Coinbase News: Secures Approval to Re-enter India’s Crypto Market

Coinbase, one of the leading cryptocurrency exchanges globally, has recently received approval to offer digital assets trading in India. Here’s a closer look at this significant development and its implications for the crypto market in India.

Coinbase Receives Approval to Offer Crypto Trading in India

Coinbase has secured approval to offer digital assets trading in India, bringing it a step closer to re-entering one of the world’s largest crypto markets. The exchange aims to launch crypto trading services in India later this year. Coinbase first entered India in 2022 but withdrew a year later due to regulatory hurdles. John O’Loghlen, Coinbase Regional Managing Director for APAC, praised India’s developer community and entrepreneurial energy. Local regulators and policymakers are re-evaluating more restrictive attitudes toward digital assets amid a broader pro-crypto shift.

Whales Accumulate 65,000 Bitcoin Despite Market Uncertainty

Over the past 30 days, Bitcoin (BTC) whales have acquired more than 65,000 BTC, signaling sustained buying pressure despite the broader market correction. The Coinbase premium is forming higher lows, even as the price trends lower, adding complexity to market sentiment. CryptoQuant community analyst Caueconomy highlighted on-chain data indicating that whales, excluding miners and exchanges, have steadily increased their Bitcoin holdings since February. This accumulation pattern resembles previous sustained buying pressure observed between November and December. While short-term price action remains volatile, the continued absorption by large entities suggests that supply is being removed from the market at a consistent rate.