The world of cryptocurrencies can be a tricky field to navigate for the uninitiated.
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The price hike of Bitcoin, along with Ethereum, represents another wave of support for major cryptocurrencies as investors and crypto fans hope to usher the coin to a landmark $100,000 in value for 2022.
Although cryptocurrencies like Bitcoin are virtual currencies, they are treated as an asset for capital gains tax purposes, and “ordinary” investors who purchase Bitcoin as an investment will experience a capital gain or loss when they exchange it for traditional currency, products, or services.
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But of course you'll want to be wary of another possible Squid Game fiasco, which reportedly scammed users of an estimated $3.38million.
DeFi and NFT expert Rio Rocket told The Sun that he is hearing "rumblings" from investors noting that they are "unable to take large-scale profits."
The cryptocurrency has continued to rise and fall as other global administrations and regulators mull legislation to curb increased crypto activity often attributed to laundering and crime.
Thus, Binance.US will not initially support its projects such as BitTorrent (47th by market capitalization), Fetch.AI (207), Celer (180) and Matic Network (127), despite having these raise capital on the Binance Launchpad platform.
Liquidity measures how easy (or difficult) it is to swap one asset for another. Traders want to be able to convert one asset for another asset while having a minimal impact on the price. The more illiquid an asset is, the harder it will be to trade it without causing a major price change. Therefore, liquidity is an extremely important factor to consider before deciding where to trade.
Community-driven DeFi token SafeMoon has made it to the top 100 cryptocurrencies by market capitalization. SafeMoon prepares for a comeback with the upcoming V2 upgrade.
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CRYPTO UPDATE All of the largest cryptocurrencies were up during morning trading on Thursday, with Polkadot (DOTUSD) seeing the biggest move, climbing 5.83% to $48.18. Dogecoin (DOGEUSD) rose 5.73% to 26 cents, while Ethereum (ETHUSD) increased 3.
Understanding ICOs and other cryptocurrency offerings (North American Securities Administrators Association)
Israeli Defense Minister Benny Gantz ordered security forces to seize the accounts after a joint operation “uncovered a web of electronic wallets” used by Hamas to raise funds using bitcoin and other cryptocurrencies, the ministry said.
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