With the cryptocurrency market on the verge of a significant upswing, investors are on the lookout for digital assets with high growth potential. Solana is in the spotlight for its rapid advancements and potential to surpass other cryptocurrencies. Picking the right digital currencies before the market reaches its peak could result in substantial returns. NOW Wallet reports rising transaction volumes for cryptocurrencies like SOL, ADA, XRP, and TRX. Solana Aims for a $265 Resistance as Bullish Momentum Builds Solana is displaying bullish momentum, with its relative strength index above 60 and a positive MACD level. Although it experienced an 8% dip last week, the cryptocurrency has gained nearly 50% over the past six months. Its current price fluctuates between $182 and $234, nearing the $265 resistance. Should the upward trajectory persist, Solana might target the next resistance at $318, representing a potential 30% increase from its current value. Transaction volumes have been rising, as noted by NOW Wallet, an all-in-one app designed for securely managing cryptocurrencies like Solana, without any custody or hidden fees. >>> Streamline and Expand Your Crypto Holdings Easily with NOW Wallet Cardano Under Bearish Influence Amid Recent Price Drop Cardano (ADA) is currently under bearish pressure, with its price ranging from $0.71 to $0.95, having fallen nearly 19% in the last week and about 29% over the month. The short-term average price is below the long-term average, indicating downward momentum. Although the strength index shows neutral activity, negative indicators point to a bearish trend. If the price falls below the $0.61 support, it could target the next support at $0.37. Alternatively, if buyers emerge, the price might aim for resistance levels at $1.09 and $1.32. Importantly, transaction volumes have been on the rise, according to NOW Wallet, a secure app for managing cryptocurrencies. >>> Streamline and Expand Your Crypto Holdings Easily with NOW Wallet XRP Eyes $3.50 Resistance as Bullish Momentum Grows XRP`s price is fluctuating between $2.29 and $3.04. Despite a 14% decline over the last week, it has seen an 8% increase over the month and a significant 338% surge over six months. Momentum indicators suggest a neutral market with a slight bullish inclination. If the price surpasses the $3.50 resistance level, it could climb to $4.25, marking a potential increase of over 40% from its current position. Notably, XRP transaction volumes have seen a rise, as reported by NOW Wallet, an app for securely storing, swapping, staking, and managing cryptocurrencies without custody. XRP can be held on NOW Wallet without registration and with no hidden fees. TRON Under Bearish Pressure but Targeting Key Resistance Levels TRON (TRX) is experiencing bearish pressure, with its price between $0.21 and $0.25, having dropped by 9% over the past week. The Relative Strength Index is at a neutral 51. If the price remains above the $0.20 support level, it could aim for the $0.27 resistance. Breaking past $0.27 might propel it towards $0.31, representing a potential 35% increase from the current price. The 10-day Simple Moving Average is $0.22, lower than the 100-day average of $0.24, indicating short-term weakness. Despite recent drops, transaction volumes have notably increased, as reported by NOW Wallet, an app for securely managing cryptocurrencies like TRON without custody or hidden fees. Conclusion In summary, Solana (SOL), Cardano (ADA), XRP, and TRON (TRX) offer distinct opportunities for investors and traders. Solana is notable for its fast transaction speeds and low costs. Cardano prioritizes sustainability and innovation. XRP is focused on revolutionizing cross-border payments. TRON targets decentralized applications and content distribution. For those considering investments in these cryptocurrencies, the NOW Wallet app is an excellent choice. It ensures privacy and security without requiring registration or holding user funds. NOW Wallet simplifies crypto management with straightforward fiat-to-crypto operations and supports the storage and quick exchange of thousands of tokens across major blockchains. Its built-in cross-chain swapping features make transactions easy and efficient.
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Indian Government Slaps 70% Taxes on Unreported Crypto Gains in New Amendment
Crypto traders in India could end up shelling out significant tax penalties if they don’t report their gains in a timely fashion. New legislation in the country of 1.46 billion people proposes that reporting entities must submit information regarding crypto transactions to India’s tax authority. Gains that are reported late could garner significant tax penalties. Reads the legislation , “A non-filer taxpayer can file updated [income tax return (ITR)] at any time for the previous year within 48 months from the end of the relevant assessment year. The additional income-tax liability for additional income disclosed in the updated ITR in different years is as below: (i) Ist Year (within 12 months from the end of relevant assessment year), it will be 25% of the aggregate of tax and interest payable. (ii) 2nd Year (after expiry of 12 months from the end of relevant assessment year within 24 months from the end of relevant assessment year), it will be 50% of the aggregate of tax and interest payable. (iii) 3rd Year (after expiry of 24 months from the end of relevant assessment year within 36 months from the end of relevant assessment year), it will be 60% of the aggregate of tax and interest payable. (iv) 4th Year (after expiry of 36 months from the end of relevant assessment year within 48 months from the end of relevant assessment year), it will be 70% of the aggregate of tax and interest payable.” Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Indian Government Slaps 70% Taxes on Unreported Crypto Gains in New Amendment appeared first on The Daily Hodl . Bitzo
Giant Company Continuously Continues to Accumulate This Altcoin: Applying MicroStrategy Tactics
Solana-focused investment firm Sol Strategies has significantly expanded its holdings by purchasing an additional 40,300 SOL between Jan. 19 and Jan. 31. The purchases, worth approximately $9.9 million, were made at an average price of $246.53 per token, according to the company’s press release. With this latest acquisition, the Toronto-based firm now owns a total of 189,968 SOLs worth approximately $40.89 million. The company`s average purchase price is approximately $178.39 per SOL. Sol Strategies, which filed to list on Nasdaq last month, sold $2.5 million in convertible notes. The proceeds were used to purchase an additional 6,564.57 SOL at an average price of $265.65 per coin. Related News: Famous Analyst Said, "Even If Everyone is Bearish on Bitcoin and Cryptocurrencies, I`m a Bull", Lists 12 Reasons The surge in investment in SOL comes amid the recent market decline, with Solana’s price trading at $215 at the time of writing, having suffered an 8.5% decline over the past week amid volatility in the cryptocurrency market. Formerly known as Cypherpunk Holdings, Sol Strategies is led by former Valkyrie Investments co-founder Leah Wald. The company has diversified its blockchain infrastructure investments by operating validators not only on Solana (SOL), but also on Sui (SUI), Monad (MONAD), and ARCH (ARCH). *This is not investment advice. Continue Reading: Giant Company Continuously Continues to Accumulate This Altcoin: Applying MicroStrategy Tactics Bitzo