Quantum Cats Floor Values Reach New Heights
Taproot Wizards' Quantum Cats non-fungible token (NFT) series has seen a significant increase in trading volume and minimum value on the secondary market since its launch. Initially priced at 0.1 bitcoin per NFT, the lowest value of Quantum Cats now hovers around 0.303 bitcoin or $13,062.
Just 48 hours ago, Quantum Cats NFT launch faced some challenges. However, after generating over $12 million in initial sales, the prices of Quantum Cats have surpassed the initial cost of 0.1 BTC. Magic Eden reports that a total of 257.6658 BTC, equivalent to $11.1 million, has been transacted for Quantum Cats since their introduction to the secondary market.
In addition, the Ordinals series on the Okx Bitcoin inscriptions trading platform has recorded 245.3061 BTC or $10.57 million in transactions since its debut. Magic Eden lists the minimum value of the Quantum Cats collection at 0.303 BTC or $13,062, while Okx shows a minimum of 0.338 BTC or $14,571 per collectible. This indicates that the lowest value of the NFTs has increased more than threefold since their initial listing.
Currently, there are 533 out of the 3,333 NFTs available for purchase on Magic Eden, while Okx's inscriptions marketplace only has 28 NFTs, accounting for 0.84% of the collection. With 2,720 distinct holders, the Quantum Cats collection ranks as the top NFT series on both Okx and Magic Eden as of 9:00 a.m. Eastern Time on Wednesday.
Although Bitcoin-centric NFT sales trail behind Ethereum, with a total of $64,615,064 in sales over the past week compared to Ethereum's $100,712,013, Quantum Cats face fierce competition from established Bitcoin inscription series such as Bitcoin Punks and Ordinal Maxi Biz. Notably, just five days ago, Bitcoin Punk #60 was sold for $169,266, making it the highest-priced Ordinal inscription sold in the last week.
What are your thoughts on the rising value of Quantum Cats NFTs on secondary markets? Feel free to share your opinions in the comments section below.
Frequently Asked Questions
What are some of the advantages and disadvantages to a gold IRA
An excellent investment vehicle is a gold IRA. This is for people who wish to diversify but do not have access to traditional banking services. It allows you invest in precious metals like platinum, silver, and gold without any taxes, until they're withdrawn.
The downside is that withdrawing money early will pay ordinary income tax on the earnings. The funds are not located in the country and can be easily seized by creditors if your loan defaults.
So if you like owning gold without worrying about taxes, a gold IRA may be right for you.
What are the different types of IRA?
There are three main types of IRAs. There are three types of IRAs: Roth, Traditional, and SEP. Each has its own advantages and disadvantages. Each one will be discussed below.
Traditional Individual Retirement Accounts
A traditional IRA allows you to contribute pre-tax money to an account where you can defer taxes on contributions made now while earning interest. Once you retire, withdrawals from the account are tax-free.
Roth IRA
Roth IRAs allow you to deposit after-tax dollars into an account. This allows earnings to grow tax-free. You can also withdraw money from the account to retire your funds tax-free.
SEP IRA
This is similar to a Roth IRA but requires additional contributions from employees. These additional contributions can be taxed. However, any earnings are now tax-deferred. The entire amount can be converted to a Roth IRA if you are leaving the company.
Which type of IRA works best?
The most important thing when choosing an IRA for you is to find one that fits within your goals and lifestyle. Consider whether you are looking to maximize tax-deferred growth, minimize taxes and pay penalties later, avoid taxes, or both.
The Roth option is a good choice if you have a lot of money saved for retirement, but not enough to invest. The Roth option is also a smart choice if you work beyond the age of 59 1/2 and plan to pay income tax on any withdrawals.
Traditional IRAs might be more beneficial if you are looking to retire early. You'll likely owe income taxes. However, if your goal is to retire early, the traditional IRA might be more sensible. The Roth IRA allows you to withdraw some of your earnings or all without paying taxes.
Statistics
- To qualify as IRA allowable precious metals and be accepted by STRATA, the following minimum fineness requirements must be met: Gold must be 99.5% pure, silver must be 99.9% pure, and platinum and palladium must both be 99.95% pure. (stratatrust.com)
- Silver must be 99.9% pure • (forbes.com)
- You can only purchase gold bars of at least 99.5% purity. (forbes.com)
- Same tax rules as traditional IRA SEP IRA contributions in 2022 are limited to 25% of compensation or $66,000, whichever is less Before setting up a Silver IRA, understand the fees and IRS restrictions. (sltrib.com)
External Links
forbes.com
- Gold IRA, Add Some Sparkle to Your Retirement Nest egg
- Understanding China's Evergrande Crisis – Forbes Advisor
investopedia.com
takemetothesite.com
wsj.com
How To
How to turn your IRA into a IRA with gold content
You want to convert your retirement savings from a traditional IRA to a gold IRA. This article will show you how to do it. Here's how to make the switch.
The process of transferring money out of one type of IRA (traditional) and into another (gold) is called “rolling over.” This is done because tax advantages go along with rolling over an account. Some prefer to invest directly in physical assets like precious and rare metals.
There are two types IRAs: Traditional IRAs or Roth IRAs. The difference between the two accounts is simple. Roth IRAs have no tax deductions, but Traditional IRAs can deduct taxes. This means that if you have $5,000 invested in a Traditional IRA, you will only be able take out $4850 after five years. However, if you put the same amount into a Roth IRA you would be able keep every penny.
These are some things to consider if you plan to convert from a Traditional IRA to a Gold IRA.
First, you need to decide whether to roll over your current balance into a new account or simply transfer funds from your old account to your new one. You will pay income tax on earnings above $10,000 when you transfer money. However, if your IRA is rolled over, these earnings will not be subjected to income tax until age 59 1/2.
Once you have decided to open a new bank account, You'll likely be required to provide proof of identities, such as a Social Security card, passport, and birth certificate. Once you are done, you will fill out paperwork proving ownership of your IRA. Once you have filled out the forms, your bank will receive them. They'll verify your identity and give instructions on where to send the checks and wire transfers.
Now comes the fun part. Now, deposit money into your account and wait for approval from the IRS. You will be notified by mail that your request has been approved.
That's it! Now, all you have left to do is relax and watch your wealth grow. You can also close your IRA and transfer the balance to a new one if you change your mind.
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