Bitget, a crypto derivatives exchange, has made its debut in the Indian market. They have made their entry into India at a time when crypto investors and exchanges across the country are grappling with the regulations that impose a 30 per cent tax on crypto income.
Bitget, however, is positive that its launch in India will not be significantly affected by tax regulations. In an effort to make crypto transactions easier, Bitget has teamed up with Koinly, a renowned free crypto taxation software that can be used to calculate taxes in India and 19 other countries, according to various media reports.
Sandra Lou, CEO and co-founder of Bitget, says, "We've received an overwhelming demand for support from India." At Bitget, we're constantly looking to grow and expand by creating a safe and transparent environment to drive mass adoption.
In another development, an NFT Marketplace was launched in Ho Chi Minh City, Vietnam, under the OpenLive project. It is the first digital technology platform in Southeast Asia to exchange, buy, and sell NFT assets, www.thestar.com, a Southeast Asia-based media platform, reported.
The price of Bitcoin in the cryptocurrency market fell by 3.18 per cent in the last 24 hours, and it was trading at $39,100.85 at 4:30 pm IST. Its dominance in the crypto market is currently at 41.31 per cent, up by 0.02 per cent in the last 24 hours, according to Coinmarketcap.com.
In the last 24 hours, Ethereum (ETH) was trading at $2,898.21, down by 3.32 per cent, while Binance Coin (BNB) fell 1.94 per cent in the same period, and was trading at $392.29. Solana (SOL) was down by 0.46 per cent to $99.83, while Cardano (ADA) was down by 4.64 per cent to $0.8453.
At 4:30 p.m., the most popular meme coin, Dogecoin, was down by 12.32 per cent at $0.1399 on Coinmarketcap.com.
Its rival, Shiba Inu, was down by 3.57 per cent, and it was trading at $0.00002331. Samoyedcoin was down by 9.50 per cent, and was trading at $0.01607, while Dogelon Mars was down by 0.03 per cent, and was trading at $0.000001041.
According to Coinmarketcap.com, the global crypto market cap was at $1.80 trillion, a decrease of 3.29 per cent in the last 24 hours, while the total crypto market volume was $100.45 billion, up by 7.27 per cent.
CATCOIN (CATS) became the biggest gainer, recording a rise of 1009.79 per cent. It was trading at $0.0000000104 at 4:30 pm, according to Coinmarketcap. In contrast, the Energy Ledger (ELX) witnessed the maximum loss, falling 99.56 per cent. It was trading at $0.00003269.