Crypto Financial News

metaverse" investing has been running on its own timeline. Metaverse-related assets such as currencies which can be used in virtual worlds, and NFTs representing virtual land, took only a small hit as risk appetite dropped in January, while the broader market for digital goods has seen volumes surge. Facebook changing its name to Meta Platforms Inc proved a bigger driver of investment in the metaverse than broader financial market conditions.

gold stablecoins, are the latest fad among crypto investors given their recent outperformance. Popular crypto tokens in this class are PAX Gold (PAXG) and Tether Gold (XAUT) and are part of the top 300 cryptocurrencies by market capitalization (m-cap). The m-cap of both these tokens has jumped exponentially over the last one year, with the former outperforming the latter. According to some experts, recent tension between Russia and Ukraine, which has increased the bullion's appeal, has also boosted the demand for such tokens.

JPMorgan Chase said on Tuesday. The largely unregulated $2.7 trillion cryptoasset sector, which includes bitcoin, is still relatively small, but there are currently no bespoke rules on how much capital banks should set aside to cover activities in the sector. This leaves international banks in limbo and regulators behind the curve.

Crypto trading platform, CoinDCX, has selected crypto-native risk monitoring firm Solidus Labs as a strategic compliance partner. CoinDCX claims to be India’s first crypto unicorn and the nation’s safest crypto exchange. The deal will improve the transparency on the trading platform. The partnership between CoinDCX and Solidus aims to protect its users from known forms of market abuse and a plethora of emerging crypto-specific risks, the company said.

Nandan Nilekani on Tuesday clarified that he has not launched any project related to cryptocurrency.

Cryptocurrencies, like stocks, can be bought instantly using an app. But there are major differences between the two assets in the investment process. When you click to buy stocks, the broking company, where you have opened a demat account, places an order on your behalf on the BSE or the NSE. The exchanges then find a match and relay transaction details to the depositories — CDSL or NSDL. These depositories process the actual transfer of shares to your demat account in two business days. Once you tap to buy crypto, the exchange, where you have an account, will find a match for you in the market, take delivery of the asset from the seller and then store it on your behalf. To invest in virtual currencies, you need to open an account with a crypto exchange, provide KYC details and load rupees in the platform’s bank account to trade on the bourse using that balance. Cashing out is also an instant process. Presented ByDid you Know?A statue honour

Sitharaman on Monday said discussions with regard to private cryptocurrencies and central bank-backed digital currency have been going on with the Reserve Bank and a decision will be taken after due deliberations. Sitharaman, in her Budget speech on February 1, had announced that Digital Rupee or Central Bank Digital Currency (CBDC) would be issued by the RBI in the coming fiscal year. She had also announced the government will levy 30 per cent tax on gains made from any other private digital assets from April 1. «On crypto, I have said that we are in the process of consultation. Whatever decision the government is going to take, will be after the consultation,» she said.

Disclaimer: The following article is part of Cryptonews Deals Series and was written as a promotional article in collaboration with the sponsor of this offer. If your company has an exclusive promotion that you would like to share with our readers, we invite you to reach out to us. Let’s build together.

Bitcoin did not have a strong start to 2022 as it remained under pressure in the new year. However, the recent token moved sharply in the last 10 days, before losing steam once again. After hitting the $45,000 mark, Bitcoin has seen sharp selling pressure and is heading towards its crucial support levels, technical charts suggest. Breaking these levels, the crypto behemoth is likely to fall to $35,000 levels, experts said. Investors are bracing for more gyrations in the numero uno crypto asset, as global worries threaten to squelch risk appetite across markets. The volatility, traditionally associated with cryptocurrencies, has been on full display in recent weeks.

Bitcoin’s price has meandered the last few days, the largest cryptocurrency by market value has staged a modest under-the-radar recovery from its wintertime swoon. Bitcoin is on pace to post its third consecutive weekly increase, climbing almost 19% during the stretch, to trade around $43,500 as of 1:06 p.m. in New York. It dropped below $33,000 on Jan. 24, a decline of more than 50% from its all-time high of almost $69,000 reached in early November. The crypto market has been rattled as of late by growing expectations that central banks, led by the Federal Reserve, are poised to pull back on the pandemic-era stimulus that many observers credit for fueling the surge in risk assets over the past few years.

crypto, players in India and across the globe are high on hopes over the new-age asset class. They are expecting that two major nations — India and Russia — have stepped ahead for the legitimisation of the crypto assets, and more major economies may join the forces soon. However, India has made it clear that the legitimate or illegitimate are separate questions and the government is simply taxing the gains from the crypto transactions, which is its sovereign right.

