There are more than 19 million crypto investors in India, out of which, 9 percent belong to the fairer sex. The year 2023 was reasonably positive for the overall industry with Bitcoin reporting a massive spike of more than 160 percent. Other tokens such as Ethereum, Solana, Dogecoin and Cardano also were in the green, stated the second edition of CoinSwitch report, ‘India’s Crypto Portfolio 2023’.
The report has shown a slew of interesting facts. These include the following:
A. Top three metros: Over 20 percent of total crypto investments are concentrated in the three major metropolitan areas: Delhi with 9 percent investment, Bangalore with 8 percent, and Mumbai with 5 percent.
B. Youth appeal: Cryptocurrencies have always struck a chord with young investors with 75 percent of investors below the age of 35.
C. Popular currencies: Most popular cryptocurrencies based on their market cap are Dogecoin, Bitcoin, Ethereum, together contributing to 26 percent of the total value.
D. Highest performance: Solana was the best performing crypto, delivering 633 percent growth year to date.
E. Fairer sex: Only nine percent of crypto investors are women, while Delhi and Hyderabad make the highest contribution of women investors.
Crypto portfolio
Most of the investments comprising 52.8 percent are made in the top eight coins which include Bitcoin, Ethereum, BNB, Ripple, Dogecoin, Cardano, Polkadot and Solana.
This is followed by DeFi tokens which constitute 17.6 percent of investment. The DeFi tokens include Sushi, DIA, Yearn Finance, DFI Money and Republic Protocol.
As far as individual tokens are concerned, the top five crypto tokens based on their market share include Dogecoin with 11.1 percent share, Bitcoin (8.5 percent), Ethereum (6.4 percent), Shiba Inu (5.7 percent) and Cardano (5.1 percent).
Age group
Maximum number of crypto investors (40.19 percent) fall in the age group of 26-35. This is followed by the young investors (in the age bracket of 18-25) who comprise 34.27 percent of total investors.
The mature investors in the age group of 36-45 comprise 15.52 percent of investors and those above the age of 46 years constitute 10 percent of the total number of investors.
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Published: 22 Dec 2023, 07:12 PM IST