Bitcoin rises, Ethereum biggest gainer

[franch]

Cryptocurrencies traded in the green early on March 14. The global crypto market cap is $2.00 trillion, a 2.74 percent increase over the last day. The total crypto market volume over the last 24 hours is $106.81 billion, an increase of 8.83 percent.

The total volume in DeFi is currently $13.43 billion, 12.57 percent of the total crypto market 24-hour volume. The volume of all stablecoins is now $88.49 billion, which is 82.84 percent of the total crypto market 24-hour volume.

Bitcoin's price is currently Rs 33.88 lakh, with a dominance of 41.89 percent. This is a 0.14 percent increase over the day, as per CoinMarketCap data.

In other news, the government on March 24 proposed to tighten the norms for taxation of cryptocurrencies by disallowing set-off of any losses against gains from other virtual digital assets.

As per the amendments to the Finance Bill, 2022, circulated among the Lok Sabha members, the ministry proposes to remove the word 'other' from the section relating to set-off of losses against gains in virtual digital assets. This would mean that loss from the transfer of virtual digital assets (VDA) will not be allowed to be set off against the income arising from the transfer of another VDA.

According to the Finance Bill, a VDA could be a code or number or token which can be transferred, stored or traded electronically. The VDAs will include prevailing cryptocurrencies and non-fungible tokens (NFTs) which have hogged the limelight over the past couple of years.

The 2022-23 Budget had brought in clarity on the levy of income tax on crypto assets. From April 1, a 30 per cent I-T plus cess and surcharges will be levied on such transactions.

As of 8.00 am on March 25, these are the prices of largest cryptocurrencies

Source: https://www.moneycontrol.com/news/business/cryptocurrency/cryptocurrency-prices-today-march-25-bitcoin-up-ethereum-biggest-gainer-8272641.html

[hugeblack]

Cryptocurrencies traded in the green early on March 14. The global crypto market cap is $2.00 trillion, a 2.74 percent increase over the last day. The total crypto market volume over the last 24 hours is $106.81 billion, an increase of 8.83 percent.

These terms should not be taken seriously:

 - Global market capitalization of cryptocurrencies
 - Crypto market size in the last 24 hours
 - Bitcoin dominance.
 - Total volume in DeFi.

Market capitalization will have value in bitcoin because it is difficult to increase supply and demand but in many cryptocurrencies it is a misleading and unreal measure.
The same applies to dominance, which is measured based on market value.

The news does not contain anything new, as it combines the analysis aspect, and the legal aspect, so I do not advise you to share it like this without adding your personal opinion.

[STT]

ETH should always be moving faster then BTC thats natural, it wont always upwards and people wont celebrate when it loses more in harsher times too.    Its still a much newer standard, some people think ETH can or will replace Bitcoin eventually and that would be a big alteration in bias but for now its just a derivative and like all the alt coins it'll always have a higher velocity in both directions.

Right now I expect BTC to slow down some in a weekly timeframe consideration because the lowest prices of a year ago are now the highest prices in this recovery so we can easily top out here.   Not that we must stop here but generally after a rise people will take profits and the effects on a graph is to see gradient level off and perhaps we pull back some.   If we stay above 43k during that process in the next week it will be very bullish I think, we roughly place on the average price for the last year.

[TravelMug]

True, but we shouldn't equate this a something like Ethereum is gaining on Bitcoin because it is not.

Obviously, the price of Bitcoin is already on the 5 digits as compare to Ethereum, so it's easy for the majority to put their money on them and for short term gains.

Still though, bitcoin has been dominated the market again, 40%++, I think that's about normal in this kind of market scenario, (neither bullish nor bearish).

[GreatArkansas]

Also observe why Ethereum can be the biggest gainer too, considering the Bitcoin Dominance when decreasing even it is pumping, expect altcoins could be the biggest gainer too especially Ethereum as Ethereum is the biggest market cap altcoin.

Also consider the market cap of these two, Bitcoin and Ethereum. I also believe when these two are dumping, you can observe the percentage is lesser compared to other altcoins, that's why during these days, I am more confident having my portfolio is more exposure on these two.

[Poker Player]

I agree to be skeptical of the OP's statement in the title. We could only consider that Eth is a gainer in the short term recently, and regarding the market cap, which is not very reliable, we have to think that Bitcoin competes with about 18,500 shitcoins, it has a 42% market cap compared to so many shitcoins, which seems to me that to be remarkable.

