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 Most of the people are thinking that it’s a good idea to invest on XRP right now because it's priced below $1, much lower than its all time high $3.84. If Ripple wins the ongoing SEC lawsuit, XRP's price might go up a lot. Read more: https://www.cryptocrit.xyz/2024/05/Ripple-today-news.html |
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Crypto analysis: BTC staying above $67,000 but still in threat to fall back 16% from current price If Bitcoin maintains a stable close above $67,206, it could continue to rise towards the psychological level of $70,000. In a highly optimistic scenario, Bitcoin might even turn the $67,206 level into a support base, aiming for its all-time high of $73,777. Read full analysis...... https://www.cryptocrit.xyz/2024/05/Crypto-analysis-BTC.html
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A person lost $71 million on Crypto scam, an unbelievable trick surprise the world The cryptocurrency communities are really surprised by hearing about this type of tricks to make scam, also demanded the urgent need for increased awareness and education on the risks associated with digital asset transactions. more... https://www.cryptocrit.xyz/2024/05/a-person-lost-71-million-on-crypto-scam.html
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 In Sweden, a significant development has occurred in the cryptocurrency mining sector. 21 Crypto mining firms are facing a substantial tax bill totaling $90 million (approximately 900 million SEK) following a meticulous audit by the Swedish Tax Agency. This audit scrutinized the tax reporting practices of crypto mining businesses, potentially uncovering discrepancies in how income and expenses have been declared. The reasons behind this hefty tax bill could be multifaceted. Firstly, the Swedish Tax Agency likely views crypto mining as a business activity, which would make earnings from mining subject to corporate income tax. Additionally, there may have been instances where miners underreported their earnings or failed to declare them altogether. Another factor could be the application of Value Added Tax (VAT) on the electricity used for mining operations, which adds another layer of financial obligation for the miners. continue reading... https://www.cryptocrit.xyz/2024/04/Crypto-tax-in-Sweden.html |
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 In June 2020, Ve Chain hovered around $0.004, and by April 2021, it was reached a new high of around $0.280, reflecting a roughly 6900% increase. Crypto experts thought that Ve Chain potentially setting the stage for continued bull run as so far it has crossed upper boundary level at $0.032.Ve Chain experienced notable price movements from June to December on 2020. During this period, Ve Chain's price exhibited a significant upward trend, reflecting investor optimism and market dynamics. So some traders and market experts are suggesting that this Ve Chain might have a chance to experience it again. In June 2020, Ve Chain's price hovered around $0.004, remaining relatively stable with minor fluctuations until July. However, starting from August, a gradual uptrend emerged, with Ve Chain reaching $0.007 by September. This increase could be attributed to renewed interest in blockchain technology and positive project developments, such as partnerships or technological advancements. Read in details... https://www.cryptocrit.xyz/2024/04/Ve-Chain-Crypto.html |
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Cryptocurrency crash The total market capitalization of all cryptocurrencies dropped by over $400 billion within a two-day period as BTC leading the charge by dropping $10,000. The total crypto market cap dropped from nearly $2.8 trillion on Friday morning to about $2.330 trillion yesterday evening. It has recovered around $100 billion since then, but it is still 5% down on the day. Read in details here... https://www.cryptocrit.xyz/2024/04/Cryptocurrency-crash.html
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 Biden administration proposed DAME tax on Tuesday, which would charge Bitcoin miners a 30 % tax on the cost of the electricity, but crypto industries are not happy with this proposal, have shared negative opinion against this decision.The Bitcoin mining community is facing a new challenge that could change its future in the United States. The White House has proposed a tax called the Digital Asset Mining Energy (DAME) tax, which would make it more expensive for companies to mine Bitcoin and other digital currencies. On Tuesday, this proposal was brought back into the spotlight as part of the government’s budget plan for the next fiscal year. The DAME tax would charge Bitcoin miners a 30% tax on the cost of the electricity they use. This tax would be introduced gradually: starting at 10% in the first year, then increasing to 20% in the second year, and finally reaching 30% in the third year. Read full article here https://www.cryptocrit.xyz/2024/04/DAME-tax-in-USA.html |
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 During the last month, the price of Ve Chain went up and down a lot. It started as low as $0.03673 and went as high as $0.05261. That means if you had bought Ve Chain at its lowest point and sold it at its highest, you could have made a nice profit. Ve Chain (VET) investors have noticed a huge fluctuation in its price. During the last month, the price of Ve Chain went up and as usually down a lot. It started as low as $0.03673 and went as high as $0.05261. That means if you had bought Ve Chain at its lowest point and sold it at its highest, you could have made a nice profit. Out of the 30 days in the month, Ve chain had 16 days where its price went up. Market experts indicate several factors could be contributing to this price change. Read in details: https://www.cryptocrit.xyz/2024/04/Vechain-crypto-price-up-down.html |
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 Ripple aims to enter the stablecoin market, which is currently dominated by Tether (USDT) and USD Coin (USDC), by offering its own U.S. dollar-backed stablecoin. The presence of the stablecoin on the XRP Ledger could enhance liquidity and potentially increase the value of XRP.Ripple, known for its XRP cryptocurrency and financial blockchain solutions, is gearing up to introduce a U.S. dollar-backed stablecoin. This move aims to shake up the stablecoin market dominated by giants like Tether (USDT) and USD Coin (USDC). The stablecoin serves multiple purposes. Firstly, it's a strategic move to compete in the thriving stablecoin market. Additionally, by tethering to the USD, Ripple hopes to attract more users and liquidity to its XRP Ledger blockchain platform. Moreover, the stablecoin could bridge the gap between traditional finance and the crypto world, facilitating quicker and cheaper cross-border payments. Read in details.... https://www.cryptocrit.xyz/2024/04/Ripple-today-news.html |
