Crypto exchanges overtake Zerodha
It was only a few years back when Zerodha became the largest trading platform in the Indian markets. Last year was a watershed moment for the global financial markets with a new breed of investors entering that was coincided with the rise of meme stocks and cryptocurrencies.
In the ongoing debate whether crypto is a currency or an asset class, volatility rules supreme — as witnessed in the Bitcoin prices over the past couple of years. Indians, like the world, are equally excited about crypto.
According to a report by Quartz, in 2018, one in every 10 bitcoin purchases in the world happened in India.
Having said that, the crazy runup in cryptocurrencies has lured individuals from tier 2 and tier 3 centres of India to join the bandwagon. The leading crypto platforms operating in India viz., WazirX, CoinDCX, CoinSwitch Kuber have enabled this transition. The latter two have been founded in India and recently turned into unicorns.
Can this rise be attributed to the elusive returns been propagated across the board for cryptocurrencies? Or this is a sign of investors being more aware and mature?
In my opinion, it is the former. Would love to hear your thoughts. Join the discussion here.
Until next time!
P.S. At Le Monturé Strategy, we are conducting an investor behaviour survey to understand this shift in investor behaviour. Do participate and share the word around. Take the survey here — https://lnkd.in/ec_UbmNz
(Sajid is a Strategy Consultant operating at the intersection of human behaviour, business design and innovation strategy. He tweets @sajidkhetani.)
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