Although it must be recognized that, as little as I like Eth, I think it will continue to be strong in the market for many years. If we go back in time and look at the top ten cryptos, we see that many have changed. The only one that remains up there, apart from Bitcoin, is Eth. It seems the strongest of all the shitcoins.

[davis196]

The total volume in DeFi is currently $13.43 billion, 12.57 percent of the total crypto market 24-hour volume. The volume of all stablecoins is now $88.49 billion, which is 82.84 percent of the total crypto market 24-hour volume.

Who cares about the stablecoins and DeFi?If you plan to write about stablecoins and DeFi,then why not move this forum thread to the Altcoin discussion forum.The "Speculations" forum is only about discussions related to the Bitcoin price.

Bitcoin's price is currently Rs 33.88 lakh, with a dominance of 41.89 percent. This is a 0.14 percent increase over the day, as per CoinMarketCap data.

Who cares about the Bitcoin price "dominance" over altcoins anymore?This indicator doesn't mean anything.
Should we pay attention to a 0.14 percent price increase for one day?Any Bitcoin price movement below +/- 10% should be ignored,if you ask me.There's no point of focusing on such small price increases.

The part,where you are writing about changes in the crypto tax legislation is quite interesting.Are you talking about the crypto taxes in India?If yes,then why don't you mention this in the forum thread.
I thought that you were writing about the US crypto tax legislation.

[TravelMug]

And yet ETH is also down together with BTC in the last 7 days. So guess what, both of them have suffered a loss so there is no biggest gainer here. ETH just above $3200 and BTC $43k shy.

So that's about it, no movers for this week as the price is declining. Market has a selling pressure since the middle of this week but it seems that it has slow down in the last 24 hours, although it is understandable because it's weekend. So the action might start next week again and we shall see if bitcoin can maintain it's price above $40k.

[adaseb]

Ethereum in general always moves in higher percentages than Bitcoin. Also keep in mind it’s market cap is smaller so easier to move.

Right now all eyes are on the Luna buys and whenever he makes any transfers people try and front run the orders. He still has lots to buy so I am pretty sure we will make another attempt at $50K however the issue is will it hold when everybody knows he is done purchasing. Right now the bears are on stand by.

[ethereumhunter]

It looks like ethereum is still waiting for confirmation from bitcoin because if you look at its movements these days, ethereum is behind bitcoin. Yesterday bitcoin had experienced an increase for a while and ethereum also experienced it and rose to several levels. But then bitcoin fell back and made ethereum follow behind bitcoin.

And now, ethereum is still around $3,250 and no one knows what will happen next. But there is a possibility that the price of bitcoin will rise again in the next week and if this happens, it will trigger other coins to increase again.

[wagmi]

ETH lost space because ETH 2.0 was delayed again.
It's not a surprise and it just shows how BTC is doing a good job so far. ETH devs are really having some issues to provide a working and safe code.
Bitcoin works, no doubt!

Also, keep in mind how BTC is capped at 21 Million pieces and for ETH, nobody really knows. 
Soon, BTC will be big gainer again.

[yhiaali3]

ETH lost space because ETH 2.0 was delayed again.
It's not a surprise and it just shows how BTC is doing a good job so far. ETH devs are really having some issues to provide a working and safe code.
Bitcoin works, no doubt!

That's right, unless ETH 2.0 is released there will still be big problems in the Ethereum network and many users will have great difficulties working on Ethereum applications due to the high fees, there are a lot of projects that have moved from the Ethereum network to Binance, Polygon or other networks to get rid of the problem Congestion and high fees on the Ethereum network and this is causing huge losses for the network, we have to wait for the ETH 2.0 upgrade to finish until we see the exciting movement on Ethereum again.

[coupable]

ETH lost space because ETH 2.0 was delayed again.
It's not a surprise and it just shows how BTC is doing a good job so far. ETH devs are really having some issues to provide a working and safe code.
Bitcoin works, no doubt!

That's right, unless ETH 2.0 is released there will still be big problems in the Ethereum network and many users will have great difficulties working on Ethereum applications due to the high fees, there are a lot of projects that have moved from the Ethereum network to Binance, Polygon or other networks to get rid of the problem Congestion and high fees on the Ethereum network and this is causing huge losses for the network, we have to wait for the ETH 2.0 upgrade to finish until we see the exciting movement on Ethereum again.

