Canada Adopts International Crypto Tax Reporting Standard
Canada is aimed at having the OECD standard for crypto asset tax reporting in place by 2027, as agreed with 46 countries.
Chainlink has seen another monumental surge, gaining a staggering 52%, to reach a record high. The token saw a massive rally, shifting from a trading value of around $9.05 USD to reach a high of $13,70 USD.
Since the sudden spike, Chainlink saw a minor correction. Despite this, however, the altcoin is still enjoying a positive bullish increase in daily trading value of 19.78%.
Other DeFi (decentralised finance) related cryptocurrencies saw a spike too, with Band Protocol (which operates similarly to Chainlink as a network for oracles) also seeing a huge spike. Band Protocol hit a new all-time high of $12.44 USD after a 65% surge in trading price overnight. Band’s spike, however, was also partly as a result of its new Coinbase listing, enticing new traders to buy BAND tokens.
Cryptocurrency Market Enjoys A Positive Weekend
The market, as it stands, is looking positive overall as the weekend wraps up. With the exception of Ripple’s XRP, which is looking at a marginal decline in trading volume, the leading cryptocurrencies are all in the green.
Bitcoin Price Holds Strong
Bitcoin price seems to be maintaining its new support at $11,500 USD and continues to test $12,000 USD. While it’s too soon to tell, the recent gain could be the beginning phase of another bull run. The sentiment surrounding the token seems cautiously optimistic, which could be encouraging the rally Ethereum has been seeing.
Ethereum Price Continues To Rise
As the leading altcoin, Ethereum price has been gaining – and holding – fairly consistently. Over the past week, it has seen a weekly low of $357,14 USD and jumped to a nearly 14% gain to a weekly high of $406,30 USD. At present, Ethereum price is at $395,25 USD, which is a 3.59% increase in day-on-day trading. As reported, one of the reasons for the sudden increase in the altcoin’s price could be linked to the bullish sentiment surrounding DeFi tokens.