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Indian crypto currency trading volumes grow 500% since March

Cryptocurrency bitcoins

The average daily crypto currency trading volumes across the top Indian exchanges has grown by nearly 500% since March 2020, when the Supreme Court struck down the Reserve Bank of India's (RBI) April 2018 circular. While the apex court's order had removed the restrictions on banks from working with crypto firms, the COVID-19 pandemic has also encouraged investors to start investing in crypto currencies. According to data from CoinGecko, the average daily traded volume across the top four Indian crypto currency exchanges stood at over $22.4 million as of December 16, 2020 compared to a little under $4.5 million as of March 1, 2020. The exchanges include WazirX, ZebPay, CoinDCX and BitBNS. Data for other exchanges was not available on CoinGecko. According to research by global crypto currency exchange, Paxful, India is the second biggest Bitcoin nation in Asia, after…

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