Archive for the ‘Cryptocurrency’ Category

Cryptocurrency Bitcoin Cash Up More Than 10% In 24 hours – Benzinga

May 9, 2023 3:00 PM | 1 min read

Bitcoin Cash's (CRYPTO: BCH) price has increased 10.98% over the past 24 hours to $122.2. Over the past week, BCH has experienced an uptick of over 3.0%, moving from $119.09 to its current price. As it stands right now, the coin's all-time high is $3,785.82.

The chart below compares the price movement and volatility for Bitcoin Cash over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

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The trading volume for the coin has climbed 265.0% over the past week, moving opposite, directionally, with the overall circulating supply of the coin, which has decreased 0.2%. This brings the circulating supply to 19.39 million, which makes up an estimated 92.32% of its max supply of 21.00 million. According to our data, the current market cap ranking for BCH is #29 at $2.37 billion.

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2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Cryptocurrency Bitcoin Cash Up More Than 10% In 24 hours - Benzinga

India not against blockchain tech, but cryptocurrency should be monitored, says FM – Yahoo Finance

India is not against blockchain technology, but currencies have to be monitored by either the government or the central bank, Finance Minister Nirmala Sitharaman said on Saturday.

See related article: India imposes money laundering regulations on crypto industry

[Blockchain] gives us so many options. It can be used in so many different ways. So we are not against the technology, Sitharaman said at an event in Bengaluru.

But on currency, we think [it] has to be driven by either the government or the central bank. Otherwise, it can be like those that have collapsed, causing huge spillover effects all over the world, like FTX, she said.

The Reserve Bank of India, the nations central bank, has launched pilot trials for retail and wholesale central bank digital currencies. According to Sitharaman, the digital rupee intends to improve cross-border and bulk payments to minimize losses on arbitrage.

India, the worlds most populous country, is aiming for a global consensus in regulating crypto assets.

Global order has become so interlinked that one country taking any step when it comes to regulating crypto assets will be ineffective because technology doesnt care for boundaries or borders, Sitharaman said.

The South Asian nation is also looking to prepare students on cryptocurrency and artificial intelligence. It has announced the introduction of these topics in certain school curriculums from the next academic year.

India has been tackling digital assets with caution. Last year, Sitharaman imposed a 30% flat tax on crypto income and a 1% tax deducted at source (TDS) on crypto trades above 10,000 Indian rupees (US$122).

India also does not allow crypto traders to offset losses against gains. It has introduced a penalty equal to TDS for non-deduction, interest of 15% annually for late payment, and even imprisonment of up to six months.

India is currently the president of Group of 20, an intergovernmental forum of the worlds major economies, and has listed cryptocurrency and its regulation as one of the agendas for discussion.

See related article: Common regulatory framework for crypto to come during Indias G20 presidency, finance minister says

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India not against blockchain tech, but cryptocurrency should be monitored, says FM - Yahoo Finance

Cryptocurrency Price Today: Bitcoin Remains Below $28,000 As Top Coins See Minor Gains – ABP Live

Bitcoin (BTC), the oldest and most valued crypto in the world, failed to rise above the $28,000 mark early Wednesday. Ethereum (ETH) saw a minor dip and remained within the $1,800 range. Other popular altcoins including the likes of Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) managed to see minor gains across the board. The Bitcoin SV (BSV) token emerged to be the biggest gainer of the lot, with a 24-hour jump of over 38 percent.

The global crypto market cap stood at $1.14 trillion at the time of writing, registering a 24-hour dip of 0.24 percent.

Bitcoin price stood at $27,689.97, registering a 24-hour gain of 0.11 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 24.21 lakh.

ETH price stood at $1,845.23, marking a 24-hour dip of 0.05 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.62 lakh.

DOGE registered a 24-hour jump of 0.92 percent, as per CoinMarketCap data, currently priced at $0.07326. As per WazirX, Dogecoin price in India stood at Rs 6.47.

Litecoin saw a 24-hour gain of 2.13 percent. At the time of writing, it was trading at $79.90. LTC price in India stood at Rs 6,905.04.

