|All Time High:|
|Market Cap: |
|The price of #CRA today is $0.00730 USD.|
The lowest CRA price for this period was $0, the highest was $0.00730, and the current live price for one CRA coin is $0.00729709.
The all-time high CRA coin price was $3.13.
Use our custom price calculator to see the hypothetical price of CRA with market cap of ETH or other crypto coins.
|The code for Crabada crypto currency is #CRA. |
Crabada is 1.2 years old.
|The current market capitalization for Crabada is $1,597,944.|
Crabada is ranking downwards to #812 out of all coins, by market cap (and other factors).
|There is a modest volume of trading today on #CRA.|
Today's 24-hour trading volume across all exchanges for Crabada is $81,041.
|The circulating supply of CRA is 218,983,565 coins, which is 22% of the maximum coin supply.|
|CRA has limited pairings with other cryptocurrencies, but has at least 4 pairings and is listed on at least 4 crypto exchanges.|
View #CRA trading pairs and crypto exchanges that currently support #CRA purchase.
|Note that there are multiple coins that share the code #CRA, and you can view them on our CRA disambiguation page.|
Week 31 Arena Challenge — New and Exciting Rewards Await! (30 Jan — 5 Feb 2023)
Week 31 Arena Challenge — New and Exciting Rewards Await! (30 Jan — 5 Feb 2023) - Dear Crabadians! 🦀 — Week 31 Arena Challenge (30 Jan — 5 Feb 2023)🦀⚔️ - Weekly Challenges will be announced where some of the base Arena mechanics or rules are tweaked each week to keep things fresh and entertaining for all Arena participants!Note: These mechanics will ONLY be applied to Arena Mode for the effective week. — 📜Rules and Mechanics. — 1. Crabada Level Limit: 130 All Crabada will participate in Arena battles this week at a maximum of level 130. Transcended Crabada have now joined the battle! 2. Arena Tickets will be refilled every 2 hours instead of 4 hours, to a maximum of 6 Tickets. 3. First of the Generation - Genesis Crabada gain 50% base stats (DMG, HP, Armor) - Origin Crabada gain 25% base stats (DMG, HP, Armor) 4. Stronghold A successful Defense does not earn AP. However, AP will still be deducted when a Defense is unsuccessful. 5. Secret “Weapon” Game UI will only show only 2 Crabada in the opponent’s lineup. One Crabada will be hidden. 6. Factional Advantage: Normal Factional Advantage will be as per normal this week. 7. Formation Advantage: Normal Formation Advantage will be as per normal this week. 8. Arena Point (AP) Tiers In this week’s Arena Challenge, a player will be split into different tiers based on the amount of AP they have. Different amounts of AP w...
Week 30 Arena Challenge — New and Exciting Rewards Await! (23–29 Jan 2023)
Week 30 Arena Challenge — New and Exciting Rewards Await! (23–29 Jan 2023) - Dear Crabadians! 🦀 — Week 30 Arena Challenge (23–29 Jan 2023)🦀⚔️ - Weekly Challenges will be announced where some of the base Arena mechanics or rules are tweaked each week to keep things fresh and entertaining for all Arena participants!Note: These mechanics will ONLY be applied to Arena Mode for the effective week. — 📜Rules and Mechanics. — 1. Crabada Level Limit: 120 All Crabada will participate in Arena battles this week at a maximum of level 120. Transcended Crabada have now joined the battle! 2. Arena Tickets will be refilled every 2 hours instead of 4 hours, to a maximum of 6 Tickets. 3. Factional Advantage: Normal Factional Advantage will be as per normal this week. 4. Formation Advantage: Normal Formation Advantage will be as per normal this week. 5. Stronghold A successful Defense does not earn AP. However, AP will still be deducted when a Defense is unsuccessful. 4. Secret “Weapon” Game UI will only show only 2 Crabada in the opponent’s lineup. One Crabada will be hidden. 5. Arena Point (AP) Tiers In this week’s Arena Challenge, a player will be split into different tiers based on the amount of AP they have. Different amounts of AP will be deducted from an Arena defeat, based on the base deduction amount, and the tier that the player is in. Here are the tiers: Copper Tier (AP < 14...
