Welcome to another edition of Today’s crypto NFT!! If you enjoy riding cryptocurrencies, NFTs, and emotional roller coasters, this is the place to go.
Can the cryptocurrency winter finally be solved? Did Gandhog NFT see the shadow, and did anyone buy the shadow for $ 250,000? And most importantly, are you ready for the crunch? let’s start.
India proposes a ban on cryptography
The Indian government notified Parliament on Monday of its intention to ban the country’s cryptocurrencies. India is the second largest Internet market in the world, suggesting that this move could have a significant impact on crypto investors’ profits.
India’s Treasury Minister Nirmala Sisaraman said on Monday that the Reserve Bank of India expressed concern about “the impact of cryptocurrency destabilization on national financial and financial stability” and recommended “on the legal framework for this sector.” Stated. “
The Government of India has been trying to regulate and govern cryptocurrency transactions for several years. April 1, country Enforce financial lawTax cryptocurrencies and NFT transactions and make a profit with a flat income tax rate of 30%.
Bitcoin miners end their positions all at once
Bitcoin miners have closed their Bitcoin positions all at once. New data from blockchain analyst CryptoQuant shows that 14,000 Bitcoins (more than $ 300 million at current prices) were transferred from the miner’s wallet in one day. Prior to the massive escape, miners have steadily offloaded their ciphers. In the past few weeks, analysts have seen the largest decline in Bitcoin positions since January 2021.
This “miner surrender” Tactics by miners to sell previously mined coins To cover the ongoing mining costs.
Has Bitcoin bottomed out?
BTC reached the $ 22,000 mark on Monday and has been fluctuating between $ 21,000 and $ 22,000 since then. The price of the flagship cryptocurrency has risen steadily from the 2022 bottom of $ 19,000 in June.
After the decline of Bitcoin and the stability of the next two months, investors and speculators are asking one important question. Let the code hit the bottom??
Bitcoin has remained at its highest level since mid-June sold-outs lowered its largest cryptocurrency from $ 30,000 to $ 18,000, one-third of its all-time high of nearly $ 69,000 eight months ago. I am changing hands with less than. Barron’s.
Improving the macroeconomic situation could help Bitcoin find its bottom. The fear of recession is beginning to recede. This means that analysts have a clearer lens that allows them to see the state of the crypto market.
Congressman Requests Cryptocurrency Mining Energy Usage Report
Democrats want a more robust energy usage report on companies mining cryptocurrencies.
The Environmental Protection Agency and the Department of Energy want to request more energy usage reports to limit the impact of cryptocurrency mining on climate change.
and Friday’s letter to the Biden administration, Democratic lawmakers said the government must intervene to limit the impact of cryptocurrency mining on climate change. According to CNBC, the information about the energy capacity collected by the seven crypto mining companies is “obstructive.”
According to the senator and representative who wrote the letter, the current lack of regulations and reporting requirements on cryptocurrency mining limits the government’s understanding of the extent of environmental damage.
Ethereum was just 50% pumped – what’s next?