XRP price stood at $0.4299, seeing a 24-hour jump of 1.29 percent. As per WazirX, Ripple price stood at Rs 37.71.

Solana price stood at $20.72, marking a 24-hour gain of 0.23 percent. As per WazirX, SOL price in India stood at Rs 1,842.26.

As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:

Bitcoin SV (BSV)

Price: $42.0624-hour loss: 38.04 percent

Terra Classic (LUNC)

Price: $0.0000940624-hour loss: 11.45 percent

Kava (KAVA)

Price: $0.826924-hour loss: 10.74 percent

Pepe (PEPE)

Price: $0.00000205424-hour loss: 9.94 percent

Bitcoin Cash (BCH)

Price: $120.3924-hour loss: 8.71 percent

As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:

Render Token (RNDR)

Price: $1.7024-hour loss: 7.49 percent

Stacks (STX)

Price: $0.67124-hour loss: 6.63 percent

WOO Network (WOO)

Price: $0.219724-hour loss: 5.76 percent

Casper (CSPR)

Price: $0.0500424-hour loss: 5.23 percent

Injective (INJ)

Price: $6.2424-hour loss: 4.77 percent

Mudrex co-founder and CEO Edul Patel told ABP Live, Over the last 24 hours, the price of Bitcoin has remained stable without significant fluctuations. As the blockchain congestion eases, BTC's value began to rebound. At the same time, investors are closely monitoring the Consumer Price Index (CPI) inflation figures scheduled to be released today. Currently, BTC is trading at around $27,600 and encountering resistance near the $28,000 mark. In contrast, Ethereum, the second-largest cryptocurrency, remained steady at around $1,840.

WazirX Vice President Rajagopal Menon said, Bitcoins moving averages continue to indicate a Sell sentiment. More and more TradFi institutions are making deep inroads in Crypto amidst an overall Neutral market sentiment. Countries around the world are introducing Web3 native features and regulations, indicating a move towards a safer ecosystem for the adoption of digital assets.

Shivam Thakral, the CEO of BuyUCoin, said, The crypto market remained stable after the blockchain congesting started to fade away. Bitcoin witnessed a marginal jump in its value while ETH and other altcoins witnessed a similar trend. Inflation concerns and geo-political uncertainty are restricting the market momentum currently but we can expect some respite if macroeconomic conditions improve in the coming weeks. Global investors will be closely watching the CPI data which is slated for today.

CoinDCX Research Team told ABP Live, Bitcoin has been experiencing bearish pressure, and it is struggling to stay above the $27,750 support level. As a result, traders are speculating whether there will be more selloffs in the future, keeping an eye on the upcoming CPI and PPI data this week. Meanwhile, Ethereum has failed to break above the $1,850 resistance level, leaving investors to ponder if there's more downside to come.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.

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Cryptocurrency Price Today: Bitcoin Remains Below $28,000 As Top Coins See Minor Gains - ABP Live

The Growing Interest in Cryptocurrency from Institutional Investors – Finance Magnates

Institutional investors' interest in cryptocurrencies hasgrown over the past few years. Institutional investors are beginning to see thepotential of cryptocurrencies as an asset class, including hedge funds, assetmanagers, and family offices. We'll look at the factors driving institutionalinvestors' increased interest in cryptocurrencies in this article.

The desire to diversify investment portfolios is one of theprimary drivers of institutional investors' increased interest incryptocurrencies. Using cryptocurrency, portfolios can be diversified beyondconventional asset classes like stocks, bonds, and real estate. Thisdiversification can act as an inflation buffer and help to lower overallportfolio risk.

The lack of a link between cryptocurrencies and conventionalasset classes is another factor luring institutional investors. As a result,cryptocurrencies may offer risk-adjusted returns that are higher than those ofconventional asset types.

The growing acceptability and use of cryptocurrencies isanother factor driving institutional investors' increased interest in them.Since their introduction, cryptocurrencies have advanced significantly, andgovernments, regulators, and financial institutions now more frequentlyacknowledge and recognize them.

