gainer in the last 24 hours. Among lesser-known coins, the Chiliz (CHZ) token saw the biggest dip. 

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11:30 AM (IST)  •  21 Sep 2022

How Does Crypto Get Affected By Recession?

A recession would form a poor macro environment for global markets, especially for cryptocurrencies. In terms of human capital, recession can also impact the crypto market. With crypto adoption increasing, more projects will open great job opportunities within the space. In times of recession, if a crypto organisation plans to cut costs, it may result in widespread layoffs. 

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11:28 AM (IST)  •  21 Sep 2022

DeFi Market Maker Wintermute Loses $160 Million In Hacking

Leading cryptocurrency market maker Wintermute has lost $160 million in a hacking attack on its decentralised finance (DeFi) operation, the company's CEO said. In a tweet, the company's founder and CEO Evgeny Gaevoy said that they have been hacked for about $160 million in their DeFi operations.

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