The cryptocurrency habitat is dominated by heavyweights such as Bitcoin, Polygon, and BlockDAG. Bitcoin is on the verge of a significant milestone with a proposed bill allowing Bitcoin tax payments for federal income taxes. Polygon (MATIC) faces potential sell-off pressures.
Meanwhile, BlockDAG is experiencing a remarkable rise, propelled by its launch of the BlockDAG X1 Miner App on the Apple Store and an impressive $57.1 million in presale funds. This article details the steps to download the X1 app and updates on the latest news about Bitcoin and Polygon.
U.S. Moves Towards Bitcoin Tax Payments
Republican Congressman Matt Gaetz has introduced a bill proposing Bitcoin tax payments for federal income taxes, potentially setting a trend for other cryptocurrencies like XRP. The bill aims to amend the Internal Revenue Code to allow Bitcoin as a valid payment method, instantly converting Bitcoin to US dollars to maintain seamless tax processing.
This move, inspired by global trends such as El Salvador’s adoption of Bitcoin, aims to modernize the US tax system and enhance financial innovation. The proposal could significantly influence the regulatory arena and encourage broader crypto adoption, highlighting Bitcoin’s potential role in future financial systems.
Examining the Warning Signs of a Potential MATIC Sell-Off
Recent Polygon (MATIC) news indicates a potential sell-off. Key signals such as a deeply negative MVRV ratio suggest that short-term buyers face losses, which might prompt them to sell at any price bounce to break even.
Additionally, an increase in dormant circulation hints at a rise in selling pressure, potentially leading to further price declines. The current market structure is bearish, with technical indicators like the CMF and RSI confirming a downtrend, making recovery challenging for Polygon.
Quick Start Guide: BlockDAG App Onboarding
BlockDAG has successfully launched its Miner X1 App on the Apple Store, enhancing the mining experience with seamless integration into daily life. Initially scheduled for August, users can now start mining on Devnet immediately. Once the testnet is active, the mined BDAG coins will transition and eventually be visible on the mainnet. A detailed guide is available to simplify downloading and starting with the X1 App.
Firstly, initiate account setup by swiping right on the “Swipe Me” button on the main screen to start creating a BlockDAG account. Choose “Continue with Phone Number” to register, or select “Sign In” if an account already exists. Enter the phone number after selecting the country code, then tap “Send OTP.”
Optionally, add a referral code. Input the 4-digit OTP received and press submit. If issues arise, resend the OTP or return to the previous screen. After logging in, use the side menu to perform actions like generating BDAG coins, buying during presale, or accessing group settings. You can also adjust settings, manage account details, or navigate through FAQs and leaderboard stats from the respective sections in the app.
The leaderboard page showcases daily whale activity, attracting crypto enthusiasts by displaying BDAG coins generated and user rankings. This dynamic feature highlights top performers, fostering a competitive spirit and encouraging more engagement in the BlockDAG ecosystem.
Notably, BlockDAG has captured significant market interest by amassing $57.1 million in presale funds, currently in its 19th batch at $0.014 per coin. Following the successful introduction of the BlockDAG X1 Miner App on the Apple Store, with 12 billion coins already sold, industry experts are enthusiastic, predicting it might become the best crypto app of 2024.
Wrapping Up
To wrap up, while Bitcoin is poised for a major shift with a proposed tax payment bill, potentially setting a new standard, Polygon (MATIC) faces challenges with possible sell-off pressures. However, BlockDAG is experiencing substantial growth, highlighted by its BlockDAG X1 Miner App launch on the Apple Store and amassing $57.1 million in presale funds. These events underscore the dynamic and evolving nature of the crypto market, with each player navigating its own unique path.
Join BlockDAG Presale Now:
Website: https://blockdag.network
Presale: https://purchase.blockdag.network
Telegram: https://t.me/blockDAGnetworkOfficial
Discord: https://discord.gg/Q7BxghMVyu
