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Bitcoin, Most Cryptocurrencies Register Losses, Total Sector Valuation Also Drops

The festive cheer has failed to penetrate the crypto market as majority cryptocurrencies opened with losses on Friday, October 21. Less than three days before Diwali, Bitcoin opened with a loss of 1.01 percent in India. As per Gadgets 360’s crypto price tracker, BTC values currently stands at the price point of $19,063 (roughly Rs. 15.77 lakh) in India. Even on international exchanges, BTC could not manage to bring in profits. As reflected by Binance and CoinMarketCap, BTC values are hovering around the mark of $19,076 (roughly Rs. 15.78 lakh) with a loss of 0.30 percent.

Ether values also slipped by 0.38 on Friday. As per the Gadgets 360 crypto price tracker, ETH is trading at $1,287 (roughly Rs. 1.06 lakh).

Both top two cryptocurrencies last created their respective all-time highs (ATHs) on November 9 last year. While BTC’s last ATH was around $68,000 (roughly Rs. 56 lakh), ETH’s figure was $4,700 (roughly Rs. 3.47 lakh).

As per their current market movement, the chances of BTC and ETH even coming close to their previous ATHs seems like a far-away possibility.

Meanwhile, majority cryptocurrencies tailed meekly behind BTC and ETH to register losses today.

These include Tether, USD Coin, Binance Coin, Ripple, Cardano, and Solana.

Dogecoin and Shiba Inu also witnessed dips alongside Avalanche, Litecoin, Chainlink, as well as Cosmos.

“Monitoring US’ inflation and macroeconomic variables will be key to determining capital allocation for investors and correspondingly be an indication as to when the equity markets and by extension the crypto bottom hits in case it hasn’t already, as price action is still currently highly inversely correlated with the DXY (Dollar Strength Index),” the CoinDCX research team told Gadgets 360.

In the last 24 hours, the total valuation of the crypto sector slid down by 0.58 percent.

At this point, the total market cap of the crypto industry stands at $914.43 billion (roughly Rs. 75,66,574 crore). The valuation fell from its trillion-dollar mark in September.

Only a handful of cryptocurrencies managed to see gains today. These include Tron, Bitcoin Cash, Elrond, Iota, and Dash.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Bitcoin Fails to Touch $20,000 Mark, Many Altcoins See Dips Ahead of Weekend

As October steps into its second weekend, the crypto market showed signs of volatility that remained prevalent throughout the week. Bitcoin opened with a minor gain of 1.88 percent on Friday, October 14. As per the crypto price tracker by Gadgets 360, BTC stuck to its months-old price point of $19,437 (roughly Rs. 15.90 lakh), failing to crawl over the $20,000 mark (roughly Rs. 16.46 lakh). On Binance and Coinbase, BTC garnered similar miniscule gains to maintain its value around $19,818 (roughly Rs. 16.30 lakh).

Ether, in the backdrop of daily market fluctuations, opened with losses on Friday. As per Gadgets 360’s crypto price tracker, ETH is trading at $1,294 (roughly Rs. 1.06 lakh) with a value dip of 0.15 percent.

With the top two cryptocurrencies having varied in their market movements, other altcoins were automatically divided into two groups — the ones that follow BTC’s trajectory and the ones that slipped down the ladder with ETH.

Polygon, Shiba Inu, Uniswap, Wrapped Bitcoin, Cosmos, Stellar, and Monero lined up with profits behind BTC.

On the other side, Tether, Binance USD, Ripple, Cardano, Solana, and Polkadot saw losses.

“The overall market cap plunged below $1 trillion (roughly Rs. 82,34,055 crore). BTC remained more resilient than ETH and other altcoins. BTC is down ~2 percent and trading just under $20,000 (roughly Rs. 16 lakh). The top 20 tokens are trading in the red with Cardano (ADA), Solana (SOL), and Binance Coin (BNB) slipping over 10 percent during the week,” the research team at Indian exchange CoinSwitch Kuber told Gadgets 360.

With a 3.08 percent rise over the last 24 hours, the global crypto market currently stands at the valuation of $942 billion (roughly Rs. 77,56,462 crore).

There are several factors that have dented the crypto markets in recent days. The inflation for US in September stood at 8.2 percent, a notch higher than street estimates of 8.1 percent, but lower than 8.3 percent in August. The Core Consumer Price Index (CPI) Inflation that excludes food and energy prices touched a 40-year high at 6.6 percent.

