The Indian government is trying to understand blockchain technology and the cryptocurrency market. However, citizens are becoming more interested in cryptocurrency adoption. According to data from Bitcoin News, these are the five most preferred cryptocurrencies among Indians.
Bitcoin [BTC]
This is not surprising, as the most popular cryptocurrency even has its own fan base in India. BTC was third in cryptocurrency trading volume in 2019. It is also highly traded on Indian exchanges, including Wazirx and Coindcx.
Wazirx traded approximately $6.5 million worth BTC between January 1 & March 7. Coindcx made a trade for around 792 BTC. Instashift’s BTC Trade accounted for 67.58% and 77.76% respectively of its total buy volume.
BTC was at $3,937.97 and had a market capital of $69.34 billion. The 24-hour trading volume was 10.70 billion. BTC’s price spike in Totality has exceeded 4.28% from its $3,742 point at the start of the year.
Ethereum [ETH]
Market cap second, ETH gladly accepted the second-most traded coin position on Wazirx. Between January 1 and March 7, transactions of $2 million were recorded by ETH. It was fourth on Instashift’s most-traded list, but it failed to place in the top five coins by trading volume on Coindcx or Bitbns.
ETH has a market capitalization of $14.51 Billion and a daily trading volume of $4.89 Billion.
XRP
XRP managed a place in the top five most traded coins across Indian exchanges – Wazirx (Coindcx), Instashift (Bitbns) and Instashift (Instashift).
Wazirx was the third-largest cryptocurrency traded on CoinMarketCap, with nearly $2 million worth of XRP. Coindcx saw 456 BTC of XRP traded between January 1 and March 7, earning it the fourth most-traded cryptocurrency.
Instashift and Bitbns were the most traded and second most traded tokens, respectively. Bitbns saw 9.31% of total volume, while Instashift saw 9.74%.
At press time, XRP was worth $0.3160 with a market capitalization of $13.09 Billion and a 24-hour trade volume in excess of 756.36 Million.
Tron [TRX]
TRX is fasty afloat in the top five most traded coins with around $1.7million of TRX traded on Wazirx and 423 BTC of coin traded on Coindcx.
TRON’s market capitalization was $1.51 billion at press time. It was currently valued at $0.022699. According to market capital, TRON is the tenth-largest coin with a daily trading volume of $161.27 millions.
BitTorrent Token (BTT)
Although it is a new coin in the cryptocurrency environment, it has managed to hold a position among the top five coins traded on Wazirx or Coindcx. Coindcx, on the other hand, traded 559 BTC, while Wazirx sold nearly $800,000.
Wazirx began trading BTT last month. However, the coin quickly rose to the top of the most-preferred cryptocurrency to trade. As a possible reason for the rapid popularity, the publication mentioned the TRX monthly airdrop. Wazirx also supported the airdrop.
Current value of the token is $0.0007, with a daily trading volume $22.42 Million.
