Business
Bitcoin, Ethereum Trade in Reds as Crypto Market Remains Impacted by War-Triggered Volatility
The cryptocurrency market has been volatile this month, especially in the past week when Russia began to invade Ukraine, drawing harsh criticism from most countries. Bitcoin opened 1.67% lower on Indian exchange CoinSwitch Kuber to trade at $40,458 (about Rs 3.05 lakh). On Monday, February 28, Bitcoin’s value hovered near the $40,000 (roughly Rs. 3 million) mark, which was first touched in 2022 earlier this month.
BTC also saw small losses on international exchanges. For example, on CoinMarketCap and Binance, bitcoin prices fell about 1.25% to open at about $37,770 (~2.85 million).
Ethereum’s market trajectory replicates that of Bitcoin. According to data from the Gadgets 360 crypto price tracker, ETH fell 3.9 percent to trade at $2,753 (roughly Rs 2 lakh).
On international exchanges such as Coinbase, ether’s losses were smaller, around 2.5%. The second-largest cryptocurrency is trading at $2,614 (~$198,000), slightly different from its rate in India.
Binance Coin, Ripple, Polkadot, Terra and Avalanche were other altcoins that opened the last day of February in the red.
Dogecoin and Shiba Inu also failed to generate profits.
However, some altcoins have managed to generate gains, but only marginally.
Stablecoins like Tether, Binance USD, and USD Coin, along with Uniswap, Cardano, and Solana, have helped keep the green on crypto price charts.
Stablecoins are those cryptoassets that are backed by the value of an underlying “stable” reserve asset such as gold or the U.S. dollar.
Ukraine has been attacked by Russia for four days.
Safe-haven assets such as gold and fiat currencies are attracting more and more investors as intense geopolitical tensions continue to roil risk stock and cryptocurrency markets.
To raise emergency funds, Ukraine started accepting cryptocurrency donations from around the world. Over the weekend, the official Ukrainian Twitter account released crypto wallet addresses for BTC and ETH donations.
According to blockchain analytics firm Elliptic, Ukraine has raised $8 million (approximately Rs 600 crore) from cryptocurrency donations.
In these trying times, cryptocurrencies, which are inherently unregulated and decentralized, can be a game-changer for the economy. Finally, digital assets enable instant cross-border remittances with no amount limit.
The Ukrainian government has called for a major crypto crackdown on Russia as its residents seek safety and food in the blast.
Deputy Prime Minister of Ukraine Mykhailo Fedorov has called on all major cryptocurrency exchanges to temporarily ban Russian users.
Complete news Source : Gadgets360
Business
Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise
Tributes continue to pour in for Ratan Tata, with Virat Kohli and Jay Shah taking to their social media accounts to bid farewell to the industrialist.
Former Indian captain and batting legend Virat Kohli paid a touching tribute to Ratan Tata, the legendary business tycoon, who passed away on Wednesday night. Tata, a Padma Vibhushan recipient, was undergoing treatment in intensive care since Monday but breathed his last in Mumbai, leaving a profound impact on many across the nation.
Kohli expressed his condolences through his Instagram account on Thursday morning, sharing a heartfelt message along with a photo of the late industrialist.
Tata’s contribution to business, society, and philanthropy has been widely acknowledged, and his passing marks the end of an era.
The Board of Control for Cricket in India (BCCI) secretary, Jay Shah, also conveyed his sorrow, stating, “Deeply saddened by the loss of Shri Ratan Tata Ji. His leadership, integrity, and dedication to society set a remarkable standard for legacy. My heartfelt condolences to his loved ones. Rest in peace, Sir.” Shah’s words reflect the collective grief of a nation that has long admired Tata’s contributions to the country.
BCCI’s tribute
Additionally, the BCCI issued a statement about his demise.
“The BCCI expresses its deepest sorrow and joins the nation in mourning the passing of Shri Ratan Tata ji. His invaluable contributions across diverse fields have been instrumental in shaping India’s growth and success story.
His extraordinary legacy, founded on the principles of passion, empathy, visionary leadership, innovation, and excellence, will continue to inspire and guide future generations for years to come,” the statement read.
Ratan Tata, born on December 28, 1937, in Mumbai, embarked on his journey with the Tata Group in 1962 as a young executive. Over the decades, he transformed the group into a global conglomerate. His work was acknowledged with India’s second-highest civilian honour, the Padma Vibhushan, in 2008, and he received numerous accolades, including honorary doctorates from prestigious institutions in India and abroad.
Tata is survived by his family, including brothers and sisters Simone Tata, Jimmy Tata, Noel Tata, Aloo Tata, Shireen Jejeebhoy, Deanne Jejeebhoy, Leah Tata, Maya Tata, Neville Tata, Manasi Tata, Jamset Tata, Tiana Tata, and others, as mentioned in a family statement.
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