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Daily Crypto News- El Salvador Reportedly Grants Tax Exemptions for Bitcoin (BTC) Investors

Daily Crypto News- El Salvador Reportedly Grants Tax Exemptions for Bitcoin (BTC) Investors

Anubha Anand

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El Salvador reportedly grants tax exemptions for Bitcoin (BTC) investors

In a move aimed towards attracting investors, authorities in El Salvador are reportedly set to exempt them from all forms of capital gains and income tax related to Bitcoin. Indications regarding this move began to gain wave following an announcement by one of the country’s Presidential Legal Counsel. 

Ethereum Must Clear $3,400 For Hopes of a Fresh Increase

Ethereum(ETH) is facing a major resistance near $3,400 against the US Dollar. ETH price could start afresh decline if it fails to clear the $3,400 resistance zone. Ethereum extended its decline below the $3,250 and $3,200 levels. The price is now trading well below $3,400 and the 100 hourly simple moving average.

BTC Upside Remains Highly Vulnerable At $47,000

Bitcoin(BTC) price bounced off a weekly low at $43,437, but the upside potential above $45,000 is shaky. Following a massive crash last week, Bitcoin extended the bearish leg below $46,000 on Monday, whereby a low was traded at $43,437 (data by Coinbase). Shortly after, a minor recovery came into the picture, allowing bulls to regain control during the Asian session on Tuesday.

Daily Crypto News- El Salvador Reportedly Grants Tax Exemptions for Bitcoin (BTC) Investors shopping goals SIP | BuyUcoin

Institutional traders flock to Solana as demand for ETH and BTC flattens

Institutions were betting big on Solana investment products last week, with SOL-tracking products attracting 86.6% of institutional inflows to digital asset products last week. Institutional traders have flocked to Solana (SOL) as demand for Ether (ETH) and Bitcoin (BTC) exposure has flattened, with SOL investment products representing a whopping 86.6% of total weekly inflows crypto investment products last week.

SafeMoon Price Rises 20% on Wallet Release

SafeMoon rose back into the top 100 cryptocurrencies by market capitalization.

Exactly three months after announcing a beta version of its crypto wallet for testing, developers with SafeMoon have released the wallet on the Google Play store. The price of the altcoin asset duly sprung upward 20% in a 24-hour span, as if headed to the moon.

Daily Crypto News- Cardano (ADA) Launches Smart Contracts After the Successful Hard Fork

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