Week 29 Arena Challenge — New and Exciting Rewards Await! (16–22 Jan 2023)
Week 29 Arena Challenge — New and Exciting Rewards Await! (16–22 Jan 2023) - Dear Crabadians! 🦀 — Week 29 Arena Challenge (16–22 Jan 2023)🦀⚔️ - Weekly Challenges will be announced where some of the base Arena mechanics or rules are tweaked each week to keep things fresh and entertaining for all Arena participants!Note: These mechanics will ONLY be applied to Arena Mode for the effective week. — 📜Rules and Mechanics. — 1. Crabada Level Limit: 110 All Crabada will participate in Arena battles this week at a maximum of level 110. 2-Star Transcended Crabada have now joined the battle! 2. Arena Tickets will be refilled every 2 hours instead of 4 hours, to a maximum of 6 Tickets. 3. Factional Advantage: Normal Factional Advantage will be as per normal this week. 4. Formation Advantage: Normal Formation Advantage will be as per normal this week. 5. Stronghold A successful Defense does not earn AP. However, AP will still be deducted when a Defense is unsuccessful. 4. Secret “Weapon” Game UI will only show only 2 Crabada in the opponent’s lineup. One Crabada will be hidden. 5. Arena Point (AP) Tiers In this week’s Arena Challenge, a player will be split into different tiers based on the amount of AP they have. Different amounts of AP will be deducted from an Arena defeat, based on the base deduction amount, and the tier that the player is in. Here are the tiers: Copper Tier (AP ...
Book of Excramos, Volume 4: Sigurd’s Stormbreaker
A Crabada-World Short Story Series. — The creature arose from the ground and it was unlike anything Astrid had seen before. It somewhat resembled an octopus, with its inflated head and writhing tentacles but this one was huge in comparison to the ones Astrid had seen in the Treasure Isles. It looked like some sort of experiment had been done to modify it. With scars all over its body and sharp spikes embedded in its tentacles, you could see the wrath in its dark eyes. The rank breath came from a spider-like mouth that must have taken a complex surgery to attach it to the creature. Sneering at Astrid, it showed its menacing fangs that were glistening with some kind of glowing ooze. She looked at the atrocity with a mixture of fear and pity. It must have suffered terribly during this process. “What kind of twisted mind would have undertaken this task? And why?“ She had so many questions at the back of her mind. The creature suddenly coiled, whipping itself forward in a swift action. Reflexively, Astrid jumped back while the creature brought its front tentacles down hard over where Astrid had been standing just a moment ago. She felt the creature’s cold and slimy tentacle brush past her face as the powerful blow struck the floor and cracked the hard ground. Small rocks fell from the ceiling as the entire chamber trembled. Astrid had only dodged the attack by the skin of her teeth — getting struck would have ...
Battle Game v2.0.1 Update — To The Moon + Crabada Awakening, Transcendence & Battle Potions!
Battle Game v2.0.1 Update — To The Moon + Crabada Awakening, Transcendence & Battle Potions! - Dear Crabadians! 🦀We are excited to announce the upcoming release of Battle Game v2.0.1 update, where Crabada decay mechanics will be introduced!Battle Game Update v2.0.1 will be available on Wednesday, 11 Jan 2023, at 02:00 AM UTC.Battle Game v2.0.1 will be available on the following platforms: 🔸iOS (Apple App Store) 🔸Android (Google Play Store) 🔸Windows (Crabada Website) 🔸MacOS (Crabada Website) — Here are the new features that will be released with the Battle Game v2.0.1 update! - “To The Moon”, Crabada Awakening, Transcendence, Battle Potions, Introduction of Inheritance Pearls, Pearls of Awakening, and Pearls of Transcendence, — To The Moon🌔 - A player can obtain Inheritance Pearls by using the “To The Moon” feature!The Crabada have well-adapted to their treacherous, ever-changing environments, ensuring its survival as a species.As time passed, the Crabada began to venture into the vast beyond, in search of new resources and greater wisdom in a mission to further advance the Crabadian race.Before leaving Crustaco Bay, the Crabada left their extensive knowledge and experience behind through heirlooms, called the Pearls of Inheritance…There are 8 types of Inheritance Pearls that each correspond to the 8 different classes of Crabada. Pearls of Bulk, Pearls of Gem, Pearl...
