Latest news with #CoinSwitch
Economic Times
4 days ago
- Business
- Economic Times
Crypto price today: Bitcoin steadies near $119K; Dogecoin, Solana jump up to 7%
Tired of too many ads? Remove Ads Crypto TrackerPowered By TOP COINS TOP COIN SETS BNB 65,973 ( 2.36 %) Buy Ethereum 3,25,977 ( 2.18 %) Buy XRP 305.33 ( 1.33 %) Buy Bitcoin 1,02,40,751 ( 0.75 %) Buy Tether 86.33 ( 0.18 %) Buy Tired of too many ads? Remove Ads Popular in Markets 1. Crypto sector breaches $4 trillion in market value during pivotal week Bitcoin held steady near the $119,000 mark on Monday, supported by institutional inflows and resilient of 2:58 pm IST, the world's largest cryptocurrency was trading 0.6% higher at $118,826. Ethereum gained 1.9% to $3,774, marking its highest level in seven months and drawing investor attention amid signs of rotation from Bitcoin to broader crypto market reflected a strong risk-on tone, with Solana jumping 5.8%, Dogecoin 7.3%, Cardano 4.1%, and Avalanche up 3%. XRP rallied 1.7% to $3.54 after hitting a fresh all-time high, while BNB, Stellar, Chainlink, Hyperliquid, Hedera, and other altcoins registered solid gains between 2% and 3.2%."A new momentum is building in crypto markets, with Ethereum clearly taking the spotlight," said Riya Sehgal, Research Analyst at Delta Exchange. 'Driven by historic spot ETF inflows and increased corporate treasury interest, ETH has outperformed Bitcoin significantly. This divergence is reshaping market structure.'Sehgal noted that Bitcoin dominance has fallen to 61%, down more than 6% in the past month — a potential early sign of an emerging altcoin season. Rising weekly option premiums and expanded trading ranges in Ethereum also reflect heightened trader to CoinSwitch Markets Desk, Bitcoin is currently trading around $118,900 and remains within a triangular consolidation pattern. 'BTC is testing a key resistance trendline that has capped its upside near $123K. While the coin remains in a range, capital is rotating toward ETH and other altcoins, which are showing stronger momentum,' CoinSwitch analysts firm added that macroeconomic pressures, particularly signs of strain in the U.S. housing market, could add to market volatility. A recent study showed that half of the top 50 U.S. metro areas reported year-over-year home price declines in June, compared to just seven in November 2024 — hinting at weakening consumer the near-term consolidation, several analysts maintain a bullish outlook on Bitcoin. Srinivas L, CEO of 9Point Capital, believes BTC remains well-positioned for an eventual breakout. 'Strong ETF inflows and improving macro sentiment support upside potential. If the current range holds, we expect a move toward $127K and beyond.'Unocoin CEO Sathvik Vishwanath echoed this view, citing technical indicators such as the golden cross as supportive of continued bullishness. 'Bitcoin is transitioning into a mature store-of-value asset,' he said, pointing to rising institutional adoption and favourable regulatory developments in the U.S. 'Short-term targets remain in the $125K–$130K range, with some forecasts eyeing $180K–$250K by year-end if momentum holds.'(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
4 days ago
- Business
- Time of India
Middle-class salary a scam? CoinSwitch founder calls out the illusion behind flights, phones, and quiet financial stress
Tired of too many ads? Remove Ads How people reacted? The Indian middle class has long been celebrated as the engine of growth — aspirational, resilient, and quietly holding up the country's consumption story. But beneath the surface of smartphones, air travel, and EMI-backed lifestyles, a deeper crisis is a sharp and sobering take, CoinSwitch cofounder Ashish Singhal calls out what he terms 'the biggest scam no one talks about' — the slow, silent, and systematic erosion of middle-class financial biggest scam no one talks about?Middle-class the past 10 years:- The group earning under ₹5L saw a 4% CAGR- ₹5L–₹1Cr income group has seen just 0.4% CAGR- Food prices? Up nearly 80%- Purchasing power? Cut almost in half- But spending? Up, funded by creditThis isn't a a well-dressed still flying once a buying a paying you're also skipping the the doctor the mental math in every Zomato AI is quietly threatening white-collar jobs- Political attention stays on welfare funding- The ultra-rich have grown 7x in a decadeThe poor are being rich are middle class is just expected to absorb the shock, in complaints. No bailouts. Just inflation, EMIs, and quiet time we start talking about this groupNot as a vote bank or a spending class,But as a segment that's powering the economy, yet getting squeezed out of you think it's just an income issue, or even a money management issue?"This is not just India, but a global phenomenon. The middle-class salary crisis isn't just India's problem. It's hitting even the developed nations. Sometimes, I wonder, what will come at the extreme of it?If this isn't addressed soon, it will lead to reduced consumption from the Middle-class. The middle class in India (and globally as well ) is a key driver of all consumption, contributing significantly to all economy and the value of "The money". Reduced consumption from the middle class could slow economies, weaken currencies, and even dent the ultra-rich's wealth. The middle class drives growth. That money won't matter if the economies collapses and then currency loses it's value as a chain reaction.I have even been thinking of a solution for this problem. ( I am so unemployed, I have nothing better to do... ).I feel the rich shouldn't be so selfish and greedy about the money, rather give out most of the wealth, Embracing the `effective altruism`. I am not saying people shouldn't scale and grow more revenue. I am saying "Earning to give". If the rich could embrace 'earning to give,' sharing wealth to stabilize the system for the collective good. It could fix this issue. But who we are kidding?" said one user.
