Bitcoin has fallen below the $20,000 mark for the first time since early January, following a significant sell-off that began late Thursday and extended into Friday morning. This comes as the broader cryptocurrency market experienced a sell-off driven mainly by negative news. With Bitcoin trading below the significant level of $20,000 on Friday, many may…
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Bitcoin ordinals have been the most hyped-up Web3 trend of 2023 so far. How do ordinals compare to traditional NFTs, and what are the opportunities? Ordinals vs. traditional NFTs Ordinals are different from traditional NFTs from a technical design perspective. There are several features that make the pricing for ordinals a different exercise. Bitcoin ordinals,…
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Amazon’s foray into the NFT and Web3 space is eagerly anticipated, with reports indicating that the tech giant is gearing up to launch its new initiative next month. As per sources, around fifteen collections are expected to be available from the launch date of March 24, under the “Amazon Digital Marketplace” tab…. Read More: NFTs…
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Israel’s Tax Authority has arrested two NFT creators for charges of tax evasion and money laundering after allegedly failing to report $2.2 million in sales throughout 2021. According to a recent report by Israeli news outlet Ynetnews, Avraham Cohen and Anthony Pollack, the owners and operators of NFT project holyrocknft.com, have been arrested for not reporting millions…
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Israel’s tax authority is after two creators of non-fungible tokens (NFTs) suspected of failing to report almost $2.2 million in revenue. The news of the investigation comes after the recent arrest of a graphic designer from Tel Aviv accused of similar offenses. Thousands of ‘Western Wall NFTs’ Allegedly Sold Without Tax Reporting Israel Tax Authority…
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After a significant spike in February, sales of non-fungible tokens (NFTs) in the last seven days are 32.32% lower than last week. Of the 19 different blockchains, Ethereum accounted for $148.56 million out of the total $186.20 million in NFT sales settled this week. NFT Sales Decline Following February Spike in Digital Collectible Purchases During…
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As the number of Bitcoin-based Ordinal inscriptions nears the 300,000 mark, Galaxy Digital’s research team published a report on the subject that says the market size of non-fungible tokens (NFTs) built on Bitcoin could reach $4.5 billion over the next two years. The researchers at Galaxy think that new use cases stemming from the inscription…
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While the true identity of Satoshi Nakamoto, the pseudonymously named creator of Bitcoin remains unknown, his primary purpose of creating the flagship cryptocurrency has never been a mystery. He created Bitcoin as a peer-to-peer version of electronic cash to take back financial control from institutions serving as trusted third parties to process electronic payments. … Read…
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The Economic and Commerce Development Department of Puerto Rico (DDEC) has issued a document in which it defines the rules that blockchain projects must follow to receive tax benefits that the state offers companies. The action seeks to create an “atmosphere of certainty and stability” for blockchain companies, according to DDEC Secretary Luis Cidre. Puerto…
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The Bitcoin blockchain has 40.49 gigabytes (GB) to go until it reaches half a terabyte (TB), and with the recent trend of Ordinal inscriptions, it’s likely to get there faster. The average block size reached a high of 2.52 megabytes (MB) on Feb. 12, 2023, but block sizes have subsided and dropped to an average…
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