Cryptocurrencies take a downturn this week; here's how new tax rules impact investors
As per CoinMarketCap data, the global crypto market cap is $1.96 trillion, a 2.05% decrease over the last day. The total crypto market volume over the last 24 hours is $69.34 billion, which makes a 15.15% decrease. Bitcoin’s dominance is currently 41.06%, a decrease of 0.07% over the day.
The tide in cryptocurrencies markets is keenly watched after India's stringent tax rules came into effect starting this month. The first full week of April turned bitter for crypto markets broadly. Bitcoin, Ethereum, Avalanche, Shiba Inu, BNB, and Litecoin among others have taken a steep downturn in the last seven days of trading. The new tax rules are seen to dampen investors' growth in the industry.
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