Why Bitcoin Price Is Down In August 2023?

The BTC price crash on August 17 can be attributed to three main factors. First and foremost, a news report from the Wall Street Journal disclosed that Elon Musk’s SpaceX had devalued its Bitcoin (BTC) holdings by $373 million (₹31 Billion) before completely divesting from it. Shortly after this report surfaced, the BTC price experienced instability, slipping below the critical support level of $27,500 (₹22,55,200).

Coinglass, a blockchain analytics platform, reported that over $834 million (₹69.3 Billion) worth of long crypto positions were liquidated within a span of 24 hours. The provided graph illustrates that Bitcoin traders bore the brunt of this, with more than $499 million (₹41.4 Billion) worth of long BTC positions being wiped out.

For more information:-https://academy.suncrypto.in/why-bitcoin-price-is-down-in-august-2023/

Crypto Weekly Report Update As Per August 21

Last week's developments created a buzz in the crypto users' minds. We have to see what this month is planning for the crypto community. But before that check out Crypto Weekly Report Update here.

According to CoinMarketCap, the current market cap is ₹87,778,339,586,216 on 21 August. In the past year, even the top-performing coins were seen struggling in these challenging times and are trying to make a comeback.

For more information:-https://academy.suncrypto.in/crypto-weekly-report-update-as-per-august-21/

Announcement:
Temporary disabling of the buying options for selected coins. Sell and hold are not affected, users can sell all coins or hold for a long time.
This decision comes in response to liquidity challenges faced by the platform, emphasizing Suncrypto's commitment to maintaining a secure and seamless trading experience for users.
https://help.suncrypto.in/support/solutions/articles/82000902844-suncrypto-announces-temporary-disabling-of-certain-coin-purchases

New Listing on Suncrypto
21st Aug, 2023 📢

Dear Community,

We are excited to share with you that we have listed CYBER, OSMO, POND, AR, SEI on SunCrypto and opened trading for the INR pair on Suncrypto.


Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. You may reach out on help.suncrypto.in

Regards,

Team SunCrypto

USDT Vs USDC – The Ultimate Faceoff!

The emergence of cryptocurrencies has brought about a profound transformation in the financial sector, introducing a fresh era characterized by decentralized digital assets. Nonetheless, the volatile nature inherent to these cryptocurrencies can frequently discourage potential investors. This is where stablecoins like USDT Vs USDC step into the forefront.

These digital currencies are linked to stable assets in order to minimize fluctuations and deliver a more consistent trading encounter.

For more information:-https://academy.suncrypto.in/usdt-vs-usdc-the-ultimate-faceoff/

Governance tokens, a novel form of blockchain components rapidly gaining traction, introduce a fresh paradigm to blockchain network governance. These tokens herald a potential transformation of network operations. In this guide, we will explore its nature and its operational mechanisms.

Diverse categories of tokens exist, with governance tokens providing the means for stakeholders to influence pivotal determinations impacting the blockchain or network. This token type empowers users to actively participate in shaping network operations.

For more information:-https://academy.suncrypto.in/what-are-governance-tokens/

SunCrypto’s Mega Trading Competition Is Now Live!

The festival of Rakhi is a time of joy, love, and celebration, and this year, SunCrypto, the leading Indian crypto exchange, is adding a new twist to the festivities. SunCrypto is thrilled to announce its grand Rakhi Mega Trading Competition, a unique opportunity for crypto enthusiasts to not only embrace the spirit of the festival but also trade their way to exciting prizes.

With a generous prize pool of 2,50,000+ INR up for grabs, users can look forward to an exhilarating trading competition that runs from August 25th to September 6th. In addition, this competition will allow the 150 highest trade executors on the SunCrypto exchange to win big cash prizes while profiting from the usual trades.

For more information:- https://academy.suncrypto.in/suncryptos-launches-mega-trading-competition/

🚨New Video Alert🚨

Shiba Inu (SHIB) Fundamental Analysis

Get ready for an insightful dive into the world of the renowned meme coin, Shiba Inu! Join our host, Harshit Dhiman, as he takes you on an enlightening journey through the captivating story of Shiba Inu, from its inception in August 2020 to its remarkable growth by August 2023.

https://youtu.be/yOmbXrBb0XI

Weekly Crypto Round-Up As Of August 28

Last week's developments created a buzz in the crypto users' minds. We have to see what this month is planning for the crypto community. But before that check out Weekly Crypto Round-Up here.

According to CoinMarketCap, the current market cap is ₹86,940,320,868,906 on 28 August. In the past year, even the top-performing coins were seen struggling in these challenging times and are trying to make a comeback.

For this last week, Bitcoin is at the price of ₹2,146,359.00 and has decreased by 0.04% in the last 24 hours, and a dip of 0.25% is seen in the duration of 7 days.

The price of Ethereum at the moment is ₹136,114.06 and has increased by 0.11% in the last 24 hours, and a dip of 1.66% is seen in the duration of 7 days.

For more information: - https://academy.suncrypto.in/weekly-crypto-round-up-as-of-august-28/

This Rakhi wraps a Shagun ka Coin💰 #diversifyyourlove with Suncrypto

Be a part of this groundbreaking celebration by sharing the ad with your friends and family. Spark conversations about embracing innovation while cherishing age-old traditions. Let's come together to celebrate Rakhi with love and crypto, and create lasting memories that bridge the gap between tradition and modernity.

https://youtu.be/yXWBTNJHlGA

Bitcoin Dominance: Is BTC a Commodity?

Bitcoin (BTC), the leading cryptocurrency, has sparked extensive discourse and scrutiny across financial, technological, and legal sectors. A highly debated subject is whether Bitcoin should be categorized as a commodity. This classification not only shapes users' perception and utilization of Bitcoin Dominance but also governs its regulation.

For more information: - https://academy.suncrypto.in/bitcoin-dominance-is-btc-a-commodity/