New Delhi | Jagran Technology Desk: One crypto name that has caught the attention of virtual currency enthusiasts around the world is TATA Coin. The community-driven cryptocurrency rose more than 1,200 percent, from $0.008 to $0.24 over the course of 24 hours between March 4 and March 5, 2022.
According to a report in CNBC TV18, TATA coin now has a diluted market cap of $718,300, which is considered significant for a relatively unknown cryptocurrency.
TATA coin: what are its features?
TATA coins are said to be designed in such a way that they cannot go beyond the stock of 9 million coins. This design feature cannot be changed by any community or organization. Reports say this sets it apart from the investment options like gold and stocks where the rise or fall in value is relative and dependent on a number of factors. ownership of the coin’s smart contract, which falls under the Binance Smart Chain, has been relinquished so that no one can change its functions in the future.
TATA Coin: Key Differences
The direction of a cryptocurrency’s value is often determined by the individuals with the most number of coins. These people are usually the developers. In the case of TATA coins, developers do not own any coins. It has 100 percent public liquidity. TATA Coins also claims to bring good money to the world, traders while empowering users with low fees.
TATA coin: where is it?
TATA coin is the latest to rise in the ranks of cryptocurrencies but is at 2953 spot on CoinMarketCap.
In India, Finance Minister TV Somanathan said last month that Cryptocurrency will never be legal tender.
The 2022-23 budget also clarified the taxation of virtual digital assets and proposed a 30 percent tax on profits on such transactions, in addition to subjecting crypto transactions above a threshold to 1 percent TDS.
Posted by: Mukul Sharma