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📰📰📰 Report: India's 1% TDS on Crypto Transactions Stifling Growth, Needs to be Cut to 0.01% 🗞️🗞️🗞️ A recent study by the #Blockchain and Crypto Assets Council (BACC) has found that India's 1% TDS on crypto transactions needs to be slashed to 0.01% in order to promote the growth of the crypto industry in the country. The study also found that the TDS is discouraging foreign investment in the Indian crypto market. The BACC study found that the 1% TDS is too high and is making it difficult for Indian crypto exchanges to compete with global exchanges. The study also found that the TDS is discouraging new investors from entering the Indian crypto market. The BACC recommended the Indian government slash the TDS on crypto transactions to 0.01%, matching lower rates in other countries and easing the growth of the Indian crypto industry. The Indian government is currently reviewing the TDS on crypto transactions. It is possible that the government will reduce the TDS rate in the upcoming budget. Here are some of the benefits of reducing the TDS on crypto transactions in India: - Promote the growth of the Indian crypto industry: A lower TDS rate would make it more attractive for Indian investors to invest in cryptocurrencies. It would also make it more attractive for global crypto exchanges to operate in India. - Increase government revenue: The Indian government could earn more revenue from crypto taxes if it reduces the TDS rate. This is because a lower TDS rate would encourage more people to invest in cryptocurrencies and pay taxes on their profits. - Reduce the burden on crypto exchanges: The 1% TDS is a burden on crypto exchanges, as they have to comply with additional regulations and pay higher fees. A lower TDS rate would reduce the burden on crypto exchanges and make them more competitive. Overall, reducing the TDS on crypto transactions would be a positive development for the Indian crypto industry and the Indian government. #CryptoNews #cryptocurrency #BinanceSquareTalks #BinanceFeatures

📰📰📰 Report: India's 1% TDS on Crypto Transactions Stifling Growth, Needs to be Cut to 0.01% 🗞️🗞️🗞️

A recent study by the #Blockchain and Crypto Assets Council (BACC) has found that India's 1% TDS on crypto transactions needs to be slashed to 0.01% in order to promote the growth of the crypto industry in the country. The study also found that the TDS is discouraging foreign investment in the Indian crypto market.

The BACC study found that the 1% TDS is too high and is making it difficult for Indian crypto exchanges to compete with global exchanges. The study also found that the TDS is discouraging new investors from entering the Indian crypto market.

The BACC recommended the Indian government slash the TDS on crypto transactions to 0.01%, matching lower rates in other countries and easing the growth of the Indian crypto industry.

The Indian government is currently reviewing the TDS on crypto transactions. It is possible that the government will reduce the TDS rate in the upcoming budget.

Here are some of the benefits of reducing the TDS on crypto transactions in India:

- Promote the growth of the Indian crypto industry: A lower TDS rate would make it more attractive for Indian investors to invest in cryptocurrencies. It would also make it more attractive for global crypto exchanges to operate in India.

- Increase government revenue: The Indian government could earn more revenue from crypto taxes if it reduces the TDS rate. This is because a lower TDS rate would encourage more people to invest in cryptocurrencies and pay taxes on their profits.

- Reduce the burden on crypto exchanges: The 1% TDS is a burden on crypto exchanges, as they have to comply with additional regulations and pay higher fees. A lower TDS rate would reduce the burden on crypto exchanges and make them more competitive.

Overall, reducing the TDS on crypto transactions would be a positive development for the Indian crypto industry and the Indian government.

