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Indian Crypto Market Sees Surge Amid Bitcoin Rally

Guavy AI Editorial Team
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BTC USDT WRX
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India's cryptocurrency market has seen increased activity following Bitcoin's recent rally. As of August 23, BTC was trading around $79,000.

CoinDCX reported a significant surge in spot and futures trading volumes, with its average daily volume increasing to approximately 11.7 million USDT by August 23.

Sumit Gupta, co-founder and CEO of CoinDCX, stated that BTC trading volume rose from around $300,000-$700,000 during the earlier period to $2 million on August 21.

Mudrex reported a 20% week-on-week increase in spot volumes, indicating stronger participation from traders seeking exposure to the rally. WazirX saw daily futures volumes increase almost sevenfold between August 16 and August 22.

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