Book of Excramos, Volume 3: The Hall of Heroes
A Crabada-World Short Story Series. — The passage past the gate was lit by crystal sources protruding from the walls. The light cast from them was eerie and it never reached more than a few feet in front of Astrid, so she had no way of seeing what was lying ahead. As she cautiously made her way deeper into the passage, the boggy waters of Eramos seemed like a whole other world that she had left behind. She could faintly hear the light wind from the grass outside but this was gradually fading away. The echo of her steps mixed with the deafening silence made her feel somewhat like she was stuck in a dream. Onwards she went, further into the unknown. Looking back, the entrance to the passage was getting smaller and smaller, there was certainly no turning back now. She found herself in a zone where there was less oxygen in the water, which made her brain feel foggy. Astrid took out a bottle of Royal Leafy juice and gulped down a few mouthfuls, hoping it would help keep her mind in focus. Time didn’t seem to move down here, it was very hard to tell how long Astrid had been following this passage for. But one thing for certain was that she was on a gradual incline. As she continued down the way, it led to the discovery of an opening on her right side that revealed an antechamber. Now she had to choose between going further beyond down the path or exploring this newly presented option. Astrid deliberated for a while before...
Week 28 Arena Challenge — New and Exciting Rewards Await! (9–15 Jan 2023)
Week 28 Arena Challenge — New and Exciting Rewards Await! (9–15 Jan 2023) - Dear Crabadians! 🦀 — Week 28 Arena Challenge (9–15 Jan 2023)🦀⚔️ - Weekly Challenges will be announced where some of the base Arena mechanics or rules are tweaked each week to keep things fresh and entertaining for all Arena participants!Note: These mechanics will ONLY be applied to Arena Mode for the effective week. — 📜Rules and Mechanics. — 1. Crabada Level Limit: 80 All Crabada will participate in Arena battles this week at a maximum of level 80. 2. Arena Tickets will be refilled every 2 hours instead of 4 hours, to a maximum of 6 Tickets. 3. Stronghold A successful Defense does not earn AP. However, AP will still be deducted when a Defense is unsuccessful. 4. Secret “Weapon” Game UI will only show only 2 Crabada in the opponent’s lineup. One Crabada will be hidden. 5. Formation Advantage If all Crabada in a team are Sunken Class, the entire team will gain a +15% chance to trigger Eyes Effects, If all Crabada in a team are Organic Class, the entire team will gain a +15% chance to trigger Pincers Skill Effects, If all Crabada in a team are Bulk Class, the entire team will gain +50% ATK, If all Crabada in a team are Surge Class, the entire team will gain x3 Critical Damage, If all Crabada in a team are Gem Class, the entire team will gain x3 Critical Rate, If all Crabada in a team are Ruined Class...
Book of Excramos, Volume 2: To Eramos
A Crabada-World Short Story Series. — After making some quick preparations, Astrid left Lamplight. Something in her gut said that this was the moment she had been waiting for. Astrid took all precautions to maintain secrecy. She knew Whalehallow like the back of her claw and took little-known paths out of it. Frequently checking that she was not followed, she made the decision to take the long way around Highgate, which she usually passed through on her previous journeys to the North of Bogmire. Astrid knew that the journey to the heart of Bogmire would be a treacherous one but if anything, this spurred on her desire even more. Her love of adventure had been ignited when she was a young crab, listening to the myths and legends told by her father, who had been an adventurer himself and was even part of the exploration party that discovered the TUS mines, deep under the city of Mineralis. Astrid was no stranger to adventures which took her to all corners of the Kingdom but navigating Bogmire was a whole different story. It was one of the less chartered areas, due to its difficulty and the fact that you have to first take on the Shadowfall Mountains — an admirable feat in itself. Abyss crabs were notorious for robbery, second only to the Trench with their love of easily procured treasure. Aside from loosely drawn borders, not many mapmakers felt inclined to spend much time here when there were other more favorable a...
