Crypto Espresso: Your quick shot of the latest crypto moves and news
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Your quick shot of the latest crypto moves and news, the Crypto Espresso is brought to you by Capital.com Australia (AFSL 513393), a multi-award winning global investment trading platform.
Crypto is having a time. While Bitcoin is recovering from its low of US$38k, Litecoin is setting new records, and not in a good way; the fact that its price has fallen farther doesn’t help its perception as being perpetually in the shadow of its popular older sibling. Unless you’re buying, in which case, one could argue it’s giving Bitcoin a run for its money.
The Graph is feeling volatile, LUNA’s price plunges to more than half its peak, CAKE coin fails to rise from January’s flash crash, and is Oracle’s DIA DOA? Also, prepare to pay capital gains tax on your monkey pics.
Meanwhile, Indian investment platforms power ahead with their crypto expansions, despite government threats of an outright ban.
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Indian cryptocurrency investment platforms seem unfazed by government rhetoric and are going ahead with plans to scale up – especially in hiring experts.
Bitcoin’s racier younger sibling Litecoin (LTC) has been outpacing the crypto giant recently, but only in as much as its price has fallen further. As of 21 February, LTC has fallen 21% from its February high while BTC has lost 14% of its value.
Oracle organisation Decentralised Information Asset (DIA) got a near 50% boost when it announced it was teaming up with the UK FCA-regulated crypto index provider CF Benchmarks to bring its crypto index reference prices as feeds in its guest oracles.
It’s been a frenetic February so far for fans of the coin of The Graph, the decentralised indexing protocol, as its price has swung wildly with 25% losses and 30% gains.
As of 21 February, LUNA was trading at around US$51.42, just over 50% below its peak.
CAKE, the coin of the decentralised exchange (DEX) PancakeSwap, has failed to recover from the crypto flash crash in January.
Bitcoin and the rest of the cryptocurrency market were on the rise in London trade on 21 February after a weekend dive in which the OG cryptocurrency sank to a low of US$38,000.
It is hard to say how NFTs will be taxed. According to Gareth Randle, managing director of Authentix Management, NFTs will likely be treated like the sale of any asset that’s subject to capital gains.
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