India's Income Tax Appellate Tribunal has ruled that profits from crypto sales before the 2022 VDA tax regime are treated as capital gains, with long-term holdings benefiting from lower tax rates and deductions, while post-2022, all crypto gains are taxed at a flat 30% rate.

This decision resolves the ambiguity around crypto taxation, classifying cryptocurrencies, including Bitcoin, as capital assets, thus reducing the tax burden for early adopters.

Bitcoin Exchange Reserves YTD Comparison

Since the beginning of the year, Binance and Gemini have shown increases in their BTC reserves. While most СEXs are seeing declining reserves as a natural trend during periods of rising Bitcoin prices and increased market activity, Kraken and Bybit have experienced substantial decreases in their BTC holdings.

Bull Market Confirmed 🚨

The first time RSI crosses 70 on the 2-week chart marked the start of the Bull Market in the last 3 cycles.

This just happened for the 4th time in Bitcoin history.

Robinhood announced it will now offer contracts for betting on the 2024 U.S. presidential election outcome, allowing U.S. users to trade on the results between Kamala Harris and Donald Trump.

This move builds on rising interest in event-based derivatives, and the rollout begins today for select U.S. users, with Robinhood aiming to expand beyond commission-free trading.

Short-Term Predictions: According to CoinCodex, the price of Scroll (SCR) is expected to rise significantly in the short term. For example, by November 8, 2024, the price could increase by 230.05% to reach approximately $9.141.Long-Term Predictions: Looking further ahead, the price predictions for 2030 suggest that Scroll could range between $7.08 and $11.48. This represents a potential gain of up to 342.04% from its current price1.These predictions are based on technical analysis and market sentiment, but it’s always a good idea to do your own research and consider multiple sources before making any investment decisions.Are you considering investing in Scroll, or are you just curious about its potential?

Here are a few new and emerging crypto projects worth exploring:

1. **Aptos (APT)**: A layer-1 blockchain focusing on scalability and security, designed for DeFi and NFTs.

2. **Sui (SUI)**: Another layer-1 blockchain emphasizing high throughput and user-friendly applications.

3. **Arbitrum (ARB)**: A leading Layer 2 scaling solution for Ethereum that enhances transaction speed and reduces costs.

4. **Optimism (OP)**: Focuses on improving Ethereum's scalability with optimistic rollups.

5. **Worldcoin (WLD)**: A unique project aiming to create a global identity and financial network using biometric data.

Make sure to conduct thorough research and assess the fundamentals of each project before investing.

Here are some interesting facts about crypto you might not know

1. Bitcoin is the First Cryptocurrency: Created in 2009 by an anonymous person or group of people using the pseudonym Satoshi Nakamoto, Bitcoin was the first decentralized cryptocurrency.
2. Limited Supply: Bitcoin has a maximum supply of 21 million coins, making it a deflationary asset. This cap is expected to be reached around the year 2140.
3. Blockchain Technology: Cryptocurrencies operate on blockchain technology, a decentralized ledger that records all transactions across a network of computers. This technology ensures transparency and security.
4. Volatility: Cryptocurrencies are known for their price volatility. Bitcoin, for instance, has seen dramatic price swings, reaching an all-time high of nearly $69,000 in November 2021 before dropping significantly.
5. Altcoins: Besides Bitcoin, there are thousands of other cryptocurrencies, commonly referred to as altcoins. Notable examples include Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and Cardano (ADA).
6. Smart Contracts: Ethereum introduced the concept of smart contracts, which are self-executing contracts with the terms of the agreement directly written into code. This innovation has paved the way for decentralized applications (DApps) and decentralized finance (DeFi).
7. Mining: Cryptocurrencies like Bitcoin are created through a process called mining, where powerful computers solve complex mathematical problems. This process verifies transactions and adds them to the blockchain.
8. Energy Consumption: Cryptocurrency mining, particularly Bitcoin mining, consumes a significant amount of energy. Some estimates suggest Bitcoin’s annual energy consumption is comparable to that of entire countries.
9. Regulation: The regulatory environment for cryptocurrencies varies widely by country. Some nations embrace them, while others have imposed strict regulations or outright bans.
10. Adoption by Major Companies: Increasingly, major companies and financial institutions are adopting cryptocurrencies.

