The cryptocurrency industry in India is enjoying huge increases. New traders have been flooding crypto exchanges,
Executives of such platforma also share their views on what influences the Indian crypto market growth, current traders' sentiments, and the institutional interest in crypto in India.
Major Updates
- India exchanges record primary growth volumes of new crypto traders.
- Four CEOs talk about factors driving India's Crypto Market growth.
Cryptocurrency exchanges in India record numbers of new users signing up on their platforms, followed by significant rises in trading volumes.
Sathvik Vishwanath, CEO of Unocoin, one of the oldest crypto exchanges in India, told news.Bitcoin.com last week: "We are seeing about 2.5x the number of customers signing up for the service right now compared to September." He added that Unocoin has recently "expanded from brokerage to a full-fledged exchange."
Over at Wazirx, "New user registrations have grown by 125%," and "Monthly trading volume has increased by 225%," said CEO Nischal Shetty.
Bitbns CEO Gaurav Dahake is experiencing a similar pattern, sharing that trading volumes on his exchange have risen by 200 percent over the last year. Besides, "daily user registrations have increased by 800 percent" after the Indian Supreme Court lifted the banking restriction in March.
Meanwhile, Coindcx CEO Sumit Gupta stated, "his exchange saw an overall annual growth of 235.82 percent in signups compared to the previous year, noting that his platform "saw 4x growth in active daily users" in the third quarter.
What do you think about how quickly India's crypto industry is growing? Please let us know in the comments section below.
