Day: January 15, 2025

    Franklin Templeton Forecasts Bitcoin Adoption as National Reserve Asset by 2025

    Franklin Templeton, one of the world’s largest asset managers, has projected that nations could begin adopting Bitcoin as part of their national reserves by 2025. The forecast, shared in a recent tweet, underscores a growing recognition of Bitcoin’s potential role in diversifying sovereign wealth amid shifting global economic trends. Part of the lengthy X post read: “Bitcoin will solidify its position as a global financial asset acting as a digital store of value, accelerated by sovereign and institutional adoption. We expect to see strategic BTC reserves added by several nations.” According to the tweet, Bitcoin’s decentralized nature and ability to function as a shield against inflation are key factors driving its consideration as a reserve asset. While traditionally dominated by fiat currencies and gold, national reserves may increasingly include cryptocurrencies to mitigate economic risks and capitalize on digital financial innovations. Bitcoin will solidify its position as a global financial asset acting as a digital store of value, accelerated by sovereign and institutional adoption. We expect to see strategic BTC reserves added by several nations — Franklin Templeton Digital Assets (@FTDA_US) December 30, 2024 Adoption Trend Likely to Accelerate The report identifies emerging markets as potential frontrunners in Bitcoin adoption, citing increased interest in digital assets to counter unstable domestic currencies and geopolitical tensions. Nations with economies susceptible to inflationary pressures and currency devaluation might explore Bitcoin as an alternative to traditional financial systems. Franklin Templeton’s submission also pointed to growing institutional interest in Bitcoin, which could pave the way for broader acceptance at the national level. The report highlights that rising global investment in Bitcoin exchange-traded funds (ETFs) and advancements in blockchain infrastructure may further reinforce Bitcoin’s credibility as a store of value. Implications for Global Finance If nations incorporate Bitcoin into their reserves, it could signal a major shift in the global financial system. Such a move would challenge the dominance of traditional reserve currencies like the U.S. dollar and euro, potentially altering international trade dynamics and monetary policies. However, the report also noted challenges to adoption, including regulatory uncertainty and Bitcoin’s price volatility. Franklin Templeton emphasized the need for careful policy considerations and infrastructure development to ensure stability in implementing Bitcoin as a reserve asset. Franklin Templeton’s insights reflect a cautious yet optimistic stance on the future of Bitcoin in national reserves, underscoring the importance of innovation and adaptation in an era of economic transformation. By anticipating this pivotal shift, the report invites policymakers and financial leaders to consider the strategic implications of embracing Bitcoin as part of a diversified reserve portfolio.

    Circle Unveils 2025 USDC Economy Report Highlighting Rapid Growth

    Circle Internet Group, Inc., has released its usdc-circulation-soars-78-year-over-year-circle-unveils-2025-state-of-the-usdc-economy-report”>third annual report detailing the rapid adoption of USD Coin (USDC) and its impact on the global financial system. The 2025 statistics emphasized USDC’s role in advancing a faster, more accessible, and programmable financial infrastructure as stablecoins gain traction worldwide. The data highlights USDC’s 78% year-over-year growth in circulation, which has outpaced other major stablecoins. In November 2024 alone, USDC processed $1 trillion in transaction volume, contributing to its all-time transaction volume surpassing $20 trillion. Circle credits this growth to increasing regulatory clarity. Notably, USDC achieved compliance milestones such as the European Union’s Markets in Crypto Assets (MiCA) regulation and Canada’s new listing rules. ???? The 2025 State of the USDC Economy Report is here! USDC continues to demonstrate its strength as a leading platform for global financial inclusion. Dive into the highlights from the past year: https://t.co/5H9fcBzqk2 USDC circulation grew 78% year-over-year, outpacing the… pic.twitter.com/31RRgwvYBd— Circle (@circle) January 14, 2025 Circle Milestones and Adoption Highlights The report underscores Circle’s role in bridging fiat and blockchain systems, with over $850 billion exchanged since 2018. These integrations support banks, payment providers, and businesses in executing real-time global settlements at low costs. In October 2024, Circle introduced EURC, USDC’s euro-backed counterpart. It became the largest euro-backed stablecoin, surpassing $1 billion in weekly transfer volume. Additionally, Binance adopted USDC for its corporate treasury and expanded access to over 250 million global users. Interestingly, interoperability has also been a focus for Circle, with its Cross-Chain Transfer Protocol (CCTP) facilitating $20 billion in transfers across 16 blockchains. Challenges and Future Outlook While USDC has made significant strides, the report also highlights areas where further adoption and regulatory harmonization are needed. Stablecoins remain under scrutiny by policymakers aiming to balance innovation with financial stability concerns. Overall, Circle’s report positions USDC as a critical driver of financial modernization, emphasizing its role in enabling faster, cheaper, and more inclusive digital transactions. As stablecoins solidify their place in the monetary ecosystem, USDC’s trajectory appears poised for continued growth.