The **DOGS** cryptocurrency, a memecoin launched on the Telegram platform, has been generating a lot of buzz. It officially started trading on August 23, 2024². The project is community-driven, with a significant portion of the tokens distributed to early users and community members².

For price predictions, sources like CoinCodex suggest that the price of DOGS could see various fluctuations in the coming years. However, it's important to note that cryptocurrency markets are highly volatile and predictions can change rapidly¹.

Are you considering investing in DOGS, or are you just curious about its future?

Source: Conversation with Copilot, 8/25/2024
(1) DOGS trading launch scheduled for August 23, here's ... - Cryptopolitan. https://www.cryptopolitan.com/dogs-trading-launch-scheduled-august/.
(2) DOGS (DOGS) Price Prediction 2024, 2025–2030 | CoinCodex. https://coincodex.com/crypto/dogs/price-prediction/.
(3) Dogwifhat (WIF) Price Prediction 2024, 2025, 2026, 2030 - Crypto News. https://cryptonews.com/price-predictions/dogwifhat-price-prediction/.
(4) Dogecoin Price Prediction Up to $0.84 | DOGE Forecast | DigitalCoinPrice. https://digitalcoinprice.com/forecast/dogecoin.
(5) Dogecoin (DOGE) Price Prediction 2024, 2025, 2026, 2027, 2030 - Benzinga. https://www.benzinga.com/money/dogecoin-doge-price-prediction.
(6) Dog•Go•To•The•Moon Price Prediction: Will DOG ... - Cryptopolitan. https://www.cryptopolitan.com/doggotothemoon-price-prediction/.

Germany's financial regulator, BaFin, seized 13 unregistered crypto ATMs without permits across 35 locations due to concerns over illegal operations and insufficient KYC measures.

BaFin says they have already seized almost $28m in cash as part of a nationwide operation targeting crypto ATMs.

CoinATMRadar data shows that there are 176 crypto ATMs/tellers in Germany.

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Tether CEO Paolo Ardoino warned that the EU's MiCA regulation could create systemic risks for stablecoins and banks, particularly due to the requirement for holding 60% of reserves in EU banks.

He cited the 2023 Silicon Valley Bank collapse as a cautionary example.

Donald Trump Jr. has hinted at a new blockchain project being planned by the Trump family, describing it as "much bigger" than simply launching another memecoin.

He emphasized that they are discussing a "very different kind of platform." Trump Jr. also dismissed longstanding rumors of a Trump family-linked memecoin, which have gained traction due to the former president’s recent pro-crypto stance.

Recently, the RTR token, which was promoted under the disguise of Trump's official memecoin, plummeted 90%, losing $140m in capitalization.

Crypto Speak: TPS

In the fast-paced world of cryptocurrencies, speed matters! Transactions Per Second (TPS) measures a blockchain network's ability to process transactions quickly, making it a crucial metric for scalability and efficiency.

For instance, Bitcoin can handle only 3-7 transactions per second due to its Proof of Work consensus mechanism. In contrast, Ethereum processes 15-30 transactions per second using Proof of Stake. Newer blockchain platforms like Ripple boast even higher TPS rates.

Improving TPS is a top priority for developers as it directly impacts network performance, fees, and adoption. Strategies to enhance transaction speeds include optimizing network performance, implementing layer 2 scaling solutions, and exploring new consensus mechanisms. As the crypto space continues to evolve, the race for TPS is on!

📈Crypto Room

Russian authorities are considering legalizing stablecoins for international transactions to ease cross-border payments amid sanctions.

This move is seen as beneficial for transactions with BRICS countries and aims to bypass traditional payment systems like SWIFT amidst Western sanctions.