Book of Excramos, Volume 1: Astrid of Lamplight
A Crabada-World Short Story Series. — In the city of Lamplight, heart of the Crabs of the Trench, Whalebone Tavern was abuzz with evening activity. Covered in centuries-old wooden panels and filled with mismatched tables and stools, the walls of this bustling room had heard the stories and secrets of all who passed through. On entering the tavern, one would immediately be engulfed with the aromas of the delicious homemade stew of the day mixed in with the smoke of the crackling log fire at the back. And not to mention, the many pints of ale that had been spilled onto the oak floors. The charm of this spot made it the perfect place for adventurers to recharge after weeks of exploring new lands. This was the hub of many exchanges, commissions, and bounties. Many deals were done over a handshake and a pint of its famous Octobrew ale. Excited whispers were often accompanied by furtive glances across the room. This was mostly out of habit from the regulars of the adventuring trade. If one wanted to be the first to hear of Caraplace’s most lucrative opportunities, Whalebone Tavern was the place to be. It was better to be overly cautious here and as a seasoned veteran of the trade, this was second nature for Astrid. Being sneakily looted by a cunning crab was every adventurer’s worst nightmare. And this was a daily occurrence when the tavern was heaving with travelers. From her usual seat in the corner, she once again s...
Week 27 Arena Challenge — New and Exciting Rewards Await! (2 — 8 Jan 2023)
Week 27 Arena Challenge — New and Exciting Rewards Await! (2 — 8 Jan 2023) - Dear Crabadians! 🦀 — Week 27 Arena Challenge (2–8 Jan 2023)🦀⚔️ - Weekly Challenges will be announced where some of the base Arena mechanics or rules are tweaked each week to keep things fresh and entertaining for all Arena participants!Note: These mechanics will ONLY be applied to Arena Mode for the effective week. — 📜Rules and Mechanics. — 1. True Colors (Crabada Level Limit: 100) All Crabada will participate in Arena battles this week at a maximum of level 100. That means your Crabada can Battle at its full strength! 2. Arena Tickets will be refilled every 2 hours instead of 4 hours, to a maximum of 6 Tickets. 3. Stronghold A successful Defense does not earn AP. However, AP will still be deducted when a Defense is unsuccessful. 4. Faction-less Factional advantages will not be in effect for all Arena Battles in this week! 5. Secret “Weapon” Game UI will only show only 2 Crabada in the opponent’s lineup. One Crabada will be hidden. 6. Perfect Synergy Boost (Pincer Skill) If a team has 3 Crabada with the same Pincer skills, and all of them are of the SAME Class, all 3 Crabada will gain a 50% increase in Attack. 7. Imperfect Synergy Boost (Pincer Skill) If a team has 3 Crabada with the same Pincer skills, and all of them are of DIFFERENT Classes, all 3 Crabada will gain a 300% increase in Speed. 8...
More Crabada (#CRA) News
|SUSHI Latest Feats Are Quite Impressive, But Crypto Must Overcome Rough ...
SUSHI has shown strong bullishness, ranking as the most influential project in Avalanche and breaking into the top 10 in Altrank on Polygon.
At this time of writing, CoinGecko is estimating a 24% increase in value, which is a 10% increase from where it was.
The following is a quick rundown of some of SUSHI's more notable qualities that demonstrate its 'tasty' status:
There was a 4% increase in TVL. Positive environment, but unfriendly market conditions are a drag for the token
Future discomfort is possible, but the investment case remains strong
Most Influential Project on Avalanche$SUSHI @SushiSwap$JOE @traderjoe_xyz$FITFI @StepApp_$TIME @wonderland_fi$CRA @PlayCrabada$ALBT @allianceblock$BIFI @beefyfinance$PNG @pangolindex$CQT @Covalent_HQ$ANY @MultichainOrg#AVAX $AVAX pic.twitter.com/9ozC2j4Wrp
— AVAX Daily (@AVAXDaily) November 21, 2022
In addition, DeFiLlama has noticed a 4% rise in TVL. All in all, investors and traders have a lot to be optimistic about here.
