BENGALURU: With increasing adoption of cryptocurrency, women are now representing 20 per cent of crypto exchange CoinDCX’s HNI (high net-worth individual) customers.
With 28.3 per cent, Delhi, Lucknow (19.16 per cent), and Hyderabad (16.5 per cent) are driving this trend, with ETH, BTC, MATIC, and DOGE, among their preferred tokens, says the crypto exchange in its Annual Report for 2024.
The report highlights a significant shift in investor behaviour and how cryptocurrencies are widely being used in tier-2 cities as they accounted for 40 per cent of nationwide crypto activity. Delhi and Mumbai led with a combined 22 per cent.
With over half of investors now holding Bitcoin and Altcoins in their portfolios, the exchange points out that Indian crypto traders are maturing, becoming more strategic in their asset allocation, and embracing the transformative potential of digital assets.
From its all-time high of USD 1,07,000 last week, Bitcoin (BTC) has been fluctuating and on Monday it fell to about USD 96,056.
CoinDCX said that about 51.5 per cent of investors’ portfolios are now held in BTC, and Altcoins, indicating a strong shift toward long-term investment strategies. Altcoins lead with a 34.5 per cent allocation, driven by rising confidence in projects like DeFi, Layer 2 solutions, and decentralized applications. Interestingly, there has been a 253.33 per cent surge in SIP adoption.
The crypto exchange also said that post-US election, which is from November 5 to December 10, investments in crypto climbed to USD 1.2 billion in just 34 days, with a daily average of USD 35.3 million. Between January 1 and November 5, total investments reached USD 2.94 billion, averaging USD 9.5 million daily.
Tokens like SUI (374.30 per cent) and DOGE (338.60 per cent) led gains among assets with valuations exceeding USD 10 billion. Emerging tokens such as Popcat surged by 14,844 per cent, underscoring the dynamic nature of the market, it pointed out.
Sumit Gupta, Co-founder of CoinDCX, said, “This year’s data demonstrates not just the resilience of the crypto market but also the increasing confidence of investors who are building balanced portfolios for long-term growth. This transformation fuels my confidence in the future of digital assets and their role in reshaping global finance."
Looking ahead, the crypto and Web3 industry is set for a pivotal transformation as in 2025, a wave of IPOs from U.S.-based crypto and Web3 firms is expected to reshape the landscape by enhancing transparency and attracting institutional investors, the exchange said.
"Similar to the tech IPO boom of the early 2000s, these IPOs will likely draw significant capital inflows, positioning crypto as a more mainstream asset class," it added.