The global crypto market has seen a positive trend over the last day. The changes for Bitcoin, Binance Coin, and others show an improvement in their value. As the market continues bullish, it has made a significant addition. The market has continued to see an alternation of a positive and negative trends. These changes are mainly the result of instability in the market which has been spurred by the continuous collapse of big names in the industry.
Cryptocurrencies, NFTs, and other digital assets might be soon included in the tax net. There were worries about the potential ban of these assets that huge taxes were imposed which proved to be a heavy burden for businesses and investors. Cryptocurrency is known as Virtual Digital Asset (VDA) in India and the Indian finance minister has talked about the ongoing plans for the taxation of these assets. Nirmala Sitharaman said that they are working on provisions about VDAs in budget 2022.
According to the available information, a provision for taxes on giving gifts to VDAs has also been included. The tax will be paid by the person who receives the gift. Despite NFTs being around since 2015, they took flight in 2021. India is the third leading country in regard to NFT companies. While the US is the leading name which has 91 such companies, compared to 11 in India.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Binance Coin, and others.
BTC stuck at $16.4K
Non-whale Bitcoin accumulators have broken new BTC accumulation records. Bitcoin addresses holding up to 10 BTC have been accumulating record amounts of BTC in the aftermath of the FTX collapse. These changes might have lasting impacts on the market.
The recent changes for Bitcoin show that it has continued to grow. The latest data shows that it has added 1.77% over the last 24 hours. The weekly data shows that Bitcoin has added 3.70%.
The price value of BTC is currently in the $16,478.18 range. The market cap value of Bitcoin is estimated to be $316,707,337,437. The 24-hour trading volume of Bitcoin is about $25,096,059,760.
BNB trading about $300
MVB VI registration opens with support from the BNB chain and Binance Labs. Registration will last till January for the sixth edition of the MVB program. The mentioned program gives projects access to several key areas of support.
The performance of Binance Coin has also shown resilience as it continued to grow in value. The latest data shows that it has added 3.10% over the last day. The seven-day data shows that it has added 17.11%.
The price value of BNB is currently in the $302.80 range. The market cap value of this coin is estimated to be $48,438,888,046. The 24-hour trading volume of the same coin is about $1,035,459,414.
DOT continues bullish
The value of the Polkadot has continued to rise due to the favorable market. The latest data shows that it has added 2.62% over the last 24 hours. The weekly data shows that it has added 2.81%. The price value of DOT is currently in the $5.28 range.
The market cap value of Polkadot is estimated to be $6,024,507,411. The 24-hour trading volume of this coin is about $197,117,207. The same amount in its native currency is about 37,225,385 DOT.
Solana has also remained aggressive as the influx of capital continues. The latest data shows that it has added 1.72% over the last 24 hours. The weekly performance of this coin shows an addition of 19.78%. The price value of SOL is currently in the $13.56 range.
The market cap value of Solana is estimated to be $4,925,393,311. The 24-hour trading volume of this coin is about $330,112,906. The circulating supply of the same coin is about 363,157,244 SOL.
The global crypto market has witnessed a rise in value due to a bullish trend. The latest data shows that it has added a significant value. The performance of Bitcoin, Binance Coin, and others shows an encouraging trend. The global market cap value has also continued to improve. The latest data shows that it is estimated to be $836.58 billion.