But the technicals of the coin suggest that the bullishness is fleeting, as it is being carried around by the present bear market.
SUSHI Remains Stale
Since its crash in May 2022, SUSHI's price has barely moved. Also, the token has been trading between $2.083 and $0.861 for some time now.
This coin, however, has been making higher highs and lower lows despite the bear market since the latter half of Q2 this year.
The present price surge, however, is not only due to its recent successes, but also to the act...
|Avalanche Looks To Capitalize On GameFi Segment – Will This Give A...
Avalanche (AVAX) peaked at $20.31 on November 6 as it gave its best to recover from the bearish trend that engulfed the broader crypto market towards the tail-end of October and the opening days the current month.
However, on November 12, the cryptocurrency experienced a severe price correction that pulled it all the way down to $12.51. The following day, the altcoin made an immediate bounce-back as it reclaimed the $15 marker.
After that, Avalanche was once again on a downward trend that made it struggle to even just climb at $14. At the time of this writing, according to tracking from Coingecko, the 20th ranked digital currency in terms of market capitalization is changing hands at $13.50.
Over the last seven days, the asset has declined by more than 15% while during the past 30 days, its value dropped by 14.4%.
As it turns out, even an impressive growth in GameFi segment of the blockchain space is not enough to stop the bleeding for AVAX.
As Crypto Market Suffers, Avalanche Notches Growth Elsewhere
According to data shared on Twitter by Avalanche Talk, 10 GameFi projects running on the AVAX blockchain tallied significant increases in volume over the past week.
Province was the top gainer, posting an impressive 1,481.77% increase in volume in just a matter of seven days. Owloper (290.98%) was at second. Rounding up the top five were Dragon Crypto (279.76%), Hoppers Game (118.39%) and Step App (91.87%).
Meanwhile, RaceX (68.42%), Crabada (44.02%), XANA Metaverse (43.3...
|Koinly Explains How The Ethereum Merge Could Affect Your Crypto Taxes
The Ethereum Merge is shaping up to be the biggest event in the crypto space in over five years, and that could mean some significant impacts on your crypto portfolio.
We know that sometime between September 10th and 20th, the Merge will take place, resulting in the Proof of Stake 'Beacon Chain' merging with the current Proof of Work Ethereum chain.
While speculation surrounds whether Ethereum will fork and what may happen to DeFi protocols, stablecoins, NFTs and more, essential questions remain around the potential tax implications that Ethereum holders could incur.
So what's happening, and what do you need to know? Crypto tax calculator Koinly is here to explain.
What is the Ethereum Merge?
The ultimate result of the Ethereum Merge will be the transition from Proof of Work (PoW) to Proof of Stake (PoS) as the consensus mechanism for the Ethereum blockchain. Ethereum developers have flagged this move for years, with work initially beginning as far back as 2016.
The current estimate is for the Merge to occur between September 13th and 15th, but it will ultimately depend on the Terminal Total Difficulty (TTD) of Ethereum. Currently, this appears to be around a block height of 15,540,293. The final upgrade to Ethereum clients (known as the Bellatrix upgrade) occurred on September 6th, with approximately 74% of Ethereum nodes 'Merge ready'.
The Ethereum Foundation has stated that by moving to PoS, the blockchain will reduce its energy consumption by approximately 99.95% –...
|Colony Avalanche Index Launches to Offer Yield-Bearing Avalanche Ecosyst...
[PRESS RELEASE - Paris, France, 6th September 2022]
Colony Lab, the Avalanche ecosystem accelerator, has partnered with decentralized crypto index platform Phuture to launch CAI, the first index token offering exposure to the AVAX ecosystem.
