U.Today - Federal Reserve Chair Jerome Powell's recent have stirred quite a discussion, not just on the traditional financial markets but also within the crypto ecosystem. In an unforeseen address, Powell suggested the potential for the central bank to pause its extended series of interest rate hikes, contingent on the continuation of recent progress on inflation. While his insights were primarily directed at long-term Treasury yields, the implications for the cryptocurrency , including Bitcoin and other digital assets, are noteworthy.

The sentiment on traditional financial markets often has a ripple effect on the crypto market. When traditional markets are expected to perform well or show stability, institutional investors are sometimes more inclined to diversify their portfolios and explore riskier assets, such as . Powell's indication of a potential pause in interest rate hikes can be seen as a stabilizing factor for traditional markets. If these markets respond positively, we might witness an inflow of funds into the #crypto sector as a diversification strategy.

With Powell's suggestion of maintaining current interest rates, there is a possibility of a lower yield on traditional financial instruments. This could bolster attractiveness as a store of value, prompting both retail and institutional investors to allocate more funds into Bitcoin.
The decentralized finance (DeFi) sector within the crypto ecosystem is particularly sensitive to interest rate changes. DeFi platforms offer yield farming and staking opportunities that can sometimes provide returns far exceeding traditional instruments. If the Fed holds interest rates steady, the yield disparity between traditional financial products and DeFi could widen.

The broader uncertainty surrounding global economic conditions, inflation rates and central bank policies often acts as a catalyst for investors to diversify their portfolios. Cryptocurrencies, being noncorrelated assets, serve as a natural choice for portfolio diversification.
#BTC #xrp #cryptonews #DeFi

🐸PEPE coin is just like another meme coin which does not hold any fundamental and intrinsic value and has no utility. In fact, it is regarded as the most “memeable” meme coin built on the Ethereum blockchain and works as an ERC token."
🐸PEPE coin does not have a formal team or any roadmap. It has been just casually created as a tribute to popular internet meme character known as “PEPE the Frog” which gained popularity in the early 2000s. 
Even with no fundamentals, 🐸PEPE has been able to enter the top 100 cryptocurrencies by market cap in just two weeks of its launch and presently ranking at number 70 position as per crypto website CoinMarketCap. PEPE coin first started trading on April 15, 2023 at a price of around $0.000000001 and now one 🐸PEPE coin is equivalent to $ 0.0000014, at the time of writing."
According to 🐸PEPE’s official website, “🐸PEPE is a meme coin with no intrinsic value or expectation of financial return. There is no formal team or roadmap. The coin is completely useless and for entertainment purposes only.”
On the contrary, 🐸PEPE has been designed to capitalize on the popularity of meme coins such as Dogecoin, Shiba Inu and others. That’s why 🐸PEPE coin is much like Doegcoin and Shiba Inu, the only difference is that the latter are dog-based coins and 🐸PEPE is a frog-based one.
"🐸PEPE Coin uses a deflationary mechanism in which a small percentage of tokens gets burnt with each transaction. This mechanism helps to create scarcity and also increase the value of the left tokens over a period of time.
Moreover, it uses a redistribution system in which a portion of every transaction is shared amongst the existing token holders which helps them to gather user engagement and long-term investments."
#pepecoin #ftx #pepe #crypto2023 #Binance

"The #Layer2 prominence of Web3 is a clear indicator of its transformative potential, highlighting its ability to bring about significant change. Like any emerging technology, achieving a balance between fostering innovation and ensuring financial stability is thus of paramount importance. Given this, integrating the evolving landscape of virtual digital assets (VDAs) into a well-structured tax system is a key consideration, regardless of how the VDA landscape unfolds."🤔🤔
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India’s taxation framework and the intent behind it
In recent years, India has found itself amid a promising Web3 landscape, characterized by a remarkable surge in startups. This evolution, however, has been accompanied by a taxation framework, one that has created implications within the country's Web3 ecosystem.
#trading
The Finance Act, 2022 introduced Section 194S, which imposed TDS at the rate of 1% on sale of VDAs in India from 1st July 2022. Further, a high rate of income tax of 30% was also introduced on any income from transfer of VDA from 1st April. There are also further restrictions on available deductions and treatment of losses, with no setoffs allowed against other crypto gains.

#CryptoTalks
The objective behind these measures was three-fold: tracking VDAs transactions by Indian residents, discouraging speculation and trading, and building guardrails around VDAs for safeguarding Indian interest and ensure financial stability.
#crypto2023
India’s engagement with VDAs remains unchanged
While India has made significant steps to standardise taxation, a high rate of TDS has caused a flight of volumes and users to platforms in foreign jurisdictions and the grey market. Following the announcement of a new tax regime, there was a shift of around Rs 32,000 crore of trade volume from domestic VDA exchanges to foreign ones from Feb-Oct 2022. Contribution of Indians to the volume on foreign VDA exchanges enabling peer-to-peer transactions was to the tune of Rs 80,000 crore between July and Oct 2022. In addition, the daily volume at compliant Indian exchanges has reduced by over 70-90%.
#BTC

#OrbsORBS +32%

#Loom NetworkLOOM +31.37%

#StorjSTORJ +11.37%

#TrustWalletTokenTWT +9.34%
#crypto2023

$BTC  Bitcoin and cryptocurrencies are delivering strong performance. While the rest of the global markets continue to decline, Bitcoin remains in its own lane, holding steady. If Bitcoin breaks and surpasses the 28,500$ range, no one can stop it anymore. If it falls below $26,000, it means it will continue to hover around the $24,000 range
#CryptoTalks #DeFiChallenge #BTC

btc downfall started 🤔??

"Bitcoin has been trading around the $27,700 level, possibly because of traditional markets calming down following a cooling US labor market," Edul Patel, CEO of Mudrex, said.

Ahead of the official US Non-farm payroll data this Friday, September's US Private Payroll data indicated a rise of 89,000 jobs instead of the projected 153,000 jobs #BTC
"The total volume in DeFi is currently $2.56 billion😱 10.62% of the total crypto market 24-hour volume. The volume of all stablecoins is now 😱$22.43 billion, which is 93.07% of the total crypto market 24-hour volume. #crypto2023
#trading #crypto #CryptoTradingBots

frax coin is down by 12%
Ape coin is down by 11%
Pepe is down by 10%
Compound is down by 9%
Gurve DAO is down by 9%
#crypto2023 #trading #crypto #BTC