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The Role of Cryptocurrency in Building Wealth: Risks and Rewards Cryptocurrency, often hailed as the financial innovation of the 21st century, has emerged as an alternative investment vehicle for those seeking to build wealth in a new and unconventional way. Digital currencies like Bitcoin, Ethereum, and newer altcoins are changing the landscape of finance, offering exciting opportunities for growth. But, as with any investment, they come with a unique set of risks and rewards that need careful consideration. What is Cryptocurrency? Cryptocurrency refe...
The Role of Cryptocurrency in Building Wealth: Risks and Rewards
The Role of Cryptocurrency in Building Wealth: Risks and Rewards
Source: IGI Editorial
2024-11-27 01:57:37 pm
About 85 pc of world`s cryptocurrencies are not even worth a cent About 85 per cent of the world’s cryptocurrencies are even worth less than one cent, according to a report on Monday.  The total number of cryptocurrencies has been floating between 8,500 and 10,000, with new tokens being launched every time a bull run in the crypto space begins. Currently, the total number of cryptocurrencies remains at a high of 9,861. However, most of them have little or practically no value. As per data analysis by AltIndex.com, 85 per cent of all cryp...
About 85 pc of world`s cryptocurrencies are not even worth a cent
About 85 pc of world`s cryptocurrencies are not even worth a cent
Source: IANS
2024-10-07 06:11:44 pm
Dollar firm before Jerome Powell speech, bitcoin stabilises after breaking record The U.S. dollar was largely steady on Wednesday, as traders avoided making big bets ahead of congressional testimony from Federal Reserve Chair Jerome Powell, as well as the European Central Bank rate decision and U.S. jobs data later this week. In cryptocurrencies, bitcoin was slightly up but stayed below a record high reached in a volatile overnight session. The absence of catalysts kept the dollar in a tight range, having slipped overnight on data that showed the U.S. services indust...
Dollar firm before Jerome Powell speech, bitcoin stabilises after breaking record
Dollar firm before Jerome Powell speech, bitcoin stabilises after breaking record
Source: Reuters
2024-03-06 08:52:15 am
Bitcoin crosses $57,000 for first time since 2021  Bitcoin led a major rally for cryptocurrency prices and related stocks on Tuesday as it bolted above $57,000 for the first time since November 2021, reports said. Bitcoin on Tuesday morning traded above $57,000 after briefly touching $57,430 -- running further up against its late 2021 levels. The world's largest cryptocurrency jumped nearly 11 per cent over the last 24 hours, according to CoinDesk data, the Investor’s Business Daily reported. In addition, mid-February bi...
Bitcoin crosses $57,000 for first time since 2021
Bitcoin crosses $57,000 for first time since 2021
Source: IANS
2024-02-28 09:52:30 am
Bitcoin market cap scales $1 trillion The value of the world’s most popular cryptocurrency, Bitcoin, has more than tripled to $52,000 since November 2022. The year 2022 was marked by the high-profile implosion of crypto exchange FTX, which triggered liquidity crises at several smaller crypto firms, CNN reported. Following bitcoin’s gains in 2023, investors have returned in droves in recent weeks, pushing the asset’s market capitalisation above $1 trillion for the first time since its 2021 heyday, based on ...
Bitcoin market cap scales $1 trillion
Bitcoin market cap scales $1 trillion
Source: IANS
2024-02-21 09:13:42 am
Cryptoverse: Will bitcoin behave better on Wall Street? Bitcoin celebrated its 15th birthday this month by bursting onto Wall Street with an ebullient bang. Now the adolescent asset may have to grow up fast. Investors have embraced 11 U.S. exchange traded funds (ETFs), tracking bitcoin's spot price, that began trading on Jan. 11 after receiving regulatory approval; after two trading days, they held a total of 644,860 bitcoin worth more than $27 billion, according to data from analytics company Glassnode. Much of that - more than 500,000 ...
Cryptoverse: Will bitcoin behave better on Wall Street?
Cryptoverse: Will bitcoin behave better on Wall Street?
Source: Reuters
2024-01-23 12:06:44 pm
Dollar headed for second weekly gain on tempered rates outlook  The dollar headed for a second weekly gain in a row on Friday on signs of resilience in the U.S. economy and caution about rate cuts from central bankers. Weekly gains on the risk-sensitive Australian and New Zealand dollars of 1.7% and 2.1% are set to be the largest since November and June respectively. Markets price a 57% chance of a U.S. rate cut in March, down from 75% a week ago. The dollar index is up 0.9% to 103.4 on the week and at 148.12 yen the dollar is up almost 5% on ...