AI, or Colony Avalanche Index, is an investment tool to benefit from the growth of the Avalanche ecosystem as a whole through just one token. The CAI is a basket of both AVAX and Avalanche application tokens, spread into different thematic sections for DeFi, GameFi and others.
In addition, thanks to an integration with Yield Yak, the CAI token is natively yield-bearing. The assets inside it are deployed to earn additional yield through the aggregator, offering a safe but effective way to compound gains.
CAI is designed for investors who are excited about the Avalanche ecosystem but prefer to gain exposure in a calculated, more efficient way that optimizes capital for them. The network is a mere 22 months old, but it is already the third largest DeFi ecosystem by total value locked, in addition to very successful GameFi projects like DeFi Kingdoms, which run on their own subnets. The ecosystem will continue to grow and evolve rapidly, making it difficult to pick the ultimate winners at this stage.
To account for the dynamism of the Avalanche Ecosystem, CAI will rebalance every month to always include the top assets by liquidity and capitalization. The dynamic rebalancing methodology ensures that CAI always stays allocated in the best-perfo...
|AVAX Posts Over 2 Million Transactions Over The Weekend, New Highs Seen
Avalanche (AVAX) has been leading a couple of prominent DeFi projects including Platypus.
Platypus is a DeFi project built on the AVAX ecosystem that won the prestigious Avalanche X Grant.
This DeFi protocol aims to provide a user-friendly and scalable stableSwap platform.
More so, its dream is to create an Automated Market Maker (AMM) right on top of Avalanche that boasts of open liquidity and maximized efficiency in terms of capital.
Additional assets can be integrated into the liquidity pool that can greatly enhance simplicity, ease of use, and flexibility.
Platypus will be incorporating its first batch of voting gauges which will enable owners of vePTP tokens to get more rewards plus decide or vote on the placement of emissions.
Voting power is regarded as extremely valuable in the DeFi space as it pumps up both liquidity and TVL.
It’s interesting to note that the voting design of Platypus provides emissions without any presence of pause sliced in between votes.
AVAX Posts ATH With 2 Million Transactions
Notably, Avalanche was able to gross as much as 2 million transactions over the weekend which is now the most recent ATH for the crypto, boasting a spike that is astoundingly 4x more as seen in well over two months.
More so, crypto analysts are in unison that AVAX will soar to new heights in the coming days.
Evidently, Luigi DeMeo, Ava Labs head of DeFi, believes that subnets are a huge help and are just warming up.
Conscious Lines collection and Crabada collection...
|Qatari National Blockchain Blueprint Spotlights Benefits of the Technolo...
Qatar's recently released 'National Blockchain Blueprint' has suggested that the technology, combined with a 'solid regulatory framework,' can help the country build an innovative information technology (IT) sector. However, for this to happen, Qatar must implement recommendations laid out in the blueprint.Qatar Said to Be Well Placed to Become Blockchain Hub
A blueprint jointly drafted by Qatar's Communications Regulatory Authority (CRA) and two learning institutions, Hamad Bin Khalifa University and Qatar University, seeks to spotlight how blockchain 'can contribute to building an innovative and growing IT sector' in the country. Citing Qatar's small population and size, the document argues the country is well placed to become one of the leading countries in fostering blockchain innovations.
However, before attaining its status as one of the biggest blockchain hubs globally, Qatar still needs to create an enabling environment for the technology to flourish. One of the ways of doing this, according to the 23-page document's summary, is by developing a 'solid regulatory framework.' In addition to helping bring in investors, such a regulatory framework is said to be needed by both consumers and innovators.
'Regulation is not only important to protect users and ensure security, but also to provide the adequate legal framework that allows blockchain innovation and adoption. This can be achieved by identifying the different domains of blockchain-based services, their associated r...
|US, UK, Canada, Australia, Netherlands Share Crypto Criminal Leads, Incl...
Officials from the U.S., U.K., Canada, Australia, and the Netherlands have shared data and identified more than 50 crypto-related criminal leads, including one case that could be a $1 billion Ponzi scheme.Officials Share Data on Global Crypto Crime
The heads of tax enforcement from the Joint Chiefs of Global Tax Enforcement (J5) countries met in London this week to share intelligence and data to identify sources of illegal cross-border crypto activity, Bloomberg reported Friday.
