KoinX Crypto Taxation Platform Raises $1.5 million, Bitcoin Rises

KoinX, a platform for crypto taxes, has announced it has secured $1.5 million from a number of venture capitalists and influential figures in the IT industry.

By the second quarter of the current fiscal year, the firm, which is supported by cryptocurrency pioneers and investors like Polygon’s Sandeep Nahliwal, Ajeet Khurana (previously with Zebpay), Navin Gupta from Ripple, and Utsav Somani of Angel List, aims to have up to 500,000 customers.

In other news, unique non-fungible tokens (NFTs) have been launched which include 10 characters from the famous cartoon series Shaabiat Al Cartoon. The 2006 series highlights Emiratis living in Dubai and discusses social and cultural concerns with humour. The digital tokens are being distributed as part of the Crypto Arabs Project, which will provide information about the emergence of cryptocurrency and Web 3.0.

The Crypto Arabs Community was founded by Sheikh Humaid Bin Khalid Al Qasimi and Princess Nejla bint Asem of Jordan.

“It is an honour to be a part of a project that is so important to education. The information they will provide to the society is priceless,” Sheikh Humaid said, adding that it is important for people in the region to be educated and participate in the future of finance.

Crypto Arabs has a solid network of Web 3 industry leaders.

Crypto Prices

The price of Bitcoin in the cryptocurrency market rose by 0.85 per cent in the last 24 hours, and it was trading at $19,732.35 at 7:30 pm IST. According to Coinmarketcap.com, its dominance in the crypto market is currently at 42.17 per cent, down by 0.19 per cent in the last 24 hours.

Ethereum (ETH) was trading at $1,126.84, up by 4.32 per cent, while Binance Coin (BNB) was up by 2.82 per cent in the last 24 hours, and it was trading at $228.25. Solana (SOL) was up by 1.50 per cent to $32.28, while Cardano (ADA) was down by 0.57 per cent to $0.4563.

Meme Coins

Dogecoin was trading at $0.06683 at 7:30 pm IST, down by 0.30 per cent on Coinmarketcap.com. Its rival, Shiba Inu, was up by 0.25 per cent, and it was trading at $0.00001021. Samoyedcoin was up by 11.85 per cent, and it was trading at $0.008324, while Dogelon Mars was down by 2.26 per cent, and it was trading at $0.000000307.

Overall Scenario

According to Coinmarketcap.com, the global crypto market cap was at $891.59 billion, an increase of 1.07 per cent in the last 24 hours, while the total crypto market volume was $61.37 billion, an increase of 48.58 per cent.