While the Indian government is working towards understanding the blockchain technology and the cryptocurrency market, the citizens have a growing keen interest in cryptocurrency adoption. As per data collected by news publication Bitcoin News, here are five preferred cryptocurrencies by Indians.
— Bitcoin News (@BTCTN) March 9, 2019
Well, this comes as no surprise, after all the foremost cryptocurrency has it’s very own loyal fan following, even in India. Notably, BTC was the third most-traded cryptocurrency in 2019. As for India, it is highly traded on Indian exchanges in the likes of Wazirx, Coindcx, and Instashift.
Wazirx’s traded about an estimated $6.5 million worth of BTC between January 1 and March 7, while Coindcx contributed a trade of around 792 BTC. Instashift’s BTC Trade recorded for 77.76% of its total buy volume and 67.58% of its total sell volume.
At the press time, BTC was stable at $3,937.97, with a market cap of $69.34 billion and the 24-hour trading volume was $10.70 billion. In Totality, BTC has experienced a spike of more than 4.28% its $3,742 price point at the beginning of the year.
The second largest coin according to market cap, gladly took the second most-traded coin position on Wazirx. ETH observed transactions worth $2 million between January 1 and March 7. It was placed fourth on Instashift’s most-traded token list but failed to make a mark in the top- five coins by trading volume on Coindcx and Bitbns.
With a value of at $138.01 at press time, ETH holds a market cap of $14.51 billion and a 24-hour trading volume of $4.89 billion.
XRP managed to hold a position in the top five coins with large trading volumes across various Indian exchanges – Wazirx, Coindcx, Instashift, and Bitbns.
With nearly $2 million worth of XRP being traded, Wazirx crowned the third largest cryptocurrency on CoinMarketCap as the third most-traded cryptocurrency on its platform. Between January 1 and March 7, 456 BTC worth of XRP were traded on Coindcx, earning the token the fourth most-traded title.
As for Bitbns and Instashift, XRP was the most-traded and the second most-traded token respectively. Bitbns observed 9.31% of total buy volume and Instashift experienced 9.74% of the exchange’s total sell volume.
XRP was valued at $0.3160 at press time, with a market cap of $13.09 billion and 24-hour trade volume of 756.36 million.
With around $1.7 million of TRX on Wazirx and 423 BTC worth of the coin traded on Coindcx, TRX swifty sails in the top-five most traded coins category.
At the press time, TRON was valued at $0.022699, with a market cap of $1.51 billion. The tenth largest coin according to market cap, registered a 24-hour trading volume of $161.27 million.
BitTorrent Token [BTT]
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