India

The rise of the Indian cryptocurrency market is behind the exchange's hot funding.

Compared to last year, the number of young investors in rural India looking to buy and trade cryptocurrencies and stocks has increased significantly, Coindesk reported on Aug. 24. According to data from the Bombay Stock Exchange, new user registrations increased by 45 percent to 70 million in 2021 compared to the previous year.

Coinswitch Kuber has seen a 135% increase in rural registrations since June last year. coinDCX has also seen a 48.7x increase in user registrations from less populated cities in India in the last six months.

The hot Indian cryptocurrency trading market is not only reflected in India's local exchanges, but is gradually spilling over to global ones as well.