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On September 15th, RBC Chief Economist Francis Donald and his team stated that despite ongoing uncertainty surrounding US-Canada trade, they remain cautiously optimistic about the Canadian economic outlook. Donald predicts that the Canadian economy will grow at a rate below 2% this year and next. However, she believes that with stagnant population growth, the Canadian economy is actually performing stronger on a per capita basis. The resource-rich western provinces are becoming the main drivers of economic growth. Due to concerns about rising energy prices and improving economic conditions, RBC expects the Bank of Canada to raise interest rates four times next year, bringing the policy rate to 3.25%. However, the risk that the first rate hike may not occur until later in 2026 is increasing.On September 15th, according to a European Commission document, the EU will propose a restriction banning children under 15 from using social media, video-sharing platforms, AI chatbots, and online games. This will be the most comprehensive plan the EU has proposed to date to protect children from online risks. This EU proposal is part of the "EU Kids Act," and European Commission President Ursula von der Leyen and EU technology chief Henna Verkunin will announce the plan on Thursday. Von der Leyen may reveal some details in her annual EU policy speech on Wednesday. The document states: "The EUs approach should allow minors to enjoy the enormous potential of digital services while preventing them from being abused and commercialized online. It is necessary to limit the ability of technology companies to access and influence children, rather than the other way around, limiting the children themselves." The European Commissions proposal will also cover video game platforms and allow for phased access restrictions on different services based on age. Furthermore, the obligations imposed on businesses will depend on the type of service and the childs age.French Foreign Minister Barro: Russias attack on the railway near the Ukrainian-Polish border is unacceptable; the targeted train was only a few hundred meters from the EU and NATO borders. This move is intended to deter us. But as a united nation, Europeans are invincible. Finland and Sweden joining NATO is proof of this.Bernd Lange, Chair of the European Parliaments Committee on International Trade: The EU and Canada should form a "team of fairness and partnership" to counter the international order model increasingly influenced by pressure, dependency, and the rule of power. We should promote this idea to countries that seek reliable partnerships, rather than dependency and political pressure.According to Al Jazeera: Israel launched an airstrike on Mansouri in the Tyre region of southern Lebanon.

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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