Keep Reading

For instance, numerous significant financial companies havemade plans to offer cryptocurrency services to their clients recently,including Goldman Sachs, JPMorgan, and Fidelity. Institutional investment incryptocurrencies is significantly fueled by the mainstream financial sector'srising acceptance and use of cryptocurrencies.

The creation of institutional-grade infrastructure forcryptocurrencies is another factor influencing institutional interest incryptocurrencies. To meet the demands of institutional investors,cryptocurrency exchanges, custody services, and other infrastructure providershave developed.

These providers of institutional-grade infrastructure supplyinstitutional investors with crucial services like secure custody, trading, andreporting. Some of the worries that institutional investors had regarding thesecurity and safety of cryptocurrencies have been partially allayed by thisinfrastructure.

Another significant aspect encouraging institutionalinvestment in cryptocurrencies is regulatory clarity. When cryptocurrenciesfirst emerged, there was a lot of ambiguity and confusion about how they would begoverned. Institutional investors found it challenging to invest incryptocurrency due to this unpredictability.

However, there has been a marked improvement in regulatoryclarity regarding cryptocurrencies in recent years. The adoption ofcryptocurrency legislation or guidelines by numerous nations has aided ingiving institutional investors more assurance and clarity.

Because cryptocurrencies present opportunities for activerisk management and due diligence, institutional investors are also drawn tothem. There are many opportunities for active management and research becausecryptocurrencies are a relatively young and dynamic asset class.

Diversification, hedging, and active trading are a fewtechniques institutional investors can employ to control risk in theircryptocurrency holdings. Additionally, they can perform thorough due diligenceon cryptocurrencies, which includes examining the underlying technology, marketdynamics, and regulatory environment.

Cryptocurrency and blockchain technology have been aroundfor over a decade now, but until recently, many people viewed them as nothingmore than a speculative investment. However, over the past few years, numerouscrypto projects have emerged that are focused on solving real-world problemswhich is why there are numerous reasons why institutional investors shouldconsider investing in them.

These projects have the potential to create significantpositive change. As such, institutional investors should consider investing in themnot only for their potential financial returns but also for their potential tomake a difference in the world. By investing in these projects, institutionscan help accelerate the development of these technologies and bring theirbenefits to more people around the world.

One of the main problems that crypto projects are trying tosolve is financial inclusion. In many parts of the world, people do not haveaccess to traditional financial services, such as banking and credit. Cryptoprojects aim to change this by providing a decentralized, accessible, andsecure financial system that anyone with an internet connection can use.

One example of a project focused on financial inclusion isStellar. Stellar is a decentralized payment network that aims to makecross-border transactions faster, cheaper, and more accessible. With Stellar,users can send money to anyone in the world, regardless of their location orfinancial situation.

Another problem that crypto projects are trying to solve issupply chain management. In traditional supply chain systems, it can bedifficult to track products from their origin to their final destination. Thiscan lead to inefficiencies, waste, and even fraud. Crypto projects aim to solvethese problems by creating a transparent and immutable record of every step inthe supply chain.

One example of a project focused on supply chain managementis VeChain. VeChain is a blockchain-based platform that allows businesses totrack their products throughout the entire supply chain. By using VeChain,businesses can ensure that their products are authentic, safe, and ethically sourced.

Identity theft and fraud are major problems in the modernworld. Crypto projects are working to solve these problems by creatingdecentralized identity management systems that are more secure and reliablethan traditional systems.

One example of a project focused on identity management isCivic. Civic is a blockchain-based platform that allows users to create andmanage their digital identities. With Civic, users can control their personalinformation and ensure that it is only used by authorized parties.

The environmental impact of human activity is becoming moreand more of a concern. Crypto projects are working to solve these problems bycreating sustainable energy solutions that are more efficient and less damagingto the environment.

One example of a project focused on environmentalsustainability is Power Ledger. Power Ledger is a blockchain-based platformthat allows users to trade renewable energy. With Power Ledger, users can buyand sell energy from a variety of sources, including solar, wind, and hydro.

