India’s Wealthy Are Piling Into Crypto, and Exchange Data Proves It

Key Points

1. Indian exchanges like CoinDCX, CoinSwitch, Mudrex, and ZebPay have seen a surge in HNI and family office participation, with Mudrex reporting a 30% weekly increase in HNI trading volumes.

2. CoinDCX noted a 25-30% month-on-month rise in average trade size from high-value clients, with nearly half of its total trading volume from January to June coming from over 3,500 HNIs and institutional investors.

3. Investors are shifting focus from 'Why crypto?' to 'How much should we allocate, and where?', showing interest in assets like Bitcoin, Ethereum, Solana, and meme coins.

4. Retail investors are also re-entering the market, with CoinDCX's daily volume rising from $9.17 million in June to $12.82 million in early July, and Mudrex seeing spot trading volume more than double.

5. U.S. legislative progress, including the signing of The Genius Act, has boosted global investor confidence, further encouraging Indian investors to increase crypto allocations.