Asia | Crypto Profit Bot

Market selling might ease, but traders are on the sidelines until BTC confirms $20K as support

June 17, 2022

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The total crypto market capitalization fell off a cliff between June 10 and 13 as it broke below $1 trillion for the first time since January 2021. Bitcoin (BTC) fell by 28% within a week and Ether (ETH) faced an agonizing 34.5% correction. Total crypto market cap, USD billion. Source: TradingView Presently, the total crypto […]

Bitcoin and Ethereum had a rough week, but derivatives data reveals a silver lining

May 13, 2022

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This week the crypto market endured a sharp drop in valuation after Coinbase, the leading U.S. exchange, reported a $430 million quarterly net loss and South Korea announced plans to introduce a 20% tax on crypto gains. During its worst moment, the total market crypto market cap faced a 39% drop from $1.81 trillion to $1.10 […]

Celebrity tokens: Signs of rising crypto adoption in Indonesia

April 3, 2022

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Cryptocurrency investments in Indonesia have seen considerable growth between 2020-2022, with 4% of the country’s population having invested in crypto. In 2021, crypto transaction volumes surpassed $34 billion, according to Indonesia’s Commodity Futures Trading Regulatory Agency. This growth has formed a new mindset toward crypto investment, especially in the mainstream media. One example of cryptocurrencies’ […]

Indonesia’s cryptocurrency community in 2022: An overview

April 2, 2022

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Crypto is the next big thing in Indonesia. According to the Ministry of Trade, transactions for currencies like Bitcoin (BTC) grew over 14 times from a total of 60 trillion rupiahs ($4.1 billion) in 2020 to a total of 859 trillion rupiahs ($59.83 billion) in 2021. It’s getting to the point where crypto is becoming […]

Bitcoin price surges, but derivatives metrics reflect pro traders’ neutral sentiment

March 28, 2022

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As Bitcoin (BTC) finally broke out of the $46,000 resistance on March 27, traders were quick to conclude that the bearish trend was gone for good. Even as the price hit its highest level in 84 days, derivatives metrics and Asia’s Tether premium still show a lack of bullish sentiment. While analysts will struggle to […]

Crypto market selling pressure remains Asia dominated: Glassnode

March 22, 2022

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Investors based in Asia have generally been sellers while those in the US and EU have been buyers for the past two years with only one short exception. 243 Total views 4 Total shares The Bitcoin network’s on-chain activity still appears to be in a bear market as U.S. and E.U. buyers are struggling to […]

How are Afghans using crypto under the Taliban government?

February 22, 2022

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After the Taliban took full control of Afghanistan in August last year, many international non-governmental organizations and services stopped operating in the country. Among them were payment services like Western Union and Swift. Many Afghans subsequently began to learn about cryptocurrencies and the underlying blockchain technology to — at the very least — receive remittances […]

Sanctions and trade: Iran aims to develop a central bank digital currency

February 14, 2022

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As payment methods continue to evolve, new innovations are improving financial infrastructures that have been in use for years. Currently, central bank digital currencies (CBDCs) are a topic that has grabbed the attention of many nations worldwide including the Islamic Republic of Iran. The Middle Eastern nation has faced considerable economic and financial hardships due […]

Indonesia’s crypto industry in 2021: A kaleidoscope

January 24, 2022

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In 2021, the number of global crypto holders has been estimated to have increased by 3.9% to more than 300 million crypto users worldwide, with more than 18,000 businesses already accepting cryptocurrencies as payment. India is currently in the lead with 100 million users, followed by the United States with 27 million users and Russia […]

Bitcoin miners’ resilience to geopolitics — A healthy sign for the network

January 18, 2022

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Considering that Bitcoin (BTC) is a blockchain network that uses a proof-of-work (PoW) consensus mechanism, miners are a highly significant part of the market dynamics of the network and the community itself. On Jan. 5, it was revealed that Kazakhstan shut down its internet services due to unprecedented political unrest sparked by rising fuel prices […]

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Category: Asia