One of the world’s fastest-growing crypto-regions is backed by India.
In the last year, India’s cryptocurrency market has grown by 64%.
According to Chainalysis, India’s appetite for digital coins is propelling the area, which also encompasses Central and Southern Asia and Oceania, to the top of the world’s fastest-growing cryptocurrency marketplaces.
After the Middle East and parts of Europe, these regions have the biggest growth rates, with India’s market up 641 percent and Pakistan’s market up 711 percent in the last year.
In South and Central Asia, as well as Oceania, chainalysis is becoming more widespread.
The Chainalysis research uses a metric to determine the total amount of bitcoin received by a country and looks at the trend for the year through June 2021.
In addition to India, the study found that bitcoin usage has surged in Pakistan and Vietnam. India surpassed the other two countries, with 59 percent of activity on decentralized fundraising platforms.
“Bitcoin transactions worth more than $10 million account for 42% of all transactions sent from Indian addresses, compared to 28% in Pakistan and 29% in Vietnam.” “According to the report,” bitcoin investors in India are part of larger, more sophisticated companies, according to these numbers.
According to local sources, the bitcoin industry attracts the country’s celebrities. Amitabh Bachchan, for example, created non-exchangeable tokens, or digital collectibles, and became a brand champion for exchange. CoinDCX is India’s first cryptocurrency unicorn.