Bitcoin Use in India is Surging, Coin Dance Data Shows
The latest figures from LocalBitcoins show that there has been an increase in the number of users as well as the use of the world’s top digital currency, Bitcoin, in India. According to Coin Dance, weekly LocalBitcoins volume for Bitcoin rose by over 100 percent in the week of Nov. 26 compared to the previous week - that is 27.7 mln Indian Rupee (INR) in the week of Nov. 26 compared to 16.3 mln INR in the week of Nov. 19. Demonetization effect. Several factors could have been responsible for this surge. Top among them is the recent demonetization of certain denominations in India’s....
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In the end, it doesn't really matter where people are buying their cryptocurrency from. The demand for Bitcoin is surging, as many people had predicted it would. Over the past week, there have been many news stories about Bitcoin in India. After the rupee note ban, the government started targeting gold supplies as well. All of these changes are driving people to Bitcoin, as can be seen on the Coin Dance charts. In fact, the amount of Bitcoin bought and sold through LocalBitcoins has virtually doubled in a week. Surging demand for Bitcoin in India was only a matter of time at this rate.....
Many are looking at recent Bitcoin price increases and are looking for a cause-and-effect. Scams by Russians in China, corporate capital investment at an all time high, and Chinese capital controls are commonly mentioned triggers. One highly probable factor is the simple increase in purchase volume worldwide, according to the Bitcoin sales tracking....
India is now the world’s fifth-largest economy after surpassing the U.K., the latest data from the International Monetary Fund (IMF) shows. India’s former chief economic advisor expects the country to become the world’s third-largest economy by 2028-30.
India Becomes 5th Largest Economy in the World
India has leaped past the U.K. and become the fifth-biggest economy, Bloomberg reported Friday, citing IMF’s GDP data and historic exchange rates. According to this estimation, India surpassed the U.K. in the last quarter of 2021 and is now behind....
Far less women still engage with the Bitcoin community with the exception of organizations such as The Digital Citizen Fund. It is formally known as the "Women’s Annex Foundation" and uses Bitcoin to pay girls and women in developing countries as they learn to access technology, virtually connecting with others across the world and obtaining necessary skills to succeed in a global market. According to figures from Coin Dance, the margin between male and female use of the digital currency is too wide to talk of a balance at this point. In its Bitcoin Community Engagement by Gender....
Bitcoin’s node count has achieved another all-time high milestone with almost half of the nodes running on Tor. The number of reachable Bitcoin network nodes has crossed the 13,000 mark for the first time. As previously reported by Cointelegraph, the previous all-time high was 11,613 achieved back in January.According to data from Bitcoin network statistics dashboard Bitnodes.io, this milestone was reached back on July 5 when the number of reachable nodes clocked in at 13,374. At the time of writing, Bitnodes’ data puts the current network node count at about 12,835, Coin.Dance, another....