The collapse in cryptocurrencies is easing supply of the most sought after watches on the second-hand market, depressing prices for hard-to-get Patek Philippe and Rolex models. The supply of trophy watches such as the Rolex Daytona or Patek Nautilus 5711A “is now much larger”, online-watch trading platform Chrono24 said in an emailed statement. The recent…
Cryptocurrency market capitalisation, in the week ending July 29, stayed above $1 trillion even as the US Federal Reserve (Fed) hiked its key interest rate by 75 basis points on July 27. Bitcoin has rallied over 10 per cent since Wednesday and Ethereum has jumped over 15 per cent. However, experts say the crypto market’s…
It’s not all doom and gloom. Even as the crypto sector shivers in the bleak winter, venture capitalists are pouring money into digital currency and blockchain startups at a pace that’s set to outstrip last year’s record. In the first half of the year, VCs bet $17.5 billion on such firms, according to data from…
/ — CoinSwitch, India’s largest crypto investing app, has waived off trading fees on bitcoin transactions on its platform for a limited period. All CoinSwitch.co users with fully-verified Know-Your-Client (KYC) and Indian Bank accounts can trade Bitcoin at zero fees in Indian Rupees for the offer period. Bitcoin is the largest crypto by market capitalization…
Regulations and restricted trading are among the solutions experts are debating for India’s cryptocurrency industry which is uncertain about its prospects after the Finance Minister last week said the central bank favours banning the digital asset.
Leading cryptocurrency exchange Blockchain.com has laid off 25 per cent of its workforce, nearly 150 employees, amid the global economic meltdown. The digital assets trading firm said it will shut its Argentina-based offices and halt its expansion plans globally, reports CoinDesk. Severance benefits ranging from four weeks to 12 weeks will be offered to those…
Crypto technology as a means of payment is logical extension of fintech companies but challenges lies on its usage as an asset class and an alternative to currency, Minister of State for Electronics and IT Rajeev Chandrasekhar said on Thursday. Speaking on sidelines of Fintech Festival, Chandrasekhar said the whole world is grappling with the…
Bitcoin is gaining for the third straight day amid a broader rally in risk assets, with the digital currency briefly rising above $24,000 for the first time in more than a month. The world’s largest digital token rose as much as 3.3% Wednesday to trade around $24,066, the highest level since mid-June. It’s on pace…
The market capitalisation (m-cap) of cryptocurrencies topped the $1-trillion mark on Wednesday, capping a weeklong bull run as in India experts cautioned about the future of the digital assets. cryptocurrencies, the largest cryptocurrency by m-cap, was nearing $23,500 after rising nearly 20 per cent in the last seven days, according to coinmarketcap.com. Ethereum, the second…
Finance Minister Nirmala Sitharaman on Monday said the RBI has expressed concerns over cryptocurrencies saying that they should be prohibited as they can have destabilising effect on the monetary and fiscal stability. “In view of the concerns expressed by the RBI on the destabilising effect of cryptocurrencies on the monetary and fiscal stability of a…
