Hey, Your Crypto Newsletter for April 24, 2021

If you are interested in cryptocurrencies, this newsletter is for you. [FeedBinary Newsletter]( You Might Like     [Learn more about RevenueStripe...](   [Has Dogecoin, Elon Musk’s ‘People’s Crypto’, Fizzled Out After Record Rally?](  After the hype around the coins drove up its value, the meme cryptocurrency has crashed over the past few days. Dogecoin value is faltering after a record making rally where it hit new highs. Dogecoin’s value was driven up with enthusiastic backing from people like Elon Musk, who helped drive the value of the light-hearted dog-themed cryptocurrency that was created as a meme, to an all-time high. The value of the cryptocurrency soared to $0.45 (approximately Rs 34) on April 16. However, since then the cryptocurrency has been on a downslide. The crash began on April 21, a day after fans of Dogecoin celebrated ‘Doge Day’. Using hashtags such as DogeDay and DogeDay420, backers posted memes and messages on various social media platforms to fuel a rise in the cryptocurrency’s value. On Friday, (at the time of writing), Dogecoin’s price was just over Rs. 16. The rise of Dogecoin has been heavily influenced by Tesla and SpaceX CEO Elon Musk, whose tweets time and again have sent the price of the cryptocurrency soaring. On April 15, Musk tweeted the photo of a 1926 painting ‘Dog Barking At The Moon’ by a Spanish artist and changed the title of the artwork ‘Doge barking at the moon’, referring to the cryptocurrency. That took the value of Dogecoin to all-time high. However, since it began crashing, Musk hasn’t tweeted anything yet about the cryptocurrency.  [Read More](   [What is Blockchain? We explain the technology of blockchains](  Investing in Blockchain technology is an inevitable fact that underlines the power that this technology has to solve traditional problems in the financial sector. As a secure, distributed ledger, well-designed Blockchain technology not only eliminates intermediaries, reduces costs, and increases speed and reach, but also offers greater transparency and traceability for many financial processes. In this regard, PwC produced a report ( Blockchain is here. What’s your next move? ), For which 800 high-level executives from financial institutions were interviewed: banks, payment companies, insurance companies, hedge funds and other companies. investment between July and August 2020. Companies were required to have recorded at least $ 1 billion in revenue in 2019 to participate, including Latin American companies, who are part of this global trend. 40% of respondents from top tech companies around the world currently have a blockchain development in production. Meanwhile, 90% of executives think that Blockchain will be more important in the next three years. Meanwhile, Blockchain technology will increase global GDP by $ 1.76 trillion in the next decade.  [Read More](   [Exit window likely for crypto holders, old transactions to be under scanner](  The proposed legislation on cryptocurrencies which is likely to ban digital currencies — except the one being mooted by the Reserve Bank of India (RBI) — is expected to provide an exit window to the existing crypto holders of private entities. According to an official source, the proposed law will be prospective, even though declarations of holdings and transactions may be sought retrospectively. “The government is expected to provide an exit window to existing crypto holders in the event of an outright ban,” said a government official. Indians are believed to hold around US $ 1.5 billion (around Rs 10,000 crore) in cryptocurrencies, according to unofficial estimates. An option to provide an exit period to 3-6 months prior to banning the trading, mining and issuing of cryptos has been discussed in inter- ministerial discussions. A final draft of the bill is yet to be taken to Cabinet,” a source said. On the other hand, the RBI has indicated that it’s “very much in the game” and is getting ready to launch its own digital currency. “Central bank digital currency is a work in progress. The RBI team is working on it, technology side and procedural side… how it will be launched and rolled out,” RBI Governor Shaktikanta Das had said recently.  [Read More]( You Might Like     [Learn more about RevenueStripe...]( Connect with FeedBinary on social media [Facebook]( [Twitter]( [Linkedin]( You received this email because you operate or create content for a website/service and based on your website it seemed like this could be important information to you and your users. This newsletter is managed by [Postbox Consultancy Services Pvt. Ltd](.C-4/5, IBD Emporia, Kolar Road, Bhopal, Madhya Pradesh, INDIA, 462042 Want to change how you receive these emails? [Update your preferences]( or [Unsubscribe](