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Prosper (PROS) and OMG Network (OMG) Price Surge, Yield (YLD) Price Heading Towards ATH

OMG Network , Yield ,

The post Prosper (PROS) and OMG Network (OMG) Price Surge, Yield (YLD) Price Heading Towards ATH appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

The crypto space astonishes with new price movements every new day. The major assets like Bitcoin, Ethereum, Polkadot, XRP price, etc, had a massive rally and appears that all have successfully sustained above their respective levels.  With the narrow trend of Bitcoin price and Ethereum price, other Altcoins initiated their rally. Crypto assets like Prosper …

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The crypto space astonishes with new price movements every new day. The major assets like Bitcoin, Ethereum, Polkadot, XRP price, etc, had a massive rally and appears that all have successfully sustained above their respective levels. 

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With the narrow trend of Bitcoin price and Ethereum price, other Altcoins initiated their rally. Crypto assets like Prosper (PROS), OMG Network (OMG), Yield(YLD), etc jump with a huge margin.

Prosper (PROS) Price Forms a new ATH

Prosper (PROS) price

The token got listed on Uniswap Interface and rallied magnificently more than 100% with a massive influx of liquidity. The trading volume spiked nearly 14,316.25% with the listing to touch $3,548,193 within a couple of days.

The price at the time of inception was just $0.3 which rallied to the current levels around $1. The market capitalization also hit a 100% jump to reach above $4 million. However, with just 3,891,300 tokens out in circulation out of 100 million, the PROS price is expected to hit $5 in the coming days.

Technical Specifications

  • The current resistance levels lie at the ATH, after breaking these resistance levels, the asset is expected to fly high.
  • The support levels are around $0.5 levels
  • The market sentiments are pretty bullish

Yield (YLD) Price spikes more than 57% 

Yeild (PRICE)

Yield Price soon after attaining its all-time high in the previous trading hours, plunged slightly but poised to form new highs very soon. YLD price was around $23 during the time of inception which rallied to $47.44 to form the current All-time high. However, a small dip pulled the price nearly 8%-10%.

The YLD price got three major boosts which prevented the price to dip further below $10 levels. This huge influx of liquidity spikes the trading volume which is up by nearly 615.19% to touch $2,520,364 in just 24 hours.

Additionally, the circulating supply is still not known at the time of writing and hence the market capitalization cannot be calculated. The YLD price is $44.36 with a jump of 59.15% in the last 24 hours at the press time.

Technical Specifications

  • The resistance levels are formed initially at $47.44, breaking which the rally is expected to go high.
  • The support levels are formed at $28.81
  • The market sentiments are very bullish

OMG Network (OMG) up by more than 21%

OMG Network (OMG)

The OMG token began rallying since its inception to touch more than $12 within a couple of months of inception. It went parabolic by attaining its ATH at $28.35 but woefully crashed down to the lowest levels close to $1 and maintained these levels for nearly 18 to 20 months.

The trading volume witnessed a huge influx since the start of 2021 and presently the volume is up by more than 84% attaining $836,946,695. And the market capitalization also swelled more than 21% to hit $588,231,788. 

The OMG price is $4.16 with a jump of 20.64% in the last 24 hours. However, the rally needs to be accelerated even more to come close to the ATH as it still requires more than 85% jump to hit the ATH.

Technical Specifications

  • The resistance levels are formed at $4.64
  • The support levels are formed at $3.9
  • The market sentiments are pretty bullish

Source: https://coinpedia.org/news/prosper-pros-omg-network-omg-yield-yld/

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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.

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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.

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Source: https://zycrypto.com/invested-in-doge-heres-how-to-do-your-crypto-taxes/

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