Cryptocurrency trading platform WazirX on Thursday said its trading volume surged a whopping 1,735% year-on-year to over $43 billion in 2021.
This stupendous growth comes on the back of prices of bitcoin, the most popular cryptocurrency, and other digital tokens seeing a massive rally in the last one year.
Highlighting the demographic break-up of its userbase, WazirX said 66% of its total users are below 35 years of age. Number of new female users increased by 1,009% vis-à-vis an 829% growth recorded in an increase in male sign-ups during this year, the company said.
“There was also a 700% increase in the number of participants from smaller cities like Guwahati, Karnal, Bareilly, thereby signalling the growing interest from rural and semi-urban areas,” WazirX said in its statement.
Amid the non-fungible tokens (NFTs) rage, WazirX NFT Marketplace also witnessed huge participation as over 962 creators minted 12,600 NFTs and sold over 5267 of them worth over 262,896 WRX (about ₹2.4 crores) in 2021 so far.
“The audience is evolving and recognizing crypto as an emerging alternative asset class. The government’s impetus towards a regulated approach for crypto would put India on the world map with other developed countries dealing in crypto. This, coupled with strong institutional participation in crypto would go a long way in paving the future of this popular asset class in India and helping us become Atmanirbhar Bharat,” said Nischal Shetty, CEO, WazirX.
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