This is true. As it's true not to be related to bitcoin rises. Ethereum has its features to determine its value whatever the condition of bitcoin despite it's the most marketcap with more than 40% from the global. Ethereum is the second since 2017 and didn't lose volume despite all the network transaction related issues.

[dunfida]

ETH lost space because ETH 2.0 was delayed again.
It's not a surprise and it just shows how BTC is doing a good job so far. ETH devs are really having some issues to provide a working and safe code.
Bitcoin works, no doubt!

That's right, unless ETH 2.0 is released there will still be big problems in the Ethereum network and many users will have great difficulties working on Ethereum applications due to the high fees, there are a lot of projects that have moved from the Ethereum network to Binance, Polygon or other networks to get rid of the problem Congestion and high fees on the Ethereum network and this is causing huge losses for the network, we have to wait for the ETH 2.0 upgrade to finish until we see the exciting movement on Ethereum again.

This is true. As it's true not to be related to bitcoin rises. Ethereum has its features to determine its value whatever the condition of bitcoin despite it's the most marketcap with more than 40% from the global. Ethereum is the second since 2017 and didn't lose volume despite all the network transaction related issues.

Was actually surprised that ETH had able to retain the no. 2 spot despite of having that high fee issue which had been sitted for a while now and still unresolved.

You could normally see top altcoins doesnt really always correlate with Bitcoins price no matter what the trend is but most of the time it do really follows but there are situations which
it do really goes to opposite.

Thats why having diversified portfolio and sticking with top ranking altcoins in the market isnt really that a bad idea.

[Marvell1]

Was actually surprised that ETH had able to retain the no. 2 spot despite of having that high fee issue which had been sitted for a while now and still unresolved.

I am not surprised that ETH is still the top altcoin, I agree that ETH's high transaction fees and slow transaction processing are a big problem for ETH also with the delay in ETH2.0 upgrade also causing ETH is affected. But you will not find an altcoin that is more secure than ETH and the most decentralized of all altcoins. Recent altcoins trade off decentralization for cheap transaction fees and fast transaction speeds, this is unwelcome and goes against the decentralized nature of cryptocurrencies.

[rodskee]

ETH lost space because ETH 2.0 was delayed again.
It's not a surprise and it just shows how BTC is doing a good job so far. ETH devs are really having some issues to provide a working and safe code.
Bitcoin works, no doubt!

that ETH 2.0 is still on hold , when will this be on the availability lol, since I start in crypto that 2.0 version is on the table but until now? there is a shadow availability lol.

Also, keep in mind how BTC is capped at 21 Million pieces and for ETH, nobody really knows. 
Soon, BTC will be big gainer again.

Lol Bitcoin is always Big gainer and not anything ,  though they sometimes get small gains yet overall? it is BTC that keeps the increase lol.

[adaseb]

Was actually surprised that ETH had able to retain the no. 2 spot despite of having that high fee issue which had been sitted for a while now and still unresolved.

I am not surprised that ETH is still the top altcoin, I agree that ETH's high transaction fees and slow transaction processing are a big problem for ETH also with the delay in ETH2.0 upgrade also causing ETH is affected. But you will not find an altcoin that is more secure than ETH and the most decentralized of all altcoins. Recent altcoins trade off decentralization for cheap transaction fees and fast transaction speeds, this is unwelcome and goes against the decentralized nature of cryptocurrencies.

The biggest issue with Ethereum is that even though the network is decentralized because a lot of the hash power is scattered all over the world the issue is the control that a small group of developers has over the entire project.

Remember how the EThereum classic was created? Due to the DAO hack. They have too much influence and hence why many are still trusting Bitcoin more since Satoshi is a mystery and most likely he will never move his coins until the devs holding all that ETH from their ICO.

[the ghabbar]

This is true. As it's true not to be related to bitcoin rises. Ethereum has its features to determine its value whatever the condition of bitcoin despite it's the most marketcap with more than 40% from the global. Ethereum is the second since 2017 and didn't lose volume despite all the network transaction related issues.

These two coins are representations for other existing coins, usually the strengthening that occurs against these two coins can affect good hype for other coins, regardless of the problem of expensive transaction fees, or high purchase fees, but we can be sure that everyone is after both coins. this, due to high hopes for a good investment only in these two coins, regardless of how the ongoing market reacts to them