Indian central bank clarifies regulations as local banks shun crypto
Banks like HDFC and the State Bank of India reportedly cautioned customers against crypto, citing the RBI’s quashed crypto circular. India’s central bank has issued an official notice regarding the fact that local banks are reportedly cautioning customers against using cryptocurrencies like Bitcoin (BTC).
2 Bitcoin price indicators suggest BTC has not bottomed yet
Traders are using various strategies to determine whether Bitcoin’s price has bottomed, but on-chain activity and derivatives data hint that the situation remains precarious. There is currently 2.2 million Bitcoin(BTC) active over the past 30 days, and this is significantly higher than levels seen before October 2020.
0x launches DEX liquidity API on Polygon
0x has released a Polygon version API for its decentralized exchange (DEX) liquidity aggregator, opening up the 0x API tool to the expanding Polygon market. The DEX liquidity bridge service announced the move via a release issued on Monday, marking another milestone for the burgeoning decentralized finance (DeFi) scene on Polygon.
RavenX (RX) charity token donates over $1M to Binance Charity
RavenX is the first-ever completely transparent charity token that donates 2% of every transaction directly to the Binance Charity wallet and has reached $1 million in donations within the first month of launch. Currently trading on PancakeSwap and WhiteBIT, RavenX utilizes smart contract technology on the Binance Smart Chain to provide an innovative investment opportunity tied to philanthropy.
Chinese traders turn to OTC desks amid regulatory crackdown
While exact volume data is hard to ascertain as Chinese OTC transactions are peer-to-peer and use third-party payment platforms, the exchange rate between China’s yuan and popular stable coin Tether (USDT) is seen as a key gauge of local crypto market sentiment — with demand for USDT increasing during market downturns.
- June 1 Daily report: Indian central bank clarifies regulations, BTC has not bottomed yet, 0x launches DEX liquidity API on Polygon, RavenX (RX) charity token donates over $1M to Binance Charity and Chinese traders turn to OTC desks
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- May 31 Daily report: CBDC Can Be Set Up on Ethereum Network, Bitcoin Bears Are Back, We Could Be In for a Bit of a Cardano Summer, Polygon ($MATIC) Data Now Searchable With Help of Google Cloud’s Big Query and Chainlink (LINK) Price Up 6%