Uttar Pradesh Surpasses Mumbai as India's Top Crypto Market

Uttar Pradesh has surpassed Mumbai as the top cryptocurrency market in India, according to data from CoinSwitch. The state accounted for 12.9% of total trading volume on the platform in the second quarter of 2026.

This shift shows that crypto adoption is spreading from major financial hubs like Mumbai into smaller cities. Investors should remain aware that cryptocurrency is a volatile, high-risk, and tax-heavy asset class in India.

The report also found that younger investors, aged 18-25, represented the largest segment of new entrants to the platform but were also the most active sellers. In contrast, older investors, particularly those aged 46 and above, showed higher buying conviction.