Sweden Hits Crypto Miners with $90M Tax for Evasion

Sweden Hits Crypto Miners with $90M Tax for Evasion

In A Nutshell Sweden’s Tax Agency, Skatteverket, has demanded over $90 million in taxes from crypto miners operating within the country. This comes after an investigation spanning from 2020 to 2023, uncovering that a majority of the 21 scrutinized crypto-mining firms engaged in providing misleading or incomplete information to leverage tax incentives improperly. These malpractices…

Bitcoin NFT Volume Tops Ethereum, Shifts Market

Bitcoin NFT Volume Tops Ethereum, Shifts Market

In A Nutshell The digital asset sphere is witnessing a significant shift as Bitcoin overtakes Ethereum in NFT volume. Apecoin, associated with the Ethereum-based NFT collection Bored Ape Yacht Club (BAYC), experiences a downturn, reflecting broader trends in the NFT market and Ethereum’s declining dominance. Ethereum’s Diminishing NFT Dominance Historically, Ethereum has been the leading…

Shiba Inu Token Burn Fails to Boost SHIB Price

Shiba Inu Token Burn Fails to Boost SHIB Price

In A Nutshell The Shiba Inu (SHIB) network recently witnessed a significant token burn, with nearly 798 million tokens removed from circulation in just one week. Despite this aggressive attempt to induce scarcity and potentially increase SHIB’s price, the market’s response was contrary to expectations. The price of SHIB fell by 20% during the same…

EY Launches Blockchain Contract Tool for Efficiency

EY Launches Blockchain Contract Tool for Efficiency

In A Nutshell Ernst & Young (EY), a leading member of the “Big Four” accounting firms, has recently introduced an innovative solution called the EY OpsChain Contract Manager (OCM), which utilizes zero-knowledge proofs (ZK-proofs) on the Ethereum blockchain. This groundbreaking development is designed to aid private companies in managing complex contracts with enhanced efficiency, confidentiality,…

Web3 Ad Platform Teams Up with AppsFlyer for Innovation

Web3 Ad Platform Teams Up with AppsFlyer for Innovation

In A Nutshell The intersection of Web3 technology and advertising is witnessing a remarkable transformation with the strategic partnership between Addressable, a Web3 advertising platform, and AppsFlyer, a mobile analytics behemoth. This collaboration is set to redefine the approach towards marketing for Web3 applications by leveraging on-chain data to streamline and enhance user acquisition strategies….

ETF Fund Flows: Key to Decoding Market Sentiment

ETF Fund Flows: Key to Decoding Market Sentiment

In A Nutshell Exchange-Traded Funds (ETFs) represent a crucial aspect of the financial market, allowing investors to trade a collection of assets like cryptocurrencies on exchanges throughout the trading day. ETF fund flows, indicating the movement of money into and out of these funds, offer insights beyond simple performance metrics. They reveal investor sentiment, market…

Bitcoin Runes Launch: A New DeFi Era Despite Skepticism

Bitcoin Runes Launch: A New DeFi Era Despite Skepticism

In A Nutshell The imminent launch of Bitcoin Runes, alongside the Bitcoin halving, heralds a new chapter for fungible tokens on the Bitcoin network. Despite initial enthusiasm, a DeFi researcher, Ignas, predicts a potential decline in Runes’ value post-launch, akin to memecoins due to their initial lack of utility. However, there’s optimism for long-term prospects…

Bitcoin Volatility Spikes as Halving Nears, Says Kaiko

Bitcoin Volatility Spikes as Halving Nears, Says Kaiko

In A Nutshell The anticipation surrounding Bitcoin’s upcoming halving event, set for April 20, 2024, has sparked a notable increase in market volatility. Recent analytics have highlighted a significant rise in the Implied Volatility of Bitcoin options contracts expiring in April, jumping from 62% to 75% over a single weekend, as reported by Kaiko. This…