CoinDCX is Not Going Public Anytime Soon 0 77

As the footprint of cryptocurrencies is increasing all over the globe, it is surely finding its way to the second-largest country in the world by population. Now, the cryptocurrency sector is strengthening its presence within India as there is so much potential in the particular country.

India is one of the top countries when it comes to contributing to the IT sector. It is, therefore, using this ability and knowledge to enhance its exposure in the cryptocurrency sector.

Surprisingly, the cryptocurrency sector in India is not only limited to cryptocurrency investors and users, but it has expanded beyond that point. Several cryptocurrency exchanges have already been launched in India and they are recording very high adoption on their platforms.

Even international exchanges such as Binance and Coinbase have their eyes set upon the largest populated country in the world after China. These exchanges are also aiming to gain more ground in India and they are achieving it with the help of launching their subsidiaries or supporting local exchanges.

At present, the largest cryptocurrency exchange in India is CoinDCX and the Indian cryptocurrency community has really high hopes for it. Since the beginning of 2021, Indian companies are determined to go public. Therefore, the cryptocurrency community in India wouldn’t be wrong in expecting the same from CoinDCX.

CoinDCX has constantly been growing bigger and better in India and therefore, rumors had started rotating surrounding the exchange’s public debut. However, the executives at the exchange have completely defused such rumors by releasing an official statement.

It was on Monday, November 29, 2021, when the exchange executives made an official announcement relating to public listing. The exchange revealed that it hasn’t considered making a public debut through the public listing yet.

The officials revealed that at present, the cryptocurrency situation in the country is not firm. The government is yet to decide on the fate of cryptocurrencies in the country. Then there is the Reserve Bank of India (RBI) that has shown a lot of aggression towards cryptocurrencies.

Even the president of India “Narendra Modi” recently comment on the uncertainty and unregulated nature of cryptocurrencies. Therefore, the exchange currently thinks that it wouldn’t be a good idea to make such a move.

The exchange wants to make calculated moves and due to the current regulatory uncertainty in India surrounding cryptocurrencies, it wouldn’t be the right approach to thinking about an IPO.

The officials have revealed that for now, they are not thinking about the initial public offering, and have no plans for it at all. For now, they are just observing the cryptocurrency industry in the country and waiting for the government to come up with its final verdict.

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Paytm Founder Believes Crypto is Here to Stay 0 84

One of the most prominent digital payment companies based in India is Paytm and its founder recently shared his views about the cryptocurrency space. He appears to be quite positive about crypto and notes that it is here to stay. As a matter of fact, he thinks that crypto will become a mainstream technology in a couple of years. The Indian Chamber of Commerce (ICC) organized a virtual conference on Thursday that provided Vijay Shekhar Sharma the opportunity to speak. Paytm’s founder said that cryptocurrency will stay and is the answer Silicon Valley has to Wall Street. 

A multinational technology company, Paytm is based in India and specializes in digital payments. Last week, the company completed its Initial Public Offering (IPO). Paytm disclosed in its IPO filing that its total number of registered users has reached an impressive 337 million and is dealing with 22 million merchants. Sharma opined that he was very positive about cryptocurrencies because they are based on cryptography and in a couple of years, they would also become a mainstream technology very much like the internet that has now become a part of our daily lives. The Paytm founder did admit that currently, people were only using crypto as a means of speculation.

He elaborated that right now, every government appears to be confused about cryptocurrency, but in a time span of five years, crypto would become mainstream technology. Sharma thinks that people will come to see what the world will be like without crypt. But, he was quick to add that this doesn’t imply that digital currency would actually replace sovereign currencies, such as the Indian rupee. The Paytm founder also added that once his company’s revenue goes past the $1 billion thresholds, he will launch the service in some developed countries as well. 

Currently, he said that Paytm was running the largest payments system in Japan in a JV, but they would go without a partner later on. The Chief Financial Officer (CFO) of Paytm, Madhur Deora had said early this month that his company was considering offering bitcoin services to people, if cryptocurrencies are to be legalized in India. However, this does not seem to be likely any time soon because the Indian government has certainly not taken a positive stance towards these crypto assets. As a matter of fact, the government recently made headlines as it is pushing for crypto legislation in the country and not the good kind.

It is expected that a crypto bill will be introduced and passed in the parliament’s winter session that will begin next week. The purpose of the bill is to impose a ban on private cryptocurrencies, but there are expected to be some exceptions. But, since the bill has not been published, it is not clear as to what kind of exceptions will be applicable. There have been conflicting reports and debates, as some people believe that it just might legalize a few cryptocurrencies, while others believe it will ban them completely in favor of the digital rupee to be introduced by the Reserve Bank of India (RBI). 

MELT, GTC, PAL, and more Cryptocurrencies among Highest Gainers in Past 24-hours 0 88

In the list of highest gaining cryptocurrencies, the cryptocurrency on the top is Defrost Finance (MELT). In the past 24-hours, MELT has observed a 192.83% surge in its price, surging it all the way up to $11.97 per MELT. Similar to the price surge in the past 24-hours, MELT’s trading volume in the past 24-hours has increased to $1,177,520. MELT is currently the 3220th largest cryptocurrency in the crypto-verse in terms of its $1,401,512 market valuation.

The next cryptocurrency coming after Defrost Finance is Gitcoin (GTC). In the past 24-hours, GTC has observed a 171.08% surge in its price, surging it all the way up to $25.56 per GTC. Similar to the price surge in the past 24-hours, GTC’s trading volume in the past 24-hours has increased to $1,199,791,917. GTC is currently the 264th largest cryptocurrency in the crypto-verse in terms of its $363,625,405 market valuation.

The next cryptocurrency coming after Gitcoin is PlayAndLike (PAL). In the past 24-hours, PAL has observed a 168.43% surge in its price, surging it all the way up to $0.0000016 per PAL. Similar to the price surge in the past 24-hours, PAL’s trading volume in the past 24-hours has increased to $52,540. PAL is currently the 4780th largest cryptocurrency in the crypto-verse in terms of its $144,015,382,197 market valuation.

The next cryptocurrency coming after PlayAndLike is Elonomics ($ELONOM). In the past 24-hours, $ELONOM has observed a 131.06% surge in its price, surging it all the way up to $0.02629 per $ELONOM. Similar to the price surge in the past 24-hours, $ELONOM’s trading volume in the past 24-hours has increased to $212,424. $ELONOM is currently the 3934th largest cryptocurrency in the crypto-verse in terms of its $26,633 market valuation.

The next cryptocurrency coming after Elonomics is ICE ROCK MINING (ROCK2). In the past 24-hours, ROCK2 has observed an 85.68% surge in its price, surging it all the way up to $0.01744 per ROCK2. Similar to the price surge in the past 24-hours, ROCK2’s trading volume in the past 24-hours has increased to $67,982. ROCK2 is currently the 2229th largest cryptocurrency in the crypto-verse in terms of its $274,300 market valuation.

The next cryptocurrency coming after ICE ROCK MINING is India Coin (INDIA). In the past 24-hours, INDIA has observed a 128.93% surge in its price, surging it all the way up to $0.0000006419 per INDIA. Similar to the price surge in the past 24-hours, INDIA’s trading volume in the past 24-hours has increased to $452,332. INDIA is currently the 3571st largest cryptocurrency in the crypto-verse in terms of its $3,975,380 market valuation.

Even more cryptocurrencies are joining the ranks of top gainers and among these cryptocurrencies are KING, ALLBI, HIKO, and many more.

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