Bitcoin NFT Surpasses Ronin in Sales Volume
Remarkably, sales of Bitcoin-based non-fungible tokens (NFTs) have skyrocketed over the past 30 days, reaching a staggering $148 million and surpassing previous records on the Ronin blockchain. This surge puts Bitcoin NFTs just behind leader Ethereum with $157 million in trading volume and ahead of Solana’s $77 million. Despite these achievements, the NFT market has suffered a significant downturn, with sales falling 40% across the top three chains, as reported by CryptoSlam.
The altcoin market is bleeding amid an inexplicable economic downturn.
The cryptocurrency market witnessed a dramatic decline, painting the charts red, with several altcoins plummeting by double digits. Shiba Inu and Avalanche were the most affected, with declines of 12.7% and 10.6% respectively. The overall cryptocurrency market capitalization fell 3.5% in 24 hours to $2.46 trillion. Analysts are baffled by this sudden downturn, saying there is “no clear catalyst” for the June 17 carnage.
Malaysia targets cryptocurrency tax evasion with Ops tokens
In an effort to crack down on tax evasion within the cryptocurrency industry, the Malaysian Revenue Authority has launched “Ops Token”, a special operation aimed at curbing tax revenue losses from cryptocurrency trading. The operation included raids on 10 locations in the Klang Valley, where authorities discovered sensitive digital asset transaction data on mobile devices and computers. The IRB highlighted the success of its work in identifying significant tax revenue leaks resulting from unreported cryptocurrency transactions.