Crypto Boom Expands to Indian Towns, Beyond Major Metro Cities
India’s crypto wave spreads to smaller cities as youth-driven investments rise, diversifying portfolios beyond major metros.
Dec 20, 2024
Botad, Patna, and Dehradun drive crypto growth beyond metros.
Young investors under 35 dominate the 2 crore user base in India.
Meme coins and Layer-1 assets like Bitcoin gain popularity.
India's crypto wave is no longer limited to its major cities. Smaller towns like Botad, Jalandhar, Ludhiana, and Dehradun are emerging as key players in the digital assets market. This shift is fueled by a growing number of young investors, primarily aged 18-35, who seek to diversify their portfolios with cryptocurrencies.
A report by CoinSwitch highlights the increasing popularity of meme coins, Layer-1 tokens like Bitcoin and Ethereum, and DeFi assets. Meme coins now make up 13% of all crypto investments, with Dogecoin leading the pack at 55%, followed by Shiba Inu as the most traded. PEPE coin has been a standout, soaring by 1300% in 2024.
The year also witnessed Bitcoin’s historic rise to $100,000, marking a milestone for the global crypto ecosystem. CoinSwitch Vice President Balaji Srihari noted the growing interest from Tier-2 and Tier-3 cities, attributing it to regulatory changes and the mainstreaming of crypto. This trend signifies a new era in India’s financial landscape, where smaller cities play a pivotal role in the digital revolution.