An important development for the cryptocurrency industry isthe institutional investors' increased interest in cryptocurrencies.Institutional investors provide substantial resources and knowledge to themarket, which may contribute to an improvement in the market's liquidity andstability.

The need to diversify investment portfolios,cryptocurrencies' rising acceptance and adoption, the creation ofinstitutional-grade infrastructure, regulatory clarity, and the potential foractive risk management and due diligence are some of the factors drivinginstitutional investors' growing interest in cryptocurrencies.

It will be fascinating to watch how institutional investorsinfluence the bitcoin market as it develops and how the market changes to satisfytheir wants.

Institutional investors' interest in cryptocurrencies hasgrown over the past few years. Institutional investors are beginning to see thepotential of cryptocurrencies as an asset class, including hedge funds, assetmanagers, and family offices. We'll look at the factors driving institutionalinvestors' increased interest in cryptocurrencies in this article.

The desire to diversify investment portfolios is one of theprimary drivers of institutional investors' increased interest incryptocurrencies. Using cryptocurrency, portfolios can be diversified beyondconventional asset classes like stocks, bonds, and real estate. Thisdiversification can act as an inflation buffer and help to lower overallportfolio risk.

The lack of a link between cryptocurrencies and conventionalasset classes is another factor luring institutional investors. As a result,cryptocurrencies may offer risk-adjusted returns that are higher than those ofconventional asset types.

The growing acceptability and use of cryptocurrencies isanother factor driving institutional investors' increased interest in them.Since their introduction, cryptocurrencies have advanced significantly, andgovernments, regulators, and financial institutions now more frequentlyacknowledge and recognize them.

Keep Reading

For instance, numerous significant financial companies havemade plans to offer cryptocurrency services to their clients recently,including Goldman Sachs, JPMorgan, and Fidelity. Institutional investment incryptocurrencies is significantly fueled by the mainstream financial sector'srising acceptance and use of cryptocurrencies.

The creation of institutional-grade infrastructure forcryptocurrencies is another factor influencing institutional interest incryptocurrencies. To meet the demands of institutional investors,cryptocurrency exchanges, custody services, and other infrastructure providershave developed.

These providers of institutional-grade infrastructure supplyinstitutional investors with crucial services like secure custody, trading, andreporting. Some of the worries that institutional investors had regarding thesecurity and safety of cryptocurrencies have been partially allayed by thisinfrastructure.

Another significant aspect encouraging institutionalinvestment in cryptocurrencies is regulatory clarity. When cryptocurrenciesfirst emerged, there was a lot of ambiguity and confusion about how they would begoverned. Institutional investors found it challenging to invest incryptocurrency due to this unpredictability.

However, there has been a marked improvement in regulatoryclarity regarding cryptocurrencies in recent years. The adoption ofcryptocurrency legislation or guidelines by numerous nations has aided ingiving institutional investors more assurance and clarity.

Because cryptocurrencies present opportunities for activerisk management and due diligence, institutional investors are also drawn tothem. There are many opportunities for active management and research becausecryptocurrencies are a relatively young and dynamic asset class.

Diversification, hedging, and active trading are a fewtechniques institutional investors can employ to control risk in theircryptocurrency holdings. Additionally, they can perform thorough due diligenceon cryptocurrencies, which includes examining the underlying technology, marketdynamics, and regulatory environment.

Cryptocurrency and blockchain technology have been aroundfor over a decade now, but until recently, many people viewed them as nothingmore than a speculative investment. However, over the past few years, numerouscrypto projects have emerged that are focused on solving real-world problemswhich is why there are numerous reasons why institutional investors shouldconsider investing in them.

These projects have the potential to create significantpositive change. As such, institutional investors should consider investing in themnot only for their potential financial returns but also for their potential tomake a difference in the world. By investing in these projects, institutionscan help accelerate the development of these technologies and bring theirbenefits to more people around the world.

One of the main problems that crypto projects are trying tosolve is financial inclusion. In many parts of the world, people do not haveaccess to traditional financial services, such as banking and credit. Cryptoprojects aim to change this by providing a decentralized, accessible, andsecure financial system that anyone with an internet connection can use.

