Bitcoin Trading Volume In India Accelerated To 85 from 7 BTC In Last 1 Year

Bitcoin — the largest cryptocurrency by market cap, which shot past $20,000-price mark per Bitcoin in 2017 during Christmas, got a huge spike in it's trading volume in India despite of regulatory uncertainty and banking restrictions imposed by the Reserve Bank of India (RBI).


Indian Crypto Trading Volume Accelerated To 85 BTC from 7 BTC In Last 1 Year
Indian Crypto Trading Volume Accelerated To 85 BTC from 7 BTC In Last 1 Year

In the past, several Crypto Exchange had to shut down their operation in India due to banking restrictions & other regulatory instructions perhaps data from the P2P marketplace reflects the significant rise in the trading volume of Bitcoin (BTC) which certainly shows Indian are buying & selling their Bitcoin In INR.


According to sources, Paxful has reported steady growth on it's peer-to-peer (P2P) platform in the Bitcoin trading in INR. Last year, only 7 BTC were traded in the week ending Oct 27 however this year, 85 BTC were traded in the week ending Oct 26. Competing P2P platform LocalBitcoins reported 146 BTC traded in the week ending Oct 26 this year compared to 143 BTC traded in the previous week.

Nischal Shetty, CEO of Indian crypto exchange WazirX is also seeing a tremendous growth in it's traffic, traders & volume on their platform. He further shared the top coins traded on their exchange are BTCETHXRPTRXLTCXLM, MATIC, BCH, BAT, and BTT.

Sumit Gupta, CEO of Indian crypto exchange Coindcx, believes that “Trader sentiment has considerably improved in India, mainly because of the market reversal,” he told news.Bitcoin.com on Monday. “At last he said, change in market sentiments brought an inflow of new traders and hodlers.”


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