Is trading in US market legal in India? - cyptoranking.com

2024-04-26

Popular crypto exchanges(2023 Update) 2024-04-26
Image: cyptoranking.com

What is Fluid? A Busy Week Ahead Is trading in US market legal in India?The community has been attentive to the developments in the Coinbase’s Base Network. The Layer 2 solution has ambitions of onboarding the next billion users to the Web3 ecosystem. Known for its privacy, Zcash utilized zk-SNARK in its system. Zcash, a privacy coin, is one of the earliest crypto assets that provided enhanced privacy for its users, assuring confidentiality in financial transactions.

Exchange Rankings Crypto
Image: cyptoranking.com

The main reason for this is that the BNT price broke out from a 940-day descending resistance trendline last week. Breakouts from such long-term trendlines often lead to significant increases. The breakout took BNT inside the $0.60 resistance area. UOS Token’s Features: Dogecoin Starts Trading On Major Philippines Crypto Exchange-A Boost For DOGE Price?Recently, XRP derivatives volume massively increased by 180%, while the exchanged volume doubled up in 24 hours, showing a growing interest by crypto traders in Ripple’s flagship product. “I'm sure that we as a country, we as a people and we as a company will be able to get back on our feet and get back to normal,” Samocha said. “Crypto is here to stay, blockchain is here to stay and we will need education, we will need content and we will be here to provide it.”

On October 8, Bitcoin registered its lowest number of new addresses in four months. Recent macro events surrounding the Middle East tensions could appear to be one driver behind this decline in new users adopting Bitcoin. An American cryptographer and programmer, Nick Szabo, was the genius who first proposed the idea of smart contracts back in 1994. Some blockchain community members believe Szabo to be the real identity of Bitcoin’s anonymous inventor, Satoshi Nakamoto. However, Szabo denied these rumors. How to Buy Bitcoin Anonymously in 2023On Oct. 2, the price of Bitcoin (BTC) saw a 5.5% intraday increase to $28,600, but the largest cryptocurrency by market capitalization lost momentum as the highly anticipated launch of Ether (ETH) futures exchange-traded funds (ETFs) failed to generate significant trading volumes. While the recent rally into the upper end of the current price range was likely encouraging to investors, recent comments from United States Federal Reserve representatives reiterated concerns about an impending economic downturn.Bitcoin demonstrated short-term strength by maintaining support at $27,200 on Oct. 3 and subsequently surged above $27,500 on Oct. 5. Nevertheless, three key trading metrics indicate a lackluster level of support. These metrics encompass spot market volumes, derivatives and confidence in the approval of a spot Bitcoin ETF.Macroeconomic forces exert downward pressure on Bitcoin priceOn Oct. 2, U.S. Federal Reserve Vice Chair for Supervision Michael Barr stated in New York that he anticipates a slowdown in economic growth “below its potential” due to higher interest rates constraining economic activity. He also noted that the full impact of the current monetary policy has yet to be realized. According to the CME FedWatch tool, the market is currently evenly divided on the possibility of another interest rate hike by the Fed in 2023.On Oct. 3, the real yield on U.S. 10-year Treasurys, a measure that adjusts for inflation, reached 2.47% — its highest level in nearly 15 years — according to data from the U.S. Treasury Department. This development partly explains the U.S. Dollar Index (DXY) reaching its highest point in 10 months.Additionally, Reuters reported that the U.S. has become a relatively more appealing investment destination due to its “resilient economy,” boasting stronger growth prospects when compared with Europe and China.Bitcoin trading metrics show diminished activity for leverage longsBitcoin monthly futures typically trade at a slight premium to spot markets, indicating that sellers are asking for more money to delay settlement. As a result, BTC futures contracts should typically trade at a 5%–10% annualized premium — a situation known as contango, which is not unique to crypto markets.Bitcoin 2-month futures annualized premium. Source: Laevitas The BTC futures premium continues to trade below the 5% neutral threshold, remaining in the neutral-to-bearish range. This indicates a lack of demand for leveraged long positions.Additionally, spot trading activity on traditional exchanges has declined to levels not seen since late 2020, signifying reduced participation by institutional investors.Bitcoin daily spot trading volume, USD. Source: Messari and Kaiko It’s worth noting that the decrease in trading volumes may be attributed to major U.S.-based trading firms, such as Jane Street Group and Jump Trading, distancing themselves from the cryptocurrency markets ahead of May 2023. Bloomberg reported that the primary reason for this shift was “heightened regulatory scrutiny,” which rendered the market less appealing to institutional investors.Related: Bitcoin price drops its early week gains — Here is whyInvestors’ expectation for a spot BTC ETF drops One of the factors supporting Bitcoin’s 68% gains in 2023 is the anticipation of approval for a spot Bitcoin ETF by the U.S. Securities and Exchange Commission. However, despite the regulator’s multiple postponements, the recent launch of Ether futures-based ETFs on Oct. 2 saw lackluster demand.Furthermore, despite a favorable court ruling for the conversion of the Grayscale Bitcoin Trust into a spot Bitcoin ETF, it continues to trade at a 19% discount compared with its Bitcoin holdings. This data indicates a lack of confidence in the approval of a spot Bitcoin ETF, as investors would have the option to redeem their shares at par value following the conversion.Ultimately, Bitcoin was unable to surpass the $28,500 resistance level, and Federal Reserve representatives warned of impending economic pressures. Consequently, the prospects of breaking above this resistance in the short term appear less than favorable.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. According to the prominent blockchain security tracker PeckShieldAlert, the scammers have already transferred the stolen funds from Base, a Layer-2 scaling solution, to Ethereum via Orbiter, a cross-chain bridge. After all the movements, the scammers have deposited some of the stolen funds to the Binance exchange to cash them out.

Stripe, an online payment firm announced that it would discontinue its support for Bitcoin payments due to declining demand, high fees, and longer transaction times.Also, South Korea introduced regulations for Bitcoin traders to reveal their identity. This was to ban the anonymous trading of the coin. However, according to Dune Analytics data, the revenue has been sent to an external account (EOA) so far, and no expenses have been recorded from this account. While Friend. tech has been increasingly adopted since its launch in August, it has not attracted new users yet. How to buy Tether (USDT) GuideSHIB Price Prediction: Further Retracement Toward $0.000005 Inability to store large files: A direct consequence of blockchain hosting’s limited storage capabilities is that the service may face challenges storing massive files and multimedia content, such as high-quality photos, videos, and sound files. Therefore, it may prove ineffective for content-rich websites and applications.

Have an opinion on this story? Share it!