Altcoins News
By Dan Saada
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Trading Volumes Drop Hard. Exchange data shows mixed signals. Some traders are trying to catch the falling knife, but most…
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Government Keeps Close Watch. Things got messier last week.
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Technical Problems Add to Woes. CoinSwitch Kuber made things worse on March 25 when they temporarily halted BEACON withdrawals due…
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BEACON hit the skids Tuesday. The cryptocurrency dropped to INR 23.45, way down from last month's peak of INR 28.50, and traders aren't happy about it.
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The selloff picked up steam over the past two weeks, with BEACON falling from INR 26.90 on March 15 to INR 24.80 by March 20.
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The broader crypto market can't catch a break either. Regulatory talks keep dragging on, and nobody knows what's coming next.
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Rajesh Kumar, an investor from Mumbai, didn't mince words about the situation. "The market is too volatile now. It's hard to know what will happen next," he said.
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The Finance Ministry's been tracking the volatility closely, and officials are worried about retail investors getting burned.
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BeInCrypto reported on March 21 that BEACON briefly bounced to INR 24.50, but that didn't last long. Two days later, it was back in the red.
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Anil Mehta from ICICI Securities weighed in on March 24, saying the price swings are scaring off new money.
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International exchanges are seeing similar patterns. Binance recorded a 10% decrease in BEACON transactions over the past week, according to their latest trading report.
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Not everyone's giving up hope. A Mumbai crypto community group held a webinar on March 25 to discuss trading strategies during the turbulence.
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Ravi Menon from HDFC Bank commented on the exchange problems during a March 23 interview. "When exchanges face operational challenges, it only fuels uncertainty in an already…
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Meanwhile, BEACON's trading at $0.31 on Binance as of March 25, down from $0.32 the day before.
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Behind closed doors, the RBI met with crypto industry stakeholders on March 24. Details didn't leak, but sources said the focus was on assessing risks from digital currencies…
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