More Indian investors are cashing in on cryptocurrencies as a CoinDCX report revealed that 51.5% of investors’ portfolios now consist of Bitcoin and altcoins, indicating a shift towards long-term investment strategies.
Altcoins refer to all other coins excluding Bitcoin.
YourStory had previously reported a rising trend of investors looking at crypto assets as a long-term investment as opposed to a short-term one. The observation also comes amidst rising Bitcoin prices, which crossed $100,000 recently, helped by the re-election of Donald Trump as US President and rising institutional investor interest in the asset class.
Crypto exchange CoinDCX made these observations in its annual report for 2024, identifying key trends amongst users including shifting strategies and investment trends.
According to the report, altcoins lead with a 34.5% allocation, driven by rising interest in projects like decentralised finance, Layer 2 solutions and decentralised applications.
CoinDCX also saw a 253.33% surge in the adoption of systematic investment plans (SIPs) on the platform.
The company also saw a 159.65% increase in trading volume, reflecting the rising number of crypto traders in the country amid market momentum. It also reported a 366.67% surge in its assets under management.
According to the report, Tier II cities accounted for 40% of nationwide crypto activity due to digital penetration and growing interest in the asset class. Delhi and Mumbai led with a combined 22% activity.
CoinDCX said women from cities like Delhi, Lucknow and Hyderabad now represent 20% of its high-net-worth-individual (HNI) customers. Among their preferred tokens are Bitcoin, Ethereum, MATIC, and meme coin DOGE.
In 2024, tokens like SUI and DOGE led gains among assets with valuations exceeding $10 billion. Among emerging tokens, Popcat surged by 14,844%.
The report also noted that over 50% of CoinDCX investors are traders’ portfolios and are in profit amid the rising market activity.
“As we close the year, one message stands out clearly—the maturation of investors and the industry itself. This year’s data demonstrates not just the resilience of the crypto market but also the increasing confidence of investors who are building balanced portfolios for long-term growth. This transformation fuels my confidence in the future of digital assets and their role in reshaping global finance,” said Sumit Gupta, Co-founder of CoinDCX.