One example of a project focused on financial inclusion isStellar. Stellar is a decentralized payment network that aims to makecross-border transactions faster, cheaper, and more accessible. With Stellar,users can send money to anyone in the world, regardless of their location orfinancial situation.

Another problem that crypto projects are trying to solve issupply chain management. In traditional supply chain systems, it can bedifficult to track products from their origin to their final destination. Thiscan lead to inefficiencies, waste, and even fraud. Crypto projects aim to solvethese problems by creating a transparent and immutable record of every step inthe supply chain.

One example of a project focused on supply chain managementis VeChain. VeChain is a blockchain-based platform that allows businesses totrack their products throughout the entire supply chain. By using VeChain,businesses can ensure that their products are authentic, safe, and ethically sourced.

Identity theft and fraud are major problems in the modernworld. Crypto projects are working to solve these problems by creatingdecentralized identity management systems that are more secure and reliablethan traditional systems.

One example of a project focused on identity management isCivic. Civic is a blockchain-based platform that allows users to create andmanage their digital identities. With Civic, users can control their personalinformation and ensure that it is only used by authorized parties.

The environmental impact of human activity is becoming moreand more of a concern. Crypto projects are working to solve these problems bycreating sustainable energy solutions that are more efficient and less damagingto the environment.

One example of a project focused on environmentalsustainability is Power Ledger. Power Ledger is a blockchain-based platformthat allows users to trade renewable energy. With Power Ledger, users can buyand sell energy from a variety of sources, including solar, wind, and hydro.

An important development for the cryptocurrency industry isthe institutional investors' increased interest in cryptocurrencies.Institutional investors provide substantial resources and knowledge to themarket, which may contribute to an improvement in the market's liquidity andstability.

The need to diversify investment portfolios,cryptocurrencies' rising acceptance and adoption, the creation ofinstitutional-grade infrastructure, regulatory clarity, and the potential foractive risk management and due diligence are some of the factors drivinginstitutional investors' growing interest in cryptocurrencies.

It will be fascinating to watch how institutional investorsinfluence the bitcoin market as it develops and how the market changes to satisfytheir wants.

Here is the original post:

The Growing Interest in Cryptocurrency from Institutional Investors - Finance Magnates

India Web 3.0 Blockchain Markets, Competition Forecast & Opportunities, 2028: Focus on Cryptocurrency, Conversational AI, Data & Transaction…

DUBLIN, May 8, 2023 /PRNewswire/ --The "India Web 3.0 Blockchain Market By Blockchain Type (Public, Private, Hybrid, Consortium), By Application (Cryptocurrency, Conversational A.I., Data & Transaction Storage, Payments, Smart Contract, Others), By End-User, By Region, Competition Forecast & Opportunities, 2018-2028" report has been added to ResearchAndMarkets.com's offering.

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India Web 3.0 Blockchain Market is anticipated to grow at a robust pace during the forecast period, 2022-2028

The growth can be credited to the expanding demand for data privacy through the decentralized identity of Web 3.0 and the technological developments on the Internet. The fast rise in recognition of digital assets such as cryptocurrencies, along with the distribution of the 5G and 6G technologies, is additionally expected to contribute to the growth.

Web 3.0's capacity to allow users to access modular apps using blockchain-based technology is fueling market growth. Web 3.0 enables individuals to control their data on websites and provides impressions based on their search content. Social network platforms that improve customer experience, such as how consumers communicate, connect, and establish communities, also utilize Web 3.0 technologies. An important factor promoting the industry's expansion is increased investments in Web 3.0 blockchain technology.

Adoption of cryptocurrencies & Machine Learning (ML)/ Artificial Intelligence (AI) Technologies in India

Cryptocurrencies are Web 3.0's fast and cheap digital payment infrastructure. Thus, it is projected that the growing use of cryptocurrencies will promote market expansion. For instance, the high inflation rates in India and the restrictive and non-streamlined modes of investment presented a golden opportunity for visionary entrepreneurs to set up cryptocurrency exchanges in India.

