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

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

Indian crypto exchange WazirX on Friday said that it facilitated over $36 billion in trading volume 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 one crore.

With the growing popularity of crypto in India, the platform recorded 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 this year, 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 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 market hit the $3 trillion mark for the first time this week, taking Bitcoin and Ethereum values to an all-time high.

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