The J5 was formed in response to the call to action from the Organisation for Economic Co-operation and Development (OECD) for countries to do more to tackle the enablers of tax crime. It's comprised of the Australian Taxation Office (ATO), the Canada Revenue Agency (CRA), the Fiscale Inlichtingen- en Opsporingsdienst (FIOD), HM Revenue & Customs (HMRC), and the Internal Revenue Service Criminal Investigation (IRS-CI).
During the meeting, the officials identified more than 50 crypto-related criminal leads, the publication conveyed.
Jim Lee, chief of criminal investigations at the Internal Revenue Service (IRS), told reporters Friday:
Some of these leads … involve individuals with significant NFT transactions revolving around potential tax or other financial crimes throughout our jurisdictions.
He added that one lead 'appears to be a $1 billion Ponzi scheme,' noting that this lead 'touches every single J5 country.'
Moreover, the officials have identified leads involving decentralized exchanges ...
|Avalanche, BNB Chain, and Polygon Growth Stable Despite Q1 2022 Market H...
Leading blockchain data analytics platform Nansen recently released its quarterly analysis report, which revealed that the crypto market had witnessed a decline in 2022 compared to its 2021 activity volume.
The report, however, pointed out that the performance of leading blockchain networks, Polygon, BNB Chain, and Avalanche, remained fairly stable, with Avalanche standing out as a rising star among the pack.
Polygon Sees Adoption
According to the Nansen report, Polygon's scalability, energy-efficient PoS system, and low gas fees compared to other blockchains like Ethereum boosted its adoption in 2021 by almost 1,000%.
However, the increased activity on the Polygon network came to an unexpected stop in the first quarter of 2022. But the average transaction volume on the L2 network remained fairly stable.
Interestingly, it recorded a massive gas spike in Q1 2022, which was a sign of growing activity. According to Nansen, the spike in gas prices was caused by SunflowerFarmz, a Polygon-based blockchain game.
The game's explosive growth in January had resulted in network congestion that sent gas prices skyrocketing. At its peak, the total daily gas fees paid by Polygon network users in January were almost 800% more than that paid in December 2021.
BNB Chain Remains Industry Leader
After peaking in Q4 2021, BNB Chain saw a massive decline in its on-chain activity in early 2022. However, Namsen noted that BNB Chain has continued to maintain its position as the industry leader and t...
|Want to Dodge Your Crypto Tax? Learn the Risks From Koinly
In recent years, the IRS has made one thing abundantly clear – if you make money from crypto, they want their cut. So if you're underreporting or outright avoiding crypto taxes, be warned: the penalties are steep. Before you take the wrong turn, learn the risks from crypto tax experts, Koinly.
Is cryptocurrency taxed?
The million dollar question – and the answer is a definite yes. Virtually every country in the world requires you to pay taxes on crypto.
The exact tax you'll pay will vary – but in general you'll pay either Capital Gains Tax or Income Tax, or both in some cases. You can learn more about how crypto is taxed in your country in Koinly's crypto tax guides.
What will tax offices know about my crypto?
Now that Crypto has gone mainstream, tax offices are sending a clear message to investors – you can run, but you can't hide.
As a digital asset, you might think there's no way your tax office can know about your crypto, but it's not the case at all. Tax offices including the IRS in the US, the ATO in Australia, HMRC in the UK, and the CRA in Canada are compelling crypto exchanges to share Know Your Customer (KYC) data on demand. This is done to ensure tax compliance and catch taxpayers avoiding crypto taxes.
The IRS in particular have been using the John Doe summons to legally compel crypto exchanges to hand over user data. They've already won a John Doe summons against Coinbase, Kraken and Poloniex.
So what happens if you're caught evading c...
|NFT Sales Slid Lower This Week, Cronos NFT Volume Jumps 236% Higher, Azu...
