CoinDCX- Weekly Crypto News: Vol 2
13th April- 20th April, 2022
CoinDCX new exchange listing:
MINA on CoinDCX Pro app available in following pairs:
- USDT (3x Long Margin), BUSD, INR & BNB
India’s Best Crypto exchange just got better:
- CoinDCX raised $135 million in funding and increasing its valuation to $2.15 Billion 🚀
- The investment round was led by Pantera Capital & Steadview Capital
- CoinDCX valuation has now doubled after the new series of funding in less than 1 year and has become India’s most valued crypto trading platform 🤩
The Performance of Bitcoin
- BTC price-action took everyone by surprise after visiting the lows of $38,000 level
- Traders and investors alike were in a gloomy trading environment & this price-action negated some of the bearish sentiments
- BTC still has to overcome the $42,500 level with volume & requires a minimum of $46,000 price reclaim to be considered bullish.
On-Chain Data for the week:
The above chart produces the following data-points for our reference:
- Traders who purchased BTC above $40,000 level have become Long-Term HODLers and are not selling the coins under the prevailing bearish sentiments
- Traders who bought BTC above $50,000 price-level have already capitulated and sold their coins. This sell-off put immense sell-side pressure in the market as well as redistribution of coins
- Currently investors are accumulating between the $38,000 & $42,000 level…we saw the behaviour in price when BTC visited the low $38,000 level a few says back
All this makes us wonder if we get a capitulation event in the market or we will continue to have a painful CHOPSOLIDATION in 2022!
CoinDCX LEND on CoinDCX Pro app
In a market with limited upside opportunities, its best to avoid frequent in and out with your capital money and choose safer option of investment like CoinDCX Lend.
Currently the total amount lent by users on CoinDCX Lend is 273.3 BTC ($ 11,336,265.36) across multiple assets
Currently #CoinDCX Lend feature is supported on the CoinDCX Pro app and supports a total of 39 assets with APY as high as 18.01% (variable depending on asset being lent)
The best part of the whole process about CoinDCX Lend is that there is no cancellation charges and isers are free to cancel their Lend at anytime.
Start your trading journey with CoinDCX in simple easy steps:
- Signup with your Name, Email and mobile number
- Accept the CoinDCX’s terms of service
- Complete your KYC verification and add your bank account details
- Once approved, deposit Fiat through your approved bank account or transfer crypto from your other crypto wallet and you are done.