Top 10 Indian Cryptocurrency Exchanges In India

India, the beautiful country, popularly addressed by the term “unity in diversity”, started stepping towards digitalization. Cryptocurrencies got banned in its initial state by many countries and India is one among them.  Fortunately, in March, 2020, Supreme court of India, lifted the ban on Cryptocurrencies and opened the doors widely for the Virtual currencies.  The one and only place to get cryptos is Cryptocurrency Exchange Platform. This article is about the top 10 promising Cryptocurrency Exchanges in India. Top 10  Cryptocurrency Exchanges In India WazirX  WazirX tops the list because…

Bitcoin Exchanges Witnessing Huge Growth Amidst Pandemic and Global Turmoil, Data Suggests

Using cryptocurrencies as a preferred method to “hedge” against real-world risks seems to be a valid play. Data, collated from various bitcoin exchanges, is now pointing towards a huge surge of users, even as retail activity on traditional markets continues to decline.  COVID Pushes Bitcoin Adoption As per publicly available data on crypto exchanges, investors and traders are rushing into Bitcoin. Further, Binance and retail-focused eToro shared new insights with Decrypt, related to crypto trading activity from new users.  eToro’s Guy Hirst notes there’s a 300-400 percent increase in trading…

Crypto Exchanges Speak Out as Binance Takes CoinMarketCap’s Top Spot

For an industry that is supposed to be based upon decentralization, it appears to be getting crowded at the top, with a number of companies transforming into unspoken oligarchs, each wielding huge influence — or at least that’s what some critics argue. One of the most remarkable crypto companies operating today is Binance. In only three short years, Binance has enjoyed a meteoric rise to the top. Criticism of Binance, philosophical or otherwise, can’t fail to take into account the impressive stream of innovation the firm seems to channel. Headed…

People Are Removing the Most Bitcoin From Exchanges Since 2018 Bottom

Bitcoin (BTC) is failing to retake $10,000 due to a fresh wave of miner selling, fresh data suggests ten days after the halving. Compiled by monitoring resource CryptoQuant, the figures show that over the past five days, combined outflows from BTC mining pools spiked 600% — from 1,066 BTC to 7,426 BTC on May 20.  Bitcoin miners sell into $10,000 The change mimics that seen in the week before the halving on May 11, when miner outflows increased from around 2,100 BTC to a high of nearly 5,000 BTC on…

Japanese Exchanges React to Revised Crypto Laws Now in Effect

Japanese cryptocurrency exchange bitbank has begun implementing changes to make it compliant with the country’s revised Payment Services Act (PSA), effective May 1. Atsushi Kuwabara from bitbank spoke to Cointelegraph on how local exchanges and regulatory bodies would be responding to modifications of cryptocurrency-related laws first proposed by the Japanese House of Representatives in 2019.  Crypto by any other name Under the modifications to the PSA, all references to “virtual currency” must be replaced with the term “crypto asset”.  Cointelegraph has reported that the country’s self-regulatory group, the Japan Virtual…

Centralized Exchanges Continue to Shed Bitcoin

Data compiled by Glassnode is showing that the number of Bitcoin (BTC) held on top crypto exchanges has steadily fallen since the violent mid-March crash that saw crypto prices tumble by 50% in a single day. The sum of BTC held on exchanges currently sits at a little over 2.3 million — the lowest it has been since May 22, 2019. As such, the percentage of BTC stored on centralized exchanges has dropped from 14.1% to 12.5%. $3B in BTC removed from exchanges since March The number of BTC stored…

More Than $220M in Bitcoin Withdrawn from Crypto Exchanges Since the Halving

In mid-April, news.Bitcoin.com reported on a great number of BTC withdrawn from cryptocurrency trading platforms and after the third BTC halving, the trend has picked up once again. Data from Glassnode’s Bitcoin Exchange Net-Flow statistics show that close to 24,000 BTC has been withdrawn since May 11. Additionally, statistics from Bituniverse’s exchange reserve data indicate the same, but withdrawals are only affecting certain exchanges. Crypto Exchange Bitcoin Withdrawals Grew Before the Halving, While Tether Rises Just recently, the BTC blockchain experienced its reward halving and a number of observers are…

$200M Worth of BTC Removed From Exchanges Post-Halving

Following Bitcoin’s third block halving on May 11, users removed 23,540 Bitcoins (BTC) from online exchanges. This appears to indicate heightened levels of confidence in the asset. It also continues the recent trend of users moving their coins to wallets they control, and away from major centralized exchanges. In the two months since Black Thursday, the number of BTCs in exchange wallets has dropped from 2,634,574 to 2,332,524. Bitcoin Net Exchange Flow versus Bitcoin Exchange Balances. Source: Glassnode. User behavior One might make a logical assumption that users withdrawing funds…

Since Bitcoin Hit $3,700, $1.7 Billion Left Exchanges: Here’s Why This is Highly Optimistic

Bitcoin has been on a near-unstoppable rally since March’s lows of $3,700. The cryptocurrency at last week’s highs was up more than 170% from the lows, tapping $10,100 after a spectacular jump higher. This trend has been marked by crypto investors withdrawing their BTC off exchanges en-masse in a strong boost to Bitcoin’s medium-term bull case. Bitcoin Is Being Withdrawn Off Exchanges En-Masse Prominent Bitcoiner Jameson Lopp recently shared that per data from Coin Metrics, the amount of BTC held by both BitMEX and Bitfinex — the leading futures exchange…