According to data by ZebPay, the first crypto exchange in India, Shiba Inu (SHIB), Polygon (MATIC) and Bitcoin (BTC) are the most frequently traded cryptocurrencies in the country.
In particular, the data shows Shiba Inu (SHIB) as the leading asset, especially since October’s price surge.
Moreover, another leading crypto exchange in India, WazirX, also states Shiba Inu as one of the most frequently used coins. Only at WazirX, the second place is reserved for SHIB’s counterpart, Dogecoin.
Interestingly, the report by WazirX shows that both men and women have different preferences when it comes to crypto trading. Specifically, men are more likely to trade with Shiba Inu, while the female population prefers bitcoin.
Consequently, as a result of an increase in popularity, WazirX reports a whopping 1.735% increase in trading volume. And this is in direct relation to the 130% increase of new WazirX users in 2021.
With the numbers showing millennials comprising the majority of the new users.
That is why the CEO of ZebPay, Avinash Shekhar, states that this is only the beginning, and that crypto is still in its early stages.
And that it doesn’t seem like things will slow down in the upcoming 2022. Adding that even governments around the world are starting to accept and use the asset.
The situation with cryptocurrencies in India is quite baffling. While the world waited for the Indian government to pass the anti-crypto bill, things changed overnight and the country simply delayed the Parliament discussion for later in 2022.
Which is why this report about the most frequently traded cryptocurrencies in India is really a good indicator about the public opinion on the matter.
So, it looks like, despite the government pressure, the people of India are really into crypto. Especially the youth. This may just be one of the reasons why the Indian government decided to push this rather important matter further down on its agenda.
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