Nearly 30K Bitcoin millionaires wiped in last 3 months

by Argus News

NEWS HIGHLIGHTS

Almost 30,000 Bitcoin millionaires have been wiped in the last three months as the volatile cryptocurrency is witnessing a free fall.

New Delhi, Jan 27: Almost 30,000 Bitcoin millionaires have been wiped in the last three months as the volatile cryptocurrency is witnessing a free fall -- from $69,000 in November to nearly $36,000 (as of Thursday) -- owing to regulatory scrutiny and geopolitical unrest.

According to data acquired by financial news portal Finbold, between October and January, the number of Bitcoin addresses holding over $1 million has reduced by 28,186 or 24.26 per cent.

In general, the Bitcoin-rich list has plunged over the last three months.

"Wallets holding over $100,000 have dropped 30.04 per cent from 505,711 to 353,763. The number of addresses with $1 million and above dropped 23.5 per cent from 105,820 to 80,945. Wallets holding over $10 million and above also registered a drop of 32.08 per cent from 10,319 to 7,008," the report mentioned.

The drop in the Bitcoin rich list correlates with the asset's volatility that has been heightened in recent weeks.

"A combination of factors such as regulatory scrutiny, turbulent markets, geopolitical unrest, and Covid combined with having an adverse effect on the asset's performance. However, despite the volatile start to the year, a number of analysts continue to laud the asset as a hedge against rising inflation," the report elaborated.

Due to the rapid decline in the value of Bitcoin since the start of the year, the number of liquidations has also increased in recent weeks, with $372 million in long positions in the perpetual market across all exchanges being liquidated in only one day, January 22.

"Given the anonymous nature of the world's most valuable digital asset, it is difficult to identify the individuals who possess the addresses in question," the report said.

Bitcoin, along with other digital cryptocurrencies, has crashed to its lowest levels and the continuing meltdown has wiped out over $1 trillion from the global crypto market value.

The crypto crash came as the US Federal Reserve raised the possibility of boosting interest rates as soon as March and withdrawing stimulus from the market.

(IANS)

Arunachal CM Meets PM Modi; Lauds Passage Of Women's Reservation Bill

by Pabitra Mohan Senapaty

New Delhi, Sep 22: Arunachal Pradesh Chief Minister Pema Khandu on Friday called on Prime Minister Narendra Modi in the national capital.

The PMO posted on X: "Chief Minister of Arunachal Pradesh, @PemaKhanduBJP, met Prime Minister @narendramodi."

Khandu congratulated the Prime Minister for the historic passage of Nari Shakti Vandan Adhiniyam (Women's Reservation Bill) in both houses of Parliament, making reservation for women in Lok Sabha and state assemblies a reality.

In a social media post, Khandu said that with this landmark transformative reform, now women will have representation in the highest decision-making bodies in greater numbers.

The Arunachal Chief Minister said that he was truly indebted to PM Modi for his bold move towards women empowerment.

Read More: Parliament Passes Women's Reservation Bill After RS' Unanimous Nod

Khandu also said that he had an enriching discussion with the Prime Minister on various development matters of Arunachal Pradesh.

(IANS)

Gill, Gaikwad, Rahul, Suryakumar Slam Fifties; Guide India To 5-Wicket Win Over Australia

by Pabitra Mohan Senapaty

Mohali, Sep 22: Shubman Gill and Ruturaj Gaikwad hit fifties at the top, followed by captain KL Rahul and Suryakumar Yadav notching up half-centuries in guiding India to five-wicket win over Australia in the ODI series opener, here at PCA Stadium on Friday.

After veteran fast-bowler Mohammed Shami bagged the second five-for of his ODI career and propelled India to bowl out Australia for 276, the pitch seemed to have eased out a bit in the second innings, making the path of taking a 1-0 lead easier for the hosts.

In the chase, Gill and Gaikwad combined to share a stand of 142 runs for the opening wicket. Gill, playing his first international match at home, made 74 off 63 balls while Gaikwad scored 77-ball 71, also his first ODI fifty.

After the duo followed by Shreyas Iyer and Ishan Kishan fell, Rahul stepped up under pressure yet again, scoring a 63-ball 58, with four boundaries and a match-winning lofted six to seal a clinical win with eight balls to spare.

What would have greatly pleased the team management was the restraint in shot-selection and calmness in the situation shown by Suryakumar, while making a 49-ball 50, a much-needed third half-century in the format to ease questions on his 50-over adaptability.

More to follow…

Brief Scores: Australia 276 (David Warner 52, Josh Inglis 45; Mohammed Shami 5-51, Jasprit Bumrah 1-43) lost to India 281/5 in 48.4 overs (Shubman Gill 74, Ruturaj Gaikwad 71; Adam Zampa 2-57, Pat Cummins 1-44) by five wickets

(IANS)

TN Man Beheads Wife’S Paramour, Places Head In Front Of Her House

by Pabitra Mohan Senapaty

Chennai, Sept 22: In a shocking incident, a man in Tamil Nadu' Tenkasi district beheaded a person suspected to be having an affair with his wife, and then travelled to his wife’s residence in Tuticorin district with the severed head which he placed in front of her house.

The gory incident took place on Thursday evening.

The accused, S. Velusamy, has been arrested by the police. The deceased has been identified as Murugan, who was a farmer and lived near the residence of the accused at Kannadikulam in Tenkasi district.

The police said that Velusamy is married to Esakkiammal from Rajaputhukudi in Tuticorin district. Esakkiammal had an affair with Murugan, who stayed close by.

Nearly 30K Bitcoin millionaires wiped in last 3 months

Download Mobile App