【Data Intelligence】
The current total market capitalization of cryptocurrencies is $1.3 trillion
According to data from CoinGecko, the current cryptocurrency market cap is $1.3 trillion, with a 24-hour increase of 1.3%, and a 24-hour trading volume of $42.7 billion. The current market value of Bitcoin accounts for 44.2%, and the market value of Ethereum accounts for 17%.
The total market value of metaverse-related encrypted assets is 13.65 billion US dollars
According to the latest data, the total market value of metaverse-related encrypted assets is 13.65 billion US dollars, and the 24-hour trading volume is 1.44 billion US dollars, a decrease of 18.05%. The top five NFT tokens by current market value are: Decentraland ($1.81 billion), ApeCoin ($1.80 billion), TheSandbox ($1.60 billion), AxieInfinity ($1.28 billion), THETA ($1.21 billion).
【 Regulatory News 】
Indian government to issue tax guidelines related to cryptocurrencies
The Indian government plansto issue a set of guidelines by July 1 for effective tax management of virtual digital assets (VDAs) after making some changes to the scope and definition of virtual digital assets (VDAs). Media reports said the Central Board of Direct Taxes (CBDT) had been asked to prepare the guidelines. According to sources, the government is unlikely to reduce the 1% tax deduction at source (TDS) that applies to almost all transfers of digital assets. It argues that TDS will help track and trace people who may profit from cryptocurrency transactions but would prefer not to show them on their income tax returns. Some industry representatives, including CoinSwtich Kuber CEO Sumit Gupta, have asked the government to reduce the TDS to a range of 0.01% to 0.05%. The 30% capital gains tax imposed on profits from crypto trading, including NFTs, through the 2022-23 Union Budget is also unlikely to be reduced. With some exceptions that may include hospitals using blockchain technology, the Treasury Department does not plan to offer exemptions.
Japan Justice Ministry Plans Amendment Laws to Confiscate Crypto Assets Used for Money Laundering
According to news on June 6, the Ministry of Justice of Japan has announced the revision of the Organized Crime Punishment Law to confiscate encrypted assets used for money laundering. The Japanese Ministry of Justice plans to gradually formulate the specific content of the amendment bill after discussions at the Rule of Law Review Conference in mid-2022. For example, it may discuss how to deal with cryptocurrency-specific "private keys" and other structures. Currently, Japanese law lists "real property, movable property and monetary claims" as assets that can be confiscated. Movable property refers to cash, commodities, household items, etc. other than real property such as land and buildings, and money claims refer to deposits, accounts receivable, and loans, and cryptocurrencies do not yet fall into these categories.
【Industry Trends】
CryptoPunk #3825 may be traded at 0.1 ETH due to "flashbot" operation
According todata from cryptopunk.app, CryptoPunk #3825 has been traded at a price of 0.1 ETH, or about $179.46. The seller is "0X8836c1" and the buyer is "0x51eac3". According to feedback from users in the encryption community, the NFT is one of 6039 male Punks, and the transaction price on March 22, 2022 was 80 ETH. This time it may be due to a misoperation that the "flashbot" executed the transaction. According to DappRader data, the current total transaction volume of CryptoPunks has reached 2.8 billion US dollars, and the market value is about 2.18 billion US dollars.
The floor price of shoes on the STEPN application Solana chain fell below 4SOL
According to the data on the Dune chain, the Move to Earn app STEPN added 3,606 new users yesterday, casting 6,513 pairs of shoes, a sharp drop in the number compared to before. The current floor price of shoes on the Solana chain has fallen to 3.9 SOL (about 150 USDT), a drop of more than 87% from the previous high point; the floor price of shoes on the BSC chain has dropped to 0.7 BNB (about 210 USDT), a drop of more than 95% from the previous high point. According to previous reports, STEPN announced that it will check the accounts in mainland China and will stop providing GPS and IP location services on July 15.
Brazil's digital currency implementation delayed until 2024
Projects to introduce digital currencies in Brazil have been delayed, according to the Central Bank of Brazil. Undernew plans surrounding the Digital Real project, the tests, which were due to start later this year, have been pushed back to 2023 due to the central bank's workers' strike. At a keynote event promoted by the Brazilian Banking Federation (Febraban), representatives of the bank said they intended to start the pilot by the end of the year, but the timeline has been pushed back considerably. However, testing is planned for 2023 until the second half of 2024.
Solana-based M2E blockchain game Walken will launch a public beta version on June 7
On June 6th, according to official information, Solana-based Move to Earn chain game Walken announced that it will launch a public beta version on June 7th. The public beta version is already available in the Apple App Store and Google Play. Download, applicable to iOS and Android mobile operating systems, if the test is successful, it will be officially released and launched WLKN Token at the end of June.
【Elite Viewpoint】
V God: Oppose the ban on PoW, and suggest the implementation of carbon pricing
On June 5, Vitalik Buterin, the founder of Ethereum, posted on social media against the ban on PoW, and pointed out that it is a bad idea for officials to select which specific applications can use electricity. A better approach would be to directly implement carbon pricing and use some of the revenue to compensate low-income users.
Bloomberg Strategist: Bitcoin Will Hit $100,000 by 2025
According to Bloomberg strategistMike McGlone, Bitcoin will reach $100,000 by 2025.
【What to watch today】
STEPN Official: After multiple DDOS attacks, short-term maintenance will be carried out
On June 5th, STEPN officially stated that in the past few hours, it has received multiple DDOS attacks. It may take 1 to 12 hours to protect the server and recover. It is recommended that users take a break during the maintenance period, otherwise the exercise may not be correct Record. Engineers are working hard to fix these problems.
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