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Crypto Market – Global
Three criteria make up the Global Crypto Adoption Index. They rate all 154 nations based on those three parameters, then take the geometric mean of each country’s rating over all three indicators and normalize that final figure on a scale of 0 to 1 to give each country a score that determines the overall rankings. The higher the rank, the closer the country’s ultimate score is to one. Talking about the recent development, China, previously the world’s biggest Crypto market, in September, banned all Crypto activities in the country.
Cryptocurrecny Market
Country | Index Score | Overall Index Ranking |
---|---|---|
Vietnam | 1 | 1 |
India | 0.37 | 2 |
Pakistan | 0.36 | 3 |
Ukrain | 0.29 | 4 |
Kenya | 0.28 | 5 |
Crypto Market – India
Talking about the Crypto owners, India outperforms in Crypto Ownership. As of now, India has more than 10.07 Cr. Crypto owners. This number might look small compared to India’s population, but when it is compared to the number of active clients to India’s top brokers, it is 5 times combined. This shows how big is India’s crypto market and how much potential it holds.
Understand this with the data below:
Stock Broker | Active client | Market Share |
---|---|---|
Zeroda Broking Ltd. | 54 Lakh | 18.33% |
RKSV Securities India Private Ltd. (Upstox) | 42 Lakh | 14.24% |
Angel Broking Ltd (AngelOne) | 28 Lakh | 9.56% |
Nextbillion Technology Pvt Ltd. (Groww) | 26 Lakh | 8.95% |
ICICI Securities | 26 Lakh | 8.70% |
Crypto Exchange
India is home to a number of Crypto exchanges such as WazirX, CoinSwitch Kuber, CoinDCX and so on. This year, despite ongoing regulatory uncertainty and market volatility, WazirX, India’s largest cryptocurrency exchange, had record-breaking activity when investors from smaller cities in the South Asian country rode on the digital-asset tsunami.
Challenges Ahead 2022
The future of the Crypto market in India is uncertain and a lot will be determined by the government policy that the Government of India is planning to present in parliament in 2022. The Indian government is working on laws to restrict cryptocurrency use and trade. The Cryptocurrency and Regulation of Official Digital Currency Bill were supposed to be introduced during Parliament’s winter session, but the disagreement over agricultural bills stopped it. Although the bill was not debated in Parliament, investor interest has not waned. Cryptocurrencies, on the other hand, are a relatively new investment class with limited data for fundamental research.
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Original news source Credit: www.goodreturns.in
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