With the exception of dollar-linked stablecoins, the other eight of the top 10 digital tokens were trading lower at 9:30 am IST. Terra fell 6%, while Solana, Bitcoin and Cardano lost 4-5% each.
The global crypto market cap is down about 5% to $ 2.22 trillion from the last day. However, the total crypto market volume increased by over 14% to reach $ 99.85 billion.
What do we cook in India?
The Chairman of the Securities and Exchange Board of India, Ajay Tyagi, said today that domestic mutual funds cannot invest in crypto-related products until there is a law for these digital assets. in the country.
On the other hand, India’s cryptocurrency exchanges offer a larger portfolio of digital assets – tokens – to satiate a growing class of investors looking for higher returns.
WazirX launched 12 tokens in December, while CoinSwitch Kuber added five, named Mana, Sand, Gala, Req and Coti. Unocoin recently integrated five new coins, while CoinDCX brought in a group like DappRadar, Highstreet, Convex Finance and ConstitutionDao.
India’s cryptocurrency ecosystem has improved in every aspect this year, said Nischal Shetty, managing director of India’s largest crypto exchange by volume, Wazir X.
CoinSwitch Kuber said on Tuesday it saw its user base increase 14 times in 2021. More than 1.4 crore of Indians used CoinSwitch, up from 10 lakh at the start of the year, the company said.
Turkey’s Financial Crime Investigation Board (MASAK) fined local Binance cryptocurrency exchange unit 8 million lira ($ 751,314) for violations found during liability inspections , said Anadolu news agency.
Rationalization of TVN
NFTs have generated a lot of hype among video game executives for unclear reasons, and fans have grown furious about it. There are a lot of factors to the fantasy of NFTs.
The environmental impact associated with mining crypto, the frequent scams, the urge to never see a cartoon monkey again – but most importantly, their mere presence in a video game is an erosion of trust. Games, especially big budget ones with massive worlds, require a significant investment of time and money on the part of gamers.
Technical view of BuyUcoin cryptocurrency exchange
Solana had a fantastic week with an increase of 10.12% in just one week. SOL moves in a parallel channel, exchanging around the lower line of the channel; the lower trendline can provide support around $ 188. It also has a resistance level of $ 216.
On December 23, Solana (SOL) closed above the 20-day EMA ($ 187), indicating that the correction may come to a close. Conversely, if the price falls below the 20-day EMA, the pair may drop to $ 147. Below that support, the pair could drop to a 200-day SMA ($ 125).
Another interesting token is Terra (LUNA), with a market cap of $ 32 billion according to coinmarketcap. Over the past three days, the bulls have tried unsuccessfully to push the LUNA / USD price above the $ 100 level. This indicates that the bears are trying to drive the price down, causing the price of terra to drop 7.45%.
While Luna’s fundamentals are great, the price can now drop to $ 77 which is another level of support. The Bulls can get back into the game, and if they do, the price could jump up to $ 115.
Support: $ 25, $ 24.3, $ 23.7
Resistance: $ 30.7, $ 32, $ 34
(The time is in UTC and the daily time is 12:00 to 12:00 UTC)
(The opinions and recommendations given in this section are those of the analysts and do not represent those of ETMarkets.com. Please consult your financial advisor before taking any position in the asset (s) mentioned.)