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It has been a tough month for the Indian Rupee (INR), as India’s legal tender currency has lost meaningful value in the forex market, despite the recent price disinflation observed in the country. Notably, the US dollar (USD) reached an unprecedented high of ₹83.44 a gains t the INR in August 2023, which evidences the loss of international purchasing power for the Indian Rupee. In this context, Bitcoin (BTC) can also be considered as a value index in the financial market, due to its characteristics of a global and supranational monetary system, which can also be used as a store of value, means of exchange, and unity of accounting. And BTC is ‘crushing’ INR in price performance. BTC/INR price analysis Only in 2023, Bitcoin has overperformed the Indian Rupee with a 74.39% price appreciation. Moving from ₹1,657,684 on January 1, to ₹2,884,539 per BTC on September 23, at the time of publication. BTC/INR 2023 price chart. Source: TradingView Cryptocurrency This is how c...

Apecoin DAO commits $12.5 million to the Digital Art Movement, and announces the launch of a novel governance token, $DAM. The APE Foundation has greenlighted a pivotal investment in the Digital Art Movement (DAM), earmarking a hefty 11 million ApeCoins—a valuation of $12.5 million—for the venture. Orchestrated by community leader Machi Big Brother Jeffrey Huang, the proposition gained massive approval (64.92% votes) from ApeCoin’s governance community . The transaction involves DAM’s significant outlay of 70% of the newly acquired ApeCoins to secure non-fungible tokens (NFTs) from renowned creators YugaLabs. The remaining 30% is slated for investment in other high-caliber initiatives within the digital art ecosystem. "OFFICIAL: The ApeCoin DAO AIP-304 proposal has gone through with 64.92% of the votes in favor." Meaning… 11MM $APE ($12 MM) will likely be spent on Yuga NFTs. When the going gets tough… The tough get going…(to sweep their own ...

The BRICS alliance invited Argentina to join the bloc during the 15th summit in Johannesburg in August. Argentina’s President Alberto Fernandez hailed the BRICS invitation as a “great opportunity” that would “strengthen” the country. However, there’s a peculiar problem that Argentina faces and it might decline the BRICS invitation. The BRICS grouping will be inducted on Jan. 1, 2024, and Fernandez now remains in a tight spot. Argentina is having a general election in October, and a new government will be formed in December 2023. Also Read: 2 BRICS Countries To Be Ahead of U.S. GDP in 2075 For the uninitiated, Fernandez has pulled out from the 2023 elections and will not contest for re-election. Fernandez, a member of the ‘Justicialist Party’ is replaced by Presidential candidate Sergio Massa to fight the elections. If Massa wins, he will undoubtedly follow in Fernandez’s footsteps, accept the BRICS invitation, and join the bloc. Nonetheless, ...

Binance and its CEO and co-founder Changpeng Zhao approached the court on Thursday to dismiss the SEC lawsuit against them. The two parties accused the Wall Street regulator of retroactively enforcing laws. BinanceUS also filed a similar petition against the SEC, asking the court to dismiss the SEC’s actions against it.    Crypto exchange Binance Holdings Limited and CEO and co-founder Changpeng Zhao approached the court on Thursday to dismiss the U.S Securities and Exchange Commission (SEC) lawsuit against them, a Bloomberg report reveals. The 60-page petition filed by Binance and Zhao accused the SEC of acting beyond its authority against the two. Likewise, the filing also detailed other recent actions of the SEC, which they now ask the court to dismiss. Furthermore, the filing accused the regulator of retroactively enforcing its rules against the two parties. As claimed by Binance and Changpeng, the SEC is imposing penalties on acti...

American investment company Galaxy Digital will expand its presence in Europe, appointing new CEO in Europe. Galaxy Digital has appointed Leon Marshall to lead its European operations, seeking expansion opportunities in the region amid Markets in Crypto-Assets (MiCA) crypto currency regulations. Prior to joining Galaxy, Marshall served as Managing Director and Global Head of Sales at Genesis for over four years. Marshall will lead the company’s expansion into Europe and will also manage operations and key customer relationships. “Leon’s tremendous leadership skills and strong track record of developing and scaling digital asset products for European institutional investors will be invaluable to us as we continue to scale our operations in the U.K. and continental Europe aggressively.” Michael Novogratz, Founder of Galaxy Digital Galaxy is looking for ways to expand in Europe Marshall’s appointment follows the firm’s strategic alliance with DWS, one of Europe...

Key takeaways A Binance executive has warned that the exchange could delist multiple stablecoins soon. The delisting will be fueled by the EU’s MiCA regulation taking effect next year. Binance to delist  multiple stablecoins A Binance executive has warned that the cryptocurrency exchange could delist multiple stablecoins from its platform.  The delisting could happen as the cryptocurrency exchange attempts to decipher the implications of the EU’s Markets in Crypto Assets (MiCA) regulation. At the moment, it is still unclear how MiCA will apply to decentralized stablecoins and other foreign stablecoin issuers. However, officials from the European Banking Authority (EBA) have pointed out that the regulation immediately applies to coins already on the market. MiCA was approved last June and will make the EU the first major region in the world to roll out a comprehensive crypto regulation. The regulation would allow crypto exchange an...