#CryptoNews #cryptocurrency #BinanceSquareTalks #BinanceFeatures

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🔥🔥🔥 Here Are The 3 Crypto Tokens That Earned A Trader $42 Million Profit In One Year An anonymous crypto trader turned a $23 million portfolio into $65 million within a year, showcasing the potential for remarkable returns in #cryptocurrency trading. Leveraging strategic investments in tokens like PEPE, ONDO, and BEAM, the trader earned a $42 million profit, demonstrating astute moves in the volatile market. Maximizing Returns Through Strategic Investments - The trader's journey began with a strategic #Investment in PEPE, yielding a remarkable 1203% return. Initially investing 2,434 ETH ($5 million) to acquire 3.97 trillion PEPE, the trader sold 125 billion PEPE for 350 ETH ($1.27 million) at peak prices, with the remaining holdings valued at $56.43 million. - Diversifying their portfolio, the trader also invested in ONDO and BEAM. The investment in ONDO resulted in a $5.8 million profit with a 288% ROI, while BEAM provided a 72% ROI, contributing positively to the portfolio despite offering the least returns among the three. Performance Overview of the Tokens 1. #PEPE emerged as the leading performer, reaching new all-time highs with a surge of over 40% in the last week. Despite a recent 6.8% dip, PEPE remains a strong asset, currently trading at $0.0000151. 2. #ONDO marked a new all-time high at $1.15 before retracting by 2.7%, with its current price at $1.20. This represents a substantial 15.8% increase within a day, cementing a week-long upward trend. 3. #BEAM showed more modest gains, with increases of 1.5% and 7.9% over the past day and week, respectively. Currently trading at $0.02886, BEAM experienced a significant drop from its early May high of $0.04416, indicating less volatility compared to its counterparts. Conclusion: Emphasizing Strategic Investments and Market Analysis This success story shows the potential for significant returns in cryptocurrency trading through strategic investments and market timing. Diversification and careful analysis can lead to remarkable profits in the volatile crypto market. Source - newsbtc.com
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💥💥💥 #bitcoincash (BCH) Price Reclaim $600 after #EthereumETF Approval? Bitcoin Cash (BCH) saw a 5% rebound to reclaim $490 on May 24, with recent whale activity suggesting further upside potential. Ethereum ETF Sell-the-News Triggers BCH Volatility - After the SEC approved the Ethereum ETF on May 23, Bitcoin Cash dropped 11% to a weekly low of $472 before rebounding 5% to $490 by Friday evening. This volatility is due to a "sell-the-news" reaction from swing traders & short-term investors. BCH Price Action After Ethereum ETF Approval - The "sell-the-news" strategy, where investors sell off holdings at the peak of bullish news to secure early profits, seemed to play out in the BCH market. After the Ethereum ETF approval, BCH prices plummeted 11% but quickly rebounded. Whale Investors Boost BCH Holdings - On-chain data shows that despite a sell-off by swing traders and retail investors, whale investors remained bullish. Santiment data reveals that wallets holding at least 1,000 BCH increased their holdings by 10,000 BCH to a total of 11.93 million BCH since May 20. - At the current price of $496 per coin, BCH whales have invested approximately $5.2 million. Large whale purchases typically create bullish pressure by reducing market supply & boosting confidence in the asset's future performance. BCH Price Forecast: Targeting $600 - Following a recent rebound, Bitcoin Cash seems poised to move toward $600, especially if whale buying continues to counteract swing trader selling. The Parabolic SAR indicator supports this bullish outlook, with SAR dots indicating strong support at $454, well below the current price of $493. - However, BCH faces short-term resistance at $530. Breaking through this level could attract more buyers, potentially pushing the price toward the $600 target. In summary, Bitcoin Cash's recent price movements, coupled with significant whale activity, indicate potential for further gains, especially if the buying trend continues & resistance at $530 is overcome. Source - thecryptobasic.com #CryptoNews🔒📰🚫 #BinanceSquareTalks