Time of India
16-07-2025
- Business
- Time of India
Can India make filing taxes as easy as a phone recharge? CoinSwitch's Ashish Singhal thinks it should
Ashish Singhal , co-founder of CoinSwitch , has called out a reality check for India's salaried workers and startup employees. Many are shifting to the new tax regime , enjoying more take-home pay. But Singhal asks if this extra cash is building better discipline or just giving people more room to delay the annual tax scramble. 'Only 6.7% of Indians filed ITRs last year,' Singhal wrote in a LinkedIn post that's got people talking. 'Even among those who want to comply — salaried folks, startup employees — filing is often treated as a last-minute emergency.' Explore courses from Top Institutes in Select a Course Category Artificial Intelligence Public Policy Design Thinking MBA Management Operations Management Product Management healthcare CXO MCA Cybersecurity Data Science Data Analytics Degree Digital Marketing Leadership Healthcare Finance Others Technology Project Management Data Science others PGDM Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Exec Cert Prog in AI for Biz India Starts on undefined Get Details India's tax system has come a long way. There are smoother online portals now, simpler forms and digital payment options. All this should make tax filing easier than ever. But for many, it's still a once-a-year panic. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas Prices In Dubai Might Be More Affordable Than You Think Villas In Dubai | Search Ads Get Quote Undo Singhal summed it up well: 'Deadlines shift. Habits don't.' He believes India's low digital tax participation is a blind spot. 'Low digital tax-participation is a blind spot. The system's getting smarter, but not easier,' he said. Live Events Millions wait until the last week of July to hunt for documents, receipts and old bank statements. It's become a ritual. Newer tools help, but convenience still hasn't caught up with intent. The new regime's bigger promise Under the new tax regime, people keep more of their money. But does it lead to better planning? Singhal is not so sure. He asked, 'As users get more liquidity under the new tax regime, are we helping them build financial discipline or just giving them more runway?' His warning is clear. Unless this extra liquidity is paired with better habits, it risks being wasted. Bigger pay slips mean nothing if the same old scramble continues every July. Beyond pop-ups and reminders For Singhal, the answer is not another flood of ads, SMSes or 'file now' push notifications. He wants smarter systems that weave tax planning into daily life. 'We don't need more 'file now' reminders. We need infra that builds tax planning into everyday finance,' he wrote. Small nudges can help people stay ahead of deadlines. Singhal wants tools that remind people to collect paperwork early, fill out forms automatically and flag mistakes. He explained, 'We need tools that auto-remind, pre-fill, and validate. Nudges that turn filing from a chore into a habit. Products that treat tax compliance as a core loop, not a checkbox.' One comment under his post captured the mood. 'Imagine if AI could turn tax filing into something as easy as paying for groceries. Isn't that the future we want?' Tax season is once, money planning is daily Singhal's message is simple. Tax deadlines may come once a year. But managing money is daily work. 'Tax season comes once a year. Financial planning? That's every day,' he said. If India wants more people to file tax returns on time, the system must feel as normal as paying a phone bill. Routine, quick and not a source of stress. As more Indians move to the new regime, Singhal's question remains: Will this extra cash help people build better habits? Or will it just push the rush to next July, yet again?