Ethereum’s value against Bitcoin has been shrinking. The ETH/BTC pair has been creating lower lows of late. In fact, a few hours ago, it created a low at 0.05981, a level last registered 14 months ago, in July 2022. Alongside, Ethereum’s dominance has also been losing luster. From standing close to 21% in June, the number has been hovering around 18.5% over the last couple of days. ETH/BTC, ETH.D by TradingView Also Read: Ramaswamy’s Crypto Framework is 75% Ready: To Release by Thanksgiving Crypto Analyst and Founder of IntoTheCryptoverse, Benjamin Cowen, asserted in a recent post on X [formerly Twitter] that he expected a more significant move to the downside going forward. “A more significant move to the downside…” 📺https://t.co/iuq2iTBFaI pic.twitter.com/J1x7qgYDRJ — Into The Cryptoverse (@ITC_Crypto) September 19, 2023 Amid this, ETH adoption and accumulation have taken a hit. The latest data from Glassnode reveale...

Crypto prices largely flat ahead of Fed interest rate decision. Dogecoin bulls look to strengthen above key level. Polkadot is struggling with downside pressure. With markets awaiting the Federal Reserve’s rate decision on the afternoon of September 20, the crypto space has Bitcoin and most altcoins poised near key price levels. Bitcoin is above $27,000 while Ethereum is hovering around $1,630. Analysts say the crypto market could experience some upside volatility amid expectations that the Fed will hold steady and possibly pencil in a further rate hike. This would then be followed by the expected pause. Stocks were slightly higher as the market awaited the central bank’s decision on Wednesday. What’s the price outlook for Dogecoin and Polkadot today? Dogecoin price: DOGE bulls have the upper hand Dogecoin currently trades around $0.062, a price level close to the 20-day EMA area that’s given sellers some profit-taking perspective...

Discover how margin and option metrics hint at Bitcoin's path to $28,000 amid the Binance legal battle. The ongoing legal battle between the Binance cryptocurrency exchange and the U.S. Securities and Exchange Commission (SEC) took a surprising turn on Sep. 18. Magistrate Judge Zia M. Faruqui rejected the SEC's request for access to Binance.US's systems. Instead, the Federal Magistrate suggested that the SEC should formulate specific discovery requests. While this decision only temporarily postponed the need for Binance to demonstrate the separation between Binance.US's custody solution and Binance International, the market responded positively. Bitcoin (BTC) surged to its highest level in three weeks, breaking above the $27,000 resistance. Traders are now wondering whether the rally has been supported by leverage or genuine spot buying demand. This is where metrics related to Bitcoin derivatives could potentially provide the solution. Investors must wait three weeks ...

A prominent Crypto YouTuber reveals bullish sentiment on Dogecoin and Solana. He claims to have $100k in both coins, with his DOGE portfolio yielding 400%. The trader advises caution while watching for potential trend breakouts, emphasizing setting stop-loss orders. Amid the crypto market’s recent relief rally, prominent crypto YouTuber Sheldon has announced an over $100,000 bet in alt coins . In a recent video posted to X, Sheldon shared insights into his trading strategies. In particular, Sheldon cited his overly bullish sentiment around Dogecoin (DOGE) and Solana (SOL), spotlighting his substantial investment portfolio in both digital assets. My NEXT $100,000+ Altcoin Trade !! https://t.co/3WhgzbSM0k — Sheldon The Sniper (@Sheldon_Sniper) September 19, 2023 Sheldon disclosed his nearly $202,000 crypto portfolio, which comprises approximately 3.2 million DOGE. Additionally, he mentioned recently opening another crypto futures position of 81,0...

Stacks (STX) posted positive price moves since September 1 , creating excitement among investors. As of 6:09 a.m. EST today, September 19, Stacks (STX) is up by 7% , trading at $0.4953. In addition, its 24-hour volume has surged 423%, reflecting the increased buying demand on STX. While STX continues to post impressive strides, speculation is rising that the anticipated Bitcoin EFT approval may boost investor interest in STX.  Stack’s Innovative Smart Contracts Stacks (STX) has emerged as a prominent player in the cryptocurrency sphere, facilitating smart contracts within the Bitcoin network.  This innovative approach has stirred considerable excitement, mainly because of the impending Bitcoin Exchange-Traded Fund (EFT) approval.  What sets Stacks apart is its unique proposition. It empowers developers to develop decentralized applications (dApps) on the Bitcoin blockchain.  Also, it grants users the opportunity to earn Bitcoin through a mechanism called ...