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🚀🚀🚀 #Celsius (CEL) price up 145% as sentiments improve on amplified #whale actions  Celsius (CEL) led the crypto gainers with a remarkable surge over the past day, jumping nearly 145% to hover at $1.30 at the time of writing. Celsius’ 145% Surge - Celsius outperformed the broader #CryptoMarket , which was showing signs of recovery. This surge was fueled by massive trading volumes and heightened whale activity. Celsius saw its trading volume soar 1,300% in the past day, reaching $10.35 million. - This impressive daily performance outpaced top digital assets like Bitcoin and Ethereum, which saw gains of 1.55% and 0.21%, respectively. Community Reacts to CEL’s Surge - The 30-day inflows for Celsius indicate an upward trend, but the sudden 140% upswing in a single day caught many by surprise. Some market participants have labeled CEL’s explosive rise as a pump-and-dump move. Such sudden surges in the crypto world often lead to sharp declines. - Additionally, it appears that a single whale may be behind CEL’s current movements, making the altcoin susceptible to significant fluctuations. - It remains to be seen whether Celsius will maintain its current highs. Source - invezz.com #CryptoTrends2024 #BinanceSquareTalks
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We asked #chatgpt -4o what will be $ETH price when first #EthereumETF is listed; Here’s what it said While Ethereum (ETH) has performed well in the 2024 cryptocurrency bull market, it has struggled to reclaim its all-time highs (ATH), unlike many other coins, including Bitcoin ($BTC ). Currently priced at $3,660.17 with a 65.58% year-to-date (YTD) rise, Ethereum has faced strong resistance around $3,800 and failed to sustain a valuation above it despite multiple attempts. However, the approval of spot exchange-traded funds (ETFs) announced on May 23 is expected to bring a new wave of institutional and retail investors to Ethereum, potentially changing its trajectory. Consulting ChatGPT-4o, Finbold predicts Ethereum's price could skyrocket to $4,750 once the first ETH ETFs are listed. This optimistic outlook factors in the expected influx of investors and improved market sentiment towards Ethereum post-ETF approval. ChatGPT also considers other ETH-specific factors, such as market dynamics following the 'merge,' in arriving at the $4,750 price target. However, ChatGPT acknowledges that this prediction is not the only possible outcome. If ETH ETFs lead to greater inflows than anticipated and ETH maintains a price above $4,000, the cryptocurrency could surge even higher to $5,000. Conversely, if excessive profit-taking occurs post-listing, similar to the BTC ETF approval in January, Ethereum's price might experience a temporary dip. Source - finbold.com #CryptoTrends2024 #BinanceSquareTalks
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🔥🔥🔥 #bitcoin dominance risks breaking 18-month uptrend on Ether #ETF✅ launch Traders anticipate Ethereum ETFs could trigger a fresh "altseason," as Bitcoin loses market dominance post two-year highs. Bitcoin (BTC) fell to $67,365 and Ether (ETH) to $3,685, down 3.5% on May 24, following underwhelming market response to the approval of spot Ether exchange-traded funds (ETFs) by U.S. regulators. Despite this significant milestone for the crypto industry, both BTC and ETH showed muted reactions, hovering near $67,000 and $3,670 respectively. The ETFs, while approved, were not immediately ready for trading, with analysts suggesting preparations could delay the launch for several weeks, possibly until mid-June. Market observers focused on the interplay between the top two cryptocurrencies. Traders like Daan Crypto Trades noted the potential for Bitcoin's market share to face challenges once Ethereum ETFs are launched, potentially reversing the dominance trend that had been in place for about 1.5 years. The possibility of a broader "altseason" was also discussed among traders, as Bitcoin dominance had peaked at 57% in mid-April, just before its block subsidy halving, marking the highest levels in over two years. In terms of technical analysis, traders like Skew identified a key support zone around $66,000 for Bitcoin, where bid liquidity on major exchanges like Binance was concentrated. The reaction of BTC's price in this area would provide insights into the absorption of selling pressure, with spot supply remaining high between $72,000 and $76,000. Notably, the recent price surge in Bitcoin had been driven by spot exchanges, particularly platforms like #Binance and Coinbase, as highlighted by market analysis. Source - cointelegraph.com #CryptoTrends2024 #BinanceSquareTalks
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