Giottus Cryptocurrency Exchange has announced the launch of two smart investment features for the benefit of all crypto investors and enthusiasts. Among the two new features, first is crypto baskets, an expert-curated thematic investment feature, which augments an investor’s portfolio in the long run, curated by experts and research analysts, the company said. Themes such as DeFi, Metaverse, gaming, and meme coins are already popular among Indian investors, it said, adding that Baskets are specifically designed to meet this demand.

crypto community, in reaction to central bank governor Shaktikanta Das' statement that private cryptocurrencies are a big threat to India's financial and macroeconomic stability, has said crypto assets could help unlock the country's innovation, job-creation and economic potential. Also, the exchanges said they praised the stance of the central bank and the government that customer protection is a priority. «The good thing is that the government and regulators have been very consultative in their approach to the industry, and there is broad understanding that customer protection is of utmost importance. It is encouraging to see India thinking progressively about crypto at par with global counterparts like the US, Dubai, and Singapore,» said Ashish Singhal, founder and CEO, CoinSwitch.

crypto assets have risen from their ashes to deliver handsome returns to those who kept faith in the digital space. One such example is GALA, a metaverse play, which has more than doubled investors' wealth in just one week. However, the token has remained volatile after doubling investors' wealth. It jumped to $0.3718 on Thursday from $0.1799 a week ago, the data from Coinmarketcap suggest. There are a total 6.98 billion GALA tokens in circulating supply, it added.

crypto assets or virtual digital currencies are a major threat to macroeconomic and financial stability of a country, Reserve Bank of India (RBI) governor Shaktikanta Das said at press conference held on Thursday. I have said that investors are their own judge. But, it is my duty today to tell investors that while betting on cryptos, they should be mindful that they are investing at their own risk. “Cryptocurrencies have no underlying (value), not even a tulip,” Das said at the meeting.

Disclaimer: The following article is part of Cryptonews Deals Series and was written as a promotional article in collaboration with the sponsor of this offer. If your company has an exclusive promotion that you would like to share with our readers, we invite you to reach out to us. Let’s build together.

Regulators came late to the fast evolving cross-border world of cryptoassets but they could come up with their first global framework of rules within months, a senior official said on Wednesday. The Financial Stability Board, which groups regulators, central banks and finance ministry officials from the G20 economies, is looking at what needs to be done with cryptoassets such as bitcoin and stablecoins.Crypto assets are currently treated differently across the world, ranging from bans to no rules at all even though they are traded by international firms. The European Union is approving a comprehensive set of standards for authorising and supervising participants in crypto asset markets.

By Pratik Gauri, CEO & Founder, 5ire The Indian business ecosystem pinned its hopes on the Union Budget after thousands of small and medium enterprises were severely affected by the ongoing pandemic, especially the devastating second wave and the (diminishing) third wave. Among those who were hopeful were crypto investors and enthusiasts, who feared significant losses due to the uncertainty regarding the stance the Indian government was likely to take on recognising and regulating cryptos. On February 1, those hopes for recognition weren’t dashed as Finance Minister Nirmala Sitharaman announced that digital assets would be doubly taxed in terms of gains as well at the source.

Disclaimer: The text below is an advertorial article that was not written by Cryptonews.com journalists.

XRP has been high in demand among investors, thanks to the possible outcome over its lawsuit against US Securities and Exchange Commission (US SEC). The altcoin has zoomed about 25 per cent in the last 24 hours, with its volume jumping 160 per cent as the tokens worth $5.52 billion exchanged hands during the period under review, the data from Coinmarketcap suggests. The token has jumped more than 60 per cent in the last one month to hit a high of $0.9111 on Tuesday. The token is still trading about 50 per cent of its one year's peak of $1.83 scaled in April 2021.

Bitcoin rose to a four-week high on Monday, climbing for a second consecutive session, driven in part by liquidation of some short positions that have accumulated in the virtual currency's recent three-month downtrend. The world's largest cryptocurrency hit $44,524.18, the highest since mid-January. It was last up 3.8% at $44,024. Since hitting a roughly six-month low on Jan. 24, bitcoin has gained about 35%.Ether, the second-largest digital currency in terms of market capitalization, touched a three-week peak of $3,180 and was last up 3.1% at $3,153.21. It dropped to a six-month trough in late January, but since then, ether, the token used for the Ethereum blockchain, has surged about 47%.