Crypto India Profile picture
Oct 10 11 tweets 5 min read
1/ We are back with another weekly thread. Here is a recap of what happened in the #crypto world 🌎 this past week. Image
2/ #CFTC targets unregistered future exchanges, charges Digitex for running an unregistered futures exchange & manipulating the price of its $DGTX token. Image
3/ Kim Kardashian settled #SEC charges for unlawfully promoting Ethereum Max & paid $1.26 million as fee. Image
4/ UN warned Fed that further rate hikes may cause a global economic downturn 📉

Morgan Stanley said a pivot at this time will lead to a sharp rally in Equities in short term followed by another crash. Image
5/ Turkey #inflation came to be at 83.45%

Here's a comparative look at inflation across the world🌏 Image
6/ Elon Musk made a new offer to buy Twitter at his original price of $54.20 per share 💵

Elon Musk also tweeted his intentions to create X, the everything app. Image
7/ $39.66m worth of crypto assets belonging to Do-Kwon frozen 🥶

Yoo mo, Head of General Affairs, Terra arrested for manipulating token price. Image
8/ Solana the "Ethereum killer" suffered from another outage recently where the entire network went down for almost 3 hours ❗️ Image
9/ Binance chain exploited for 2 million $BNB. Over $100 million bridged to other chains.

This resulted in the blockchain being halted to stop the hacker from moving the funds 🛑 Image
10/ RBI released a concept note to create awareness about #CBDC & Digital Rupee e₹

Concept note also deals with the objectives, choices, benefits, and risks of issuing a CBDC in India 🇮🇳 Image
11/ Here's a detailed video 📹 on the same to help the community👥👇

Also if you enjoy these weekly update thread, don't forget to like and retweet.

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More from @CryptooIndia

Jul 5
A thread 🧵on what is happening with Vauld exchange :

1/ Yet another crypto lending platform Vauld has halted withdrawals, deposits & trading on its platform ❌. Let us try to take a deeper look into what is happening with this exchange 👍
2/ Vauld was incorporated in 2018 & is a platform which encourages long-term investing by offering SIP options, interest on crypto holdings upto 12.68%, etc to it's users 💰 It has over 275 coins listed on its platform 👌
3/ In July 2021, Vauld received a 💲25 million Series A funding from Valar Ventures, Pantera Capital, Coinbase Ventures, etc ❗️
Read 12 tweets
Jul 4
Weekly update thread :

Bear markets 🥶are the best time to focus on gaining more knowledge in the crypto space 💯 To help the community 👥, we make weekly updates, covering major news & events happening in the cryptoverse ✅
1/ Institutions continue to buy the dip❗️

-El Salvador 🇸🇻 purchased 80 more bitcoins for $1.5 million at an average price of $19,000 per BTC😅

-Microstrategy purchased an additional 480 bitcoin worth approx $10 million at an average price of $20,817 each🔥
2/ Spot ETF Updates 🔝

- Jacobi Asset Management has announced it will launch a European spot bitcoin ETF this July in Amsterdam 👌

-In USA 🇺🇲, Grayscale is suing the SEC after its a proposal for spot ETF for rejected by them, citing concerns of market manipulation🤥
Read 11 tweets
Jul 3
1/ Ever since new crypto tax rules📜 became applicable, trade volume on Indian🇮🇳 exchanges continues to tumble 🔻

Wazirx - $195M➡️$4.5M - 98% 🔻
Coindcx - $32M➡️$2.1M - 93% 🔻
Zebpay - $19M➡️$1.1M - 94% 🔻
Bitbns - $24M➡️$19.8M - 17% 🔻 (Somehow not affected that much) ImageImageImageImage
2/ Add to this the ongoing crypto winter 🥶 & users' loss of interest in crypto in general & it won't be different to understand why exchanges are having a tough time generating revenues like before 🙈 Image
3/ The following are a few ways in which volumes can be revived on Indian exchanges :

1. Enable futures trading for crypto ✅

- 1% TDS is not deductible on Futures trading. Allowing users to trade futures contracts could attract users back to the platform again & revive volumes Image
Read 9 tweets
Jul 2
What is #Bitcoin Dominance :

Bitcoin dominance measures the performance of #Bitcoin relative to all other assets in the crypto market.

It shows us how much percentage of the total money in the crypto market is invested in BTC at any given point in time. (1/5) Image
When bitcoin dominance goes ⬆️, it means that people are investing more in bitcoin as compared to alts. This means either of the 2 :

1. BTC is going up faster than alts.
2. BTC is going down slower than alts. (2/5)
When bitcoin dominance goes ⬇️, it means people are removing money from bitcoin and investing more in alts instead. This means either of the 2 :

1. Alts are going up faster than BTC.
2. Alts are going down slower than BTC. (3/5)
Read 5 tweets
Jul 1
Inflation is soaring high all across the globe 🌎, leading to constant interest rate hikes & market crashes.🔻 In this thread we explain everything about inflation & how it impacts our economy❗️
1/1 What is inflation?

A steady & sustainable increase in the prices of all goods & services in the economy is called inflation 💹

For example, a samosa 🤤 that cost Rs 5 in 2015 would cost Rs 15 in 2022.
2/2 Inflation is caused mainly by an imbalance⚖️ between demand & supply. The supply of any product or service is finite, while demand (greed) is infinite 😬
Read 11 tweets

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