Month: July 2023

Quant price stagnates, DigiToads presale approaching $6m as TOADS aims to be a top-100 token

Cryptocurrencies are known for their volatility and continually transforming environment. While certain digital assets undergo rapid ascents and descents, others remain relatively static, leading investors to question their prospects for growth. Quant serves as a prime illustration of this trend. The price of QNT, its native token, has been muted in recent days. Nevertheless, against this backdrop, DigiToads has successfully raised over $5.7 million in its ongoing presale. DigiToads is currently conducting a presale of TOADS, its native ERC-20 token. During this stage, the presale has garnered significant attention in the…

Slovakia approves lower crypto income tax rate

Slovakian lawmakers have passed legislation to regulate and reduce the tax rate on cryptocurrency income. Under the new law, crypto income from assets held for at least a year will be taxed at a favorable rate of 7%, aligning Slovakia with other crypto-friendly countries such as Slovenia and Switzerland. In a June 28 announcement, Slovakian deputies have approved an amendment that will lower the taxation on cryptocurrencies. The assets held for more than a year are subject to a reduced tax rate of 7%, lower than the standard income tax rate.…

Celsius Network approved to convert altcoins into BTC or ETH

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The United States Bankruptcy Court for the Southern District of New York has approved bankrupt crypto lender Celsius Network’s plan to convert its altcoins into Bitcoin (BTC) and Ether (ETH). The order was issued by Judge Martin Glenn, and the liquidations will pave the way for the distribution of the funds to creditors in the near future. The proposal was officially approved after discussions between Celsius and the U.S. Securities and Exchange Commission (SEC). As per the bankruptcy judge’s ruling, the troubled lender is authorized to: “Sell or convert any cryptocurrency…

Cardano losing traction, investors opt for potent crypto projects like InQubeta

The cryptocurrency market is a dynamic ecosystem constantly evolving with new projects and innovations. While some altcoins may experience a decline in interest, others emerge to revolutionize the industry. InQubeta is one such project reshaping the crypto landscape with its artificial intelligence (AI) innovation. As interest in top altcoins like Cardano fades, InQubeta’s technology could allow investors to be part of the future of crypto. InQubeta’s AI innovation InQubeta is at the forefront of a paradigm shift in the crypto industry, bridging the gap between artificial intelligence (AI) and blockchain technology. By…

Dogecoin and Shiba Inu meme coins face stiff competition with the emergence of DigiToads

A new memecoin called DigiToads is gaining popularity in crypto and competing with dogecoin (DOGE) and shiba inu (SHIB). The presale of DigiToads was successful, raising over $5.7 million and selling more than 354 million tokens. This indicates a high level of investor interest and confidence in the project, providing a solid foundation for its development and growth. DigiToads appears to be a compelling investment opportunity with the potential for long-term success. DigiToads distinguishes itself through its distinctive position within the memecoin market. While dogs, notably Dogecoin, have garnered significant attention in…

Redditor up 25% after boldly taking out $59K worth of personal loans to buy BTC

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A Redditor and member of the r/CryptoCurrency community is claiming to be up 25% or $19,500, after taking out three personal loans worth a combined $59,000 to buy Bitcoin (BTC) over the past 18 months. According to the Redditor, whose account is crudely named “Vaginosis-Psychosis,” they now have a total of 2.65 BTC, which is worth $80,400 at current prices, and are betting big on the price of BTC hitting $100,000 by early 2025. In a June 30 post on r/CryptoCurrency, the user gave a run down on how they…

Singapore to broaden blockchain pilot project

The Monetary Authority of Singapore (MAS) has recently announced its plans to expand its blockchain experiment. The regulator revealed that it would soon add three asset classes to its ongoing industry pilot effort. This development was announced on June 26 as an extension of MAS’s existing Project Guardian program, which aims to explore and expand the applications of blockchain technology within the financial markets. It will encompass asset and wealth management, fixed income, and foreign currency. Project Guardian, scheduled for release in May 2022, will test the feasibility and effectiveness…

Institutional investors’ long-term outlook on crypto is confident, Binance Research shows

A recent survey conducted by Binance Research and Binance VIP & Institutional provides insights into the thoughts and preferences of institutional investors in the cryptocurrency market. The Institutional Crypto Outlook Survey gathered responses from 208 Binance institutional clients and VIP users, offering information about their attitudes, preferences, adoption, and motivations regarding cryptocurrency investments. The survey reveals that 63.5% of respondents are optimistic about the crypto market in the next 12 months. Additionally, 88.0% have a positive outlook for the next decade, indicating their long-term confidence in crypto. Regarding portfolio allocation,…

Mastercard unveils multi-token network – CryptoX

Global payments processor Mastercard has launched its Multi-Token Network (MTN) platform, a solution to foster interoperability within the blockchain ecosystem. Raj Dhamodharan, the head of crypto and blockchain at Mastercard, expressed the company’s vision for MTN as a foundational framework that ensures the security, scalability, and interoperability of transactions within the digital asset and blockchain ecosystems. While the announcement does not specify which cryptocurrencies will be supported, it does indicate that Mastercard is collaborating with select partners to enable transfers on public blockchains. Interestingly, the initial applications of MTN are…

Investors still waiting on $1.9M refund Logan Paul promised six months ago: CoffeeZilla

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Investors in Logan Paul’s troubled NFT gaming project CryptoZoo are reportedly still waiting for any specific details on the 1000 Ether (ETH) refund (worth $1.93 million at current prices) that was promised back in January. In a YouTube video posted on June 30, “internet detective” Coffezilla — the person who initially brought the project’s issues to light in December 2022 — asserted that Paul’s communication with the CryptoZoo community has dried up over recent months: “It’s been six months, so here’s a follow-up. Logan Paul has not paid back his…