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ErisX now available on crypto data platform Kaiko

Kaiko, a cryptocurrency data platform, announced today that its clients are now able to backtest trading strategies leveraging ErisX’s spot and futures market data as well as perform research and analysis. ErisX trading data and instruments can now be viewed on Kaiko’s Instrument Taxonomy page here. ErisX provides access to crypto without sacrificing security, transparency, […]

CryptoNinjas.net » ErisX now available on crypto data platform Kaiko

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Kaiko, a cryptocurrency data platform, announced today that its clients are now able to backtest trading strategies leveraging ErisX’s spot and futures market data as well as perform research and analysis. ErisX trading data and instruments can now be viewed on Kaiko’s Instrument Taxonomy page here.

ErisX provides access to crypto without sacrificing security, transparency, or the protection of market surveillance and regulatory oversight. With this integration, ErisX’s full suite of products will be available via Kaiko’s professional market data platform including cash-settled Bounded Futures, physically settled Bitcoin and Ether futures, as well as spot contracts for Bitcoin, Bitcoin Cash, Ether, and Litecoin.

“High-quality market data is the lifeblood for investors and traders in testing and honing their research and strategies. We are pleased that Kaiko has integrated ErisX into its platform to further enrich the data available to its customers for performing these critical activities.”
– ErisX CEO, Thomas Chippas

ErisX is the only U.S. based exchange where customers can trade spot and regulated futures on cryptocurrencies on one screen.

“We strive to provide the highest quality market data to our enterprise clients, and we are confident that this integration will strengthen our core data offering. ErisX is one of the leading exchanges catering for professional traders, and we are pleased to begin redistributing their trade and order book data.”
– Kaiko CEO,  Ambre Soubiran

Source: https://www.cryptoninjas.net/2021/01/14/erisx-now-available-on-crypto-data-platform-kaiko/

Blockchain

Why Uniswap, Cardano, Solana, and Dogecoin Could Become Best-Performing Cryptos Of 2021

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Why Uniswap, Cardano, Solana, and Dogecoin Could Become Best-Performing Cryptos Of 2021

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The year has been a good one so far for altcoins. There’s no denying Bitcoin’s pedigree and influence on the market as it is still the biggest cryptocurrency by far in the crypto space. Having said that, there are a lot of altcoins or relatively smaller and cheaper cryptocurrencies which have attracted investors and newbies looking to diversify their crypto portfolios. As crypto adoption continues to grow so has the interest in it which has been evident in the last few months. Institutional interest is at an all-time high as many traditional companies, firms and institutions are boarding the cryptocurrency bandwagon.

There are a lot of altcoins putting up impressive numbers guaranteed to give back good yields and this article sheds light on four of them.

Uniswap (UNI)

Uniswap is one of the dApps based on the Ethereum blockchain. The project allows users to trade Ethereum tokens through liquidity pools. The DeFi coin boasts of being the first decentralized exchange with the option of a margin and leverage trading.

The UNI coin has two main services, thus delivering and utilizing liquidity. Although it is new in the crypto space as it was released into the market last year, its performance has made it one of the leading DeFi coins on the market.

UNIUSD
UNIUSD Chart By TradingView

Uniswap v3 was released days ago, an upgrade of its protocol and aims to provide better oracles, new fee tiers as well as give users more control over the liquidity they provide. Many analysts believe the coin is expected to blow and with its price at $36, it would be a steal compared to others.

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Cardano (ADA)

Cardano has been one of the popular coins on the crypto market for some while. Its network has a smaller footprint which makes it flexible, more adaptable, and secure. Transactions are faster as it requires less energy, and have interoperability and scalability among its pros.

ADAUSD
ADAUSD Chart By TradingView

Cardano’s recent update has equipped it with the ability to build smart contracts which have attracted a lot of dApp developers, a sector that is blowing up this year. The coin is 4th on the crypto ladder with a trading price of $2.32 which has seen a 27.35% rise within the last seven days.

Solana (Sol)

Another coin that is making a name for itself in the fast-growing DeFi ecosystem is Solana.

Launched in March 2020, the digital project has enjoyed a steady rise, making its way up the crypto ladder with impressive runs. Sol is currently at 16 on the crypto ladder with an impressive market valuation of $14 billion.

SOLUSD
SOLUSD Chart By TradingView

Its Proof-of-History algorithm has the highest speeds of a transaction and offers relatively cheaper transaction fees as compared to other coins such as Ethereum. The digital asset currently trades above $50.

Dogecoin (DOGE)

DOGE has defied many odds to become one of the fastest-growing digital coins on the crypto market presently. Created as a meme coin back in 2013, it has seen a major resurgence taking its price from $0.0076 to an all-time high of $0.7 in less than 21 days led by Elon Musk’s never-ending endorsements.

DOGEUSD
DOGEUSD Chart By TradingView

Dogecoin has seen a surge of over 8000% so far this year and remains one of the cheapest coins to buy. It is currently trading at $0.5, and despite the many controversies surrounding DOGE, it does have what it takes to yield massive progress if adopted by Tesla for payments.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://zycrypto.com/why-uniswap-cardano-solana-and-dogecoin-could-become-best-performing-cryptos-of-2021/

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Invested In $DOGE? Here’s How To Do Your Crypto Taxes

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Invested In $DOGE? Here’s How To Do Your Crypto Taxes

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As a result of the crypto market having grown at a staggering pace over the course of the last year or so, many individuals have been able to rake in handsome profits thanks to their digital currency investments. To put things into perspective, since the start of 2021, the capitalization of this fast-evolving industry has increased from $1 trillion to over $2.3 trillion. As a consequence, Bitcoin and Ether are now worth more than companies such as Alibaba, Tencent, Facebook, Walmart, MasterCard, Bank of America, amongst others.