Kazakhstan’s Astana Financial Services Authority (AFSA) has approved Toncoin for trading on its licensed platforms.

This approval allows investors to trade Toncoin within a reliable regulatory framework, ensuring investor protection.

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Coinbase is drawing attention to the SEC’s inconsistent statements over the years regarding cryptocurrency regulations.

In 2018, the SEC said digital assets aren’t securities, but in 2021 and 2024, they claimed they are.

In 2021, the SEC initially said no market regulator for crypto exchanges existed, but a year after they said that Congress provided a broad framework.

The SEC said the existing laws were unclear, admitting uncertainty about digital assets being securities in 2020. But in 2023, they said there is a clear regulatory framework built up over 90 years.

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Digital asset investment products experienced significant outflows for the second consecutive week, totaling $584m:

⚫️Bitcoin saw $630m in outflows, but short positions also decreased by $1.2m
⚫️Ethereum faced $58m in outflows, reflecting negative sentiment
⚫️Multi-asset products had $98m in inflows, indicating investor interest in altcoins
⚫️The US led with $475m in outflows, while Switzerland and Brazil saw inflows of $39m and $48.5m, respectively

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The price of ION has been quite volatile recently. Over the past week, it experienced fluctuations, ranging from a low of approximately 190.12USD
to a high of around 230.45USD
. Keep in mind that cryptocurrency prices can be highly unpredictable, so it’s essential to stay informed and exercise caution when investing. If you have any more questions or need further assistance, feel free to ask! 😊

Certainly! Let’s take a look at the current state of the cryptocurrency market. As of today:

Bitcoin (BTC) is priced at approximately $61,999.95, with a 24-hour change of 2.84% and a market cap of $1.22 trillion1.
Ethereum (ETH) is trading around $3,402.88, with a 24-hour change of 1.88% and a market cap of $408.78 billion1.
Tether (USDT), a stablecoin, maintains its value at $0.9999 with minimal fluctuations1.
Solana (SOL) stands at $137.68, showing a 24-hour gain of 4.26% and a market cap of $63.64 billion1.
Remember that cryptocurrency prices can be highly volatile, so it’s essential to stay informed and make informed decisions. If you’d like more details or explore other coins, feel free to ask! 😊🚀

Investing in cryptocurrencies can be quite volatile, and results can vary significantly. According to a recent Pew Research Center survey, 46% of Americans who have invested in cryptocurrencies reported that their investments performed worse than expected1. However, it’s essential to note that individual experiences can differ widely, and some investors have seen positive outcomes.

If you’re interested in specific examples, here are a couple of notable cases:

MultiversX (EGLD): This cryptocurrency, formerly known as Elrond, has struggled in 2024 despite overall market growth2.
TerraUSD: A stablecoin designed to maintain a $1 value, it unexpectedly collapsed to just a few pennies3.
Remember that investing always carries risks, especially in the crypto space. It’s crucial to do thorough research, diversify your portfolio, and consider your risk tolerance before making any investment decisions. If you have further questions or need more information, feel free to ask! 😊

Certainly! Let’s take a look at the top crypto gainers and losers in the last 24 hours:

Top Gainers:

Livepeer (LPT): Up by 16.88% to $24.55.
Notcoin (NOT): Increased by 12.28% to $0.018191.
Toncoin (TON): Rose by 7.33% to $7.622.
Stacks (STX): Gained 7.03% at $2.323.
Injective (INJ): Up by 5.89% to $30.174.
Top Losers:

Brett (Based) (BRETT): Decreased by 7.97% to $0.15095.
FLOKI: Lost 7.77% at $0.0002208.
Akash Network (AKT): Down by 5.76% to $3.53.
ORDI: Declined by 4.83% to $49.07.
Wormhole (W): Decreased by 4.48% to $0.5027.
Remember that cryptocurrency prices can be volatile, so always do your research and consider your risk tolerance before investing. 🚀📈