The latest rising star of crypto world TATA Coin that rose by 1,200 pc in 24 hours

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The latest rising star of crypto world TATA Coin that rose by 1,200 pc in 24 hours


 One crypto name that captivated the attention of virtual currency enthusiasts worldwide, is TATA coin. The community-driven cryptocurrency surged by more than 1200 per cent, going from $0.008 to $0.24 during 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 capitalization of $718,300, considered significant for a relatively unknown cryptocurrency.


TATA coin: What are the features?


TATA coin has reportedly been designed in a way that it cannot go beyond the supply of 9 million coins. This design feature cannot be altered by any community or organisation. Reports say that this distinguishes it from the investment options such as gold and stocks where the value’s ascension or descension is relative and depends on a number of factors. the ownership of the coin’s smart contract, which is under the Binance Smart Chain has been renounced so that no one can change its functions in the future.


TATA coin: Key differences


The direction of the value of a cryptocurrency is many times determined by the individuals holding the most number of coins. These individuals are mostly the developers. In the case of TATA coin, developers do not own any coins. It has 100 per cent public liquidity. TATA Coins also asserts to bring sound money to the world, merchants while users are empowered with low fees.


TATA coin: Where does it stand?


TATA coin is the latest to rise among the ranks of cryptocurrencies but finds itself at 2953 spot on CoinMarketCap.


In India, Finance Secretary T V Somanathan said last month that Cryptocurrency will never be a legal tender.


The 2022-23 Budget also gave clarity on taxation of virtual digital assets and proposed to impose a 30 per cent tax on gains made on such trades, besides subjecting crypto transactions, beyond a threshold, to 1 per cent TDS.

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