Author: CryptoHoppers

The price of XRP, the native token of RippleNet, has been caught in the crosshairs of a bearish crypto market. Currently trading below the crucial $0.50 mark, XRP seems to be following the broader market trend. However, a recent analysis by market analyst Tylie Eric throws a glimmer of hope for XRP holders, predicting a potential price surge based on a technical indicator. Related Reading Understanding Elliott Wave Theory Eric argues that XRP’s price movements might be following a historical pattern known as the Elliott Wave theory. This theory proposes that market trends unfold in a specific five-wave structure, with…

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Azuro will be coming out with an exclusive grants scheme for funding the development of applications with the utilization of Azuro on Polygon PoS. This will include the furthering of on-chain prediction applications targeting sports, as well as entertainment-related projects.  Added to that, the scheme will be offering financial and technical backing to the connected builders.  This is being seen as a first step towards fortifying the bond with the Polygon community.  In the very near future, builders will be provided the option of forwarding their projects for scrutiny. The scheme will entail the allocation of $20,000, coming under two…

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Share this article Bitcoin and the crypto industry have become major topics in this year’s US presidential election. For many people disillusioned with current politics, Bitcoin could bring substantial change, according to Raphael Zagury, Chief Investment Officer at Swan Bitcoin, a Bitcoin investment platform. “It started with senators talking about bitcoin. Then we had more people talking about it. And now we have Trump coming in, and which was a surprise for most people, even for some of us who had been in Bitcoin for a long time, to hear him saying the positive things that he did,” stated Zagury…

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Pantera Capital, an institutional asset manager focused on blockchain technology, has called Solana the “Mac OS of blockchains” in its latest blockchain letter. The firm details that the rise of Solana over Ethereum is reminiscent of what Microsoft experienced when Apple entered the market, highlighting Solana’s growing retail adoption and architectural advantages. Pantera Capital States […] Source link

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Canada has a well-developed cryptocurrency market with numerous regulated exchanges and a growing number of cryptocurrency investors. As cryptocurrency becomes increasingly mainstream, the subject of cryptocurrency taxes is becoming ever more relevant. In this article, we will provide a quick explanation of crypto taxes in Canada and address some of the most common questions Canadian crypto users have about taxes. What are the crypto taxes in Canada? In Canada, income from cryptocurrency-related transactions is either considered as a capital gain or as business income.  50% of the capital gain made from cryptocurrency investing is taxable. For example, if you purchased…

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This week, blockchain startups and various crypto projects collectively raised more than $100 million in venture capital (VC). Here’s a roundup of the funding activities between June 16 and June 22. The activity reflects a growing interest in diverse blockchain applications, from gaming and social networks to advanced cryptographic security. PQShield raises $37m in series B round Security startup PQShield emerged as this week’s biggest winner. It closed a $37 million Series B round to enhance its post-quantum cryptography solutions.  Led by Addition, the funding round also included new investors such as Braavos Capital, Legal & General, and Chevron Technology…

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Share this article Cameron and Tyler Winklevoss, the American entrepreneurs behind Winklevoss Capital Management and crypto exchange Gemini, got back part of their Bitcoin donations from Donald Trump’s presidential campaign after the funds surpassed federal limits, according to a recent report from Bloomberg.The twins said in recent posts that they donated $1 million worth of Bitcoin each to Trump’s campaign. However, under federal law, the campaign could only receive $844,600 from each supporter, which means the Winklevoss twins’ donations exceeded the legal limit, and the excess $155,400 was returned, a campaign official told Bloomberg.The donations were intended to be distributed…

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The Federal Accounting Standards Advisory Board (FASAB) has clarified that seized crypto assets should be treated as “nonmonetary property” while central bank digital currencies (CBDCs) should be treated as monetary instruments. The federal authority claims that cryptocurrencies “do not typically possess all monetary characteristics,” emphasizing that they “are not effective as a unit of account, […] Source link

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America’s ever-growing debt problem is a ticking time bomb that could either push the crypto market to record-breaking heights or bring it crashing down. The Congressional Budget Office (CBO) recently projected that aid packages for Ukraine and Israel, combined with other factors like student loan forgiveness, will push the US deficit to a staggering $1.9 trillion this fiscal year. This ballooning deficit, coupled with a shift towards short-term financing, has some MAJOR implications for the US economy, money markets, and the fight against inflation. America’s updated budget outlook. Source: CBO Boosting Crypto One key way America’s debt problem would benefit…

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Share this article Fund group YieldMax filed with the US Securities and Exchange Commission (SEC) to launch an Ether Option Income Strategy ETF on the New York Stock Exchange, Arca, according to a filing dated June 21, 2024. The move comes ahead of the anticipated launch of spot Ether ETFs in the US.The ETF, using a synthetic covered call strategy, aims to capitalize on the volatility of underlying spot Ethereum ETFs for income generation. Spot Ether ETF holders can sell call options to earn additional income and manage risk. According to the filing, the fund does not invest directly in…

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