Panic sales: China’s crypto ban sparks panic selling among Indians
An unprecedented wave of trading activity swept through India, with transaction volumes increasing by roughly 50% on major crypto exchanges as Bitcoin and Ethereum plummeted to record low levels. This isn’t the first time China has stated its opposition to the use of cryptocurrency. As the country’s anti-crypto stance was reaffirmed, many people panicked and sold their holdings, fearing a loss of profits or investments. To sustain their gains, crypto investors were seen selling smaller asset holdings in the majority of […]
El Salvador’s President says a third of Salvadorans use the Chivo wallet
President Nayib Bukele of El Salvador claims that 2.1 million of his countrymen use the government-backed Chivo cryptocurrency wallet, indicating the country’s apparent success with Bitcoin (BTC). After just three weeks in operation, the controversial president updated his 2.9 million Twitter followers, boasting that Chivo “today has more users than any bank in El Salvador.” […]