New Delhi: WazirX, the Bengaluru-based crypto exchange said in a report that it has cloaked cryptocurrency trading volume over $43 Billion in 2021. The most traded cryptocurrencies in this exchange were Bitcoin (BTC), Tether (USDT), Shiba Inu (SHIB), Dogecoin (DOGE), WazirX Token (WRX), and Matic (MATIC).
Binance-based WazirX report titled, “Highlights & Observations From 2021: The Year Of Crypto,” stated that the exchange platform has crossed a user base of 10 million.
According to the survey conducted on the same topic by WazirX stated that 51% of the respondents admitted participating in crypto-based recommendations from friends and family, initially.
Besides, 44% of the respondents stated that crypto comprises up to 10% of their overall investment portfolio.
Interestingly, female traders were up in number by 1009% whereas 829% growth was recorded in the growth of male traders. The report suggested that women participated in trading Bitcoins more, whereas, men traded Shiba Inu. Besides, trading and investment in crypto saw a demographic shift where 66% of WazirX users were below 35 years of age.
On the other hand, 54% of the respondents stated that they would be interested in opting for a career in the crypto space, with Entrepreneurship, Finance, and Business Development as the top career choice.
The report suggested that the crypto also witnessed a trend in participation from beyond metro and Tier-I cities. Also, around a 700% increase was witnessed in the participation from smaller cities like Guwahati, Karnal, Bareilly.
Besides, the WazirX NFT marketplace has allowed more than 962 creators to mint 12,600 NFTs and sell over 5267 of them priced over 262,896 WRX (₹2.4 Crores INR) in 2021 to date.
The Mvmnt Collections, Crypto Karadi Collections, Krypto Monks & MetaVassi Collection – Abhishapes, Yash Shyte – Cyber Mythics, Milanzart – Cyber Skull Force Collection are some of the top trading NFTs. With the Metaverse apps becoming the mainstream, WazirX expects an influx of applications in DeFi, NFTs, GameFi, which will enable the users to own their data and earn the virtual currency.
“The audience is evolving and recognizing crypto as an emerging alternative asset class. The government’s impetus towards a regulated approach for crypto would put India on the world map with other developed countries dealing in crypto. This, coupled with strong institutional participation in crypto would go a long way in paving the future of this popular asset class in India and helping us become Atmanirbhar Bharat,” said Nischal Shetty, CEO of WazirX.
