Binance Introduces Tax Calculation Tool For Up To 100K Transactions – February 6

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$23,088

Bitcoin price is sitting around the $23,000 mark once again, following a brief support test of the mid-$22,000s.

Top-20 altcoins have mostly traded flat over the last 24 hours, as Ether and BNB each gain less than 1%, Polkadot gains 1% and Tron falls 1%.

Top Stories for February 6, 2022 🔥

👉 Binance Introduces Tax Calculation Tool For Up To 100K Transactions

Crypto exchange giant Binance has introduced a free tool to help users calculate the tax obligations on their crypto transactions.

The tool, initially available in Canada and France, supports reporting on up to 100,000 transactions and can be used with just one click to import transactions from Binance.

The tool aims to simplify the calculation of gains and losses throughout the year for frequent traders. Binance plans to expand the tool to other regions in the future.

👉 Lightning Network Hits New All-Time High For BTC Capacity

Bitcoin’s Layer-2 payments infrastructure, the Lightning Network, has reached an all-time high in terms of the amount of Bitcoin held in its payment channels.

The capacity has grown 63% since the beginning of last year, with over 5,490 BTC ($128 million) in capacity currently, which is seen as a positive sign for the adoption of Bitcoin transactions.

The Lightning Network is designed to enable fast and cheap micropayments by allowing participants to transact directly without the need for immediate settlement on the blockchain.

👉 Coinshares Sees Four Weeks Of Inflows In A Row

Digital asset manager Coinshares has reported four consecutive weeks of inflows to its crypto investment products, with a total of $76 million coming in last week.

Last week’s inflows bring the year-to-date total to $230 million – a figure that Coinshares describes as “highlighting a decisive change in investor sentiment for the beginning of 2023.”

Bitcoin dominates the numbers, making up 90% of the previous week’s figure.