Cryptocurrency Prices Today June 23: Bitcoin and Ether flatline as Cardano biggest gainer

The global crypto market cap increased 0.05 percent to $899.78 billion over the last 24 hours. On the other hand, the total crypto market volume declined 5.85 percent to $66.53 billion during the period.
The total volume in DeFi stood at $5.39 billion, 8.11 percent of the total crypto market's 24-hour volume. Bitcoin hovered around Rs 16.90 lakh, with a dominance of 43.20 percent. This was a 0.07 percent decrease over the day, data from CoinMarketCap shows. Read more here.

GST council to consider sales tax on cryptocurrency next week

An Indian ministerial panel will meet next week to discuss a goods and services tax on cryptocurrency transactions, people with knowledge on the matter said. The panel, comprising federal and states’ finance ministers, is seeking to broaden the tax net to track dealings in virtual digital assets in a more effective manner, the people said, declining to be identified citing rules on speaking with media. The panel is meeting for two days starting June 28 in the northern Indian state of Chandigarh. The panel is unlikely to finalize a rate in the upcoming meeting but discussions may be held on placing it in the highest tax slab of 28%, the people said. A finance ministry spokesperson did not immediately respond to calls seeking comments. Read more here.

Bitcoin is leading indicator of stock-market Bottom, Mobius says

If you’re a stock trader, you should probably be turning your attention to cryptocurrencies right about now. That’s according to Mark Mobius, who co-founded Mobius Capital Partners after spending more than three decades at Franklin Templeton Investments. “Cryptocurrencies are a measure of investor sentiment,” he said in an interview Wednesday. “Bitcoin goes down, the next day the Dow Jones goes down. That’s the pattern you get. That shows that Bitcoin is a leading indicator.” Only when institutional and retail investors truly “throw in the towel” and stop putting more money into the market because of losses is when sentiment has hit rock bottom, he said. “That’s the time to start buying stocks.” Read here.

Shopify adds NFT-gated option for online retailers

Shopify is leaning into NFTs as the future of e-commerce. The online shopping giant, which allows small businesses to create custom e-commerce shops, is launching NFT-gated storefronts as a new feature for brands looking to make their stores more exclusive, Shopify announced Wednesday. “Invite your community into a world that recognizes and rewards loyalty,” a narrator says in Shopify’s announcement video, which features a skateboarding woman who goes through a pastel portal and turns into a Doodles NFT. Read more here.