Most Popular Cryptos To Trade In India In 2024

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Cryptocurrency Scripts

10 min readMay 22, 2024

In 2024, India’s cryptocurrency trading landscape continues to evolve, driven by a surge in interest and regulatory developments. Bitcoin (BTC) remains a dominant choice, favored for its established status and potential as a store of value. Ethereum (ETH) stands out for its smart contract capabilities and role in decentralized finance (DeFi) applications. Gari Network (GARI) has gained traction for its high-speed transactions and scalability, appealing to traders seeking efficiency.

Toncoin (TON) is another popular option, known for its focus on sustainability and scalability. Eesee (ESE) remains a top choice, offering utility within the Binance ecosystem and a range of applications. Additionally, newer tokens like Ice Network (ICE) and XCarnival (XCV) are gaining attention for their innovative technologies and strong communities. As India’s crypto market matures, these coins present diverse trading opportunities, reflecting the growing sophistication and diversity of the country’s crypto ecosystem.

Top Crypto To Trade In India

1. Bitcoin (BTC)

Bitcoin (BTC) reigns supreme in India’s crypto landscape. Here’s why:

Market Dominance: Bitcoin accounts for over 45% of the total Indian crypto market capitalization [Forbes Advisor India]. This translates to high liquidity, making it easier to buy and sell BTC compared to other cryptos.
Brand Recognition: Bitcoin is the most well-known cryptocurrency, giving it an edge for new investors entering the Indian market.
Established Exchanges: Reputable Indian crypto exchanges like WazirX and ZebPay offer seamless trading options for BTC [Economic Times].

Bitcoin, often referred to as digital gold, has experienced significant volatility in both Indian and global markets this year. Several factors have contributed to this, including the approval of spot Bitcoin ETFs in the US and Hong Kong, the upcoming Bitcoin halving in 2024, and a potential supply squeeze. Its high value, extreme scarcity, and appeal as a store of value and hedge against inflation have made it attractive to both retail and institutional investors.

Additionally, Bitcoin’s long-standing presence and growing adoption by mainstream financial sectors and companies highlight its relevance and potential as a solid investment. Despite regulatory uncertainties and environmental concerns related to Bitcoin mining, BTC remains a major player whose innovations could have widespread financial implications.

As the leading cryptocurrency by market capitalization, Bitcoin holds a market cap of over $1.2 trillion. Over the past year, its value has increased by more than 106%.

2. Ethereum (ETH)

Ethereum (ETH) is rapidly gaining traction as a leading cryptocurrency in India, offering a strong alternative to Bitcoin (BTC). Here’s a breakdown of its potential:

Utility Beyond Currency: Unlike Bitcoin’s primary function as a store of value, Ethereum’s blockchain technology powers smart contracts, enabling applications like decentralized finance (DeFi) and non-fungible tokens (NFTs). This broader utility attracts investors seeking involvement in these emerging areas.
Active Development: The Ethereum network is constantly evolving, with upgrades addressing scalability and efficiency concerns. This ongoing development fosters confidence in its long-term viability.
Price Potential: While currently priced around ₹303,658.60 per ETH [Coinbase], Ethereum has historically shown significant growth potential, appealing to investors seeking high returns.

Recent strategic shifts, such as the ongoing Ethereum 2.0 upgrade, have greatly increased Ethereum’s appeal. This upgrade, along with innovations like liquid staking and restacking mechanisms, enables investors to earn staking rewards without locking up their assets. These changes not only reduce the environmental impact but also aim to decrease the new supply of ETH, potentially boosting its value.

Despite the rise of competing blockchains, Ethereum remains a hub for developers, maintaining a strong foothold. Its continuous innovations and robust developer community contribute to its resilience and long-term potential in the volatile crypto market.

As the second-largest cryptocurrency by market capitalization, Ethereum boasts a market cap of over $358 billion. In the past year, Ethereum has gained over 42% in value.

3. Gari Network (GARI)

Gari Network (GARI) is a unique cryptocurrency designed to empower content creators and foster engagement within the Chingari social platform. Here’s a glimpse into GARI’s potential:

Focus on Creators: GARI rewards creators for their content on the Chingari app. Users can tip creators with GARI, allowing creators to monetize their work and build a loyal fanbase.
Growing Platform: Chingari has expanded into new markets like the US, Turkey, and UAE, potentially increasing the user base for GARI [Gari Network roadmap].
In-App Utility: GARI unlocks various features within the Chingari app, giving it additional value beyond simply trading on exchanges.

