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On June 21, a source in Switzerland close to the Iranian negotiating team stated that Iran has no plans to hold any negotiations with IAEA Director General Grossi, and his presence in Switzerland does not imply his participation in the negotiations. The source emphasized that the US had requested Grossis participation in the negotiations, but this proposal was opposed by Iran. The source indicated that the Iranian negotiating teams goals are limited to implementing Article 13 of the memorandum, with a focus on Article 1, as well as issues such as unfreezing Iranian assets and lifting oil sanctions.The China Earthquake Networks Center officially measured a 3.1-magnitude earthquake at 19:43 on June 21 in Haixi Prefecture, Qinghai Province (37.78 degrees north latitude, 95.37 degrees east longitude), with a focal depth of 10 kilometers.June 21 – According to the Ministry of Emergency Management, Guizhou, Hubei, Hunan, and Anhui provinces face a high risk of flooding and disasters due to heavy rains over the next three days. Strengthened precautions are needed against flash floods, geological disasters, small and medium-sized river floods, and urban waterlogging that may be triggered by continuous heavy rainfall. On June 21, the State Flood Control and Drought Relief Headquarters Office and the Ministry of Emergency Management organized a joint consultation meeting with the China Meteorological Administration, the Ministry of Water Resources, the Ministry of Natural Resources, the Ministry of Housing and Urban-Rural Development, the Ministry of Transport, and other departments to assess recent rainfall trends and the flood situation, and to plan and deploy flood prevention work in key areas. The meeting emphasized the need to strengthen the linkage between monitoring, forecasting, and early warning response; to increase the frequency of monitoring, provide rolling forecasts, and issue early warnings; to move the work focus forward; to promptly activate and adjust emergency responses; and to take decisive and rigid measures such as shutdowns and control measures as needed.A spokesperson for the Qatari Ministry of Foreign Affairs stated that a technical and expert group has been established to discuss the terms of the final agreement between the United States and Iran, and a follow-up group has been formed to implement the memorandum of understanding until the final agreement is reached.According to Irans Tasnim News Agency, sources close to the negotiating team said that the Strait of Hormuz will not reopen as long as the ceasefire agreement in Lebanon is not observed and the exemption for Iranian oil sales is not approved.

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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