    Losses Hit Close To 50% Of Cardano (ADA) Investors

    Cardano (ADA) became the center of attention in the Web3 space courtesy of its dwindling market showings that saw it drop drastically over the past few days.  Per Cardano’s data on Coincodex, the coin asset is changing hands at roughly $0.61, having dropped by about 4.36% in the past 24 hours.  Other significant statistics revealed that ADA has declined by 15.4% in the past week, and sentiment shifted towards a bearish outlook. Nevertheless, the coin is still trading above the 200-day Simple Moving Average (SMA), radiating a glimmer of hope for ADA amid the market declines. IntoTheBlock Releases Cardano (ADA) Holders’ Statistics  IntoTheBlock, a provider of on-chain digital assets analysis, recently released Cardano (ADA) owners statistics, which reflected the coin’s present market status.  According to the released data, no fewer than 43% of ADA Investors are currently recording losses, as against 57% still privileged to be registering profits. Furthermore, the analytical platform revealed that only 34% of ADA’s total supply is held by whale investors. Also, 33% of the coin holders have held on to the token for less than a year. The estimations above could be said to have summarized Cardano’s predicament. The lack of whale activities implies that most large investors do not consider ADA a good choice for profit-oriented investment. On the other hand, 33% of short-term token holders depict a lack of trust in the coin’s prospects for the future.  ADA’s Woes Deepen With Recent CoinGecko Crypto Ranking CoinGecko recently has published the list of the top 20 most popular blockchain ecosystems on its platform.  Surprisingly, Cardano (ADA) failed to make the top 10, as it could only manage to cling to the 13th position despite the efforts by the coin’s development team.  Ethereum (ETH), Cardano’s main competitor did not only make the top five, as it was ranked the second most popular blockchain on CoinGecko.  Other cryptocurrencies making up the top five most popular ecosystems in an ascending order fashion included Solana (SOL), BNB Smart Chain (BSC), COSMOS (ATOM), and Avalanche (AVAX).  It is left to see how CoinGecko’s ranking would influence Cardano’s development team. ADA enthusiasts will hope it spurs those in charge of their favorite cryptocurrency ecosystem development to up their game to defeat market competitors. 