However, consider these limitations before investing:

Newer Player: Compared to established cryptos like BTC and ETH, GARI is a relatively new entrant with a smaller market cap (around $8 million) [CoinMarketCap].
Platform Dependence: GARI’s value is heavily tied to the success of the Chingari app. If Chingari fails to attract users, it could negatively impact GARI’s price.
Limited Use Cases: Currently, GARI’s primary use case revolves around the Chingari platform. Wider adoption across other social media platforms could significantly benefit GARI.

GARI offers a unique opportunity for investors interested in the social media and creator economy space.

3. Toncoin (TON)

Toncoin (TON) is a cryptocurrency gaining attention for its focus on speed and scalability. Here’s a look at what TON offers:

Fast Transactions: TON boasts a unique architecture designed to handle millions of transactions per second, exceeding the capabilities of popular cryptos like Bitcoin and Ethereum.
Decentralized Applications (DApps): TON supports DApps, opening doors for innovation in areas like DeFi and DAOs.
Telegram Connection: Though Telegram ultimately distanced itself from the project, TON’s origins with the popular messaging app garnered initial interest [Techopedia].

However, consider these points before investing in TON:

Relatively New: TON’s mainnet launch only occurred in 2020, making it a younger player compared to established cryptos.
Competition: TON faces competition from other high-speed blockchain platforms vying for dominance in the fast-paced crypto world.
Limited Adoption: While TON offers potential, mainstream adoption by users and businesses is still evolving.

Toncoin presents an intriguing option for investors seeking a fast and scalable cryptocurrency with the potential for DApps.

4. Celestia (TIA)

Celestia (TIA) isn’t the typical cryptocurrency you directly trade for everyday transactions. Instead, it focuses on the infrastructure layer of blockchain technology, aiming to revolutionize how blockchains are built. Here’s what makes TIA unique:

Modular Blockchain Network: Celestia takes a modular approach, separating data validation from transaction processing. This allows developers to build custom blockchains on top of Celestia, focusing on specific functionalities without worrying about scalability limitations.
Enhanced Scalability: By separating functionalities, Celestia aims to overcome scalability issues that plague traditional blockchains like Bitcoin and Ethereum. This could pave the way for mass adoption of blockchain technology.
Developer Focus: TIA caters to developers seeking to build the next generation of blockchain applications. Its focus on modularity and scalability makes it an attractive platform for innovative projects.

However, keep these factors in mind before investing in TIA:

Early Stage: Celestia is a relatively new project still under development. Its long-term success hinges on widespread adoption by developers and the overall growth of the blockchain ecosystem.
Indirect Investment: Unlike cryptos like Bitcoin where you directly own a piece of the network, TIA’s value is derived from its utility for developers. Understanding this indirect investment approach is crucial.
Limited Trading Availability: Currently, TIA is not available on all major cryptocurrency exchanges, potentially impacting its liquidity.

Celestia (TIA) offers a glimpse into the future of blockchain architecture. Its focus on modularity and scalability positions it as a potential game-changer.

5. Kaspa (KAS)

Kaspa (KAS) stands out as a Proof-of-Work (PoW) cryptocurrency aiming to address scalability limitations often associated with PoW protocols like Bitcoin. Here’s a breakdown of Kaspa’s unique features:

GHOSTDAG Protocol: Unlike traditional blockchains, Kaspa utilizes the GHOSTDAG protocol. This allows for faster transaction processing by enabling multiple blocks to be created simultaneously, rather than forcing them to compete linearly.
Scalability Focus: Kaspa’s core design prioritizes scalability. It boasts fast block times (currently 1 second, aiming for 10 seconds in the future) and minimal transaction confirmation times, potentially making it suitable for handling a high volume of transactions.
Open-Source Project: Kaspa is a community-driven, open-source project, that fosters transparency and collaboration within its developer base.

However, consider these aspects before investing in KAS:

Newer Player: Compared to established cryptos, Kaspa is a relatively new entrant with a smaller market capitalization (around $3 billion) [CoinMarketCap].
Competition: Kaspa faces competition from other scalable blockchains vying for dominance in the PoW space.
Limited Adoption: While Kaspa offers a promising approach, mainstream adoption by users and businesses is still in its early stages.
Proof-of-Work Model: The Proof-of-Work model Kaspa uses raises concerns about energy consumption compared to Proof-of-Stake models used by some other blockchains.

Kaspa presents an interesting proposition for investors seeking a scalable Proof-of-Work cryptocurrency.

