Retail Investors Are More Bullish on Cardano’s ADA Than BTC, Survey Shows
Retail investors in the United States are now more bullish on Cardano’s ADA than they are on the flagship cryptocurrency Bitcoin (BTC), according to a recent survey by crypto broker Voyager Digital. The results come after Cardano hit an all-time high near $1.5 last month, briefly becoming the fourth-largest crypto asset by market capitalization.
Bitcoin now has 10% of gold’s market cap, more than 50% of Apple’s and silver’s
As the current Bitcoin rally continues, the asset’s market capitalization is also gaining momentum in a bid to catch up with leading traditional assets like gold. With a market cap of $1.07 trillion, Bitcoin now accounts for 9.85% of Gold’s $10.9 trillion. The digital currency’s market capitalization also represents about 53.08% of Apple’s $2.07 trillion. Elsewhere, Silver has a market cap of $1.42 trillion, Bitcoin accounting for 76.09%.
Another Purchase: MicroStrategy $15 Million Worth of Bitcoin
The NASDAQ-listed cloud technology provider, MicroStrategy, continues with its DCA strategy by purchasing 262 more bitcoins worth $15 million. MicroStrategy announced on Friday that it had added another chunk of 262 bitcoins to its sizeable stack of over 91,000 tokens.
Badger DAO to acquire ‘Badger.com’ domain for $300,000
Badgers now have a new home: the Defi protocol has purchased the “badger.com” domain for a tidy $300,000. The Badger DAO community is ‘sett’ to migrate to some new ‘digs: the decentralized finance project will shortly become the new owner of the “Badger.com” web domain.
Chainlink Set To Surge with Release of Dynamic NFTs, Says Crypto Trader Tyler Swope
Crypto analyst and trader Tyler Swope are placing Chainlink (LINK) in the spotlight as the oracle project prepares to dive headfirst into the non-fungible token (NFT) space. NFT projects such as Ether Cats are already implementing the Chainlink VRF on their platforms to create dynamic NFTS.
India was said to have a “robust” digital assets regulatory regime. The IAMAI called on the Indian Government on Wednesday not to ban cryptocurrencies. The IAMAI appeal was made.
The IAMAI proposes to the government that “solid mechanisms” be implemented to regulate cryptocurrency, because, according to the Hindu Business Line report, the country could see significant advantages from digital assets like job creation.
“Given the scale and diversity, the good governance and regulation of the cryptocurrency ecosystem in India is critical and will give impetus to the government of India’s Digital India vision,” said the IAMAI.
The Indian government plans to include a bill in the ongoing budget session of the Parliament prohibiting “private cryptocurrencies,” but it does not know the scope of the bill.
The Indian Minister, Anurag Thakur, said on Friday that before deciding on their legality the government needs to investigate risks to national security posed by virtual currencies. IAMAI previously contributed to the successful challenge of banking for crypto companies overturned in March last year by the central bank.
As per IAMAI, more than 10 million crypto-owners hold crypto assets worth over USD 1 billion, more than 300 start-ups create tens of thousands of employees and hundreds of millions of dollars in income and taxes.
“There’s a daily trading volume of USD 350 million – USD 500 million,” it added. The ban on crypto-monetary systems is expected to be “adverse” and leads to a loss of investment and hit 10 million Indian crypto clients, he said.
“Hence, we are urging the government to define the cryptocurrency regulation framework after due consultation with IAMAI and stakeholders such as India crypto-asset user groups and the exchanges that facilitate buying and selling,” IAMAI said.
Earlier in the month, Minister of Finance Nirmala Sitharaman said the government still formulates and will take a calibrated position on cryptocurrencies. With the development of India’s CBDC, the regulatory framework can also define a bridge from the forex point of view between the proposed digital Rupee and public blockchains.
Bitcoin wallet firm Exodus earlier this year sold $75 million in common stock in the company, purchasable only through its wallet. The sale was notable for the company’s decision to only accept Bitcoin……….. Read Full Coverage
The IAMAI’s Blockchain and Crypto Assets Council would establish a formal board of lawyers, technological experts, and fintech compliance experts to assure self-regulation. Read Full Coverage….
Coinbase stated Tuesday that it has formally listed dogecoin on Coinbase Pro, a huge milestone that exposes the “joke” cryptocurrency to one of the world’s top bitcoin and crypto exchanges, after teasing it earlier this month. In a blog post, Coinbase stated that it will “immediately” begin accepting inbound dogecoin transfers to Coinbase Pro in … Continue reading “Dogecoin Price might Explode Soon as Joke Crypto gets Listed on Coinbase Pro”
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Bitcoin wallet firm Exodus earlier this year sold $75 million in common stock in the company, purchasable only through its wallet. The sale was notable for the company’s decision to only accept Bitcoin……….. Read Full Coverage
The IAMAI’s Blockchain and Crypto Assets Council would establish a formal board of lawyers, technological experts, and fintech compliance experts to assure self-regulation. Read Full Coverage….
