Dogecoin co-founder Billy Markus has opined that 95% of cryptocurrencies are “scams and garbage” in a recent tweet.
Officials from the Reserve Bank of India (RBI) have reportedly sounded the alarm bells again over crypto adoption, which they claim will ultimately lead to the “dollarization” of the local economy.
Portugal, one of the countries considered a crypto tax haven due to its absence of crypto-related taxation, is preparing to change this policy. Fernando Medina, minister of finance of Portugal, stated that the country is working on a framework to allow the taxation of cryptocurrency income gains following the principles of “justice” and “efficiency,” and declared that there cannot be gaps for any income gains to be obtained without taxation.
Ackman’s comments come in wake of the Terra blockchain losing most of its value in the span of a few days, as the de-pegging of its UST stablecoin cause a massive bank run.
Over the past year, NFT has become one of the trends along with DeFi. As indicated by the aggregator DappRadar, in 2021, total sales on NFT marketplaces amounted to at least $ 22 billion.
ATOM has so far rallied by more than 30% from its latest local low. The cyptocurrency extended its downside during last week’s cryptocurrency market crash, and the healthy recovery might be a sign of things to come.
LUNA price analysis for May 17, 2022, comes on a very bearish note for the coin with low chances of recovery as it seems that the project has lost the trust of investors from all around the world. In the last 24 hours, we have seen the token drop more than 30% and the chances of reclaiming even $1 seem slim let alone the all-time high. Furthermore, the recovery plan of creating a hard fork of Terra called TERRA2 might note work as pointed out by the CEO of Binance.
The world’s largest cryptocurrency Bitcoin (BTC) witnessed a brutal crash last week along with the collapse of the Terra ecosystem. Since then, the Bitcoin price has been flirting around $30,000 but has failed to give a daily close above it.