Here are the top 5 crypto news for the day!
Let's dive into the news headlines one by one and see how they'll be affecting the crypto space as we know it, in the coming days.
Peter Brandt has expressed concerns about the crypto space and that the Biden administration may have undesirable effects on the firstborn cryptocurrency.
Sharing an article by Wall Street Journal proposing the gains in capitals, he noted that “It’s a mere consideration for now, but if the proposal is passed, it will raise the capital gains tax to almost 40% from the current 20% for investors who make $1 million or more. In some U.S. states, Brandt notes that it could be raised to 55%. The tax rate doubling will bring in $370 billion for government spending.”
The crypto market behavior is very volatile in nature. People tend to get greedy when the market is rising which results in FOMO (Fear of missing out). However, the descending graphs let investors doubt future investments.
The Crypto Fear and Greed Index is a popular tool used for computing the market sentiment, extending from high greed to fear. According to the statistic, the currency has plunged to 31, which is its lowest level since May last year.
Solana (SOL) has reached a new all-time high on April 25th at $48.46 as the blockchain ecosystem continues to expand. The cryptocurrency has been up 14% in the past 24 hours and 55% in the past week and currently ranks 14th as the largest cryptocurrency by market cap.
The token has soared a staggering 42.4% in the past week, reaching a new all-time high of $48.48. Within this year alone, Solana (SOL) has been up 2,800% while the project is only less than a year old.
At the start of the year, the coin was only worth $1.6. At $48 that’s an increase of 26x times.
Solana is already making waves in the crypto market. The project currently ranks within the top 20, with a total market cap of $12 billion.
The Oscars have decided to pay their last respects and homage to the late actor Chadwick Boseman through an NFT artwork by AdVenture Media.
Although there was a social media uproar after Anthony Hopkins received the award for his work in ‘The Father’ instead of the young late actor. The launch of his NFT is seen as an attempt to mitigate the outrage and pacify the angry fans.
Boseman died of a rare cancer last August and had been reserved a posthumous nomination for his work in Netflix’s ‘Ma Rainey’s Black Bottom,’ which was strongly favored to win coming into Sunday’s ceremony.
India’s corona virus relief package received a big donation from the co-founder of Ethereum, Vitalik Buterin. The funds donated approximately calculated to $600,000 in ETH and MKR. The proof of his 100 ETH donation and 100MKR valuing approximately $228,648 and $380,000 respectively are shared via his Twitter account.
Apart from the co-founder of Ethereum, many others donated a good number of Ethereum in response. Individuals including former Coinbase CTO and board partner at VC firm Andreessen Horowitz, Balaji Srinivasan, donated 21.74 ETH calculating approximately $50,000 to the fund.
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