Month: May 2022

Indian government’s ‘blockchain not crypto’ stance highlights lack of understanding

Indian crypto businesses are struggling with the new tax policies as trading volumes have dried up and many established crypto firms are looking to relocate to more crypto-friendly jurisdictions. While many developed countries and even several of its Asian counterparts are actively studying and formulating better crypto regulations, the Indian government has maintained a “blockchain, not crypto” stance. It might seem like the government is taking a cautionary step to focus on the underlying technology while keeping its distance from the volatile and risky crypto market. However, going by the…

Bitcoin Could be Entering an Accumulation Range – Three Arrows Capital Co-founder

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Summary: Three Arrows Capital Co-Founder Zhu Su believes Bitcoin might have reentered an accumulation range. According to his analysis, Bitcoin has had a record-breaking seven weeks in the red, signaling possible accumulation. Bitcoin spot and derivatives volumes are also at their one-year highs. Bitcoin is exhibiting some strength against stocks almost overnight Earlier this week, Zhu Su confirmed that Three Arrows Capital had been hit hard by the depegging of UST and subsequent market sell-off and inflation of LUNA. The Co-Founder of Three Arrows Capital, Zhu Su, is of the…

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Bitcoin price predictions abound as traders focus on the next BTC halving cycle

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Terra’s recent collapse has been repeatedly singled out as the main source of weakness affecting crypto assets, but it’s much more likely that a combination of factors are behind the start of this current bear market. At the same time that the market was reeling from the Terra saga, the 2-year mark for the next Bitcoin (BTC) halving was also crossed and this is a metric some analysts have used as an indicator for the end of a bull market. BTC/USD 1-week chart. Source: TradingView As shown on the chart above,…

Terra Collapse Continues to Plague Defi — Value Locked in Cross-Chain Bridges Down 20% This Month – Defi Bitcoin News

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Following the aftermath of the Terra blockchain fiasco, decentralized finance (defi) continues to feel the impact of the project’s fallout. During the last four days the total value locked (TVL) in defi has dropped 2.61% in value, and cross-chain bridges have lost roughly 20.3% during the last 30 days. Value Locked in Cross Chain Bridge Tech Slips 20% Lower Than Last Month Over $100 billion in USD value was recently removed from the total value locked (TVL) in defi and TVL statistics continue to slide. Four days ago, the TVL…