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Sri Lanka parliamentary poll: Ruling NPP heading with absolute majority in position.

With more than 70% of the vote, the NPP easily won in Galle, the provincial capital in the south, in the only polling division result that has been made public thus far.

President Anura Kumara Dissanayake’s ruling National People's Power party is expected to win a landslide victory in Thursday's (November 14, 2024) Sri Lankan parliamentary election.

By 6 a.m. local time on Friday, November 15, 2024, the NPP had nearly 62% of the national vote, or more than 4.4 million votes. According to district-based proportional representation, they have won 35 of the 196 seats available.

With more than 70% of the vote, the NPP easily won in Galle, the provincial capital in the south, in the only polling division result that has been made public thus far.

For a simple majority in the 225-member House, the ruling National People's Power [NPP] alliance, which only held three seats in the previous Parliament, needs to secure 113 votes. Up to 196 MPs are chosen directly by voters, while the other 29 members of the House are selected from a "national list" that distributes seats to parties according to their percentage of the vote under Sri Lanka's proportional representation system. Read More…

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List of Top 3 NIT in India

According to the National Institutional Ranking Framework (NIRF) 2024, the top three NITs in India are:

NIT Trichy: Ranked 9th in the NIRF 2024

NIT Surathkal: Ranked 17th in the NIRF 2024

NIT Rourkela: Ranked 19th in the NIRF 2024 

The NIRF ranks NITs annually based on parameters such as teaching, research, graduation outcomes, and perception. 

Other popular NITs include: NIT Warangal, NIT Karnataka, and NIT Calicut. 

NITs offer undergraduate and graduate degree programs in engineering, architecture, management, and science. They are known for producing some of the best engineers and scientists in India. The standard exam for all NIT colleges in India is JEE Main. 

National Institute of Technology (NIT) Trichy

NIT Trichy, located in Tamil Nadu, is one of India’s top-ranked engineering institutions, established in 1964. Known for its excellence in engineering, technology, and management education, it offers a wide range of undergraduate, postgraduate, and doctoral programs.

National Institute of Technology (NIT) Surathkal

Founded in 1960, NIT Surathkal is located in the coastal city of Mangalore, Karnataka. It is widely recognized for its engineering programs and research contributions in fields like computer science, mechanical, and civil engineering. 

National Institute of Technology (NIT) Rourkela

Established in 1961 in Odisha, NIT Rourkela is another prestigious engineering institute known for its focus on research and innovation. It offers a variety of undergraduate, postgraduate, and doctoral programs across engineering, science, and management disciplines.

Read More…..

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Record levels of stablecoin liquidity may have sparked the price rise of Bitcoin.

Stablecoin pairs account for the majority of cryptocurrency spot and futures trading, and a rise in these pairs suggests that capital is waiting for favourable catalysts.

Before price changes in previous cycles, the stablecoin market capitalization has steadily increased to $169 billion, led by USDT and USDC.

There is evidence that there is a positive correlation between rising Bitcoin prices and increased stablecoin balances, as shown by the significant 146% increase in USDT on exchanges since January 2023.

On the Bitcoin network, both on-chain volume and large, or "whale," transactions have significantly increased.

A record number of dollar-backed stablecoins and an increase in large bitcoin (BTC) transactions could lay the groundwork for a broader BTC rally in the coming weeks to maintain the asset's bullish October seasonality.

According to CryptoQuant data, stablecoin liquidity reached a record $169 billion at the end of September, representing a 31% increase year-to-date.

Circle's USDC, whose market cap increased by $11 billion to $36 billion, and Tether's USDT, whose market cap increased by $28 billion to nearly $120 billion, continue to hold the majority of the market.

By being linked to a reference asset like the United States dollar, a commodity like gold, or another cryptocurrency, a type of cryptocurrency known as a stablecoin is designed to maintain price stability.

It is anticipated that a reserve of equivalent fiat currency will be used to back each stablecoin. An increase in the supply of stablecoins corresponds to an increase in the amount of actual fiat currency deposited into the crypto ecosystem because stablecoins are typically issued against deposits of fiat currency.

Stablecoin pairs account for the vast majority of cryptocurrency spot and futures trading. The increased liquidity of stablecoins suggests that dry powder for crypto purchases may be available.

Rising bitcoin prices are to blame for the 20% increase in the number of stablecoins held on cryptocurrency exchanges this year and in the past.

According to CryptoQuant's head of exploration Julio Moreno, "greater equilibriums of stablecoins on trades are associated with higher bitcoin and crypto costs." Since January 2023, when the current bull cycle officially began, the total amount of USDT (ERC20) on exchanges has increased by 146%.

Moreno asserts that "remarkably, these balances have grown by 20%, even as Bitcoin's price has remained unchanged."

Since the beginning of October, the data indicate that Bitcoin has lost more than 6% of its value. Since 2013, when it had gains of as much as 60% and an average of 22%, it was the best investment vehicle, this month is the first to end in the red. Since 2013, Bitcoin has only been in the red once. Bitcoin has lost more than 6% of its value since October 1st.

Prices typically rise by up to 16% after October 15, probably due to the availability of stablecoin liquidity. The general monetary and cryptocurrency policies of the next four years may be impacted by the upcoming presidential election in the United States.

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