CoinDCX Tells Users How TDS On Crypto Transactions Will Work; Shiba Inu Up 22%

All major cryptos were trading with little to moderate, except Shiba Inu, which rose by 22 per cent.

In preparation for the upcoming tax deducted at source (TDS) on crypto, which is applicable from July 1, 2022, CoinDCX has started intimating its users about the changes.

CoinDCX has explained various transaction details where TDS will be applicable and where it will not be.

INR-to-Crypto (F2C) Buy Orders: No TDS applicable
Crypto-to-INR (F2C) Sell Orders: 1 per cent TDS applicable on total order value
Crypto-to-Crypto (C2C) Buy Orders: 1 per cent TDS applicable on total order value
Crypto-to-Crypto (C2C) Sell Orders: 1 per cent TDS applicable on total order value

In other news, Microsoft, IKEA, Meta, Nvidia, Epic Games, Huawei, and others have formed a group for the future development of metaverse technology. This group is called ‘Metaverse Standards Forum’, and currently, Apple is not a part of it.

In order to build an open, inclusive, equitable metaverse at pervasive scale, a constellation of open interoperability standards is needed. The Metaverse Standards Forum has been formed to meet this need. Come join us!https://t.co/PRZRDltbU5 #metaverse #standards #collaboration pic.twitter.com/c1fXkJH39e
— Metaverse Standards Forum (@Metaverse_Forum) June 21, 2022

Cryptocurrency Prices

The global crypto market capitalisation went up by 0.19 per cent to $902.15 billion as of 8.30 am. However, the global crypto volume was down by 0.65 per cent to $70.95 billion, as per Coinmarketcap data.

Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $20,476.66, higher by 0.39 per cent in the last 24 hours. Ethereum (ETH) was down by 1.03 per cent to $1,105.79.

Among other significant coins, Cardano (ADA) was down by 3.97 per cent at $0.4681, Algorand (ALGO) was trading with a gain of 0.17 per cent at $0.3177, Solana (SOL) was trading with a gain of 1.58 per cent at $35.32, Binance Coin (BNB) rose by 0.41 per cent at $217.07, and Polkadot (DOT) fell by 2.44 per cent at $7.56.

Today’s top gainer was Metaxa (METAXA), which was up by 262.83 per cent at $0.000000669. The top loser was Spantale (AEL), which was down by 70.35 per cent at $0.05711.

Meme Coin And DeFi Prices

Dogecoin (DOGE) rose by 6.76 per cent to $0.0639. Its volume to market cap ratio stands at 0.1281. Rival Shiba Inu (SHIB) was up by a massive 21.29 per cent at $0.000009851.

Dogelon Mars (ELON) lost 1.07 per cent to trade at $0.0000002596, Floki Inu (FLOKI) gained 8.02 per cent at $0.000006189, and Samoyed Coin (SAMO) gained 7.45 per cent at $0.004823.

In the DeFi segment, YFI (yearn.finance) was up by 4 per cent at $5,117.33, and Terra Classic (LUNC) was trading with a loss of 1.2 per cent at $0.00005775. Avalanche (AVAX) was down by 2.53 per cent at $16.44, Uniswap (UNI) was trading with a gain of 7.8 per cent at $4.67, and Aave (AAVE) rose by 2.1 per cent at $64.20.

Blockchain Technology