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Cryptocurrency prices today: Bitcoin, ether gain while dogecoin, Shiba Inu slip

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Cryptocurrency prices today: Bitcoin, ether gain while dogecoin, Shiba Inu slip

Cryptocurrency costs as we speak continued to realize with the world’s largest and hottest digital token Bitcoin was buying and selling greater than a per cent increased at $17,106. The worth of bitcoin peaked at practically $69,000 in November 2021 earlier than falling to round $17,000 by mid-June 2022, the place it’s nonetheless hovering now.

The worldwide cryptocurrency market cap as we speak remained under the $1 trillion mark, even because it was up within the final 24 hours to $897 billion, as per the info by CoinGecko.

“Most cryptocurrencies rose on Wednesday after the Federal Reserve Chair Jerome Powell signaled the tempo of interest-rate may decelerate a bit. After buying and selling a lot of the previous month under the $17,000 stage, Bitcoin traded increased as market members reacted to Powell’s remarks. If the value strikes above the present stage, the following resistance can be $17,622. Nevertheless, if it falls under that stage, BTC would possibly consolidate between $15,476 and $16,910. The second largest cryptocurrency, Ethereum, additionally rose above the $1,250 stage. This means an increase in demand. The subsequent resistance of ETH would lie at $1,335,” mentioned Edul Patel, CEO and Co-founder, Mudrex.

Alternatively, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, additionally rose by practically a per cent to $1,283. In the meantime, dogecoin worth as we speak was buying and selling greater than 4% decrease at $0.10 whereas Shiba Inu was down over 2% at $0.000009. 

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Different crypto costs’ as we speak efficiency had been blended as Binance USD, Avalanche, Tether, Terra, Solana, Uniswap, Tron, Polygon, Chainlink costs had been buying and selling with positive factors over the past 24 hours whereas ApeCoin, Litecoin, Stellar, XRP Polkadot, Cardano slipped.

The European Central Financial institution (ECB) mentioned on Wednesday that Bitcoin is being artificially propped up and shouldn’t be legitimised by regulators or monetary corporations because it heads for ‘irrelevance’. A string of scandals together with the collapse of the FTX trade this month has given critics amongst central bankers and regulators ammunition to struggle again.

In a weblog put up utilizing unusually scathing language, the ECB mentioned bitcoin’s current stabilisation was “an artificially induced final gasp earlier than the street to irrelevance”.

(With inputs from businesses)

The views and suggestions made above are these of particular person analysts or broking corporations, and never of Mint.

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Crypto

5 Reasons to Invest in Crypto When You’re Retired — And 5 Reasons to Avoid It

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5 Reasons to Invest in Crypto When You’re Retired — And 5 Reasons to Avoid It

As cryptocurrency continues to mature as an asset class and Bitcoin reaching new highs, more retirees are considering whether digital currencies deserve a place in their retirement portfolios. The debate over investing in crypto for retirement has intensified as inflation and cost of living depletes savings.

However, this decision involves careful consideration of both compelling opportunities and significant risks.

According to Kiplinger, some financial experts now recommend cryptocurrency for diversification in retirement accounts. Cryptocurrency often moves independently of traditional stocks and bonds, potentially providing valuable diversification during market downturns. For retirees who have most of their wealth in conventional assets, a small crypto allocation could reduce overall portfolio volatility.

With retirees particularly vulnerable to inflation’s impact on fixed incomes, cryptocurrency’s potential as an inflation hedge becomes attractive. Bitcoin’s limited supply of 21 million coins creates scarcity similar to precious metals, potentially protecting purchasing power over time. Unlike cash or bonds that lose value during inflationary periods, crypto assets may maintain or increase value as traditional currencies weaken.

Despite volatility, cryptocurrency has demonstrated remarkable long-term growth potential. Retirees focused on leaving a larger inheritance might allocate a small percentage to crypto for its upside potential. Even modest gains could significantly benefit beneficiaries, while limiting exposure prevents catastrophic losses to essential retirement funds.