Last week, non-fungible token sales saw an improvement after tumbling week after week in terms of sales volume. This week, NFT sales are down 2.15% from last week's $544.6 million to this week's $539.2 million. The top NFT collection in terms of weekly sales was the Azuki compilation of collectibles, as the project saw a 318% increase in sales during the last seven days.Weekly NFT Sales Drop 2%, Cronos and Solana NFT Sales Spike
Data stemming from the non-fungible token (NFT) economy indicates that sales are down this week by 2.15%. Statistics indicate that NFT sales across 16 different blockchain networks recorded roughly $539.2 million in sales this week. Metrics from cryptoslam.io show that the blockchain Ethereum captured most of the week's sales with $443 million settled. However, Ethereum-based NFT sales are down 7.36% this week.
The blockchain with the most NFT sales this week is Cronos as the network obtained $1.3 million in NFT sales, up 236% in the last seven days. Following Cronos was Solana's sales, as $44.7 million in NFT sales stemmed from the Solana network. Solana-based NFT sales are up 96% this week, which is followed by Binance Smart Chain's 86% sales increase this week. The two biggest losers in terms of seven-day NFT sales include the blockchain Polygon down 51% this week, and the blockchain network Waves saw a 92% drop in sales.
Azuki Collection Takes the Top Sales Position This Week, Art Blocks' NFT Fidenza #692 Sells for $993K
The top collection this w...
|Crypto Taxes in 2022: All You Need to Know According to Koinly
Cryptocurrency users can face a lot of challenges finding the right information needed for reporting taxes. Koinly, a leading cryptocurrency tax calculator and portfolio tracker for traders, has created the ultimate guide to help.
Koinly Presents The Ultimate Bitcoin Tax Guide for 2022
Crypto tax regulations and laws can be confusing, leaving investors with many questions about what crypto taxation looks like – how much tax to pay on Bitcoin and the tax rate? But do not worry. Koinly brings an ultimate crypto tax guide to help answer all the questions related to crypto taxes and more.
Bitcoin, just like any other cryptocurrency, is not recognized as a fiat currency – like USD, GBP and AED, by almost all countries worldwide. For taxation purposes, crypto is an asset & is taxed just like any other asset – much like property, stock, or shares. So yes, taxes are due on Bitcoin.
It does not matter where someone lives, as most taxation departments worldwide are cracking down on crypto and taxing Bitcoin and other cryptocurrencies. Each country has slightly varying views on crypto and its taxation. Koinly offers regularly updated guides on many countries, including the US and Canada too.
Since Bitcoin is an asset for taxation purposes, the owner must pay a Capital Gains Tax anytime an asset is liquidated and disposed of. In what scenarios are Bitcoin disposals taxed?
When Bitcoin sells for Fiat currency
When Bitcoin/crypto swaps for another cryptocurrency, in...
|Crypto Industry Maintained Activity in February Despite Geopolitical Ten...
Dappradar just released its February 2022 Dapp industry report and found steady activity across the blockchain and DeFi space in the face of bearish market conditions. Meanwhile, the NFT market appears to have entered a consolidation phase.
A Quietly Growing Industry
According to the report from DappRadar, interest from governments and financial institutions in web 3 technologies is on the rise. They are finding increasing use-cases for blockchain and various ways to embed it into today’s society.
Specifically, dApp usage is up 385% since February 2021 and is attracting 2.35 million unique active wallets (UAW) per day. Though usage is still technically down 5% from January, it holds remarkably steady given that crypto prices have been falling consistently since November. Last week, Bitcoin fell as low as $34k.
Russia’s invasion of Ukraine on February 24th provided additional cause for concern. However, after a brief drawback, crypto actually appears to be thriving during the conflict. Bitcoin is now trading above $43k, making it more valuable than the crashing Russian ruble.
Regarding NFTs, adoption remains on the rise even though trading volume is trending downwards. On-chain data suggests that unique traders and NFT sales counts have increased by 8% and 2% respectively, month over month. This indicates a growing user base, even though NFT sales shrunk by 28% to just $4 billion from the previous month.
Finally, DeFi adoption trends have seen some of the most sign...