Trading Massive Surge Is Around The Corner For This Reason
The crypto market is once again in the red, as Bitcoin fell in price significantly since the day before.
At the moment of writing this article, Bitcoin is trading in the red and the most important coin in the market is priced at $8,740.30.
BTC managed to rise above $10k more times this year, but the coin suffered various corrections.
Analysts explained that there are more reasons for this, which include whale selloffs, natural corrections ahead of the halving which is scheduled for this May, the increasing global fears around the new coronavirus, and more.
India lifted the banking ban against crypto
Last week, the supreme court of India ruled to lift the banking ban against crypto services and companies.
The Reserve Bank Of India, which is the country’s central bank, enforced a ban against crypto-related transactions since issuing a circular on April 6, 2018, as reported by the Daily Hodl.
CoinDCX crypto exchange integrated with a local bank
Six hours after the Supreme Court issued the verdict, the crypto exchange CoinDCX became the very first platform to integrate with a local bank.
The exchange is based in Mumbai, and it revealed that it now has support for fiat transfers, and it also allows customers to purchase BTC and more digital assets using the Indian rupee by linking their bank accounts.
Sumit Gupta, co-founder, and CEO of CoinDCX stated the following:
“India’s crypto environment is going to have a transformation after the court verdict. Because of this, crypto-INR pairs are going to see a massive jump as new investors (both institutional and retail) can now invest in the crypto markets without any hesitation or skepticism,” he said.
He continued and explained, “The market is open for everyone in India now, and CoinDCX wants to provide these new investors and users with the best solution—banking integration was our priority.”
Large markets are expected to be opened following this move, and this means one crucial thing: crypto mass adoption.
This has been the crypto industry’s main goal back in 2019 and more moves have been made in this direction.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.