Meanwhile, Wall Street tumbled amidst fears of another possible Fed rate hike, but soon recouped the losses, on the hopes of bottoming out. Despite these ups and downs, crypto assets continue to stir interest among investors on a daily basis.

“CRE8, an Indian Rupee denominated Virtual Digital Asset (crypto) index was down 1.91 percent in the past seven days. BTC, ETH, BNB, Ripple (XRP), and ADA emerged as the top eight most traded coins among investors trading crypto assets in Indian Rupees. The Index value stood at Rs. 2627.48 at 8 AM, October 14, 2022,” the CoinSwitch team noted.

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Bitcoin Moves Past $20,000 for the First Time in October, Altcoins Pick Up on BTC Momentum

Bitcoin and the wider cryptocurrency market climbed higher in trading on Tuesday after experiencing a turbulent month of October so far, with BTC posting its biggest two-day increase in almost a month. As things stand, the value of Bitcoin is up by 2.57 percent in the last 24 hours with its price now around the $20,100 (roughly Rs. 16.36 lakh) mark across global exchanges, while Indian exchanges like CoinDCX value BTC at $21,066 (roughly Rs. 17.15 lakh), 1.83 percent higher than that on early Tuesday.

On global exchanges like CoinMarketCap, Coinbase, and Binance, the price of Bitcoin stands at $20,128 (roughly Rs. 16.38 lakh) while CoinGecko data shows that BTC’s value now sits 5.4 percent lower than where it stood last Wednesday.

Ether, the largest smart contracts token had seen itself begin the week on a bit of an upturn and that bullish momentum has continued. Ether is currently up by roughly 1.5 percent over the past 24 hours, trading in the $1,350 (roughly Rs. 1.1 lakh) range across global exchanges. Meanwhile on Indian exchanges, ETH is valued at $1,432 (roughly Rs. 1.16 lakh) where values are up by 2.39 percent over the past day.

Gadgets 360’s cryptocurrency price tracker reveals that most major altcoins had a similar climb mid week with the global crypto market capitalisation also climbing 1.95 percent through late Tuesday and early Wednesday.

Cardano, Avalanche, Uniswap, Cosmos, Solana, Polygon, TRON, Monero, Chainlink, and BNB all marked considerable gains over the last 24 hours.

Memecoins Shiba Inu and Dogecoin share a similar plight. Dogecoin is currently valued at $0.06 (roughly Rs. 5.26) after adding 5.1 percent in value over the last 24 hours, while, Shiba Inu is valued at $0.000011 (roughly Rs. 0.000936), up 3.09 percent over the past day.

“The 24-hour Bitcoin trading volume jumped by a whopping 35 percent to cross $33 billion (roughly Rs. 2,68,783 crore) as investors around the globe are looking at younger assets to safeguard their wealth from falling fiat currencies. Crypto assets like Bitcoin and Ether are being utilised by individuals as a store value to beat inflation. The weak bond yields and delayed recovery in the stock market are pushing investors towards digital assets to achieve their financial goals. If we look at historical data, Bitcoin always performs better in October and continues the momentum till the end of the year, Bitcoin touched its lifetime high of $69,000 (roughly Rs. 56.2 lakh) in November last year,” said Tarusha Mittal, COO, and co-founder of group staking platform, UniFarm commenting on Bitcoin moving beyond $20,000 (roughly Rs. 16.3 lakh) for the first time in October.

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Bitcoin, Ethereum, Majority Tokens Record Profits as Crypto Price Charts Turn Green

After a day of trading lowly, majority cryptocurrencies stepped into Tuesday, October 4 with gains. Bitcoin, with a price hike of 1.96 percent, opened trading at $19,554 (roughly Rs. 15.80 lakh) as per Gadgets 360’s crypto price tracker. Profits on a similar scale also hit Bitcoin on international exchanges. As per Binance and CoinMarketCap for instance, Bitcoin is trading at a price point of $19,596 (roughly Rs. 16 lakh) after garnering gains of up to 2.20 percent. Experts have predicted that if BTC prices exceed the price point of $20,000 (roughly Rs. 16.30 lakh), majority cryptocurrencies will see long-term recovery.

Ether reeled-in bigger gains than Bitcoin. Almost two weeks after the launch of Ethereum’s eco-friendly upgrade called the Merge, ETH prices have touched the price point of $1,322 (roughly Rs. 1.07 lakh). As per Gadgets 360, ETH prices have spiked by 2.25 percent.

Majority altcoins followed BTC and ETH on the gain trail.

