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It was revealed that India has topped the global cryptocurrency adoption rate over the past year, overcoming regulatory issues. According to a report published by the blockchain analysis platform Chainalysis on the 18th, the Asia and Oceania region recorded about $750 billion (about 1,029.225 trillion won) in capital inflows to the cryptocurrency market over the past year, and India led this capital inflow. India imposes a 30% capital gains tax and a 1% withholding tax on cryptocurrencies, imposing a total tax of about 31% on cryptocurrencies, and has banned the use of 9 foreign exchanges including Binance and Kraken within the country.
2. US Bitcoin Spot ETF records net inflows for 4 consecutive days... Cumulative net inflows record 28 trillion won
Bitcoin (BTC) spot exchange-traded funds (ETFs) in the United States recorded net inflows for 4 consecutive days until the 16th, recording cumulative net inflows of $202 billion (about 27.7204 trillion won). According to a report by financial data platform Factside Investor on the 17th, the net inflows of a total of 11 Bitcoin spot ETFs in the US from the 11th to the 17th were about $1.64 billion (about 2.2506 trillion won).
3. Ripple CEO "IPO is not the top priority now... Expected to take 1 year"
In an interview with Thinking Crypto on the 17th, Ripple CEO Brad Garlinghouse explained that Ripple is not currently prioritizing an initial public offering (IPO), one of its existing plans, due to the actions of the US Securities and Exchange Commission (SEC), which is hostile to Ripple. He said that in addition to the IPO, which requires SEC approval, Ripple has other means of raising funds, and it could take more than a year for the IPO.
4. Bitcoin mining profitability hits a new high in 2 months
The "hash price," which represents Bitcoin's mining profitability, recorded about $53.64 on the 17th, breaking the previous all-time high recorded on August 23. According to the Bitcoin Hash Rate Index, the hash price fell to $40 in September, but has surged recently along with the rise in Bitcoin's price.
5. VanEck "Ethereum could fall due to the activation of Layer 2"
Matthew Sigel, head of digital assets at VanEck, predicted that the price of Ethereum (ETH) could plummet due to the activation of Ethereum Layer 2 networks. Sigel pointed to the recent activation of Ethereum Layer 2 networks on his X account on the 17th, explaining that the imbalanced revenue structure between Ethereum Layer 2 networks and Ethereum could significantly reduce Ethereum's revenue.
Reporter Kwon Seung-won ksw@
