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CoinDCX, India's largest crypto exchange, has released its Annual Report for 2024, shedding light on the dynamic evolution of the Indian crypto markets. The report highlights a significant shift in investor behavior, with a growing focus on long-term growth strategies, increased participation from women investors, and a rising wave of adoption in smaller cities. With over half of investors now holding Bitcoin and Altcoins in their portfolios, CoinDCX underscores how Indian crypto traders are maturing, becoming more strategic in their asset allocation, and embracing the transformative potential of digital assets.
Key Highlights of the Annual Report 2024
Portfolio Maturity:
51.5% of investors' portfolios are now held in Bitcoin (BTC), and Altcoins, indicating a strong shift toward long-term investment strategies.
Altcoins lead with a 34.5% allocation, driven by rising confidence in projects like DeFi, Layer 2 solutions, and decentralized applications.
253.33% Surge in SIP Adoption
392.73% increase in Earn orders
Profitability
50%+ of CoinDCX investors and traders' portfolios are in profit, highlighting strong market performance
- Growth
○ 159.65%: Increase in trading volume, reflecting heightened user activity and market momentum.
○ 366.67%: Surge in assets under management (AUM), showcasing strong investor confidence and adoption.
- Investment Trends Pre- and Post-US Election
○ January 1–November 5: Over 309 days, total investments reached $2.94 billion, averaging $9.5 million daily.
○ November 5–December 10: Post-election results, investments climbed to $1.2 billion in just 34 days, with a daily average of $35.3 million.
- Geographic Expansion:
○ Tier-2 cities accounted for 40% of nationwide crypto activity, while Delhi and Mumbai led with a combined 22%, showcasing the growing reach and democratization of crypto adoption.
- Women in Crypto:
○ Women now represent 20% of CoinDCX's HNI customers. Cities like Delhi (28.3%), Lucknow (19.16%), and Hyderabad (16.5%) are driving this trend, with ETH, BTC, MATIC, and DOGE, among their preferred tokens.
- Top Performers of 2024:
○ Tokens like SUI (374.30%) and DOGE (338.60%) led gains among assets with valuations exceeding $10 billion. Emerging tokens such as Popcat surged by 14,844%, underscoring the dynamic nature of the market.
Sumit Gupta, Co-founder of CoinDCX, said, "As we close the year, one message stands out clearly—the maturation of investors and the industry itself. This year's data demonstrates not just the resilience of the crypto market but also the increasing confidence of investors who are building balanced portfolios for long-term growth. This transformation fuels my confidence in the future of digital assets and their role in reshaping global finance. As we look ahead, CoinDCX remains committed to empowering users with secure, innovative, and accessible tools to navigate this transformative era."
The report also highlights CoinDCX's significant achievements in 2024, including:
● Product Innovation: Launch of the Decentralized Custody Wallet,Okto, enhancing user control and security.
● International Expansion: Establishing a regional hub in Dubai and acquiring BitOasis to strengthen the MENA presence.
● Educational Initiative: CoinDCX onboarded Gautam Gambhir for the 'Learn Karo. Crypto Karo.' campaign, aiming to drive investor education.
Looking ahead, the crypto and Web3 industry is set for a pivotal transformation. In 2025, a wave of IPOs from U.S.-based crypto and Web3 firms is expected to reshape the landscape by enhancing transparency and attracting institutional investors. Similar to the tech IPO boom of the early 2000s, these IPOs will likely draw significant capital inflows, positioning crypto as a more mainstream asset class. This influx of investment will not only boost confidence in the sector but also provide investors with clearer insights into its financial health, growth prospects, and long-term viability.
About CoinDCX
Established in 2018, CoinDCX is the largest crypto exchange in India, trusted by over 15 million registered users. Our mission is simple: to provide easy access to Web3 experiences and democratize investments in virtual digital assets. We prioritize user safety and security, strictly adhering to KYC and AML guidelines.
CoinDCX's Web3 arm, Okto Chain, is leveling up chain abstraction by building a fully expressive orchestration layer.
Through CoinDCX Ventures, we have invested in over 15 innovative Web3 projects, reinforcing our dedication to the Web3 ecosystem. Our flagship educational initiative, #NamasteWeb3, empowers Indians with crypto knowledge, preparing them for the future of virtual digital assets. CoinDCX's vision and potential have gained the confidence of global investors, including Pantera, Steadview Capital, Kingsway, Polychain Capital, B Capital Group, Bain Capital Ventures, Cadenza, Draper Dragon, Republic, Kindred, and Coinbase Ventures.
At CoinDCX, we are leading India towards the decentralized future of Web3 with an unwavering commitment to safety, simplicity, and compliance.
