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Cointelegraph
Cointelegraph
Who is Mira Murati, OpenAI’s interim CEO?
3 months ago
Cryptos Headlines
Cryptos Headlines
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SOL reached $100 after breaking a significant resistance on February 9, with potential to extend gains to $126.40 if buying pressure persists. Analysts foresee a bullish outlook for SOL in both the short and long term. Cryptos Headlines Token Airdrop Is Live, Claim 5000 CHT Token Free On CryptosHeadlinesToken.com During the Chinese New Year celebrated on February 9, crypto prices, including Solana (SOL), received a boost. SOL’s price reached $110, rising by 10.12% in the last 24 hours according to CoinMarketCap data. Notably, this recovery coincided with the Solana development team’s report on the cause of the recent 5-hour outage. Solana Outage: Causes and Impact On Tuesday, February 6, Solana encountered a blackout, leading to transaction failures on the blockchain. During this period, the price of SOL experienced a significant decline. In a recent update, Solana identified that the issue stemmed from the LoadedPrograms encountering an infinite loop during network replay. This resulted in validators being stuck on a single block, impeding the processing of other transactions. To provide context, an infinite loop refers to a series of instructions that continuously run programs without termination. Solana further clarified that at the time of the outage, over 95% of the cluster stake was operating on version 1.17, causing most validators to stall on this block. SOL Price Analysis and Potential Movements On the 4-hour chart, heightened buying pressure propelled SOL above the $101.76 resistance level. Sustained buying momentum could push the token’s price further towards $120 in the short term. However, maintaining support at $95.11 is crucial for this upward trajectory. Cryptos Headlines Token Airdrop Is Live, Claim 5000 CHT Token Free On CryptosHeadlinesToken.com The Relative Strength Index (RSI) at 69.20 indicates increased buying momentum and suggests potential for further growth. Yet, if the RSI surpasses 70.00, signaling overbought conditions, SOL may retreat to $97.74 before potentially rebounding if bullish sentiment persists. Moreover, the Moving Average Convergence Divergence (MACD) remains in the positive region, with the 12-EMA (blue) above the 26-EMA (orange), indicating clear upside potential for SOL. SOL/USD 4-Hour Chart (Source: TradingView) If bullish momentum prevails, SOL could reach $126.40, its level last seen on Christmas day. Conversely, profit-taking by traders could lead to a drop below $100 in the interim. Analyst Predictions for SOL’s Future Recent forecasts from various analysts indicate a bullish outlook for the L1 token. One investor, CryptoJelleNL, suggested on X that SOL could replicate Ethereum’s (ETH) trajectory in 2022, soaring from $350 to $3500 within a few months. If SOL follows a similar path, it could reach $1000 by the end of the year. Matthew Dixon, CEO of the crypto rating platform Evia, provided a more cautious short-term prediction. Despite the recent technical glitch, Dixon believes SOL’s rally will persist, foreseeing even higher prices ahead. $SOL  120 could be a fair upside target for  #Solana  where the c wave = a wave (making up a larger B wave) before we get a further downside correction. Therefore short term and long term positive with a medium term correction on the cards pic.twitter.com/uVYC3OTC5m— Matthew Dixon – CEO Evai (@mdtrade) February 9, 2024 According to his analysis, SOL could surpass $132 in the short term. However, Dixon anticipates a correction afterward, potentially driving the token down to $92 before another uptrend. Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice. #Solana #Bitcoin #Altcoin #Cryptocurrency #CryptoNews

15 days ago
CryptoSlate
CryptoSlate
Todayq News
Todayq News
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The Indian crypto market is still waiting for a bull run with an expectation that the government might give out some regulatory guidance. Amid this speculation, one of the biggest crypto exchanges in India, WazirX’s CEO advocated about reducing crypto trading linked tax rates in the upcoming interim budget 2024. WazirX’s view on tax rates Nischal Shetty, CEO of WazirX, took to social media to highlight concerns faced by crypto traders in India regarding the current tax structure. He pointed out that the flat 30% income tax rate poses challenges for crypto traders, as it doesn’t align with the existing tax slabs.  He suggested an instance where individuals earning up to INR 2.5 lakh don’t pay any tax, but crypto traders earning INR 2 lakh would be subject to a 30% tax. Similarly, those earning INR 5 lakh, typically taxed at 5%, face a 30% tax rate as crypto traders. WazirX CEO emphasized that this contradicts the intended purpose of tax brackets, hurting those they were designed to benefit. The crypto community urges the government to align income tax for crypto earnings with existing tax slabs. Earlier, he addressed the issue of Tax Deducted at Source (TDS), which involves a 1% deduction every time an Indian trader sells digital assets, causing various challenges. High-frequency traders, in particular, experience capital lock-in, lengthy refund cycles, and an inability to trade until the refund is received.  TDS rate cut ahead? Shetty argued that the high TDS rate hurts tax department revenues, as it leads to lower income tax collections from high-frequency traders. He suggested reducing the TDS rate to 0.01% or eliminating it altogether to support the Web3 community’s success. In other news, Indian crypto exchanges are offering hassle-free transfers for users looking to move their crypto assets from banned offshore exchanges following the Financial Intelligence Unit’s (FIU) ban. CoinDCX set aside $1 million to assist users in transferring assets, while BuyUcoin announced zero-fee transfers in response to the FIU ban.  The FIU issued notices of noncompliance to several offshore exchanges, urging the Ministry of Electronics and Information Technology to block their websites if they fail to comply with Indian regulations. The global market cap has recorded a massive inflow since October 2023. The cumulative market cap now stands at $1.68 trillion with Bitcoin trading around $42k-$42k price level. Get Premium Crypto Trading Signals from Real Crypto Analysts. Join our official Waiting List at todayq.com.

