The cryptocurrency market in India is continuously growing. Indians especially trust Elon Musk's favorite cryptocurrency bitcoin the most. That's why he has also played the biggest bet on bitcoin. The special thing is that India has adopted cryptocurrency at a much faster rate than other countries. In this respect, India has left behind countries like America and China. Let us tell you that in March 2020, the Supreme Court lifted the ban on cryptocurrency trading, which was imposed by the Reserve Bank of India. Let us also tell you what kind of report has come out in this case.
report released
In fact, blockchain data platform Chainalysis has released the Global Crypto Adoption Index 2021. In which many interesting things have come out. Vietnam is at the first position in the index and India is at number two. On the other hand, big countries like America, Britain, China have been left behind. The list of total 154 countries has been released. According to the report, the adoption of cryptocurrencies has seen an increase of 880 percent between June 2020 and July 2021. Whereas in 2019, there was a jump of 2300 percent between October and December.
India Loves Musk's Favorite Cryptocurrency
A survey was conducted in July by the American research firm Finder, in which more than 47 thousand people were included. In this survey, 30 percent of Indian users accepted cryptocurrency investment. According to Finder, bitcoin is the most popular in India. Next comes the numbers of Ripple, Ethereum and Bitcoin Cash. At the same time, India is the number one country in the world in terms of crypto remittances.
There is more interest in small towns
According to experts, there has been an increase in cryptocurrency trading in big cities as well as small towns. More interest has been seen especially in Tier-2 and Tier-3 cities. There has been a jump of 2648 percent in the number of such traders. The special thing is that even small town women have started investing in digital assets. According to data released by crypto exchange WazirX, its platform has seen 7.3 million crypto users and more than $21.8 billion in trading in the last one year.
Comments
Post a Comment