Just yesterday, i.e. wednesday July 20, Bitcoin illuminated the spirits by climbing above the $24,000 mark but today, a sharp fall of over 1% is on records, as the majestic crypto-form sank to $22,955. Such a plunge is found to be something that has not occured for over a month. Fintech news updates to get amazed at what financial technology has contributed to us.
No doubt, such is the most favourite form of crypto-currency around the globe which has been on the path of recovery, simultaneous to stock markets, spreading smiles on the faces of investors and pushing them into the gossiping mood. Fintech news updates in India are right for you.
But such a decline in its value has hit the celebrations tremendously hard. This is your right to be in the know of useful fintech news updates in India.
Pretty interesting to note, however, that the global market cap of cryptocurrency, during the past 24 hours, surged to above the $1 trillion mark which is over 2% despite such a steep plunge. This is about $1.08 trillion according to CoinGecko.
Ether, which belongs to Ethereum blockchain and stands next to Bitcoin in terms of popularity and worth, also witnessed a fall by 2%. Fintech news updates in India to help you make fearless decisions.
Then, we have dogecoin, which remains in trade for less than a percent as of today at $0.06.
Referring to others in the quest like XRP, BNB, Solana, Litecoin, Stellar, Tron, Chainlink, Apecoin, Avalanche, Polkadot, Polygon, Uniswap etc their prices also lost the grit in the 24 hours that we have lived last.
Citing the concerns related to his company’s overall liquidity, Tesla chief sold 75% of his holdings in virtual token.
Tesla, in the second quarter, put on sale bitcoin worth $936 million while the company made a purchase of cryptocurrency worth $1.5 billion, just over an year ago. Fitnech news updates in India are right here.
Meanwhile, Musk hasn’t declared selling any chunk of his dogecoin. Don’t get ditched and rely upon fintech news updates in India through credible sources.
Then, Zipmex, a popular crypto-exchange operating in Singapore and Thailand notified about suspending the withdrawal operations on being distressed by regular defaults and this is something that terrifies the industry of digital assets.
Like Zipmex, we have other firms which adhere to this line, i.e. Celsius Network Limited and Vauld which has made the investors jittery. Stay ahead with our fintech news updates in India.
Also, Vauld has approached the court in Singapore in order to ward off the debacle and has sought money from its rival considering a deal.
Reserve bank of India Puts Efforts Targeting Phased Implementation’ of Central Bank Digital Currency
The RBI (India’s central Bank) is relentlessly pursuing, “phased implementation of a central bank digital currency (CBDC) in both wholesale and retail segments.” RBI Act 1934 has witnessed imperative amendments aimed at broadening the scope of digital currency and to pilot it as well.
This was highlighted by an RBI official and the similar sentiments were echoed by Minister of State in the Ministry of Finance, later regarding central bank digital currency (CBDC). Fintech news updates in India for making informed business decisions. Fintech news updates in India to make you aware about emerging trends.
Ajay Kumar Choudhary, RBI executive director, attended PICUP Fintech Conference and Awards on wednesday where he tried to clear the air on this before the media, “RBI is working on phased implementation of a central bank digital currency (CBDC) in both wholesale and retail segments.
While on Tuesday, Pankaj Choudhary, in the capacity of Minister of State in the Ministry of Finance echoed similar spirits as he declared in Rajya Sabha, the upper house of Indian parliament that, “RBI has started the work for a phased implementation of the announcement made … in the budget speech 2022-23.”
Earlier in the Union Budget of 2022-23, Finance Minister Nirmala Sitharaman hinted about CBDC and following this announcement, certain changes were made to RBI Act, 1934. Fintech news updates in India.
Just last month, RBI Deputy Governor, T Rabi Sankar, underlined the organizational belief that “CBDCs would actually be able to kill whatever little case there could be for private cryptocurrencies.”
Interestingly, RBI and the Indian government term Bitcoin and Ether as private cryptocurrencies lacking state’s approval. RBI in May expressed concerns that crypto could result in dollarization of country’s economy in some part. Fintech news updates in India to develop your thoughts.
As a matter of factly, in the beginning of July, our RBI governor, Shakti Kanta Das revealed, “Cryptocurrencies are a clear danger. Anything that derives value based on make-believe, without any underlying, is just speculation under a sophisticated name.”
This becomes worth mentioning here that the Central Bank has always come out strongly against cryptocurrencies and voiced in favour of prohibiting these. Fintech news updates in India to shape your ideas.
But as this week began, our Finance Minister addressed the parliament, “any legislation for regulation or for banning can be effective only after significant international collaboration on evaluation of the risks and benefits and evolution of common taxonomy and standards.” Fintech news updates in India to make you a smart businessman.
