India has been working towards the adoption of cryptocurrencies, with its lawmakers trying to understand the blockchain technology and the cryptocurrency market. According to the data collected by news publication Bitcoin News, with the help of Indian exchanges, five cryptocurrencies are the preferred choice of Indians.
The kingpin coin was highly traded on Indian exchanges like Wazirx, Coindcx, and Instashift. BTC, the world’s largest cryptocurrency, was the third most-traded cryptocurrency in 2019. Wazirx contributed $6.5 million worth of BTC in trade between January 1 and March 7.
In the same period, Coindcx swapped 792 BTC for its users and Instashift’s trade in BTC accounted for 77.76% of its total buy volume and 67.58% of its total sell volume.
In 2019, the price of BTC saw a spike of more than 4.28% from $3,742 at the beginning of the year to $3,937.97, at press time. The market cap of the coin was $69.34 billion and the 24-hour trading volume was $10.70 billion.
Ethereum [ETH], the second largest coin according to market cap, was also the second most-traded coin on Wazirx. The token noted transactions worth $2 million between January 1 and March 7. ETH was the fourth most-traded token on Instashift, but failed to acquire a place in the top-five coins by trading volume on Coindcx and Bitbns.
ETH’s noted a market cap of $14.51 billion and a 24-hour trading volume of $4.89 billion. ETH was valued at $138.01 at press time.
XRP was one of the top five coins with large trading volumes on Wazirx, Coindcx, Instashift, and Bitbns. The third largest cryptocurrency on CoinMarketCap was the third most-traded cryptocurrency on Wazirx, with nearly $2 million worth of XRP being traded.
The token was fourth most-traded on Coindcx, with 456 BTC worth of XRP being traded between January 1 and March 7. XRP was most-traded traded on Bitbns and second most-traded on Instashift, managing a total buy volume of 9.31% on Instashift and 9.74% of the exchange’s total sell volume.
At press time, XRP was valued at $0.3160 with a market cap of $13.09 billion. The token reported a 24-hour trade volume of 756.36 million.
Tron [TRX] made it to the top five list of most-traded coins of Wazirx, Coindcx, and Bitbns. Wazirx reported transactions of around $1.7 million of TRX and 423 BTC worth of the coin traded on Coindcx.
The tenth largest coin according to CoinMarketCap list was valued at $0.022699, with a market cap of $1.51 billion. The coin registered a 24-hour trading volume of $161.27 million.
BitTorrent Token [BTT]
Even though BTT was a newly launched coin in the crypto market, it was among the top five coins traded on Wazirx and Coindcx. Wazirx traded nearly $800,000 worth of the coin until now, while Coindcx traded an equivalent of 559 BTC.
The token started trading on Wazirx last month and soon became one of the most-preferred cryptocurrency for trade. The publication said that the reason behind its instant popularity was the monthly airdrop for TRX holders, which was also supported by Wazirx. The token’s current value is $0.0007 with a 24-hour trading volume of $22.42 million.
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