USDT Premium Surges to 10% on Indian Crypto Exchanges

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 5 days ago

JST+1.911%

MAJOR-3.85%

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USDT Price Premium: USDT reached a price of 102.88 rupees on Indian crypto platforms, commanding an 8.5% premium over the official exchange rate of 94.65 rupees, indicating strong market demand for dollar exposure that could influence investor trading strategies.
Market Dynamics Analysis: Minal Thukral from CoinDCX noted that buying pressure in the Indian market often exceeds available inventory, leading to price increases for USDT, which reflects the challenges liquidity providers face in replenishing token supplies and exacerbates market instability.
Regulatory Impact: Regulatory interventions by India's Enforcement Directorate concerning USDT transactions may have led liquidity providers to withdraw from international markets, creating supply shortages that drive up USDT's price premium, affecting the overall trading environment.
Tax Policy Effects: India's 30% taxation on cryptocurrency profits, along with restrictions on offsetting losses, makes USDT a more viable option for residents seeking dollar exposure, further driving up its price amid increasing demand.

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Technical Analysis for JST

Technical Sentiment Analysis for JUST (JST). As of , JUST (JST) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 9 technical signals, shows that 4 indicators are flashing buy, while 5 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for JST stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, JST is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

JUST (JST) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.069	0.0748	0.0815	0.0873	0.0939	0.0997	0.106
Fibonacci	0.0748	0.0796	0.0825	0.0873	0.092	0.095	0.0997

About JST

JUST is a popular new decentralized finance (DeFi) ecosystem built for the TRON blockchain. It is an entire suite of products that are mostly centered around a decentralized stablecoin lending platform known as JustStable.The platform launched in August 2020 following an initial exchange offering (IEO) on the Poloniex LaunchBase platform earlier that same year, but the native governance token of the platform (JST) has been circulating since May 2020.It is a two-token ecosystem built around the USDJ and JUST (JST) tokens. USDJ is a multi-collateral stablecoin that has its value pegged to the value of the US dollar (USD), whereas JST has a variety of functions on the platform — paying interest, helping maintain the platform and participating in its governance, helping to set parameters like interest rates (stability fees) and the minimum collateralization ratio.To obtain USDJ on JUST, traders need to deposit collateral in the form of supported collateral tokens — including TRON (TRX), which are exchanged to PTRX tokens and locked as collateral forming a collateralized debt position (CDP). Depending on the amount of collateral deposited, users can then mint and withdraw USDJ, which must later be repaid to retrieve the initial collateral.The platform is designed to provide a fair and borderless hub of DeFi products, that any TRON user can access.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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