Now, dear readers, let’s see what churns out from such wide and lengthy financial brainstorming on such a matter. Trust us for insightful fintech news updates in India.
Please Meet User-Centric BKEX Exchange: (Fintech News updates in India)
(Chinese name: 币客) Such is a mega crypto-currency hub entitles traders to interchange a massive range of cryptocurrencies for profits (say over a 1000, right from Bitcoin, Ethereum, dogecoin, XRP to others lesser known). Fintech news updates in India are right here.
The exchange was launched in 2018 in the British Virgin Islands and has won hearts all around on the back of its services steadfast to the field. Fintech news updates in India to stay ahead in competition.
It proceeds with the core wisdom “user-first and user-centric”. Trusted fintech news updates in India.
Basic Information Given Below As Fintech News Updates in India:
Chinese name: 币客
English name: BKEX
Established Since: 2018 (Fintech news updates in India)
Established in: British Virgin Islands
Founder: JM (Useful fintech news updates in India)
Website: www.bkex.com
Platform Token:BKK
Slogan: Make cryptocurrency circulation more valuable. Useful Fintech News updates in India.
Business scope: Blockchain digital asset transaction Cryptocurrency transaction
Gradually, the exchange has won around 8 million subscribers and its trading volume runs into billions on every single day operation. It boasts of a wide service scope and includes contract trading, spot trading, OTC trading, cloud mining service, wealth management among other services. Fintech news updates in India.
Striking Aspects Covered Under Fintech News Updates in India:
- 10 currencies are held sacred for transactions, i.e. currencies: BTC, ETH, EOS, LTC, BCH, XRP, DOT, LINK, UNI, and FIL and users relish leverage from 1-100 times. Fintech news updates in India to nourish your thoughts.
- Users are at liberty to select leverage multiplier which is determined as per their positions.
- Crypto’s is a whimsical market but as a shock absorber, many tools are at disposal of users from BKEX side, such as preset stop order, market-add, reverse-open, and other features. Fintech news updates in India to keep you ahead.
- Over a 1000 cryptocurrency pairs enjoy the BKEX support. Unlock Fintech news updates in India.
- Fiat currency trading is also allowed but it is limited to THB but arrangements are made to includeUSD, EUR, GBP, AUD, RUB, etc. We provide useful fintech news updates in India.
- Trade leverage can be enjoyed ETPs (BTC5L, BTC5S, ETH5L,etc) and consistent contracts can be made for BTC, ETH, LTC, BCH, EOS, XRP and many other cryptos are included too. We cover latest Fintech news updates in India.
Besides, BKEX also upholds market orders, limit orders and trigger orders to readjust to other transactional formats. Further, when one registers to trade on this platform, he can opt for double position as well as multiple position. Fintech news updates in India are right here.
Additionally, users can also approach BKEX for the purpose of project mining pools. Digital assets can be locked and we get APY which can be upto 35%. Flexible unlocking can be done in regard to some cryptocurrencies and considerable APY can be earned. Fintech news updates in India are just a click away.
BKEX Hierarchical Liquidation As A Strategic Framework:
Normally, when users dive into leveraged trade, trade may get liquidated if proper strategy is not followed and one suffers by losing funds. But on BKEX, the platform adheres to a hierarchical liquidation framework which slays the position slowly.
Fintech news updates in India through credible sources.
When a user reaches minimum balance, position liquifies in its entirety and such a measure is hailed to be a safety valve which gives users relief as they suffer with less amount while they enjoy a learning trading experience. Fintech news updates in India to help you put your best foot forward.
Token Information (BKK) Covered As Fintech News Updates In India:
BKEX’s token is called BKK which was unveiled in early 2020 while its present day market cap is an $8.5 million. At present, the max supply of BKK tokens is decided at 164 million and cryptocurrency enjoys a considerable trading volume which is consistent too.
Fintech news updates in India are right here.
Currently, BKK is included in their exchange BKEX listing and also on CoinEx and for quick news and analysis, please rely us for fintech news updates in India.
Social Media：
Twitter: https://twitter.com/BKEXGlobal
Facebook: https://www.facebook.com/BKEXGlobal/
Reddit: https://www.reddit.com/user/bkex-exchange
Instagram: https://www.instagram.com/bkexglobal/
LinkedIn: https://www.linkedin.com/company/bkex-com
Medium: https://medium.com/bkex-content-center
YouTube: https://www.youtube.com/channel/UCkLdGDrNjxkE9XU03kLp3hA
English Telegram group: https://t.me/BKEXEnglish
