The images are from SOPA.
The images are from SOPA.
Cryptocurrencies dropped in India Wednesday morning as the country pondered a possible digital asset ban.
The shiba inu coin and dogecoin were not affected by the 20% plunge on the WazirX exchange in India. The article said that the price of Bitcoin dropped on both WazirX and Binance. While remaining steady elsewhere, tether also sunk on the exchange.
The price of private cryptocurrencies in India is likely to decline because of a proposed law.
The price drops made it possible for investors to buy the dip and make money elsewhere. According to a report by CoinDesk, India is a good place for small-time investors because of the lack of regulatory clarity.
The trick was figuring out how to transfer funds from one exchange to another after buying assets at a lower cost. It's not easy. WazirX said that it was experiencing delays in the app, and users said they couldn't move their coins. The problem was fixed several hours later.
WazirX has an open order book and doesn't determine or control the price of anycryptocurrencies on the exchange, according to the platform. There will always be a difference between demand and supply.
The prices can vary between exchanges. The market is being disorganized, unregulated, and disjointed according to an Insider article.
Business Insider has an original article.
