Coindesk

Tax. The word may make you cringe, but it's also one you probably don’t want to ignore.Bitcoin (BTC) hit $100,000 for the first time in December 2024, and while you’ve probably had your fair share of “I told you so” moments with the crypto skeptics over the holidays, now is the time to make sure you’re clued in on the tax side of things if you’re planning to cash in on profits.It’s not just about keeping track of your own jurisdiction; you should stay aware of global rules as well, as your jurisdiction may adopt them in the future.Long-term Bitcoin holders are profiting — and the taxman is watchingWith the average long-term Bitcoin holder having paid around $24,543 for their...

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.The CoinDesk 20 is currently trading at 3956.13, down 0.5% (-21.14) since 4 p.m. ET on Tuesday.Three of 20 assets are trading higher.Leaders: SOL (+2.8%) and XRP (+0.2%).Laggards: ICP (-5.6%) and HBAR (-4.9%).The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.Source link

Dogecoin (DOGE) retraced Tuesday's gains while Solana’s SOL jumped 8% higher as crypto markets rebounded on Wednesday to reverse some losses from earlier in the week.DOGE fell 7.5% amid profit taking, data shows, to trade at 36 cents in European noon hours, paring gains after a jump from 34 cents to 38 cents on Tuesday — when it surged following the display of its token’s logo on the Elon Musk-led Department of Government Efficiency website.The website was later updated in Asian morning hours Wednesday to show another animated image of a dog. It was updated again in the afternoon to showcase only its name and a dollar sign.Crypto majors showed mixed movement as bitcoin (BTC), ether (ETH) and BNB Chain’s...

Hashprice, a metric coined by Luxor that gauges mining profitability, estimates the daily income of miners relative to their estimated contribution to the Bitcoin network's hash power. In other words, it is the expected value miners can expect from 1 TH/s of hashing power per day. According to Glassnode, hashprice is hovering above $62 PH/s, around the highest level since mid-December.What's driving the increase in hashprice? Well bitcoin (BTC) has surged to well over $100,000, a 56% increase in three months and has given the miners some relief. The network has also seen a slight increase in miner fees of late, roughly 12 BTC per day, the highest amount for over a month, partly driven by the network's inscription activity.Due...

By Omkar Godbole (All times ET unless indicated otherwise)Bitcoin remains well supported above $100,000 as it eyes record highs, buoyed by reports that the new SEC leadership has established a task force to develop a framework for crypto assets. Pundits have long said regulatory clarity could pave the way for further price appreciation.Gold's price rebound from December lows has also gathered pace and is now just 1% shy of setting new highs above $2,790 per ounce. That's unusual: Bitcoin typically rallies when the price of gold stagnates.Perhaps gold is saying the Fed will walk back on its hawkish December bias that signaled fewer rate cuts, helping keep BTC bid. And why not? Reports indicate that Trump's tariffs will be lighter...