Cryptocurrencies traded in the green early on April 4. The global crypto market cap is $2.14 trillion, a 0.73 percent increase over the last day. The total crypto market volume over the last 24 hours is $94.07 billion, a 14.86 percent decrease.
The total volume in DeFi is currently $13.72 billion, 14.58 percent of the total crypto market 24-hour volume. The volume of all stable coins is now $77.41 billion, which is 82.29 percent of the total crypto market 24-hour volume.
Bitcoin's price is currently Rs 36.03 lakh, with a dominance of 40.66 percent. This is a 0.30 percent decrease over the day, as per CoinMarketCap data.
In news, a roughly $600 million hack of software underpinning the popular play-to-earn game Axie Infinity is likely to change the attitude and responsibilities of venture capitalists investing in crypto, said Animoca Brands co-founder Yat Siu.
The security breach allowed hackers to steal 173,600 Ether and 25.5 million USDC tokens and underscored the glaring weaknesses in so-called bridges that allow digital tokens to be swapped between different blockchains.
Animoca, which has a range of businesses related to non-fungible tokens, is an investor in Sky Mavis, the developer of Axie Infinity.
“It’s a shame that maybe this needed to happen to Sky Mavis for the world to take note, but we’re all being more careful,” Siu said in an interview at the NFT LA conference in Los Angeles.
In the March 23 attack, hackers targeted the Ronin Bridge, which Sky Mavis adopted to help Axie Infinity’s network accelerate transactions and reduce costs.
Meanwhile, Indonesia plans to impose value-added tax (VAT) on crypto asset transactions and an income tax on capital gains from such investments at 0.1 percent each, starting May 1, a tax official told reporters, amid a boom in digital asset trading.
Interest in digital assets has surged in Southeast Asia's largest economy during the COVID-19 pandemic, with the number of crypto asset holders jumping to 11 million by the end of 2021.
"Crypto assets will be subject to VAT because they are a commodity as defined by the trade ministry. They are not a currency," the official, Hestu Yoga Saksama, told a media briefing Reuters reported.
"So we will impose income tax and VAT." The government is still working on implementing regulation for the taxes, he added.
Last year's total crypto asset transactions in commodity futures markets rose more than 10 times to 859.4 trillion rupiah ($59.8 billion), data from the Commodity Futures Trading Regulatory Agency showed.
Indonesians are allowed to trade crypto assets as a commodity but not to use them as a means of payment.
As of 7.55 am on April 4, these are the prices of largest cryptocurrencies (data from WazirX):
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