6. Ice Network (ICE)

ce Open Network (ION), powered by its native token ICE, is a Layer 1 blockchain aiming to be a user-centric platform for the future of web3. Here’s a closer look at what ICE offers:

Decentralization Focus: ICE prioritizes decentralization, meaning there’s no central authority controlling the network. This fosters a more transparent and community-driven ecosystem where users have a say in the network’s direction.
Scalability and Speed: Ice Open Network boasts high transaction speeds and scalability, aiming to handle millions of transactions per second. This could be attractive for users seeking a fast and efficient platform.
Privacy and Data Ownership: ICE emphasizes user privacy and control over data. This aligns with growing concerns about data privacy in the digital age.
Decentralized Autonomous Organization (DAO): ICE operates under a DAO structure, where token holders can vote on proposals and participate in network governance. This allows users to actively shape the future of the platform.

Ice Open Network (ICE) presents itself as a user-centric and scalable blockchain platform. Its focus on decentralization, privacy, and DAO governance could be appealing to investors seeking a future-oriented crypto project.

7. Eesee (ESE)

Eesee (ESE) stands out as a gamified NFT marketplace offering a unique approach to buying and selling digital assets. Here’s what makes ESE interesting:

Lottery System for NFTs: Eesee utilizes a lottery system for NFT sales. Instead of a fixed price, users can participate in a raffle-like system for a chance to win an NFT at a fraction of its market value. This can incentivize participation and potentially lead to higher sale prices for creators.
Focus on Affordability: By making NFTs more affordable through the lottery system, Eesee aims to broaden the accessibility of NFTs to a wider audience.
Expansion Plans: While currently focused on NFTs, Eesee plans to integrate other digital assets like fungible tokens and even real-world assets (RWAs) in the future, potentially becoming a one-stop shop for digital asset trading.
Lower Barrier to Entry: Eesee aims to reduce the cost barrier associated with entering the Web3 space, making it potentially attractive for new users.

However, keep these limitations in mind before investing in ESE:

Newer Platform: Eesee is a relatively new platform compared to established NFT marketplaces like OpenSea or Rarible. Its long-term success depends on attracting users and creators.
Limited Track Record: With a shorter history, it’s difficult to assess the platform’s long-term viability and the effectiveness of its gamified lottery system for NFTs.
Competition: The NFT market is already quite competitive, and Eesee needs to carve out its niche and attract a loyal user base.
Uncertainty Around RWAs: Integrating real-world assets presents regulatory and logistical challenges that Eesee needs to navigate effectively.

Eesee offers a novel approach to NFT trading with its gamified lottery system. Its focus on affordability and broader asset integration plans are intriguing.

8. XCarnival (XCV)

XCarnival (XCV) positions itself as a one-stop platform for borrowing, lending, and trading assets within the Metaverse and the broader world of NFTs (Non-Fungible Tokens). Here’s a breakdown of XCV’s potential:

NFT-Focused Lending: XCarnival aims to be a lending aggregator specifically for Metaverse assets and NFTs. This caters to a growing demand for liquidity in the NFT space, allowing users to borrow against their NFT holdings or earn interest by supplying NFTs as collateral for loans.
Multi-Chain Compatibility: XCV plans to be operational on multiple blockchains like Ethereum, Polygon, and Solana. This interoperability could expand its reach and user base.
Additional Features: XCV offers features like a brokerage service for NFT purchases and potentially mining rewards for users who participate in the platform’s ecosystem.

However, consider these limitations before investing in XCV:

Early Stage: XCarnival is a relatively new project with its core functionalities still under development. Its long-term success hinges on wider adoption and successful execution of its plans.
Competition: The NFT lending space is becoming increasingly crowded, with established players and new entrants vying for market share.
Regulatory Uncertainty: Regulations surrounding NFTs and DeFi (Decentralized Finance) are still evolving, potentially impacting XCarnival’s operations.
Dependence on Underlying Assets: The value of XCV is intrinsically linked to the value of NFTs and Metaverse assets. Fluctuations in these markets could impact XCV’s price.

XCarnival presents a feature set tailored to the growing NFT and Metaverse market. Its focus on NFT lending and multi-chain compatibility could be attractive to investors in this space.

Conclusion.

In conclusion, the cryptocurrency landscape in India is dynamic and vibrant, with several key players dominating the trading scene. Bitcoin, Ethereum, Solana, Cardano, Binance Coin, Avalanche, and Terra emerge as the most popular choices for traders in 2024. These cryptocurrencies offer a mix of established credibility, innovative technologies, and strong community support, making them attractive options for investors looking to diversify their portfolios. As regulatory clarity improves and adoption continues to rise, these cryptocurrencies are likely to maintain their popularity and potentially even expand their reach.

However, as with any investment, traders need to conduct thorough research and consider their risk tolerance before investing in cryptocurrencies, especially in a market as dynamic as India’s. With the right approach and understanding, trading cryptocurrencies in India can be a rewarding experience, offering exposure to some of the most exciting assets in the digital space.