Crypto Trading Report India: Crypto Trading Reaches 10-Month High In India

Crypto Trading Report India: The Bull Run In Bitcoin We Saw Has Changed Investor’s Mindset About Crypto. In India, The Crypto Trading Records Bitcoin Shows 10 Month Of High This Will Attract Newcomers To Join Crypto market.

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According to The data shared by Crebaco trades on Indian exchanges CoinDCX, WazirX, and BitBNS hit $2.6 million, $3.4 million, and $7.8 million, This Will be Much Higher Than July 2023. Crebaco Is A Cryptocurrency research firm That Shares Insights And Data About Crypto Trading.

But if We Turn To The Highest Then We Saw This Is Very Lower Than This. In 2021, The Highest Traded Crypto Is Bitcoin.

In India, The Government Taxes The Crypto. This Will Help To Regulate The Cryptocurrency And the Government Imposing A Tax Of 30% On Crypto Trading—Will Affect Crypto Trading Volume.

Read Also: AMA (Ask Me Anything)

Crypto Trading Report India

The Report Said That In the Last Three Months, The Deposits Increased By 80 Percent, Compared To Last Three Months, Total Transaction Increased By 100 percent. There Was Also an Increase In The Sign-ups On The Platforms.

Bitcoin is currently trading at $65,000 — around six percent lower than its all-time high reached in November 2021. The Indian crypto market is experiencing a high, riding the wave of Bitcoin rally. This surge is largely driven by growing institutional interest.

BlackRock’s iShares Bitcoin Trust, for example, has accumulated close to a staggering $10 billion in AUM (assets under management) in just seven weeks. The launch of Bitcoin ETFs has been a game-changer, allowing traditional investors to access the crypto through familiar channels. This wider accessibility is likely contributing to the overall excitement, said Sumit Gupta, co-founder of CoinDCX.

The surge in cryptocurrency demand is driven by new exchange-traded funds purchasing it at a rate far surpassing the willingness of long-time holders to sell their Bitcoin. The largest cryptocurrency by market value has gained 50 per cent this year and most of the rise has come in the last few weeks when inflows into US-listed bitcoin funds surged. This bull run is expected to sustain as Bitcoin goes through a halving cycle in April, which could potentially increase the demand as well as the price for Bitcoin even further.

Article Source: Livemint

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