    Top 9 Crypto Tax Software Solutions in 2025

    crypto tax software

    With the rapid growth of the cryptocurrency market, governments around the world have imposed tax regulations on digital assets. However, calculating and reporting crypto taxes can be complex and time-consuming due to the unique nature of cryptocurrencies. Crypto tax software is designed to assist individuals and businesses in managing and reporting their cryptocurrency-related tax obligations. The software simplifies this process by automating the tracking, calculation, and reporting of taxable events, such as trades, sales, and mining activities. And in turn helps users accurately determine their tax liabilities, generate necessary tax forms, and ensure compliance with tax laws.  In this guide, we’ve organized a list of the Top 9 Crypto Tax Software Solutions in 2025. These user-friendly platforms are designed to streamline your tax reporting process, saving your valuable time and ensuring accuracy every step of the way. Summary Top 9 Crypto Tax Software Solutions in 2025 TaxBit TaxBit is a crypto tax software that was launched in 2018. It provides real-time insights into the tax implications of every crypto trade in your exchange and wallet accounts.The software is designed to simplify the complexities of calculating capital gains, losses, and tax liabilities associated with cryptocurrency transactions. One of the key features of TaxBit is its seamless integration with various cryptocurrency exchanges, wallets, and platforms. This integration allows users to import their transaction data automatically, eliminating the need for manual data entry and significantly reducing the chance of errors.  By consolidating transaction data from multiple sources, TaxBit provides a centralized platform for comprehensive tax reporting. TaxBit’s software supports different tax accounting methods, including FIFO, LIFO, and specific identification. This flexibility allows users to choose the most suitable method for their tax reporting needs. The software performs accurate calculations based on the imported transaction data and selected accounting method, ensuring compliance with tax regulations. Pros of Taxbit Cons of Taxbit CoinTracker CoinTracker was founded in 2017 by Chandan Lodha and Jon Lerner. It is a well-known cryptocurrency tax software that provides individuals, businesses, and tax professionals with a platform to track, manage, and report their cryptocurrency portfolios for tax purposes. The software has many tools to make it easier for you to deal with the tricky parts of reporting taxes on cryptocurrency. Besides helping with taxes, It also lets you keep track of how well your crypto investments are doing. It shows you things like how much crypto you have, where it’s invested, and how it’s growing over time. This helps you see the big picture of your crypto investments and make smarter decisions about them. One notable feature of CoinTracker is its ability to handle complex transactions such as trades, swaps, and staking rewards, which can be challenging to track manually. The software calculates capital gains and losses based on transaction data, enabling users to generate accurate tax reports for their crypto activities. Pros of  CoinTracker Cons of CoinTracker ZenLedger ZenLedger is a crypto software which positions itself as a user-friendly platform that can streamline your crypto tax reporting process. It aims to make the process of tracking and managing cryptocurrency transactions accessible to users with varying levels of experience and technical knowledge. The software supports a wide range of cryptocurrencies, including popular ones like Bitcoin and Ethereum, as well as less common tokens. It ensures compatibility with diverse cryptocurrency portfolios, allowing users to manage all their holdings within a single platform. ZenLedger provides valuable tools for cryptocurrency tax management, users should consult with a tax professional or accountant to ensure compliance with local tax laws and regulations.  Pros of ZenLedger Cons of ZenLedger CoinTracking CoinTracking is a cryptocurrency tracking and tax reporting software that supports users in monitoring their trades with an in-depth portfolio tracker and generating tax reports. It’s one of the most popular and powerful crypto tax tools on the market. It generates tax reports and forms, including IRS Form 8949, Schedule D, and other country-specific tax reports, making it easier for users to accurately report their cryptocurrency gains and losses. However, it provides capital gains summaries, income reports, and other tax-related documents that can be used during tax preparation and filing. The software offers several features and benefits that make it a popular choice among individuals, traders, and tax professionals. Pros of CoinTracking Cons of CoinTracking Koinly Koinly is an online crypto tax platform that helps users monitor all their crypto transactions and generate regulatory-compliant tax reports. It was founded in 2018 by Robin Singh and has offices in the UK, US, Sweden, and Germany. This is a cryptocurrency tax software designed to assist individuals, traders, and tax professionals in managing their cryptocurrency transactions and fulfilling their tax obligations. It provides tools and features that simplify the process of tracking, calculating, and reporting cryptocurrency gains, losses, and taxable events for tax purposes. It supports over 6,000 cryptocurrencies and is available in over 20 countries, including the UK, Canada, the US, New Zealand, and Australia. Pros of Koinly Cons of Koinly TokenTax TokenTax is a crypto tax software and a full-service accounting firm. It is designed to help you prepare your crypto taxes with features such as fast data import, real-time estimates, and expert support. One of the main challenges with cryptocurrency taxation is the tracking and reporting of transactions across multiple exchanges and wallets. TokenTax addresses this challenge by integrating with various cryptocurrency exchanges and wallet providers, allowing users to import their transaction data directly into the platform. This eliminates the need for manual data entry and greatly reduces the potential for errors. It helps individuals, traders, and businesses simplify the process of calculating and reporting their cryptocurrency taxes. Pros of TokenTax Cons of TokenTax Coinpanda Coinpanda is a cryptocurrency tax software platform that helps individuals and businesses manage their cryptocurrency tax reporting and compliance. It offers tools and features to simplify the process of calculating capital gains, losses, and tax obligations associated with cryptocurrency investments. However, it supports the import of transaction data from over 300 cryptocurrency exchanges, wallets, and platforms, reducing the need for manual

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