Crypto Ups and Downs on 27 Mar - 2 Apr

In this article we present the overview of the gainers and downers among cryptocurrencies with the highest market capitalization during the week on March 27 - April 2 of 2018
02 April 2018   1265

From this article you will learn about the most unpredictable ups and downs of cryptocurrencies. We have analyzed the crypto market, and researched the most popular tokens and coins with market capitalization over $1M. In the charts below you can find all relevant information regarding the leaders of growth and fall during past 7 days.

We can fairly say that this week was much more successful for cryptocurrencies than the previous one as our charts show that there was plenty of coins which almost doubled in price. As for the digital coins with high market capitalization, XPA is the leader of our charts this week as it rose 341.57% within past 7 days. Mithril was also incredibly successful, it increased 173.44%, having its market capitalization grown from $56 million on March 27 to $125 million on April 2. Bytom and Ontology have also had a pretty nice week as they rose more than 20%.

The Biggest Gainers

Name Market
  Cap
Price 
in $
Volume
 (24h)
Change %
(7 days)
Verge 663 543 554 0,044881 87 988 800 + 11.42
Ontology 495 497 258  2,05 37 346 200  + 25.04
Bytom 464 344 020 0,470460 25 561 000 + 21.80
XPA 327 017 000 0,327017 189 558  + 341.57
Mithril 124 080 221 0,413420 9 555 160 + 173.44

However, past week was not so fortunate for some of the cryptocurrencies. A lot of coins and tokens fell down in price and market capitalization, losing popularity among the users.

The Greatest Downers

Name Market
  Cap
Price 
in $
Volume
 (24h)
Change %
(7 days)
Ethos 147 780 461 1,94 3 205 760 - 39.99
Storm 121 860 905 0,029803 76 968 100 - 40.05
Request Network 98 080 502 0,147943 3 054 670  - 39.14
Pura 37 139 689 0,214314 272 939 - 42.00
Crypterium 36 077 124 0,462044 296 649 - 41.21

The greatest downer of this week is Pura, which has shown a downwards trend of 42%, having its price decrease from $0,35 to $0,21. Crypterium fell 41.21%, having its price decreased from $0,72 to $0,46 within past 7 days. Moreover, Ethos has also had a rather unsuccessful week, as it fell 39.99%, having its price drop from $3,07 to $1,94 from March 27 to April 2. The market capitalization of Request Network dropped from $153 to $97 million, while the market capitalization of Storm fell down from $184 million to $122 million.

Israeli BTC Investors to Face Catch 22

They need to pay taxes from Bitcoin investing in order to avoid their property arrest, but banks don't take their money due to AML issues
06 August 2019   132

Bitcoin investors in Israel are faced with the impossibility of paying taxes, as local banks refuse to accept funds received from the sale of cryptocurrencies because of the risks of money laundering and terrorist financing. About this writes the local edition of Haaretz on August 6.

Bitcoin is not recognized as a currency in Israel, therefore, individuals must pay 25% of the income from cryptocurrency trading to the treasury, and legal entities - 47%.

Investor Ron Gross told the publication that he acquired bitcoins in 2011 and reported his income to the tax office. In 2017, the bank that served Gross began to refuse to accept funds received from the sale of bitcoins. The investor met with representatives of the bank to demonstrate to them a 70-page history of bitcoin transactions as confirmation of the origin of the funds, but failed to convince them.

The tax authority is aware of the problem, but they say the ball isn’t in their courts. I’ve tried working with almost all the banks, but the minute they hear the word ‘Bitcoin’ they freeze up.
 

Ron Gross

Bitcoin investor from Israel

 

Since Gross was unable to pay taxes on time, his bank account, home, and even scooters were arrested. According to the investor, the tax authorities know about the problem, but can do nothing.

According to Haaretz, the tax office is aware of $ 86 million in unpaid taxes on income from cryptocurrency trading. It is possible that the real amount may be significantly higher.

Roy Arav, another Bitcoin investor, kept the proceeds from trading Bitcoin in an account with Israeli bank Discount under the control of the Bit2C exchange. The bank refuses to transfer money to Arava’s personal account under the pretext that its politicians forbid it to transfer funds related to virtual assets to client accounts due to the risks of money laundering and terrorist financing.

Arav also could not pay taxes and was forced to sue the bank. According to the investor, the authorities entered his position and granted him a deferral of time for the consideration of the claim.