Cryptocurrency Prices on November 29: Bitcoin, Solana, Ethereum rise while Tether falls

The global crypto market capitalisation surged 5.58 percent over the last 24 hours to stand at $2.58 trillion. Bitcoin, currently trading at $57,563.20 saw a rise in its market dominance by about 0.23 percent over the last day to stand at 42.20 percent. The total cryptocurrency trading volume over the last 24 hours was $111.08 billion, increasing by 6.42 percent. While DeFi ($17.05 billion) accounted for 15.35 percent of the total crypto volume, stablecoins ($87.25 billion) made for 78.55 percent of the crypto market's 24-hour market volume. Read more here

Elon Musk wants you to stop relying upon cryptocurrency exchanges - here is why

Tesla CEO Elon Musk is not endorsing any centralised cryptocurrency exchanges. Musk, who is a staunch supporter of cryptocurrency, wants crypto holders to take custody of their ‘keys’, and not rely upon cryptocurrency exchanges such as Robinhood or Binance. Read more here.

A cryptocurrency called Omicron Is Up 137% since WHO named new COVID-19 variant

Omicron coin is up 137 percent in the last 24 hours. The token is backed by a basket of assets, including USDC. It is a fork of the DeFi project OlympusDAO. A single Omicron token is now worth $404, up 137% in the past 24 hours and 735% compared to its all-time low on November 17. Trading data for the coin on CoinGecko starts on November 8. Read more here

Metaverse Token SAND now among top 50 Cryptocurrency

Popular Metaverse token SAND catapulted into the top 50 cryptocurrencies by market capitalisation on November 28 at number 35, after growing 76 percent in the last seven days, according to data from CoinMarketCap. Read more here

Cryptocurrency Bill heads to the Parliament: Three experts weigh in on how gains would be taxed

Cryptocurrency regulations are all set to be passed in the upcoming winter session of the Parliament. But those who traded in them and made profits face an important question: how will the gains be taxed? Crypto investments in India have increased to over $10 billion in November 2021, from $0.9 billion in April 2020, according to Credit Rating for Exchanges Blockchains and Coin Offerings (CREBACO). At present, there are no explicit provisions dealing with the taxation of cryptocurrencies under the income-tax act, 1961. Three tax experts present their viewpoints on how to tax gains made from trading or investing in cryptocurrencies. Read more here