Mumbai: The Reserve Bank of India may come out with a model on initial implementation of India’s sovereign digital unit, aka Central Bank Digital Currency (CBDC), as early as “the end of this year,” deputy governor T Rabi Sankar said on Friday. “These (CBDC) are extremely evolving technologies and business choices that one has to … Read more
After months of Graphics Processing Unit (GPU) shortage and their skyrocketing prices, there are indications in the European market that the crisis may be nearing its end. A new report reveals that the prices of AMD and Nvidia graphics cards have fallen by nearly 50 percent in Europe. Not just that, when it comes to … Read more
NEW DELHI: Major Crytpocurrencies were trading higher on Tuesday after investor’s confidence was boosted by Tesla chief Elon Musk’s tweet on weekend. Led by Bitcoin and Polkadot, all the top-10 digital tokens posted up to 16 per cent surge. After another weekend of wild price swings, the crypto market got its mojo back following tweets … Read more
MUMBAI: The sudden meltdown in the cryptocurrency market over the past week came as a punch to the gut for investors, who had taken positions based on leverage. Bitcoin, Dogecoin and Ethereum’s over 50 per cent collapse from their all-time highs sent shockwaves throughout the financial markets, with many writing off the asset class for … Read more
Bitcoin’s wild gyrations in 2021 have made sure of one thing: The future of money will be electronic, but it won’t remotely resemble a cyberpunk utopia. People’s power will bow to sovereigns’ might. The mania and panic that have gripped decentralized cryptocurrencies are heightening the attraction of their coming rivals: digital cash, issued by central … Read more
SINGAPORE: Bitcoin fell 3 per cent on Friday, giving up gains from the Asia session, as its recovery from this week’s plunge shows signs of faltering. Bitcoin fell to $39,262 on the Bitstamp exchange. That is roughly 30 per cent above its Wednesday low, but just below its 200-day moving average. Rival cryptocurrency ether also … Read more
NEW YORK: Even by Bitcoin‘s standards, Wednesday was pretty wild. The price of the famously volatile digital currency fell nearly 30% at one point after the China Banking Association warned member banks of the risks associated with digital currencies. The decline narrowed to below 10% in the afternoon, but Bitcoin had still lost about $70 … Read more
LONDON/SINGAPORE: Cryptocurrency ethereum broke $4,000 for the first time on Monday, climbing to a new peak for a third day in a row on bets it may find new uses, although some analysts said it was overvalued at current levels. Ethereum, the second-largest coin by market capitalisation, jumped more than 6% to just below $4,175, … Read more