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According to The Wall Street Journal, Fidelity’s decision to allow Bitcoin in 401(k) accounts highlights the tax advantages of holding cryptocurrency in retirement accounts. Crypto held in traditional IRAs or 401(k)s grows tax-deferred, allowing compounding without annual tax consequences. While eventual withdrawals face ordinary income tax rates, the ability to trade between different cryptocurrencies without immediate tax implications provides flexibility that taxable accounts don’t offer.

As governments worldwide increase money printing and debt levels, cryptocurrency offers exposure to an alternative monetary system. Retirees concerned about long-term currency stability might view crypto as insurance against potential dollar devaluation or economic instability over their retirement years.

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HMRC to Require Crypto User IDs for Tax Starting 2026 – Regulation Bitcoin News

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HMRC to Require Crypto User IDs for Tax Starting 2026 – Regulation Bitcoin News
The United Kingdom’s tax authority will implement new regulations starting January 1, 2026, requiring crypto asset users to provide tax identification numbers and other personal information to service providers. Streamlining Tax Assessments and Penalties The United Kingdom’s tax authority, His Majesty’s Revenue and Customs (HMRC), has announced new regulations that will require crypto asset users […]
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Truth Social Files for Cryptocurrency Blue-Chip ETF

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Truth Social Files for Cryptocurrency Blue-Chip ETF

Truth Social, the social media platform backed by former U.S. President Donald Trump, has submitted an application for a cryptocurrency blue-chip ETF S-1 filing. This move marks a significant shift for the platform, which has been primarily known for its social media presence, into the realm of cryptocurrency investments. The filing indicates that Truth Social is aiming to capitalize on the growing interest in digital assets, particularly among its user base, which includes a significant number of individuals who are already engaged with cryptocurrencies.

The Trust’s assets are primarily composed of Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), and Cronos (CRO) held by the Trustee. Under the terms of the Trust Agreement, the Trust will allocate its assets to a percentage of the portfolio assets (allocation ratio) initially expected to be approximately 70% Bitcoin, 15% Ethereum, 8% SOL, 5% CRO, and 2% XRP. This allocation reflects a strategic focus on blue-chip cryptocurrencies, which are seen as more stable and less speculative compared to smaller, more volatile tokens.

The decision to file for a cryptocurrency ETF comes at a time when the cryptocurrency market is experiencing renewed interest. The market has seen a resurgence in activity, driven by factors such as declining interest rates and a more crypto-friendly regulatory environment. This shift has led many investors to reconsider their positions in cryptocurrencies, particularly in blue-chip tokens like Bitcoin and Ethereum.

The filing for a cryptocurrency ETF is a significant step for Truth Social, as it allows the platform to offer its users a more diversified investment option. By providing access to a blue-chip cryptocurrency ETF, Truth Social can attract a broader range of investors who are looking for a more secure and regulated way to invest in digital assets. This move also positions Truth Social as a forward-thinking platform that is adapting to the evolving financial landscape, where cryptocurrencies are becoming an increasingly important part of the investment ecosystem.

The submission of the S-1 filing is a crucial step in the process of launching an ETF. It involves providing detailed information about the fund’s structure, investment strategy, and risk factors to regulatory authorities. Once approved, the ETF will allow investors to gain exposure to a basket of blue-chip cryptocurrencies without having to directly purchase and manage individual tokens. This can be particularly appealing to investors who are new to the cryptocurrency market or who prefer the convenience and security of an ETF.

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The filing also highlights the growing integration of cryptocurrencies into mainstream financial products. As more platforms and companies enter the cryptocurrency space, the demand for regulated and secure investment options is likely to increase. This trend is driven by the recognition that cryptocurrencies offer unique benefits, such as decentralization, transparency, and the potential for high returns, which make them an attractive addition to traditional investment portfolios.

In summary, Truth Social’s submission of a cryptocurrency blue-chip ETF S-1 filing is a strategic move that reflects the platform’s commitment to innovation and its recognition of the growing importance of cryptocurrencies in the financial landscape. By offering a regulated and secure investment option, Truth Social can attract a broader range of investors and position itself as a leader in the evolving world of digital assets.

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