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On August 23, Ukrainian President Volodymyr Zelenskyy stated that Ukraine did not participate in any actions to sabotage the Nord Stream gas pipeline connecting Russia and Europe. This comes after a Ukrainian suspect wanted by Germany was arrested in Croatia, becoming the second Ukrainian suspect detained in the case. Zelenskyy said, "Ukraine has never participated in this operation, not even in the first place. I hope the investigation will be fruitful. We are ready to provide assistance." Zelenskyy indicated that the Ukrainian Prosecutors Office and the Ministry of Foreign Affairs are investigating the matter.On August 23, some Japanese citizens held a rally in Tokyo to protest the Sanae Takaichi governments attempts to revise the constitution and its series of military expansion initiatives. Participants strongly opposed the governments push to revise the "Three Security Documents" and attempt to amend the "Three Non-Nuclear Principles."On August 23, Federal Reserve Chairman Neel Kashkari downplayed market concerns about rising U.S. Treasury yields, stating that the market is functioning well and the recent surge is unlikely to affect discussions on monetary policy. Kashkari said on Sunday, "All indications suggest that the U.S. Treasury market is functioning normally, trading is proceeding smoothly, and market liquidity is ample, therefore we can use the federal funds rate as the primary policy tool for reducing inflation." Last week, yields on U.S. Treasury bonds of all maturities rose, with the benchmark 10-year Treasury yield closing at around 4.73%. The 30-year Treasury yield remained near its highest level since 2007. Kashkari stated that while current Treasury yields are high relative to recent historical levels, yields in the 1990s were much higher. "We need more data, but I dont want to prejudge the outcome of the next meeting," he said. "However, I dont currently believe that inflation will fall back to the target level in the short term."Russian President Vladimir Putin: Ukraines 40-day "influence operation" against Russia has failed to change the situation, and Russian forces are continuing their advance.On August 23, affected by Typhoon Zitan (No. 19 of this year), many parts of Guangxi experienced heavy to torrential rain, with some areas experiencing extremely heavy rain. Several rivers exceeded warning levels, and some towns in Fangchenggang and Chongzuo cities faced flooding risks. On August 23, Guangxi held a video conference to coordinate flood and typhoon prevention efforts. According to statistics, as of 6 PM on August 23, 64 townships (subdistricts) in 17 counties (cities, districts) of 6 cities including Fangchenggang, Chongzuo, and Nanning experienced heavy torrential rain, with some areas experiencing extremely heavy rain. 92 townships (subdistricts) in 30 counties (cities, districts) of 10 cities experienced heavy rain. 15 stations on 10 rivers, including the Mingjiang River and its tributaries Gongan River and Pailian River, and the Zuojiang River and its upstream Pinger River, exceeded warning levels. The typhoon has affected 61,000 people, with 54,000 relocated and 8,087 people urgently relocated and resettled. All flood control and disaster relief work is being carried out in an orderly and solid manner.

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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