General Market Outlook
After a couple weeks of steady growth, big spikes and dip recovery, it looks like the same might be coming again. Bitcoin (BTC) is holding above $9,000 and Ethereum (ETH) is floating right about $700. The big name coins like EOS, Cardano, WaltonChain (WTC) are all taking turns with growth of 10% or more in less than 24 hours. EOS (EOS) is down almost 10%, but had just about doubled over the past week. Many other coins from the top 100 are making gains of 20% or more. Aelf (ELF) is just short of up 30% in the past 24 hours right now.
50% Reduction in French Cryptocurrency Tax
Bitcoin and other cryptocurrencies are no considered “movable property” regarding French Tax law. This asset type refers to tangible or intangible things like cars, jewelry, patents or copyrighted materials. When sold, they’re taxed at a flat 19% rate. Previous regulation considered cryptocurrency sale “industrial and commercial profits,” which brough totals well over 50% for the highest earners. For those who mine cryptocurrency, classification will depend on volume, where commercial level mining operations will be taxed under the old “industrial and commercial profits” standard.
Japanese Exchange Coincheck Matches Stock Exchange Profits
The cryptocurrency exchange recorded a $432 Million fiscal year profit. Japan’s leading stock exchange ended with $657 Million. This total was made despite Coincheck refunding millions following a hack on their system. On January 26, 2018 Coincheck was liquidated of $532 Million worth of NEM. Their security was subpar. The organization was purchased last month by the Monex Group - a large Japanese securities trading company established in 1999 who plans on improving the security procedures on every level of the operation.
Ripple Expanding Use of RippleNet with xVia
Payment processing companies FairFX, Exchange4Free, RationalFX, UniPAY and MoneyMatch are adopting xVia. Ripple has several products to benefit companies with cross-border payment issues - xVia provides a standardized interface for global payments. Whether this will influence the price of XRP substantially is yet to be seen. Adoption of RippleNet is growing, however Ripple software and distributed leder technology (DLT) can be used without actually using the XRP token.
Top 5 Gainers
Vapers Coin (VPRC) +159.97% at $0.000367
Dignity (DIG) +96.24% at $0.161335
OX Fina (OX) +84.65% at $0.141238
HomeBlockCoin (HBC) +74.11% at $0.001392
OP Coin (OPC) +73.67% at $0.005028
Top 5 Losers
Dero (DERO) -34.22% at $2.58
Lightning Bitcoin (LBTC) -28.70% at $152.28
Bitcoin Plus (XBC) -23.95% at $73.81
SRCOIN (SRCOIN) -23.49% at $0.002733
GreenMed (GRMD) -22.96% at $0.174174
New Coins Listed
FreyrChain (FREC) listed to HitBTC
FinTruX Network (FTX) listed to HitBTC
Binance Token (BNB) listed to YoBit
Loom Network (LOOM) listed to YoBit
Taklimakin Coin (TKLN) listed to YoBit
StakeNet (XSN) listed to Cryptopia
HoloChain (HOT) listed to IDEX
By: BGN Editorial Staff