Indian Crypto Boom: New Traders Flood Exchanges

The Indian cryptocurrency industry is experiencing massive growth. New traders are flooding crypto exchanges. What drives the Indian crypto market, current traders sentiment, and institutional interest in crypto in India？

Cryptocurrency exchanges in India are seeing record numbers of new users signing up on their platforms, accompanied by huge surges in trading volumes.

Over at Wazirx, “New user signups have grown by 125%” and “Monthly trading volumes growth has increased by 225%,” CEO Nischal Shetty revealed.

He elaborated that “Several Indians have lost jobs, and this has led them to invest in cryptocurrency to earn side income by becoming traders, technical analysts, or crypto influencers.”

“What I‘m seeing is, people are now taking notice of crypto,” Shetty detailed, emphasizing that “bitcoin is a digital asset which is not limited to any country, or entity, but available to anyone around the globe. Most people you see would actually like to have bitcoin in their portfolio because it’s a future asset.” Furthermore, he noted that bitcoins price shooting up is an important factor.