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According to the Financial Times, Ireland has indicated that an EU capital markets agreement is expected to be reached by the end of the year.Global Chip LOF: Trading in this fund will be suspended from the opening of the market on the afternoon of June 22, 2026 until the market closes on the same day.The yield on Japans 20-year government bonds rose 3.5 basis points to 3.600%.On June 22, Kim Yong-beom, the South Korean presidential policy chief, stated that policymakers need to consider how the benefits of the semiconductor industry boom will spread throughout the entire economic system, warning that historically, excess liquidity has often ended up in the real estate market. Kim pointed out that driven by the global artificial intelligence boom, semiconductor industry profits have soared, and South Koreas nominal economic growth rate has reached its fastest pace in over two decades. Although macroeconomic indicators show the economy has entered an exceptionally strong growth phase, many households and small and medium-sized enterprises have not yet truly felt the benefits. Kim noted that in the first quarter, South Koreas real GDP growth was 3.8%, while real gross domestic income growth reached 13.2%, a significant gap indicating that the rise in chip prices has boosted South Koreas purchasing power far more than the growth in actual output. He stated that most of the resulting income growth has not yet been reflected in the broader economy, but may gradually appear in the coming quarters through bonuses, wage increases, and the repatriation of export revenue, ultimately potentially supporting luxury goods consumption and real estate demand. "Looking back at history, this type of capital has flowed into the real estate market many times, and its difficult to assume this cycle will be different," Kim added.June 22 – Hong Kong Chief Executive John Lee led a delegation from the Hong Kong Special Administrative Region (HKSAR) government to Fujian Province today (June 22) to attend the Fujian-Hong Kong High-Level Meeting and the Fifth Fujian-Hong Kong Cooperation Conference. Lee stated that during the visit, several cooperation projects will be signed between Fujian and Hong Kong. The HKSAR delegation will also conduct on-site research, visiting technology companies and cultural projects to learn about Fujians latest developments in areas such as the digital economy. He expects the visit to be fruitful and to open up broader prospects for Fujian-Hong Kong cooperation.

Indian Exchange Volumes Benefiting from Bitcoin Price Drop

Cory Russell

May 12, 2022 10:09

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Bitcoin's anticipated fall from grace in recent days was a phenomenon that surprised investors and dealers. However, this was a happy moment for Indian crypto exchange operators, as trading volumes increased dramatically once BTC's price retested the lower $29,000 zone.

Indian Stock Exchange Volumes Increase

Following a dry period, trade volumes on Indian crypto platforms increased. For the most of this year, Bitcoin and other altcoins experienced a range bound price movement, and Indian crypto exchange volumes were similarly modest.


As bitcoin's price fell by more than 56% from its all-time high of $69,000 in November 2021, transaction volumes increased throughout marketplaces as a result of the selling pressure.


According to accounts from local news organizations, the increase in volumes in India was enormous and lasted almost two days. Trade volumes on crypto trading platforms including WazirX, CoinDCX, and Unocoin increased by 20 to 75 percent.


"Overall volumes increased by 70% between May 8 and 9," stated Nischal Shetty, Co-founder and CEO of WazirX, in an interview. In terms of trading, there is a mood of 'buying the drop,' as buyers have been somewhat controlling the market."


He went on to say that such purchasing activity shows that investor confidence in the market is still high, even at current levels.

India's Web3 Developments Increasing My Pace

According to a recent research, the number of Web3 developers reporting their locations climbed the highest in India and Russia, respectively, increasing to 5.3 percent and 4.3 percent of the market share. The United States, on the other hand, has lost over 20% of its market share since 2015.


With the emergence of Web3 and blockchain development in the Indian subcontinent, an increase in trading volumes amid a wider market fall indicates market players' trust. This meant that Indians succumbed to the "buy the dip" mentality.


"Volatility usually leads to a rise in volume on platforms like ours," said Minal Thukral, Executive Vice President, Growth and Strategy at CoinDCX. We're witnessing an increase in the number of people purchasing the dip and a decrease in the number of users selling it."


However, since the new tax policy took effect on April 1, trade volumes on Indian crypto exchanges have decreased. However, it seems that Indians are increasingly taking greater risks, indicating a growing interest in hazardous asset investments in the country.

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