These include stablecoins such as Tether, Binance USD, and Ripple as well as other altcoins including Binance Coin, Cardano, Solana, Polkadot, and Polygon.

Meme coins Shiba Inu and Dogecoin also saw price hikes.

The global crypto market cap rose by 1.75 percent to reach the valuation of $943.77 billion (roughly Rs. 7,697 crore), as per CoinMarketCap.

Meanwhile, only Tron, Stellar, Bitcoin SV, and Terra emerged as loss-making altcoins.

Amid the prevailing market volatility and low-risk appetite among investors, the number of Bitcoin ATMs have also gone down globally. Nearly 800 ATMs were pulled out of the global crypto network in September alone.

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Bitcoin Claws Back to $19,300 While Ether Begins Week Post ‘Merge’ on a High

Bitcoin and the rest of the crypto market saw a bit of a bounce in prices on Tuesday as riskier asset classes were back in flavour ahead of the US Federal Reserve’s monetary policy meeting later in the day. As things stand, the value of Bitcoin has witnessed a rise of 2.85 percent in the last 24 hours with its price now around the $19,300 (roughly Rs. 15.38 lakh) mark across global exchanges while Indian exchanges like CoinSwitch and CoinDCX value BTC at $21,084 (roughly Rs. 16.8 lakh), 0.82 percent higher than that on Monday morning.

On global exchanges like CoinMarketCap, Coinbase, and Binance the price of Bitcoin stands at $19,353 (roughly Rs. 15.42 lakh) while CoinGecko data shows that BTC’s value now sit 13.5 percent lower than where it stood last Tuesday.

Ether has also seen a rise through early Tuesday after being on a spiral since the ‘Merge’. Ether is currently up by close to 4 percent over the past 24 hours, trading in the $1,350 (roughly Rs. 1.07 lakh) range across global exchanges. Meanwhile on Indian exchanges, ETH is valued at $1,493 (roughly Rs. 1.19 lakh) where values are up by 3.18 percent over the past day.

Gadgets 360’s cryptocurrency price tracker reveals that most major altcoins had a similar upside over the past day. The global crypto market capitalisation also witnessed a rise of 2.56 percent through late Monday and early Tuesday.

Cosmos, Solana, Cardano, Polygon, TRON, Uniswap, Monero, Avalanche, Chainlink, and BNB all saw heavy gains over the last 24 hours.

Memecoins Shiba Inu and Dogecoin picked up their prices too. Dogecoin is currently valued at $0.05 (roughly Rs. 4.65) after adding 2.44 percent in value over the last 24 hours, while, Shiba Inu is valued at $0.000011 (roughly Rs. 0.000868), up 1.33 percent over the past day.

“Bitcoin breached a major psychological support of $20,000 (roughly Rs. 15.97 lakh) as it tipped towards its 3 month low while there was a 60 percent increase in trading volume due to increased volatility amidst a negative macroeconomic backdrop,” the research team at CoinDCX tells Gadgets 360.

“The week started with tumbling in crypto markets due to two broad reasons, the first being the upcoming FOMC meeting this Wednesday where a 100 bps is still on the table with a higher probability of a 75 bps rate hike. Secondly, as the Bitcoin network difficulty reaches an all-time high (32.045t), higher computational power is required to mine Bitcoin which affects the profitability of the miners and creates selling pressure. Amid the bearish price action, 1,26,682 traders representing $417 million (roughly Rs. 3,323 crore) were liquidated in the last 24 hours.”

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Crypto Chart Drenched in Red Ahead of Ethereum’s ‘Merge’ Upgrade

The overall crypto market slipped down ahead of the arrival of Ethereum’s energy-efficient upgrade called the Merge which is expected to arrive today. Bitcoin on Thursday, September 15, opened with a loss of 1.65 percent as per Gadgets 360’s crypto price tracker. The current trading value of BTC stands at $20,030 (roughly Rs. 16 lakh). On global exchanges, such as Binance and CoinMarketCap as well, BTC slipped by around 1.65 percent to trade at a similar $20,000 (roughly Rs. 16 lakh) price point. It is being touted that with the eco-friendly Merge revamp, the Ethereum blockchain could soon pose a threat to Bitcoin’s monarchy over the crypto sector.

Ether saw smaller losses than Bitcoin and slipped price-wise by 0.15 percent. As per the price tracker by Gadgets 360, ETH is currently trading at $1,597 (roughly Rs. 1.26 lakh).

From stablecoins to memecoins, all kinds of altcoins tumbled down the price charts today. Most recorded only miniscule losses.