Justin Bons analyzes Cardano’s L1 scaling strategy with “Input Endorsers.” He predicts ADA’s TPS to reach 1-2k and compares it to AVAX. He advocated for more substantial monolithic scaling and community engagement. In a recent tweet, Justin Bons, a prominent critic of altcoin architecture, shared his view on Cardano‘s scaling efforts, particularly focusing on their layer-one scaling approach with “Input Endorsers.” Bons predicted that the endeavor could grant ADA a transaction processing speed (TPS) ranging between 1,000 and 2,000 transactions per second (TPS). However, he expressed reservations about whether the initiative would be sufficient for Cardano to compete effectively with similar blockchains. 1/5) Cardano is pursuing L1 scaling, with "Input Endorsers" We can predict that this will give ADA a TPS of between 1-2k! It is a great start, but I argue it is not enough to be competitive ADA should sc...

Former Goldman Sachs executive Raoul Pal says that Solana (SOL) is one of his top altcoin picks and is potentially the most promising project outside of Ethereum (ETH). In a new interview with Altcoin Daily, the Real Vision founder says Solana co-founder Anatoly Yakovenko, commonly referred to as Toly, is becoming an important thought leader in the crypto space and represents the Solana ecosystem nicely. “Too many people get too involved with what they like because they like it and they’re a part of that thing. But I just observe Solana… I see Toly as a thought leader. He’s accepting of others around him, he builds bridges and doesn’t destroy them. I see a very engaged developer community. And people are really, really passionate about building their ecosystem and building their technology, and there’s a lot of people who use it, and there’s a lot of public awareness of the chain.” Recently, payments giant Visa anno...

Technical indicators suggest that DOT’s price has recorded its bottom. DOT’s price recently broke out of a bullish chart pattern that had formed on its daily chart over the past few weeks. Meanwhile, AVAX will need to overcome an overwhelming medium-term negative trend line on its charts. As the cryptocurrency community prepares for the next bull cycle, traders and investors scour the market for great opportunities to purchase their favorite cryptocurrencies at a discount. Two projects that show a substantial amount of potential are Polkadot (DOT) and Avalanche (AVAX) as investors seek the next Layer-1 project that could potentially surpass Ethereum. From a technical perspective, DOT’s bottom for this bear market may have been established given the fact that the altcoin recently broke out of a bullish chart pattern. AVAX, however, may still be at risk of its price dropping further in the coming 2 weeks as a negative trend line formed on its charts. Daily ...

Key Takeaways The total supply of stablecoins has fallen every month since UST collapsed in May 2023 Last month saw another $1.7 billion of outflows, the total supply now 33% off its peak Tether’s market share has increased amid stuttering rivals, but all other coins have seen large drawdowns Liquidity and volume in the space overall is thin and continues to fall If one wanted to sum up the past few years in crypto, the stablecoin market would be a good place to start.  The branch of the industry so important for liquidity has been heavily dented, with the total supply of stablecoins on the market now less than $125 billion. That represents a 33% decline from the peak of $188 billion, on the eve of the Terra collapse last May. Since that infamous Terra meltdown, which saw the $18 billion UST not-so-stablecoin evaporate into thin air, the market has continued to pare down. In line with a tightening in financia...

A dating app encounter turned awry when a fraudster used a fake Uniswap account to dupe his date into a $20,000 cryptocurrency scam. The deceptive digital love connection In a world increasingly intertwined with technology, online romance can sometimes take unexpected and costly turns. According to a local Detroit report, a Troy, Michigan-based woman has lost $20,000 to a fraudster she met on a dating app.  According to the report, the victim crossed paths with a seemingly charming man back in June through a dating app. Over time, their connection grew stronger, and trust developed. However, the scammer convinced the woman to invest $20,000 in cryptocurrency through what appeared to be a legitimate Uniswap interface. You might also like: Scammers hack Twitter portal using stolen Italian government emails As the victim plunged into the crypto world, her newfound partner’s true intentions began to emerge. Just a day after pumping her hard-earned money into the scam ...

Buterin shared doubts about Hong Kong’s crypto welcome party and laws during a Singapore summit, prompting an invitation from local regulator Johnny Ng. A member of the Legislative Council invited Ethereum (ETH) creator Vitalik Buterin to scope out Hong Kong’s regulatory atmosphere and assured Buterin of lasting crypto-friendly rules for compliant operators. Council member Johnny Ng beckoned Buterin to Hong Kong in response to the crypto OG’s comments at the Web3 Transitions Summit in Singapore.  During the event, Buterin noted that though he did not fully understand the “complicated interaction between Hong Kong and mainland China.” He worried about how long policies meant to bootstrap crypto innovation in the region might last. Hong Kong is a special administrative region linked to mainland China with its legislative procedures and policy formulation. According to Johnny Ng, Hong Kong has Beijing’s backing to explore digital assets and develop a framework to oversee ...