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Commodity Futures Trading Commission (CFTC) about Litecoin The Commodity Futures Trading Commission (CFTC), which is in charge of regulating markets for futures and derivatives in the United States, took legal action against KuCoin. The reason for this lawsuit, KuCoin was offering its users the option to engage in leveraged trading with several cryptocurrencies, such as Litecoin (LTC), Bitcoin (BTC), and Ether (ETH), without the legal approval to do so. This event is catching a lot of attention because it involves a major player in the crypto exchange world and several popular cryptocurrencies. One key point in the lawsuit is the CFTC's view on Litecoin. The regulatory body argues that Litecoin should be considered a commodity. This classification is crucial because it brings Litecoin within the CFTC's area of oversight, which mainly covers commodities futures trading. This means that, according to the CFTC, any future or options trading that involves Litecoin is something they can regulate. This is a big deal because it puts Litecoin on a similar footing with traditional commodities like gold or oil, at least in the eyes of this regulatory body. continue reading... https://www.cryptocrit.xyz/2024/03/commodity-futures-trading-commission-about-litecoin.html
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Protecting yourself from fraudulent calls claiming to be government officials In today's world of computers and phones, crypto or other digital scams are getting smarter. One common trick is when people pretend to be police or government workers. These tricksters use different methods to scare and trick people into giving them important information or doing things that could hurt their money. The scam typically begins with a phone call, as someone claiming to be from a government agency or law enforcement department. They may inform you of alleged fraudulent activities or criminal behavior associated with one of your accounts. To further convince you of the urgency of the situation, they create a sense of imminent danger and pressure you to act quickly. Once they have your attention, the scammers present a solution to the fabricated problem they've just described. They tell you to keep your money safe by putting it in a place they say is secure, like a Bitcoin ATM. They might say that moving your money to cryptocurrency will protect it from the danger they mentioned. continue reading.... https://www.cryptocrit.xyz/2024/03/Beware-of-crypto-scams.html
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New crypto tax proposal make affect on your current crypto planning Cryptocurrency taxes in the US could soon change, affecting how people use digital money. The government wants to make crypto rules more like those for regular money. This could change how you manage your digital assets. Right now, if you sell crypto for less than you bought it and then quickly buy it back, you can claim a tax break. But new rules might stop this trick. If you buy the same crypto again too soon, you might not get the tax benefit. This could make it harder to make quick profits from trading crypto. Another proposed change involves taxing the electricity used for mining crypto. This could make mining less profitable. Miners might need to adjust where they operate or how they set up their equipment to deal with the extra costs. Continue reading... https://www.cryptocrit.xyz/2024/03/Crypto-tax-proposal.html
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 Former cryptocurrency billionaire Sam Bankman-Fried is facing between 40 and 50 years in prison due to crypto scamIn November 2023, Sam Bankman-Fried the CEO of FTX (cryptocurrency exchange), was found guilty of some really serious stuff. The charges against him was fraud, conspiracy, and money laundering. It's a big deal because the prosecutors say these crimes involved a ton of money and hurt lots of people, over a million, in fact. The prosecutors think that Bankman-Fried came up with a plan to trick investors, customers, and lenders. They say this plan caused FTX to fall apart. That's a big accusation! Because of how serious these accusations are, the prosecutors are asking for a really tough punishment. They want Bankman-Fried to spend between 40 and 50 years in prison. Continue reading.... https://www.cryptocrit.xyz/2024/03/sam-bankman-in-prison.html |
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 The cryptocurrency market has witnessed a notable correction in the price of MATIC in recent days, the native asset of Polygon, the largest Ethereum scaling token. Despite positive indicators reflecting growth within the Polygon Network, MATIC's price has faced downward pressure, prompting concerns among investors and analysts alike. Throughout March 2024, Polygon Network has experienced a steady increase in active addresses, indicating a growing user base and heightened network activity. On-chain metrics provided by Santiment further affirm this growth trend, with both the Network Growth metric and the Active Address chart demonstrating consistent upward trajectories. Such metrics typically signal positive developments within a blockchain ecosystem, reflecting increased adoption and usage. However, despite these optimistic indicators, MATIC's price has exhibited a notable decline, falling by nearly 10% over the course of a week.MATIC's price stands at $1.05, highlighting a departure from its recent trading range. Insights from IntoTheBlock indicate that a decline below the current range could trigger further downside movement, potentially leading to a test of the $0.91 support level. This suggests that MATIC is currently navigating a critical juncture, with its price trajectory hinging on various market dynamics and investor sentiment. Continue reading... https://www.cryptocrit.xyz/2024/03/MATIC-price-analysis.html |
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Cryptocurrency funds are witnessing a record inflow, reaching a staggering $2.7 billion this week .This suggests growing investor confidence in the market. In recent times, there has been a remarkable surge in the attention of investors towards the cryptocurrency market. According to the latest data, there has been an unprecedented influx of $2.7 billion into cryptocurrency funds this week alone. This surge in capital inflow indicates a significant increase in the amount of money flowing into the cryptocurrency market, painting a promising picture for its future. The influx of such a substantial amount of capital into cryptocurrency funds serves as a testament to the growing confidence investors have in the market. This vote of confidence suggests that investors are becoming increasingly optimistic about the potential of cryptocurrencies to deliver significant returns on investment. As a result, they are more inclined to allocate more of their funds towards this emerging asset class. Continue reading... https://www.cryptocrit.xyz/2024/03/Crypto-investment-surge.html
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