While all of this growth is fantastic in and of itself, the inflow of such massive capital has attracted the attention of regulators all over the globe. For example, since 2018, the United States Internal Revenue Service (IRS) has been warning investors about being diligent about declaring their crypto returns. 

In fact, in 2019, the government body issued warning letters to more than 10,000 taxpayers who had performed crypto transactions but may have failed to report their income or pay taxes owed on the same. That said, crypto accounting is easier said than done since most of the guidelines when it comes to keeping a tab on one’s digital assets are quite complex and can include a lot of physical/mental effort.

So how does crypto taxation actually work

Straight off the bat, it needs to be made clear that any dealings one may have had with cryptocurrencies in the past may be liable for taxation. As an example, say a person has 10 BTC. Of the lot, he uses 3 for buying pizzas, 4 for purchasing certain gadgets, and the rest for converting into fiat. 

For each of these separate transactions, the government expects the individual to maintain the dollar equivalent value for each tx and compute their net dollar income in relation to their total crypto holdings. On the basis of this aggregated data, a person can compute his/her net liability.

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Also, to maintain one’s records in an appropriate manner, it is of utmost importance that individuals understand how exactly their tokens are taxed. Say for example, if a cryptocurrency is acquired as payment for providing someone with a service of any sort of good, the gains are taxable as ordinary income.

In another case, say if a token is acquired from a hard-fork or airdrop, it is again treated as a medium of ordinary income. Alternatively, if a cryptocurrency is purchased with the intention of it being used as an investment vehicle, then the taxation of such an asset is determined by its holding period. 

So, say a token is held for less than a year, the net receipts are viewed as regular income but still subject to certain state levy’s. On the other hand, If the holding period has exceeded twelve months, the profits accrued are treated as capital gains tax and can potentially incur an added 3.8% tax on net investment income.

Automated platforms can make crypto taxation a breeze

Even though counting for one’s digital transactions can be quite a cumbersome task, there are now many tax automation platforms that are available in the market today. For example, some white-labeled cryptocurrency dashboards — such as Atani — have been designed to automatically download and store all of an investor’s detailed balance and transaction histories from multiple leading exchanges and wallets in one place.

After collection, this data can be transferred and processed, subsequently converted into detailed reports that can be utilized by CPAs in order to accurately determine which of their client’s cryptocurrency transactions can be classified as taxable events. Furthermore, since Atani’s operational framework is totally scalable, it can be employed by small-scale investors as well as larger retailers with the same level of ease.

Thanks to the use of such applications, complex return filings, which can typically take hours to process, can be completed within a matter of minutes, thus allowing investors to not only save on a lot of time but also bypass a lot of the mental and physical stress that usually comes with doing one’s taxes manually.

Looking ahead

As the crypto market continues to attract the attention of authorities across the globe, it stands to reason that as head into a cashless, digital future, more and more businesses operating within the blockchain/crypto sector may have to start getting their digital asset accounts in order. The best way to do that is through the use of platforms that are capable of monitoring, tracking all of one’s trades in a completely automated fashion.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://zycrypto.com/invested-in-doge-heres-how-to-do-your-crypto-taxes/

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WOOFY, SHIB, ELON, Dogecoin: Memecoins are ideal for traders looking to make this move

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The Dogecoin narrative is gaining popularity and interest every day, even as the altcoin continued to trade at the $0.51 level. Though the price has dropped over 20% in the past week, DOGE’s concentration by large HODLers is nearly the same, at 65% based on on-chain data from intotheblock.

The increased demand for memecoins with high short-term ROI and volatility is met by an increase in the number of memecoins. WOOFY, SHIB, ELON among others clocked double-digit ROI before a price drop.

Currently, Ethereum’s rally alongside top altcoins is the key factor ushering in a new alt season with memecoins in the top 100 based on market capitalization. Bitcoin continues to remain rangebound at the $50000 level and DeFi tokens are rallying alongside altcoins.

Why the memecoin rally is taking an interesting turn

Top 5 MEMEcoins based on market capitalization || Source: Coinmarketcap.com

Among the top 25 altcoins based on market capitalization, barring a handful, altcoins have low volatility and are largely rangebound. Most of the top altcoins that offered high returns in the past 4 weeks are now consolidating. MATIC (+139%), ADA (+42%), DOT (14%), XLM (14%), these altcoins have offered double-digit returns in the past week.

This could be a factor driving traders towards memecoins, with a shorter turnaround time on ROI. Memecoins are ideal for traders looking to exit positions within hours, or days of buying. Currently, traders’ sentiment on DOGE is bearish; however, for other memecoins, it is neutral or bullish.

This is anticipated to be further bullish following the increase in trade volume and further exchange listings of memecoins. Current trade volume is a metric that signals a long-term bearish impact; however, despite a drop in this metric, memecoins are resisting a cascading sell-off.

Further, it is likely that accumulation is ongoing for memecoins, based on sentiment of crypto Twitter influencers and google search trends. Google search trend for DOGE is up every few days, just as it is for other memecoins.

Why the memecoin rally is taking an interesting turn

Search for Dogecoin || Source: Google Trends

The inflow of funds to memecoins hasn’t dropped, and the price is expected to recover based on on-chain metrics and demand. Since the concentration by large HODLers is directly linked to volatility for most altcoins, the current phase of consolidation is likely to be followed by accumulation and the rally. This is an interesting turn of events in the current alt season.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/woofy-shib-elon-dogecoin-memecoins-are-ideal-for-traders-looking-to-make-this-move

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