Indian crypto exchange WazirX registers $36-bn trading in a year

Indian crypto exchange WazirX on Friday said that it facilitated trading volume worth over $36 billion in the past 12 months, with a month-on-month growth rate of 44 per cent. The platform also saw its user base grow ten-fold in 2021 to 10 million

With the growing popularity of crypto in India, the platform recorded a whopping 2,648 per cent growth in user signups from Tier-II and Tier-III cities along with massive adoption by women, especially from tier-2 and -3 cities in India.

The company recently launched a non-fungible token (NFT) marketplace, recording NFT sales worth 2,05,126.66 WRX or Rs 2.4 crore. WRX is the native crypto token floated by the WazirX platform. Its NFT platform has a creator-to-collector ratio of 1:53, with a total of 737 creators and 481 collectors at present.

The Indian cryptocurrency market is expected to reach up to $241 million by 2030 in India and $2.3 billion by 2026 worldwide. According to a report by the IT industry’s apex body Nasscom, there are 15 million retail investors in India investing in the cryptotech space.

The global cryptocurrency market had hit the $3 trillion mark for the first time this week, taking the value of Bitcoin and Ethereum to an all-time high.

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