Coinbase stated Tuesday that it has formally listed dogecoin on Coinbase Pro, a huge milestone that exposes the “joke” cryptocurrency to one of the world’s top bitcoin and crypto exchanges, after teasing it earlier this month. In a blog post, Coinbase stated that it will “immediately” begin accepting inbound dogecoin transfers to Coinbase Pro in … Continue reading “Dogecoin Price might Explode Soon as Joke Crypto gets Listed on Coinbase Pro”
Ethereum Forms Bullish Pattern, Why Close Above $1,850 Is Critical
Ethereum is holding gains above $1,750 against the US Dollar. ETH price is likely setting up for a crucial upside break above the $1,850 and $1,880 resistance levels. Ethereum corrected further lower below the $1,750 support zone, whereas bitcoin extended its rise. However, ETH remained well bid above $1,720 and $1,700 levels.
Bitcoin Price Prediction: BTC is gearing up for correction to $50,000 if the $58,000 hurdle remains unshaken
Bitcoin fails to enter a new price discovery mode due to a rejection suffered marginally above $58,000. BTC risks breaking down massively amid the formation of two bearish patterns. Support is anticipated at $56,000, 54,000 and $52,000 to halt the declines before reaching $50,000.
Crypto bank BlockFi reaches $3 billion valuations after $350m raise
Crypto lender BlockFi has raised over $350 million in a Series D round and is now valued at over $3 billion, the firm said in a release today. The firm is one of the few reputed ‘CeFi’ firms that allow people to earn a yield on their cryptocurrencies—6% on Bitcoin and over 8.6% on stable coins.
Zilliqa blockchain establishes investment and business entity to grow the ecosystem
Through a network of strategic investments, Zilliqa Capital looks to nurture entrepreneurs and developers to further cement Zilliqa’s position as the blockchain platform of choice across Southeast Asia and India, all while enhancing its impact globally.
Popular Crypto Trader Predicts Massive Altcoin Rally This Month
Popular crypto trader Capo is predicting a deep pullback for bitcoin in the coming month, leading to the ignition of an altcoin rally. In a recent series of tweets, Capo said bitcoin’s dominance index is waning, giving an indication that altcoins are about to experience a rally.
Bitcoin wallet firm Exodus earlier this year sold $75 million in common stock in the company, purchasable only through its wallet. The sale was notable for the company’s decision to only accept Bitcoin……….. Read Full Coverage
The IAMAI’s Blockchain and Crypto Assets Council would establish a formal board of lawyers, technological experts, and fintech compliance experts to assure self-regulation. Read Full Coverage….
Coinbase stated Tuesday that it has formally listed dogecoin on Coinbase Pro, a huge milestone that exposes the “joke” cryptocurrency to one of the world’s top bitcoin and crypto exchanges, after teasing it earlier this month. In a blog post, Coinbase stated that it will “immediately” begin accepting inbound dogecoin transfers to Coinbase Pro in … Continue reading “Dogecoin Price might Explode Soon as Joke Crypto gets Listed on Coinbase Pro”
The first alarm sounded by Indian policymakers was Bitcoin and other private cryptocurrencies in 2017. One year later its central bank, the Reserve Bank of India, banned crypto accounts.
This affected to a large extent local crypto companies and even retailers. However, in March the Supreme Court of India ruled that the move was unconstitutional, only in view of the crypto boom following a rally of Bitcoin in 2020.
In the cryptographic product and services business, the nation currently has about 342 companies. Following the 2020 Supreme Court decision, the majority of these crypto-centered “startups” mushroomed over the ban.
One year after the ban was lifted, almost $13.9 billion entered the industry and created nearly 7.5 million active traders. Even the country’s average volume of trade has therefore increased by 500%.
An industry that, to say the least, is still emerging may be shocked by a current ban. As the director of Blume Ventures Arpit Agarwal advises Unocoin that he has invested in Bangladesh-based cryptography: if regulators allow for prohibition, the Indian crypto community will return to its position in 2018. He thought that his best efforts were to educate legislators.
Nirmala Sitharaman, Indian Minister of Finance, recently gave the crypto sector hope a recent comment. She further said that regulators did not “close their “minds”: We want to make sure there is a window for all sorts of experiments in the crypto-world.”
The position on cryptocurrency will be very calibrated. Fairly speaking, RBI plans to issue a digital rupee, a project similar to China’s e-Yuan, which are parallel to the most recent proposal to ban encryption. The CBDC “receiving full attention,” according to the Governor of the Central Bank, Shaktikanta Das.
The focus has increased on Bitcoin and other private cryptos, like Ethereum. This increased the overall crypto market share by over $1 trillion, largely because of a trillion dollars surge in Bitcoin’s own market capital.
As India is the 11th nation in terms of adopting cryptography, a heavy-handed decision could lead to problems behind doors. Some believed the prohibition would have an impact on real companies that “completed the government” or on investors who “disclosed their holdings,” and on the rest of the sector, on “unregulated grey markets.”