These altcoins include Tether, USD Coin, Binance Coin, Binance USD, Ripple, Cardano, and Solana among others.

Impressively, only a few altcoins seemed unaffected by the Merge chaos, and ended up reeling in small gains.

Monero, LEO, Zcash, Underdog, Gas, and WETH emerged as profit-makers on a rough market day.

Along with the Merge arrival, there are other factors also that are contributing to the market movement.

“A more aggressive path of interest rate hikes is likely underway to combat the narrative of increasingly entrenched inflation with broad expectations that a 75-100 basis point interest hike is the most likely result on 21 September 21 from the next FOMC meeting as inflation continues to broaden out rather than cool as expected; notably from the acceleration in services and living costs-based inflation,” the research team at CoinDCX told Gadgets 360.

The overall crypto market has dropped down by 0.82 percent, data by CoinMarketCap showed.

The market valuation of the crypto sector stands at $985.93 billion (roughly Rs. 78,33,849 crore).

“This hawkish sentiment led to both TradFi markets and crypto plummeting with the Nasdaq falling by more than 5 percent on the day while Bitcoin attempts to hold $20,000 (roughly Rs. 16 lakh) as psychological support after falling over 10 percent since the announcement. The overall crypto market cap fell by over 7 percent as it looks poised to retest the trillion-dollar region,” the CoinDCX research team added.

Meanwhile, social media is abuzz with the historic Merge launch.

After Bitcoin’s whitepaper release, Ethereum’s merge is the most consequential event in crypto’s history.

It happens in less than 24 hrs.

I feel awe and gratitude toward the beautiful minds that enabled both of these events :sunrise_over_mountains:

— Erik Voorhees (@ErikVoorhees) September 14, 2022

The Etheruem blockchain will transition from its energy-consuming proof-of-work mining model to the proof-of-stake model that will slash Ethereum’s power requirements by 99.95 percent.

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Bitcoin Hovers Below $20,000 While Ether Continues to Add to Its Price Before the Merge

Bitcoin, the world’s largest cryptocurrency by market capitalisation, led other crypto assets in go-slow mode after losing over 4 percent in value over the weekend. However, things have begun looking better to begin the week already. The value of Bitcoin has witnessed a minor climb over the last day by 0.65 percent with its price continuing to hover below the $20,000 (roughly Rs. 15.97 lakh) mark across global exchanges while Indian exchange CoinSwitch Kuber values BTC at $19,873 (roughly Rs. 15.97 lakh), 0.65 percent higher than yesterday.

On global exchanges like CoinMarketCap, Coinbase, and Binance the price of Bitcoin stands at $19,875 (roughly Rs. 15.87 lakh) while CoinGecko data shows that BTC’s value is currently 1.1 percent higher than where it stood last Monday.

Heading into the week of the much-awaited ‘Merge’, Ether on the other hand has continued to climb in value, managing to add more to its price over the weekend. As things stand, Ether is valued at $1,576 (roughly Rs. 1.25 lakh) on CoinSwitch Kuber while values on global exchanges also see the crypto’s value at $1,576 (roughly Rs. 1.25 lakh), where the cryptocurrency’s value has gained 1.7 percent over the past 24 hours.

Ether’s showing over the latter stages of last week sees the cryptocurrency’s value again move a lot higher than where it was last week, CoinGecko data suggests that the world’s second-largest crypto asset has moved up 9.5 percent in value week-on-week.

Gadgets 360’s cryptocurrency price tracker reveals that most major altcoins had a day of minor gains over the past 24 hours. The global crypto market capitalisation also witnessed a substantial 0.81 percent increase through late Sunday and early Monday.

Polkadot, Uniswap, Cosmos, Solana, Monero, Cosmos, Avalanche, Cardano, Polygon, TRON, and BNB all saw minor gains in the last 24 hours.

Memecoins Shiba Inu and Dogecoin also followed most altcoins with minor ups in value. Dogecoin is currently valued at $0.06 (roughly Rs. 5.3) after gaining 0.85 percent in value over the last 24 hours, while, Shiba Inu is valued at $0.000013 (roughly Rs. 0.001018), up 3.76 percent over the past day.

“The global crypto market has been on a bearish trend as sellers have become more active since the past week. Bitcoin has been struggling to cross above the $20,000 (roughly Rs. 15.97 lakh) level. BTC is currently nearly 71 percent down from its all-time high. If BTC can trade above the overhead resistance level, bulls might attempt to recapture the $20,000 price level soon. But if BTC keeps facing continued rejections, it might dip to the $18,000 (roughly Rs. 14.37 lakh) support level,” explains Edul Patel, CEO and co-founder of crypto investment firm Mudrex speaking to Gadgets 360.