Economic Times
16-07-2025
- Business
- Economic Times
Bitcoin holds near $118,000 after recent rally; Ethereum, Dogecoin surge up to 6%
Bitcoin held steady near the $118,000 mark on Wednesday, as traders took stock of a recent rally and shifting institutional dynamics. As of 11:18 am IST, the world's largest cryptocurrency was trading 0.7% higher at $117,985. Ethereum surged over 6% to $3,144, leading gains among top altcoins. ADVERTISEMENT Market watchers say the recent pause comes after Bitcoin's sharp ~33% rally over the past month, which triggered a wave of profit booking. 'BTC pulled back around 5%, trading near $118,000, while long liquidations exceeded $333 million,' said CoinSwitch Markets Desk in a morning note. Ethereum saw $113 million in forced exits but remained resilient amid growing optimism. 'Ethereum continues to attract bullish sentiment, with EMJ Capital reiterating its view that ETH could reach $10,000 in this cycle, supported by staking ETF approvals, a deflationary supply model, and rising institutional interest,' CoinSwitch added. Srinivas L, CEO of 9Point Capital, believes Bitcoin's uptrend remains intact despite recent pullbacks. 'These are healthy pauses. Strong institutional demand and regulatory clarity are reinforcing the long-term bullish case. We expect BTC to consolidate above $117,000 before attempting $125K–$127K,' he said, advising investors to adopt a disciplined 'buy-the-dip' Research echoed the cautiously optimistic view. 'While bears are still active, the market sentiment remains bullish. Most altcoins are holding recent gains, and momentum could resume soon,' the team noted. Sathvik Vishwanath, Co-Founder and CEO of Unocoin, pointed to strong ETF inflows exceeding $14.8 billion this year as a major tailwind. 'With the breakout above the $110K–$123K range, we expect Bitcoin to head toward $130K–$135K. Post-halving supply shocks, possible Fed rate cuts, and regulatory progress are key catalysts. Forecasts for 2025 suggest targets as high as $150K–$200K, with long-term projections near $500K,' he said. ADVERTISEMENT Other major altcoins traded higher, with XRP and Solana rising 2%, Dogecoin gaining 4%, and Cardano adding 3%. Stellar, Sui, and Chainlink also rose between 2–4%. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) ADVERTISEMENT
Time of India
16-07-2025
- Business
- Time of India
Crypto is the new gold: Why India's rich are buying Bitcoin
As Indian equities stall, gold steadies, and fixed-income returns remain uninspiring, a new trend is emerging among the country's wealthiest investors: a growing appetite for cryptocurrencies. Tired of too many ads? go ad free now High-net-worth individuals (HNIs), family offices, and institutional players are quietly reshaping their portfolios, steering capital toward digital assets like and Ethereum, a report in the Economic Times said. The shift has picked up serious pace over the past six months, particularly after the return of as the US president. 'The mood among HNIs has changed dramatically,' Atul Ahluwalia, vice president of HNI & Institutional Investments at CoinSwitch, told the Economic Times. 'We've moved past the phase of questioning crypto's legitimacy. Now the focus is on allocation strategy—how much to invest, which tokens to hold, and what kind of custody makes sense.' From skepticism to strategy Crypto exchanges report a sharp uptick in trading volumes from India's elite. CoinDCX, for instance, says nearly half its volume now comes from just 3,500 HNIs, family offices, and institutional clients. These aren't day traders or retail speculators—they're sophisticated investors with a long view. The move isn't just about chasing returns. Many investors are also seeking exposure to blockchain-based technologies and decentralized finance (DeFi), seeing them as foundational to the future of global finance. Bitcoin's rally sparks fresh momentum Bitcoin recently broke past the $120,000 mark—a record high—delivering a staggering 90% year-on-year return. Tired of too many ads? go ad free now Ethereum and other altcoins have followed suit. This explosive performance is drawing attention at a time when traditional investment avenues offer limited excitement. Equity markets, while stable, have become expensive and volatile. Bonds are still struggling to offer attractive real returns. Gold has delivered modest gains, but its upside appears capped. In this environment, crypto—despite its volatility—is seen as a risk worth taking. 'Crypto is no longer a fringe bet for the ultra-wealthy. It's becoming a core part of diversified portfolios, especially for those looking at 5- to 10-year horizons,' notes a wealth advisor to several Indian family offices. Global winds are favorable Indian investors are also being influenced by global signals. Political developments in the US—including strong pro-crypto positions from key Republican candidates—have reignited confidence in digital assets. Bitcoin ETFs in the US have further legitimized the space and made institutional access easier. This global momentum has made its way to India, particularly among those with cross-border exposure and international holdings. Wealth managers are fielding more questions than ever about the best entry points, diversification across crypto assets, and risk management. Regulatory headwinds remain Yet, the road isn't without obstacles. India's tax policy on digital assets remains a major sticking point. A 30% capital gains tax and a 1% Tax Deducted at Source (TDS) on each crypto transaction have driven most retail investors offshore or underground. The crypto industry is actively lobbying for tax reforms, arguing that these harsh rules stifle innovation and push capital out of India. If the government softens its stance, domestic participation could surge even further. 'For now, the wealthy can absorb the tax hit. But for broader adoption, regulatory clarity and a friendlier tax regime are critical,' says a senior executive at a leading Indian exchange. (With inputs from agencies)