CBDC in India
As a probable alternative to the financial ecosystem, crypto-monetary assets came into play after the 2008 global financial crisis. Various crypto-assets have various cases of use.
Of the thousands of crypto-assets, one prototype, known as the CBDC, has a value attached to the native currency of a country. Most of the CBDCs are centralised, issued and regulated by a monetary authority in a country. No country in the world has yet been officially launching a central bank supported digital currency, apart from the Bahamas and its “Sand Dollar.”
However, many central banks have launched pilot programmes and research projects to determine the viability and usability of CBDC, the most prominent being the People’s Bank of China Digital Currency Electronic Payment (DCEP), which is currently testing digital-yuan prototyping.
Bank of England (BOE) was the first major central bank to launch a CBDC proposal based on technology associated with blockchain. The central banks of other countries, such as the Bank of Canada, the Chinese People’s Bank and central banks, have tried to keep pace, among other countries, such as Uruguay, Thailand, Venezuela, Sweden and Singapore.
CBDC is an option in India which regulatory bodies have taken into account for a long time. RBI had floated with a government-backed digital currency when its central bank, the Reserve Bank of India (RBI), imposed it.
The road ahead for cryptocurrency trading in India
Recently the Indian Government has considered banning all crypto-currency assets (either private or otherwise) and once again introducing a digital rupee. However, Minister of Finance Nirmala Sitharaman also said during the weekend that the government is considering a “calibrated” approach to cryptography—a sign that encourages industry.
Crypto as an asset has enormous potential and can help India earn significant revenues if properly administered. Furthermore, the government will only help develop a robust CBDC by using open-source cryptography.
Does India have room for both CBDC and Bitcoin?
The global market for cryptocurrency is now worth US$1.6 trillion at the macro level. There are close to 75 lakhs in India—or 7.5 million Indians who invest in crypto assets and over 340 companies now offer bitcoin and other products and services for digital currency.
Many of these crypto companies have been founded by startups in the wake of RBI’s March 2020 banking ruling of the Supreme Court. A local news portal reported that since the Supreme Court decision, the average trading volume has risen by 500%. Further, in 2020, investments in the amount of $24 million flowed into crypto enterprises according to Venture Intelligence.
The new technologies would lose a lot if the government was to go ahead and draw up a bill prohibiting the trading of crypto assets. This sector employs people, lawyers, accountants, software developers, who, in one blink of an eye, are made unemployed.
Several noteworthy risk capital investors are keen to emphasise the cryptocurrency industry in India that would have to look elsewhere. India has every means of becoming a world leader and the country could be rescued by at least a decade from that potential ban.
Our request for the Government to regulate crypto equipment as a store of value and not as a currency would be one of the key actors of India in this industry. We would like to engage in dialogues with the interested government stakeholders and help the country take its rightful position on the global cryptographic stage.
Bitcoin wallet firm Exodus earlier this year sold $75 million in common stock in the company, purchasable only through its wallet. The sale was notable for the company’s decision to only accept Bitcoin……….. Read Full Coverage
The IAMAI’s Blockchain and Crypto Assets Council would establish a formal board of lawyers, technological experts, and fintech compliance experts to assure self-regulation. Read Full Coverage….
Coinbase stated Tuesday that it has formally listed dogecoin on Coinbase Pro, a huge milestone that exposes the “joke” cryptocurrency to one of the world’s top bitcoin and crypto exchanges, after teasing it earlier this month. In a blog post, Coinbase stated that it will “immediately” begin accepting inbound dogecoin transfers to Coinbase Pro in … Continue reading “Dogecoin Price might Explode Soon as Joke Crypto gets Listed on Coinbase Pro”
BuyUcoin will support Hydro Token (HYDRO) smart contract swap and redenomination plan. BuyUcoin will take a snapshot of all HYDRO balances at [2021-03-02 07:00 (UTC)] and begin swapping the old HYDRO tokens with the new HYDRO tokens at a ratio of 100:1. New HYDRO tokens will assume the HYDRO ticker. The details are as follows.
HYDRO Smart Contract Swap Alerts:
1. Deposits and withdrawals of HYDRO have been suspended on March 02, 2021 (UTC). 2. Trading will be suspended in all existing HYDRO trading pairs at 07:00 on March 02, 2021 (UTC). 3. Deposits and trading for HYDRO/USDT trading pairs will be notified soon.
1. HYDRO will not be credited to your account if you deposit HYDRO through an old smart contract address, so please confirm again before you deposit HYDRO to BuyUcoin. 2. The system will automatically close the order if your HYDRO orders are unexecuted at the time, and the related assets will be returned to your spot account. 3. BuyUcoin will notify withdrawal time and other trading pair of HYDRO to our users once there is any update.
BuyUcoin reserves the right of final interpretation of this announcement.
