Digital currency markets have slipped significantly in value during the last two weeks and the lower prices have not sparked higher trade volumes. Data shows cryptocurrency spot market volume has slipped from $1.4 trillion in November 2021, to this month’s $593 billion in volume. Bitcoin futures open interest and volumes have dropped considerably over the last two months as well.…
All cryptocurrencies other than Bitcoin (BTC) were first described as altcoins for a single reason: There was a rise of projects that copied and pasted Bitcoin’s source code. The cryptocurrencies in the early stages weren’t unique enough to have a distinctive term, so “altcoin” (alternative coins) best fit their description. The community, at that point, didn’t put too much thought…
The value locked in decentralized finance (defi) has dropped 21.22% since January 4, 2022. At the time, the total value locked (TVL) in defi was $255.84 billion and today, the TVL is around $201.55 billion. TVL in Defi Loses $54 Billion in 2 Weeks While digital currency markets shed significant value during the last two weeks, the value locked in…
What are altcoins? The word “altcoin” is derived from “alternative” and “coin.” Altcoins refer to all alternatives to Bitcoin. Altcoins are cryptocurrencies that share characteristics with Bitcoin (BTC). For example, Bitcoin and altcoins have a similar basic framework. Altcoins also function like peer-to-peer (P2P) systems and share code, much like Bitcoin. Of course, there are also marked differences between Bitcoin…
Nonfungible tokens can be minted, sold or bought on NFT trading platforms that are either custodial or non-custodial Today, the crypto space is filled with NFT platforms of all kinds such as mass and niche ones, self-service or invite-only platforms, gaming NFT platforms, sports or music NFT marketplaces and many others. All of them operate slightly differently, provide distinct functionality…
Houbi Global, which is based in Seychelles, has been accused by lawyer Jonathan Levy of operating without accountability to any jurisdiction. The lawyer adds that the exchange’s physical address in the island nation is for mailing purposes only. Accountability Issues U.S.-based lawyer Jonathan Levy has accused Huobi cryptocurrency exchange of running a decentralized global operation that “operates everywhere but is…
In her monthly Expert Take column, Selva Ozelli, an international tax attorney and CPA, covers the intersection between emerging technologies and sustainability, and provides the latest developments around taxes, AML/CFT regulations and legal issues affecting crypto and blockchain. Turkey — the cradle of civilization — is quietly digitizing despite its high-inflation economy, and the lira’s volatility might be correlated with…
The Government of Zimbabwe has confirmed signing an agreement with Daedalus World Limited which enables the latter to collect taxes from crypto and other content providers. Zimbabwe’s Stance on Crypto The Zimbabwean government recently said it had entered into an agreement with the British Virgin Islands-based Daedalus World Limited wherein the latter is expected to collect taxes from companies that…
Bastyon.com is a social platform built on the Bitcoin foundation. It is decentralized with no central serve. Bastyon’s codebase is open source, and everything is governed by the users themselves. Bastyon’s core concept is censorship resistance. It can work even with domains are blocked by connecting directly to the nodes. Bastyon is powered by Pocketcoin (PKOIN), a Proof-of-Stake cryptocurrency that…
Armenia is going to invite cryptocurrency miners to install their coin minting hardware in an old thermal power plant. The TPP will be decommissioned and the government intends to rent it out to industrial companies including mining enterprises. Miners Welcome to Set Up Data Centers at Old TPP in Armenia The equipment at the Hrazdan TPP has been deemed obsolete…
