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Crypto Market Highlights July 21, 2022

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Crypto Market Highlights: General News

  • ConsenSys Will Launch A New TURN Token In Mid-August. TURN (Time-Unit Representative NFT) creates a new open marketplace for buyers and sellers of security audits and goes on sale from August 15 to 19, 2022. The upcoming auction will feature a pool of eight TURN tokens, which are compatible with ERC721 and represent “40 hours of auditable provisioning”. Once sold, TURN can be sold on the secondary market similar to other NFTs, but the value of the TURN is based on a “set” 40-hour period.
  • June’s Moonbirds NFT Sales Were Down 72% From May’s. Due to a decrease in investor interest, Moonbirds was one of the NFT projects that was most severely impacted by the NFT market downturn. In June, the Moonbirds NFTs’ sales totaled around $15.43 million. Meanwhile, Moonbirds sales were somewhere about $56.1 million in May.
  • Dogecoin Releases A Major Upgrade To Boost Security And Effectiveness. The main software for the Dogecoin (DOGE) project has received an update from the developers that enhances user interface, security, and effectiveness. Dogecoin Core 1.14.6, the most recent update, went live early on Thursday, and all users of the network were advised to update. The most recent version includes a number of new features, adjustments to the current fee structure, and various security updates.
  • South Korea Raids 7 Exchanges Involved In The UST-LUNA Disaster. South Korean authorities have raided at least seven crypto exchanges as part of an ongoing investigation into Terraform Labs and the demise of stablecoin TerraUSD (UST) and Terra (LUNA) in May. Investigators from the Seoul Southern District Prosecutors’ Office seized documents, including trading records from several exchanges starting at around 5:30 p.m. KST. Upbit, Bithumb, and Coinone are among these.
  • South Korea Pushes Back The 20% Tax On Crypto Gains Until 2025. According to reports, the South Korean government has delayed the 20 percent tax on cryptocurrency earnings by two years. The contentious 20% tax on cryptocurrency earnings was originally set to take effect on January 1, 2023, but it has now been postponed to 2025. Since it was first proposed in January 2021, the contentious 20 percent cryptocurrency tax has already been postponed twice. The tax was initially scheduled to go into effect in January 2022, but lawmakers in the nation postponed it until 2023, and it has now been delayed by an additional two years.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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