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Barclays lowered its price target for Murphy Oil (MUR.N) from $43 to $38.Barclays raised its price target for Airbnb (ABNB.O) from $125 to $150.On August 10th, the Shanghai Stock Exchange Listing Review Committee announced that it will hold its 47th meeting of 2026 on August 17th to review the IPO application of Guangdong Kerui Strontium CNC Technology Co., Ltd.On August 10th, seven departments, including the Shanghai Municipal Commission of Commerce, issued the "Construction Plan for the Shanghai National Service Trade Innovation and Development Demonstration Zone." The plan aims to attract enterprises and institutions to establish artificial intelligence R&D centers, open-source platforms, and collaborative laboratories. It promotes the expansion of overseas access to computing power and basic large-scale models, and supports the export of model products such as intelligent agents and multimodal generation. It also encourages intelligent terminal enterprises, such as embodied intelligence, to expand new full-cycle service models. Furthermore, it supports the application of artificial intelligence in industries such as healthcare, education, and professional services. The plan also calls for successfully hosting the World Artificial Intelligence Conference and global developer events, and accelerating the construction of the headquarters of the World Artificial Intelligence Cooperation Organization. Support will be provided for Pudong New Area to build a pilot zone for innovative applications of artificial intelligence, and for Xuhui District to build the "Model Speed Space" large-scale model innovation ecosystem community. Finally, the plan explores the establishment of a global governance system for artificial intelligence.On August 10th, seven departments, including the Shanghai Municipal Commission of Commerce, issued the "Construction Plan for the Shanghai National Service Trade Innovation and Development Demonstration Zone." The plan emphasizes improving service trade supporting the integrated circuit industry. It promotes the integration of integrated circuit design and manufacturing, and establishes an international joint design center in the Lingang New Area. The plan supports integrated circuit companies in achieving breakthroughs across the entire industry chain and cultivating a number of internationally competitive leading enterprises. It stipulates that imported testing consumables used within comprehensive bonded zones will be reimbursed based on actual testing consumption, and that pilot projects for integrated circuit testing outside comprehensive bonded zones will be subject to bonded supervision. The plan also supports integrated circuit companies in conducting international trade distribution business.

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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