Bitcoin's sharpest rally in 3 years boosts Indian exchanges
Bitcoin just saw its sharpest rally in three years, and Indian crypto exchanges are feeling the excitement.
CoinDCX said its spot volume more than doubled, WazirX said daily futures volumes increased almost 7x, Mudrex's spot volume rose 20% week-on-week, and Giottus reported 22% spot growth and 31% futures growth.
CoinSwitch saw strong interest in ethereum, XRP, Doge, Shiba Inu and Solana.
The surge came after Bitcoin nearly touched $80,000 and trading at $77,000 on August 24 morning.
Major Indian exchanges report volume spikes
CoinDCX's spot trading volume rose from around $5-6 million to approximately $13 million, with Bitcoin trades making up $2 million.
WazirX saw daily futures volumes increased by almost 7x between 16 and 22 August.
Giottus had a 22% boost in spot trades and a whopping 31% rise in futures trading.
Mudrex also reported a solid 20% weekly increase in spot trades.
All this points to Indian investors getting more involved (and maybe a bit more optimistic) about crypto right now.