Due to the intrinsic nature of crypto and blockchain technology, entrepreneurs such as Nischal Shetty (Founder & CEO of WazirX) were able to give rise to crypto exchanges that have an intuitive and easy-to-use User Interface (U.I.). These crypto exchanges also offered almost no annual maintenance charges (AMCs) and a much lower trading fee.

Latest innovations in internet technology and other technologies such as machine learning (ML), big data, digital ledgers, and artificial intelligence (A.I.) are anticipated to propel the industry's growth. There are three stages that the Internet has gone through in its growth. The World Wide Web, often known as Web 1, was the first iteration of the Internet.

Story continues

It is comprised of static pages joined together by hyperlinks. Due to the early phases of content generation, users had almost no opportunity to interact with the applications at that time. Now, people have that opportunity because this market is expected to rise during the forecast period.

In Web 2, people may connect with digital networks and produce the necessary information. Users could collect data, transmit it back to the server, and get more user-generated inputs and more key information. Users could now store data on a blockchain public ledger driven by blockchain and artificial intelligence as a result of using Web3.

Latest Developments in India web 3.0 Blockchain Market

The Web 3.0 industry is expected to expand due to the expanding use of Web 3.0 technology for several commercial applications, including smart contracts, digital identification, documentation, and exchanges. In Web 3.0, Self-Sovereign Identification (SSI) is a useful technique for online identity.

SSI is a technique for establishing identification that bases information control on the client. SSI gives users more control over which information they provide, protecting their privacy by doing away with the necessity of keeping all their personal information in one place. These advantages of SSI in Web 3.0 are also anticipated to help the expansion.

According to the media and entertainment sector study from FICCI-EY for 2022, avatars and virtual lifestyles will spread more widely in India. India is expected to have more than 50 million avatars in the metaverse by 2025, creating a huge opportunity for virtual commerce owing to this market size increasing rapidly in the future.

For instance, according to estimates, the government's blockchain web 3.0 initiatives would contribute close to USD100000000 million to India's GDP in 2021 and $5.1 billion in 2032. In 2032, digital identity might boost India's GDP by an extra $8.2 billion, which is expected to drive India web 3.0 blockchain market during the forecast period.

Restraining Factors

Easy access to user personal and public data: Since Web 3.0 is so large and connected; anybody can access the public and private information that people share online. Users would need a smartphone with above-average specifications to use Web3. Existing webpages must be updated: Existing companies are going to face pressure to update as Web3-based websites and applications become more popular.

Recent Developments

For instance, combining A.R. technology with geolocation to create 3D maps would make it easier for customers to find companies. Digital streaming is experiencing growth in India, which is likely due to the Semantic Web, Web 3.0's original incarnation.

In the next 11 years, auxiliary digital asset-related enterprises that have not yet been created might account for the majority of the $1.1 trillion in total economic growth. NFTs are anticipated to grow into a market of at least $1 trillion, as evidenced by the accounts established on centralized cryptocurrency exchanges, which shows that the adoption rate of digital assets is rising nearly twice as quickly as that of the Internet.

Market Dynamics

Drivers

Adoption of Cryptocurrency in market

Rising ML and AI technology demand

Update version of Web 3.0

Challenges

Lack of awareness

Regular Updation

Market Trends & Developments

SSI Technology establishment

Enter in Entertainment industry

Latest Government investment

Easy-to-use Interface (U.I.) adoption

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the India Web 3.0 Blockchain Market.

Report Scope:

India Web 3.0 Blockchain Market, By Blockchain Type:

Public

Private

Hybrid

Consortium

India Web 3.0 Blockchain Market, By Application:

India Web 3.0 Blockchain Market, By End-User:

India Web 3.0 Blockchain Market, By Region:

For more information about this report visit https://www.researchandmarkets.com/r/u7omci

About ResearchAndMarkets.comResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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India Web 3.0 Blockchain Markets, Competition Forecast & Opportunities, 2028: Focus on Cryptocurrency, Conversational AI, Data & Transaction...