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On August 15th, Iranian Foreign Minister Araqchi stated in a media interview on August 14th that while mediators Qatar and Pakistan are exchanging information and maintaining contact with Iran, this does not signify ongoing negotiations. Iran has not yet decided whether to resume negotiations with the United States. Araqchi also stated that negotiations between Iran and Oman are ongoing and relate to determining the navigation routes through the Strait of Hormuz for ship passage; this is a completely different issue from the opening of the Strait of Hormuz. Araqchi emphasized that Iran will only restore passage through the Strait of Hormuz if the United States complies with certain conditions.August 15th - According to the New York Times, supply problems for the USS Abraham Lincoln aircraft carrier began shortly after the first day of the war – when Iranian missiles and attack drones struck a US Navy base in Bahrain. This attack was Iranian retaliation for the US-Israel joint attack on Tehran, and much of the bases infrastructure was destroyed. Along with the smoke, a major logistics hub upon which the Navy relied was also destroyed. The Navy urgently needed backup plans to continue supplying sailors operating around the clock to maintain air support and, later, to maintain the blockade of Iranian ports. The loss of the Bahrain logistics hub led to numerous problem reports on the carrier supporting the war effort against Iran, and Democratic senators expressed concern about the 5,000 sailors on the Lincoln and its nearly nine-month deployment.August 15th - According to Politico, President Trumps demands on the Navy reached their peak this month, threatening to further weaken an already heavily financially and logistically burdened branch of the military. Trumps deployment of the USS Abraham Lincoln aircraft carrier has set a record, with the ship having been at sea for nine consecutive months, and sailors families warning that the crew is nearing its limit. A government report indicates that Trumps proposed "golden fleet" of new battleships will cost billions of dollars more than expected. Meanwhile, experts have criticized the presidents order to reinstate outdated technology, a move that could completely disrupt ship production. These problems are now compounding, significantly increasing the pressure on the U.S. Navy. The Navy itself is chronically plagued by delays, cost overruns, and a shrinking fleet, all of which could jeopardize its ability to defend the nation. One U.S. official said, "Our warships are exhausted in the Middle East and the Caribbean, with no end in sight. The Navy is really on the line right now."Iranian Foreign Minister: Iran has not yet decided to resume negotiations with the United States.On August 15, South Korean President Lee Jae-myung proposed a "blueprint for inclusive and stable peaceful coexistence with North Korea," indicating that he would begin the process of transforming the unstable armistice regime on the Korean Peninsula into a peace regime.

Indian Exchange Volumes Benefiting from Bitcoin Price Drop

Cory Russell

May 12, 2022 10:09

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Bitcoin's anticipated fall from grace in recent days was a phenomenon that surprised investors and dealers. However, this was a happy moment for Indian crypto exchange operators, as trading volumes increased dramatically once BTC's price retested the lower $29,000 zone.

Indian Stock Exchange Volumes Increase

Following a dry period, trade volumes on Indian crypto platforms increased. For the most of this year, Bitcoin and other altcoins experienced a range bound price movement, and Indian crypto exchange volumes were similarly modest.


As bitcoin's price fell by more than 56% from its all-time high of $69,000 in November 2021, transaction volumes increased throughout marketplaces as a result of the selling pressure.


According to accounts from local news organizations, the increase in volumes in India was enormous and lasted almost two days. Trade volumes on crypto trading platforms including WazirX, CoinDCX, and Unocoin increased by 20 to 75 percent.


"Overall volumes increased by 70% between May 8 and 9," stated Nischal Shetty, Co-founder and CEO of WazirX, in an interview. In terms of trading, there is a mood of 'buying the drop,' as buyers have been somewhat controlling the market."


He went on to say that such purchasing activity shows that investor confidence in the market is still high, even at current levels.

India's Web3 Developments Increasing My Pace

According to a recent research, the number of Web3 developers reporting their locations climbed the highest in India and Russia, respectively, increasing to 5.3 percent and 4.3 percent of the market share. The United States, on the other hand, has lost over 20% of its market share since 2015.


With the emergence of Web3 and blockchain development in the Indian subcontinent, an increase in trading volumes amid a wider market fall indicates market players' trust. This meant that Indians succumbed to the "buy the dip" mentality.


"Volatility usually leads to a rise in volume on platforms like ours," said Minal Thukral, Executive Vice President, Growth and Strategy at CoinDCX. We're witnessing an increase in the number of people purchasing the dip and a decrease in the number of users selling it."


However, since the new tax policy took effect on April 1, trade volumes on Indian crypto exchanges have decreased. However, it seems that Indians are increasingly taking greater risks, indicating a growing interest in hazardous asset investments in the country.

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