“The second largest cryptocurrency, Ethereum, is also struggling near the $1,600 (roughly Rs. 1.27 lakh) resistance level. A bearish trend at the $1,400 (roughly Rs. 1.11 lakh) zone can result in a price drop of ETH to the next support level at $1,260 (roughly Rs. 1 lakh). Overall, a bearish trend persists in the crypto market, and we might see a correction in the coming weeks,” Patel adds.

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BTC, ETH Open With Losses, Crypto Market Cap Slips Below Trillion Dollar Mark

The month of August elevated the base prices of several cryptocurrencies, however, majority cryptocurrencies saw losses as the month inches closer to its end. Bitcoin on Monday, August 29, opened with a minor price loss of 0.74 percent. As per Indian exchange CoinSwitch Kuber, BTC is currently trading at $19,808 (roughly Rs. 15.80 lakh). On international exchanges as well, BTC failed to see any profits. As per CoinMarketCap and Binance, BTC prices are hovering around the similar mark of $19,830 (roughly Rs. 15.80 lakh).

Ether conventionally trailed behind BTC to see losses. As per Gadgets 360’s crypto price tracker, ETH is presently priced at $1,450 (roughly Rs. 1.16 lakh) after incurring a loss of 2.70 percent.

Tether, Ripple, Cardano, Solana, Polkadot, and Polygon saw losses.

Even Dogecoin and Shiba Inu failed to garner gains amid the prevailing market volatility.

“After the Fed announcement to increase the interest rates, Bitcoin, Ethereum, and most cryptocurrencies were unable to resume gains. Investors are keenly looking for improvement in the market, but there has not been little change. If BTC’s price closes below the $19,500 (roughly Rs. 15.60 lakh) level today, we could see it going even lower,” Edul Patel, CEO and co-founder of crypto investment platform Mudrex told Gadgets 360.

Among a handful of gainers, Binance Coin, Binance USD, Litecoin, Monero, and Bitcoin Cash marked their names.

“Overall, the underlying sentiment suggests a downward trend in the coming week,” Patel noted.

As per CoinMarketCap, the overall market cap of the crypto sector has slipped below the trillion-dollar mark.

Currently, the valuation of the crypto industry stands at $954.11 billion (roughly Rs. 76,35,042 crore), with a 1.29 percent decrease over the last day.

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Bitcoin’s Retraces to $21,000 After Friday’s Deep Price Plunge Shakes Up Market

Cryptocurrencies exhaled over the weekend after Friday’s steep price plunge as investors continued to chew over the latest inflation data and ongoing macroeconomic uncertainty. The value of Bitcoin has witnessed a 1.25 percent rise in the last 24 hours with its price now right below the $21,500 (roughly Rs. 17.17 lakh) mark across global exchanges while Indian exchange CoinSwitch Kuber values BTC at $21,465 (roughly Rs. 17.14 lakh), 1.21 percent higher in the past 24 hours. On global exchanges like CoinMarketCap, Coinbase, and Binance the price of Bitcoin stands at $21,489 (roughly Rs. 17.16 lakh).

Meanwhile, CoinGecko data shows that BTC’s value is currently 11.7 percent lower than where it was last Monday. Ether shared a similar plight, losing out a fair bit of value through Friday and Saturday before turning the scales to green again. At the time of publishing, Ether is valued at $1,603 (roughly Rs. 1.28 lakh) on CoinSwitch Kuber. In contrast, values on global exchanges see the crypto’s value at $1,607 (roughly Rs. 1.28 lakh), where the cryptocurrency’s value has moved up by 1.56 percent over the past 24 hours.

Ether’s showing over the week so far sees the cryptocurrency’s value turn red by close to 17 percent compared to its value last Monday, as per CoinGecko data.

Gadgets 360’s cryptocurrency price tracker reveals that most major altcoins had a positive showing through Sunday with all of the better-known altcoins marking gains. The global crypto market capitalisation also witnessed a 1.35 percent rise through Sunday and early Monday.

Polygon, Polkadot, Uniswap, Cosmos, Solana, Monero, Cardano, Cosmos, Avalanche, and BNB all saw a rise in value in the last 24 hours.

