A number of Indian crypto exchanges have shared data with news.Bitcoin.com on the most traded cryptocurrencies on their platforms up until now this year. Crypto lovers in India have actually been purchasing and offering a vast array of cryptocurrencies despite the reserve bank’s obstruction which stops crypto exchanges from accessing banking services.
The most-traded cryptocurrency year-to-date on Indian exchanges Wazirx, Coindcx, and Instashift is BTC. On Bitbns exchange, it is the 3rd most-traded cryptocurrency this year. Wazirx facilitated $6.5 million worth of BTC trades between Jan. 1 and March 7. Coindcx switched 792 BTC for its users in the very same time period, while Instashift’s BTC trades represented 77.76% of its overall buy volume and 67.58% of its total sell volume.
The price of BTC has actually increased 4.28% year-to-date from $3,742 at the beginning of the year to $3,902 at the moment of this writing. Its market cap presently remains at around $68.59 billion, which is approximately 51.65% of the total market cap of over 2,000 cryptocurrencies listed on Coinmarketcap.
ETH currently has the second-largest market cap of roughly $14.21 billion. The cryptocurrency is the 2nd most-traded coin on Wazirx, with $2 million worth changing hands in between Jan. 1 and March 7. It is the fourth most-traded coin on Instashift but didn’t make the leading 5 coins by trading volume so far this year on Coindcx or Bitbns, basing on to data provided to news.Bitcoin.com by the exchanges.
The trading price of ETH only rose 0.86% from $134.49 since the commencement of January to $135.64 at the time of writing this article.
XRP, the native coin of Ripple, is among the leading 5 cryptocurrencies with biggest trading volumes on Wazirx, Coindcx, Instashift, and Bitbns up until now this year. It is the 3rd most-traded on Wazirx, with approximately $2 million worth of XRP changing hands given that the start of the year. It is the fourth most-traded coin on Coindcx, with 456 BTC worth traded throughout the same time period. XRP is likewise the most-traded coin on Bitbns and the second most-traded one on Instashift, accounting for 9.31% of the latter’s overall buy volume and 9.74% of its total sell volume.
The list price of XRP has dropped 12.78% from $0.354949 on Jan. 1 to $0.309570 at the time of this writing. The coin’s market cap is presently around $12.83 billion, which sees it sitting at the third highest of all alt coins.
Tron (TRX) ranks amongst the leading five most-traded coins year-to-date on Wazirx, Coindcx, and Bitbns. Given that the start of the year, around $1.7 countless TRX has actually altered hands on Wazirx and 423 BTC worth of the coin traded on Coindcx. In addition, another crypto exchange, Koinex, exposed on March 5 that TRX was the most popular digital asset of the week for its just recently introduced service, Express, which is an instantaneous converter for over 200 crypto trading sets.
The price of TRX has enjoyed nice success rising 17.71% since the start of the year, from $0.019096 to $0.022477. Its market cap is presently sitting at $1.50 billion.
Last month, China’s Center for Information and Industry Development (CCID), under the country’s Ministry of Industry and Information Technology, began evaluating Tron’s blockchain and ranked it second out of the total of 35 crypto projects that it ananlysed and reviewed.
Newbie Bittorrent token (BTT) is already among the leading five coins traded on Wazirx and Coindcx. The previous traded around $800,000 worth of the coin up until now this year and the latter the equivalent of 559 BTC.
BTT started trading on Wazirx last month and rapidly ended up being a preferred among traders, the exchange exposed. An element contributing to its popularity is most likely the coin’s regular monthly airdrop for TRX holders on the 11th of monthly, which Wazirx supports. Koinex also announced on Feb. 1 its support for the BTT airdrops.
The BTT token is expected to become integrated into the Bittorrent platform as a solution to incentivize quicker downloads. Despite the fact that the integration has not taken place, BTT’s price has climbed 43.02% from its $0.000516 price on Jan. 31 to $0.000738 at the time of this writing.
Coindcx also observed that its 3rd most-traded coin this year is THETA and the sixth most-traded is BNB. On Bitbns, ADA, EOS, and NEO also top the lineup of most traded coins during the same time period.
Currently, the Indian crypto community is waiting for the government to make public its first set of crypto guidelines and wishing for the banking ban by the central bank, the Reserve Bank of India (RBI), to be lifted. The high court, on Feb. 25, gave the government four weeks to come up with a regulatory framework for cryptocurrencies before it sets a date to hear the petitions versus the RBI ban.
Which cryptocurrencies do you think should be on the list? Let us know in the comments section below.
Images courtesy of Shutterstock and Coinmarketcap.
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