From the miner exodus and the flipping question, to blockchain gaming and crypto tax law, to the Bundestag election check: This is what awaits you in the new Kryptokompass issue.
Ethereum: the new bitcoin?
When it comes to awareness and market capitalization, Bitcoin is still the undisputed top dog in the crypto forest. As of press time, Bitcoin accounts for 42 percent of total market capitalization. In other words, Bitcoin dominance stands at 44.5 percent. However, a look at the evolution of Bitcoin dominance shows a clear downward trend that started on January 1 – despite the all-time high that BTC set in April beyond $60,000.
Conversely, this means that capital has been flowing primarily into the altcoin sector in recent months. This is particularly impressive in the case of Ethereum. The smart-contract pioneer has seen its share of total market capitalization grow significantly since the beginning of the year. At the time of writing, just under one in five US dollars in the crypto space is invested in ETH: Ether “dominance” stands at 19 percent. Against the USD, ETH is up a whopping 650 percent between Aug. 26, 2020 and Aug. 26, 2021, while ETH/BTC is also up a handsome 100 percent. Based on this performance, some market observers are already predicting the “flipping” of ETH and BTC.
Christopher Klee explains the chances for a throne thrust in the Coin of the Month.
Zora in test – how to create your own Non-Fungible Token (NFT)
By now, it’s clear – 2021 is the year Non-Fungible Tokens made a breakthrough. In 2020, the world’s largest NFT trading platform saw just $24 million in trading volume. Since the beginning of 2021, over one billion US dollars worth of NFTs have now been traded. The sector is currently in an exponential growth phase. However, there are still major gaps in knowledge, especially when it comes to the “mechanics” of tokens.
If you’ve ever wanted to know how to actually create an NFT yourself, don’t miss Leon Waidmann’s Zora test report.
Blockchain Gaming: The gambling of the future?
For a long time it was always the same picture. Long lines with thousands and thousands of people waiting impatiently for admission to the Cologne exhibition halls – some of them even dressed up as elves, magicians or Jedi knights. This was the usual picture when Europe’s largest video game trade fair – Gamescom – called gamers from all over the world to come. In the two years before the pandemic, the organizers even reported new visitor records. 370,000 people made the pilgrimage to the Rhine metropolis to catch a glimpse of the latest video games and try out one or two titles in advance.
As in other parts of the event industry, however, Gamescom had to struggle with the consequences of the virus. Last year, the decision was made to hold a digital event at short notice – and this year was no exception. The gaming market, on the other hand, was not affected by the pandemic. In Germany alone, the Corona year 2020 meant a new sales record of 8.5 million euros.billion euros for the gaming industry – almost 2.1 billion more than in the previous year. It’s hardly surprising that blockchain gaming is also benefiting from these figures.
Daniel Hoppmann breaks down for you which titles in particular stand out from the blockchain gaming landscape, anchoring the technology in the video game industry in innovative ways.
Crypto Crime: Inside BMF – Crypto investors are threatened with tax-GAU
In Germany, the phenomena of blockchain and crypto assets have not yet received an independent legal framework, but according to the BMF, they are covered by tax law. The BMF thus takes the position that one is merely interpreting an existing legal situation. The courts will have to decide whether this is correct. A ministry may not play legislator. In any case, the result is more than sobering. Under the impression of the numerous comments from associations and practitioners, the Federal Ministry of Finance (BMF) promised to take a closer look at individual controversial topics such as airdrops or forks in the crypto tax draft. But the direction of travel is clear: the taxation of cryptocurrencies should reach a maximum.
What investors must now pay particular attention to in their tax returns, explain the tax lawyers Martin Figatowski and Thorsten Franke-Roericht in a guest article.
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