Dollar headed for second weekly gain on tempered rates outlook
Dollar headed for second weekly gain on tempered rates outlook
Source: Reuters
2024-01-19 09:07:47 am
RBI not thinking of moving towards de-dollarisation: Governor Shaktikanta Das Reserve Bank of India (RBI) Governor Shaktikanta Das said that it is incorrect to say that there was a move towards de-dollarisation as the efforts of the central bank towards internationalisation of the rupee are not aimed at replacing the dollar. “There is no such thinking to move towards de-dollarisation. The dollar will continue to be the dominant currency and whatever we are doing for internationalisation of the rupee, it is not to replace the dollar,” Das said on at the W...
RBI not thinking of moving towards de-dollarisation: Governor Shaktikanta Das
RBI not thinking of moving towards de-dollarisation: Governor Shaktikanta Das
Source: IANS
2024-01-17 12:21:30 pm
Crypto firm Sinohope sees losses grow over 40%, no FTX funds in sight Cryptocurrency firm Sinohope Technology (formerly Huobi Technology) reported more than 40 per cent loss for the first nine months of 2023, as its funds are still stuck in the collapsed crypto exchange FTX. Sinohope reported a net loss of $37 million, nearly 40 per cent greater than its net loss in the same period in 2022, the company said in a filing with the Hong Kong stock exchange, reports South China Morning Post. Sinohope has also reportedly laid off a large number of employees to ...
Crypto firm Sinohope sees losses grow over 40%, no FTX funds in sight
Crypto firm Sinohope sees losses grow over 40%, no FTX funds in sight
Source: IANS
2024-01-02 10:25:13 am
Bitcoin miners see transaction revenue grow a massive 400% in 2023  The revenue collected by Bitcoin miners as transaction fees averaged about $2 million per day in 2023, registering a whopping 400 per cent increase year-on-year. The Bitcoin miners earned more than $10 billion in 2023, according to Jameson Lopp, co-founder of Bitcoin self-custody platform Casa. “Bitcoin miners earned over $10 billion in 2023, a significant addition to the $57 billion total over the past 15 years. This number assumes they instantly sell for fiat, which is mos...
Bitcoin miners see transaction revenue grow a massive 400% in 2023
Bitcoin miners see transaction revenue grow a massive 400% in 2023
Source: IANS
2023-12-25 11:39:51 am
Crypto trading volume on WazirX drops 90% to $1 bn amid regulatory pressure crypto exchange WazirX saw its trading volume nosedive to $1 billion in 2023 -- a massive 90 per cent drop from 2022 -- amid regulatory pressure from the government and a heavy crypto tax regime. Last year, the Indian government introduced a 30 per cent tax on virtual currencies and a 1 per cent deduction for every crypto transaction. According to TechCrunch, the crypto trading on Nischal Shetty-run WazirX was down 90 per cent compared to 2022, when volumes hit $10 billion and 97 per ce...
Crypto trading volume on WazirX drops 90% to $1 bn amid regulatory pressure
Crypto trading volume on WazirX drops 90% to $1 bn amid regulatory pressure
Source: IANS
2023-12-20 10:48:05 am
Crypto exchange HTX loses $258mn in withdrawals  Leading crypto exchange HTX has witnessed a net outflow of $258 million after a $30 million hack in November, the media reported. As per DefiLlama data, crypto users withdrew assets worth between November 25, after HTX resumed operations, and December 10, reports crypto.news. Following a hack on HTX on November 22, over $23 million was siphoned from the platform formerly known as Huobi. Additionally, the Heco bridge, a cross-chain protocol backed by the high-profile digital ent...
Crypto exchange HTX loses $258mn in withdrawals
Crypto exchange HTX loses $258mn in withdrawals
Source: IANS
2023-12-14 09:52:34 am
$173 mn lost in crypto so far in November  The month of November has witnessed a loss of $173 million in cryptocurrency so far, with two incidents making up 91 per cent of the losses. According to the blockchain and smart contract security company CertiK, November has already registered the fourth-highest monthly losses in 2023. This surge was driven by the recent hack of the cryptocurrency exchange Poloniex. Hackers have stolen over $114 million from Poloniex after its “hot wallets” were drained by cyber-cr...
$173 mn lost in crypto so far in November
$173 mn lost in crypto so far in November
Source: IANS
2023-11-20 12:24:06 pm
Framework needed for responsible AI governance, global standards for crypto currency regulation: PM Narendra Modi Prime Minister Narendra Modi on Sunday while addressing the concluding session of the G20 Summit on 'One Future' said that there is a need to create a framework for a responsible human-centric Artificial Intelligence governance.In this regard, India will also give suggestions. He said, "And our efforts will be that in spheres of socio-economic development, global workforce as well as in research and development, the benefits of Artificial Intelligence (AI) are available to all nations."In 201...
Framework needed for responsible AI governance, global standards for crypto currency regulation: PM Narendra Modi
Framework needed for responsible AI governance, global standards for crypto currency regulation: PM Narendra Modi
Source: IANS
2023-09-10 02:55:16pm