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On September 5th, US President Trump called the more than six-month-long US-Iran conflict "insignificant" and said he would not describe it as a major war. Trump stated on Friday that it was a "military conflict," but "not a big deal for us," and that there was no ongoing fighting between the two sides. Responding to Vice President Vances earlier statement that it "shouldnt be called a war," Trump said, "In many places, it is," and indicated that the US was currently only conducting intermittent strikes. Trump again compared the 18 US military personnel killed in the conflict to the Vietnam War and the Afghanistan War, saying, "Losing even one person is too much," but those two wars resulted in tens of thousands of US military deaths. He also stated that the US had achieved significant progress on the Iran issue. Polls show that the American public has a low approval rating for Trumps handling of the Iran conflict. The conflict has pushed up energy prices, putting pressure on Republicans to maintain control of Congress in the November midterm elections. Previous comments by Trump administration officials downplaying the impact of the conflict have also drawn criticism from Democrats.According to the U.S. Commodity Futures Trading Commission (CFTC), as of the week ending September 1, net short positions in the Swiss franc were 22,876 contracts. Net short positions in the British pound were 49,575 contracts. Net short positions in the euro were 24,925 contracts. Net short positions in the Japanese yen were 92,227 contracts.September 5th - According to the Wall Street Journal, the U.S. Department of Justices antitrust division was ordered this week to suspend all cooperation with the Canadian government, the latest development in the escalating trade dispute between the two countries. Linda Marshall, head of international affairs at the Justice Departments antitrust division, requested officials in an email to cease cooperation with Canada on cases and policy issues, but did not specify the reasons. The report stated that Justice Department officials indicated such directives are rare, as the U.S. typically cooperates with competition regulators in other countries, even if the governments are not closely aligned. The U.S. and Canadian antitrust agencies have a long history of cooperation, covering areas such as auto parts price manipulation, air freight investigations, and mergers and acquisitions in the technology and aerospace industries. This suspension of cooperation comes as the U.S.-Canada trade dispute continues to escalate. After trade negotiations broke down last month, the Trump administration imposed a 50% tariff on $20 billion worth of Canadian goods, and Canadian Prime Minister Mark Carney subsequently imposed similar tariffs on some U.S. goods. Neither the U.S. Department of Justice nor the White House has commented on this.September 5th - On September 4th local time, US President Trump stated that US special envoys Witkov and Kushner would submit a plan to Russia to end the Russia-Ukraine conflict. Previously, sources indicated that Witkov and Kushner planned to visit Russia and Ukraine in the near future.Note: The signing ceremony for President Trumps executive order at the White House has concluded.

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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