The Internal Revenue Service (IRS) has issued a temporary relief measure to address potential tax complications for cryptocurrency holders using centralized finance (CeFi) brokers in 2025. The relief, as explained by Shehan Chandrasekera, Head of Tax Strategy at CoinTracker, mitigates the impact of new regulations under Section 6045, requiring CeFi brokers to report cryptocurrency transactions … Read more
The cryptocurrency market continued its volatile ride in 2024, with Bitcoin experiencing a significant pullback after reaching a record high. However, Ethereum demonstrated strength, attracting a growing base of long-term holders. Shifting Tides: Ethereum’s Growing Dominance Data from IntoTheBlock reveals a stark contrast between Bitcoin and Ethereum’s long-term holder trends. While Bitcoin saw a decline … Read more
Ripple (XRP) experienced a significant decline on December 30th, falling over 4% amidst a broader cryptocurrency market downturn. This downturn was primarily attributed to low liquidity and traders securing profits ahead of the New Year. Consolidation Phase After Rally: XRP, which had surged 230% since November following the US election, has entered a consolidation phase. … Read more
Despite the disappearance of “crypto accepted here” signs, cryptocurrency usage is thriving in Venezuela. Citizens increasingly rely on Bitcoin, Ethereum, and USDT for transactions, remittances, and as a hedge against hyperinflation. Crypto as an Economic Lifeline: Escaping Inflation: Venezuelans are turning to crypto to escape the devaluing bolivar, mirroring a trend seen in other countries … Read more
2024 was a banner year for The Open Network (TON), exceeding expectations with explosive growth across key metrics. TON emerged as a top contender among Layer 1 blockchains, driven by a unique combination of factors: Telegram Integration: TON’s ties to Telegram, a messaging platform with 800 million users, provided a massive user base and facilitated … Read more
Crypto.com, a leading cryptocurrency exchange, and Dubai Islamic Bank (DIB), one of the largest Islamic banks in the world, have signed a Memorandum of Understanding (MoU) to explore a range of innovative payment solutions and services. The partnership will focus particularly on Sharia-compliant financial products, such as tokenized Islamic Sukuks and real-world asset tokenization. The … Read more
In November, the victory of the president-elect sparked a surge in crypto markets, with many analysts predicting the end of the U.S. government’s aggressive stance toward the industry’s major players. This shift in policy is seen as a significant milestone, but the question remains: will the Trump Administration actively implement the policies experts argue are … Read more
Cryptocurrency Exchange-Traded Products (ETPs) offer investors exposure to cryptocurrencies like Bitcoin and Ethereum without the complexities of direct ownership. Their performance and adoption vary significantly between the U.S. and UK, driven by distinct regulatory landscapes, market demand, and product offerings. U.S. Market: Rapid Growth Post-Approval The U.S. witnessed a surge in crypto ETPs following … Read more
Cardano (ADA), a prominent layer-1 blockchain, has seen a surge in bullish sentiment in recent months. However, technical indicators suggest potential headwinds in the near term. Technical Analysis: Head and Shoulders Pattern: ADA price may be forming a head and shoulders pattern, a bearish reversal signal, on the daily chart. Bearish Divergence: The RSI is … Read more
Australia has emerged as a global leader in cryptocurrency accessibility, boasting the third-largest Bitcoin ATM network worldwide with 1,359 machines as of December 2024. This represents a significant increase over the past 29 months, solidifying the country’s position in the crypto landscape. A Global Surge: Australia’s Rise: With 3.5% of all global Bitcoin ATMs, Australia … Read more