Crypto trading in India witnessed a significant surge in the last quarter of 2024, with volumes hitting $1.9 billion due to increasing interest from investors in smaller cities.
Trading Volume Growth
Crypto trading volumes in India soared to $1.9 billion in Q4 2024, more than doubling from the previous quarter.
Reasons for Interest Spike
Tighter stock market regulations and growing curiosity about cryptocurrencies have drawn more traders toward crypto investments. Leading crypto exchanges noted that young Indians, previously engaging in stocks and derivatives, now see digital assets as an alternative.
Future Prospects for Crypto Market
Despite high taxes and regulatory uncertainties, India's crypto market is projected to exceed $15 billion by 2035. Major US-based crypto exchanges are keenly observing this trend and are strategizing post previous bans and restrictions.
The rapid growth of crypto trading in India highlights the increasing interest in digital currencies among retail investors seeking alternative income sources. Regulatory changes could significantly impact the market's future direction.
