Indians hike crypto holdings as market soars

Top Indian Bitcoin exchanges are recording an over 100% increase in trading volumes in the last few days even as the value of the digital currency continued to soar with a single Bitcoin trading over the $66,000 mark on Thursday, buoyed by US regulatory permission for an investment vehicle allowing trade in Bitcoin futures granted earlier on Wednesday.

In India, this has prompted crypto investors to expand their holdings in anticipation of further gains, industry executives said. Mumbai-based exchanges WazirX — which notched up a 167% jump in trading volumes — and CoinDCX, which recorded a 200-300% hike, are leading the rally. While Delhi-based BuyUCoin clocked a 130% increase, and Bengaluru’s Coinswitch Kuber has seen a 100% jump since Wednesday.