CRYPTO MARKET CRASHES IN INDIA OVER EXCHANGE WARNING
India’s regulatory response to Cryptocurrency has not been in favour of cryptocurrency trading. We know that by now. The markets remained unaffected for over 10 weeks until yesterday. In a first of a kind announcement, Zebpay, India’s biggest cryptocurrency exchange by volume warned its users of dismissing fiat (INR) services abruptly. The announcement is titled “Your Rupee Withdrawal Could Stop”. Announcement by Zebpay MARKETS CRASH What followed and still continuing across the Indian market is ‘Panic Selling’. Within minutes of the announcement Bitcoin price went down by more than a lakh on Zebpay. The alts followed suit. XRP prices reached Rs. 28, IOST prices reached Rs. 1.6, VeChain was selling for Rs. 150 and so on. These prices were atleast 20% less compared to international exchanges. For a brief period it seemed like the prices were stabilising, and for most part of the day they remained lower than international exchanges but didn’t move much. Zebpay later release...
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