Memecoins Shiba Inu and Dogecoin also followed the altcoin mix with dips to show for the day although DOGE’s gains have since dwindled to switch to red. Dogecoin is currently valued at $0.06 (roughly Rs. 5.47) after losing some 0.36 percent in value over the last 24 hours, while, Shiba Inu is valued at $0.000013 (roughly Rs. 0.001065), up 2.76 percent over the past day.

“The global crypto market experienced a roller coaster ride in the past week. Bitcoin tried to break above the $25,000 (roughly Rs. 19.96 lakh) level for the first time in two months but could not succeed in retaining the gains. The drivers of the recent rise could be the global energy crisis which pushed the prices up in Europe, the US, and other countries, the upcoming Federal Reserve meeting, and the most awaited Ethereum merge,” explains Edul Patel, CEO and co-founder of crypto investment firm Mudrex speaking to Gadgets 360.

The second largest cryptocurrency, Ethereum, could not hold above the US$2,000 (roughly Rs. 1.59 lakh) level for a long time and started a downside correction. BTC and ETH are down by 13 percent and 18 percent over the past seven days. Despite the decline, both the cryptocurrencies remained above their crucial support levels at $20,000 (roughly Rs. 15.97 lakh) and $1,500 (roughly Rs. 1.19 lakh). If bulls can push BTC above the current level today, we may soon see a bounce back to $22,000 (roughly Rs. 17.57 lakh). However, ETH is trading above the $1,600 (roughly Rs. 1.27 lakh) level, signalling that buyers are not ready to give up. So, we might see a correction between the $1,650 – 1,700 (roughly Rs. 1.31 – 1.35 lakh) zone in the coming few days,” Patel added.

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BTC Grows, ETH Dips as Crypto Price Chart Reflects Mix of Greens and Reds

The cryptocurrency market is undergoing volatility in the backdrop of back-to-back hack attacks hitting the sector. Bitcoin on Tuesday, August 9, grew by 2.87 percent. As per Indian exchange CoinSwitch Kuber, BTC is currently trading at around $25,080 (roughly Rs. 20 lakh). The oldest cryptocurrency also saw minor hikes on international exchanges. As per Binance and Coinbase, BTC rates have spiked by around 2.50 percent to trade at about $23,861 (roughly Rs. 19 lakh).

Ether moved unconventionally and failed to grab gains following BTC’s price movement. With a loss of 3.40 percent, ETH prices are currently circling the mark of $1,722 (roughly Rs. 1.35 lakh).

On the crypto price charts, nearly equal number of altcoins followed BTC and ETH to reflect gains and losses respectively.

Tether, Ripple, Cardano, Solana, and Polkadot joined BTC and reeled-in gains.

USD Coin, Binance Coin, Binance USD, Dogecoin, and Avalanche saw losses alongside Ether.

The global crypto market cap currently stands at $1.13 trillion (roughly Rs. 89,53,272 crore), with a 1.96 percent overall increase from the last day, as per CoinMarketCap.

Meanwhile, Nischal Shetty, the co-founder of WazirX crypto exchange has taken to Twitter to promote the use of blockchain networks in order to maintain transparency in businesses.

Companies should be mandated to make all deal documents public

They should be made to put the deal details on a public blockchain

This will ensure truth is never hidden from the people :muscle:#Decentralize #Blockchain #Shardeum

— Nischal (Shardeum) :zap:️ (@NischalShetty) August 8, 2022

In light of recent news about WazirX, we wanted to assure you that operations are being conducted as usual.

Crypto and INR withdrawals are being processed normally.

We wish to continue to serve you :pray:

— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) August 7, 2022

Shetty’s comments come in the backdrop of WazirX’s ongoing feud with Binance. Changpeng Zhao, the CEO of Binance has recently claimed that the acquistion of WazirX, that was announced in November 2019, did not reach a point of completion.

In light of recent news about WazirX, we wanted to assure you that operations are being conducted as usual.

Crypto and INR withdrawals are being processed normally.

We wish to continue to serve you :pray:

— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) August 7, 2022

Zhao is seemingly trying to disassociate Binance’s branding from WazirX now that the Indian exchange is facing investigation in India over alleged money laundering charges.

Meanwhile, scammers continue to riddle the cryptosphere and it has been pointed yet again out, this time by Hong Kong publications.

The nation that recently topped the list of the world’s most crypto-ready nations has observed an alarming 105 percent hike in crypto scams. In the first six months of this year alone, the crypto community of Hong Kong has collectively lost $50 million (roughly Rs. 400 crore) to cons.

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