Cryptocurrency Updates: Cryptocurrencyted traded in the red on July 2. The market capitalization of all cryptocurrencies is USD863.55 billion, down 4.16 percent from the previous day. The entire volume of the cryptocurrency market over the last 24 hours was USD63.61 billion, a drop of 11.68 percent.
DeFi's total 24-hour volume is USD5.63 billion, or 8.86% of the total crypto market volume. All stable coin volume is currently USD57.13 billion, or 89.82 percent of the 24-hour volume of the whole crypto market.
The price of bitcoin is currently Rs 15.95 lakh, with a 42.42 percent market share. According to information from CoinMarketCap, this was a daily decline of 0.63 percent.
According to an announcement made on June 30 by the Central Board of Direct Taxes (CBDT), a division of the Ministry of Finance's revenue, only NFT trades without a concurrent sale of the underlying physical asset will be subject to the tax rates set forth for virtual digital assets (VDAs).
The notification stated: "The Central Government hereby specifies a token which qualifies to be a virtual digital asset as a non-fungible token within the meaning of sub-clause (a) of clause (47A) of section 2 of the Act; provided, however, that such non-fungible token shall not include a non-fungible token whose transfer results in the transfer of ownership of the underlying tangible asset and the transfer of ownership of such underlying tangible asset is legally tangible.