about 1 month ago
Todayq News
Todayq News
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The Finance Minister of India, Nirmala Sitharamn will be presenting Interim Budget 2024 on February 1. It will be, by definition, a vote on account. However, this major event has left Indian crypto investors waiting for clear and specific regulations around the trading of Virtual digital assets. In a recent post, the WazirX CEO addressed concerns regarding Tax deductions and more. WazirX CEO advocates for Crypto Tax reforms Nischal Shetty, CEO of WazirX, highlighted the massive concerns regarding Tax Deducted at Source (TDS) for crypto traders in India. As reported, TDS involves a 1% tax deduction each time an Indian trader sells their digital assets, with the deducted amount being deposited on behalf of the seller. While sellers can eventually claim a refund if they are not liable for income tax, high-frequency traders often face issues due to this process. The problems highlighted by Shetty include unnecessary capital lock-in, an extended refund cycle, and the inability to trade during the period until the refund is received. He added that the continuous rotation of capital at a high rate for high-frequency traders results in substantial TDS deductions over time. This, in turn, leads to reduced income and lower income tax collections for the government. Further, Shetty argues that the existing TDS system hurts both traders and the tax department. Traders face capital constraints and reduced income, while the government experiences lower tax collections from high-frequency traders. However, he suggests that reducing the TDS rate to 0.01% or eliminating it altogether could potentially boost income tax collections. What are Indian crypto community’s expectation? The Indian crypto community has actively advocated for reducing crypto tax in the country. It highlights the need for changes in regulatory directions that negatively impact the Web3 industry. WazirX CEO encourages persistence in these efforts, stressing the importance of continuously spreading information about the three proposed changes: He suggests that lowering TDS to 0.01% while allowing loss set-off will help the Indian crypto community. Indian crypto players are urging the government to slash tax rates on crypto assets in the upcoming Union Budget. They specifically request the inclusion of offshore crypto platforms under the TDS mandate and treating income from VDAs at par with capital assets. The current stringent tax norms, imposed in February 2022, have allegedly driven Indian crypto users to migrate to non-compliant foreign exchanges, posing risks to their investments. The upcoming Union Budget in 2024 is anticipated to address these concerns. Get Premium Crypto Trading Signals from Real Crypto Analysts. Join our official Waiting List at todayq.com.

about 1 month ago
BeInCrypto
BeInCrypto
SpaceCatch
SpaceCatch
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The American branch of the global cryptocurrency platform #Binance , known as Binance.US, has announced that Lesley O'Neill will become their new Chief Compliance Officer. O'Neill joins Binance.US with extensive experience gained during her five-year tenure at Prove Identity, a company specializing in digital identity, where she served as Chief Compliance Officer for two years. She also has prior experience in the traditional financial sector.  Role of Chief Compliance Officer At Binance.US, O'Neill will be responsible for managing client identity verification (KYC) programs, anti-money laundering (AML) efforts, and sanction programs. She replaces Tammy Weinrib, who left the company in November after nearly two years of service.  Norman Reed, the interim CEO of Binance.US, expressed confidence in O'Neill and commended her expertise in fraud and identity prevention, as well as her successful track record in developing and managing compliance and legal functions.  O'Neill shared her enthusiasm for her new role at Binance.US, emphasizing her intention to build trust with customers and regulatory bodies through the company's strong foundation in regulatory compliance and commitment to transparency and accountability.  Regulatory Challenges of Binance In recent months, Binance.US and its global parent company, Binance, have faced regulatory scrutiny. In June, the Securities and Exchange Commission (SEC) initiated a lawsuit against both companies for allegedly selling unregistered securities. Binance founder Changpeng Zhao was accused of unauthorized control over Binance.US and admitted to AML rule violations in November, agreeing to pay a fine of 50 million dollars. Binance also settled with various U.S. regulatory agencies, paying fines totaling 4.3 billion dollars. Binance.US has also experienced departures of key personnel, including former CEO Brian Shroder and other significant team members. Norman Reed, a former SEC regulator and former Chief Legal Officer of Binance.US, is now serving as the interim CEO.  Expectations of Binance's Continued Dominance Despite these challenges, Binance is expected to maintain its dominant position in the global market. According to analysts from Bernstein led by Gautam Chhugani, Binance has retained a strong reputation among retail customers outside the USA and is expected to remain a significant player in markets outside the USA. The report also anticipates increased competition from rivals like #Coinbase and new exchanges in regulated markets such as Hong Kong and Singapore. 💥If this article caught your interest, don't forget to follow us and give a like. Throughout this year, we will bring you the most interesting analyses and tips to help you get rich🐳 #bitcoin #SpaceCatch  Notice: ,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

about 2 months ago
Cointelegraph
Cointelegraph

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