Indian investors have solidified their position as global leaders in cryptocurrency adoption, with PEPE standing out as the top-performing asset. According to a recent report by CoinSwitch, the meme coin witnessed an astonishing surge of 1300%, making waves in the crypto portfolios of Indian enthusiasts.
This year also saw Bitcoin reach a historic milestone of $100,000, further fueling India’s crypto investment frenzy. Meme coins like Dogecoin and SHIB garnered immense attention, with Dogecoin emerging as the most favored for long-term investment, while SHIB held the title for being the most traded.
Key Highlights of India’s Crypto Landscape
- Delhi-NCR Tops Crypto Adoption
For the third year running, Delhi-NCR led the charge in cryptocurrency adoption, closely followed by Bengaluru and Mumbai. - Regional Adoption Expands
Crypto adoption is no longer confined to big cities. Tier-2 and Tier-3 regions like Jaipur, Lucknow, and Botad have demonstrated robust growth, signaling widespread interest across the country. - Exceptional Growth in Pune
Pune boasted the highest percentage of investors with positive returns, with 86% of users reporting portfolio gains. - Emerging Crypto Cities
Kolkata and Botad joined the top 10 cities for cryptocurrency adoption, occupying the 9th and 10th spots, respectively.
The Crypto Investor Profile
- Young Investors Lead the Way:
Individuals under 35 dominate the space, accounting for nearly 75% of investors, with notable growth among those aged 36–45. - Gender Gap Persists:
Despite growing interest, only 11% of investors are women, revealing a critical gap that needs to be addressed for more inclusivity.
Investment Trends
Bitcoin (BTC) and Ethereum (ETH) remain investor favorites, ranking 2nd and 3rd with 7% and 6% preferences. However, meme coins collectively take a notable 13% share of all crypto investments. Among them:
- Dogecoin (DOGE): The top meme coin, holding 55% of meme coin investments.
- PEPE: A standout performer, achieving a record-breaking rise this year.
- BONK: Another notable contender gaining traction.
Expert Insights
Balaji Srihari, Vice President of CoinSwitch, remarked,
“The year 2024 has been a game-changer for the global crypto ecosystem. Major political and regulatory shifts have propelled mainstream adoption. At CoinSwitch, we’ve seen crypto interest move beyond metros into smaller cities, with investors diversifying portfolios across meme coins, Layer-1, and DeFi tokens. With Bitcoin hitting $100,000, we’re optimistic about what 2025 holds.”
India’s crypto landscape in 2024 reflects a vibrant, rapidly growing market. As more investors join the movement and diversify their portfolios, the foundations for long-term industry growth seem stronger than ever.
