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A new study has revealed that India's cryptocurrency industry is growing by leaps and bounds despite the looming shadow of regulatory uncertainty. The study found that India's cryptocurrency market size grew 39% from USD 53.1 million in FY20 to USD 74.2 million in FY21. The study was conducted by the National Association of Software and Services Companies (NASSCOM) and cryptocurrency exchange WazirX. According to the report, from 2019 to 2020, retail holdings of crypto assets grew by 612%, while the number of retail investors more than doubled from 7 million last year to 15 million in 2021. This means that…
New Delhi, September 27, 2021: National Association of Software and Services Companies (Nascom), In collaboration with industry partners Wazir Xtoday released a report entitled 'India's Crypto Industry'. This report reveals how the Indian cryptocurrency market has risen exponentially and has grown steadily over the past few years. More and more young investors in India are excited to explore new investment options and are turning to cryptocurrencies like Bitcoin, Ethereum, and Polygon to make investments that promise realizable returns. We are hiring. These digital currencies, along with other applications of DLT, are attracting a lot of attention and are leading to…
Last Friday, the People's Bank of China reiterated its complete ban on digital asset trading.getty If you would like this weekly update sent to your inbox every Saturday, click here How to become a subscriber. Related article: The next frontier for US sports betting is cryptocurrencies and blockchain technology eternal reckoning cryptocurrency caught up Concerns over the possible bankruptcy of Evergrande, one of China's biggest real estate developers, took global markets by storm on Monday.. Troubled real estate companies have warned banks that they will not be able to make payments on $300 billion worth of debt due this month,…
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of Indian cryptography market has the potential to generate economic added value of $184 billion by 2030 In the form of investments and cost reductions, the report titled:Indian crypto industry. report by National Association of Software and Services Companies (NASSCOM) partners with Indian cryptocurrency exchange Wazir Xsaid that India's crypto market has the potential to generate excess profits. 800,000 jobs by 2030. Speaking of cryptography industry, Mr. Debjani Ghosh, President, NASSCOMSaid, “India's crypto technology industry is not only showing positive impact at the grassroots level but also emerging as one of the fastest growing technology sub-sectors. systems and play a…
The Indian cryptocurrency industry has seen rapid growth in recent times despite a lack of clarity on regulation at the national level, and in fact, the industry is expected to grow over time. In fact, a research report compiled by NASSCOM and WazirX estimated that the country's crypto industry could reach $241 million by 2030, with the global industry reaching $2.3 billion by 2026. NASSCOM Chairman Devjani Ghosh said: “The Indian crypto industry is not only demonstrating positive impact at the grassroots level but is also emerging as one of the fastest growing technology sub-sectors.” He added, “India offers the…
Top Line In further evidence of the extreme volatility in emerging markets, cryptocurrency prices plummeted Friday morning after China's central bank reiterated its blanket ban on digital asset trading. Some experts warned that the harsh remarks could encourage more countries to take similar measures, while others noted that prices have recovered quickly from similar announcements in the past. The plunge erased nearly all of the gains since Monday's sell-off triggered a sharp drop in the cryptocurrency market. … [+] The worst drop in weeks.Getty Key Facts The value of global cryptocurrencies plummeted to a low of about $1.8 trillion by…
Our Secretariat Last updated – December 6, 2021, 4:41 AM. The Indian cryptocurrency market has grown rapidly in the past few years and is expected to reach $241 million domestically by 2030 and $2.3 billion globally by 2026.As an increasing number of young Indian investors are keen to explore new investment options, they are adopting cryptocurrencies such as Bitcoin, Ethereum and Polygon to invest in things that promise achievable profits, revealed a survey on the ‘Cryptocurrency Industry in India’ conducted by the National Association of Software and Services Companies (Nasscom) and industry partner WazirX on Friday. These digital currencies and…
India's crypto technology industry will reach $241 million by 2030, the National Association of Software and Services Companies (Nasscom) said in a report in association with cryptocurrency platform WazirX. The industry is expected to be worth $2.3 billion worldwide by 2026.India's cryptography market could generate over 800,000 jobs and $184 billion in economic value added by 2030 in the form of investments and cost savings, according to the 'Indian Crypto Industry' report. That's what it means. Young investors in India are increasingly exploring new investment options and are embracing cryptocurrencies like Bitcoin, Ethereum and Polygon to make investments that promise…
This article is over two years old.Updated on September 20, 2021 at 1:40 p.m. EDTtop line Cryptocurrency prices plummeted on Monday morning, with many of the world's largest digital currencies on the decline for the first time in more than a month, amid a broad market selloff triggered by concerns over a potentially catastrophic debt default in China. The price fell to a low. Lowest price in more than a month.Getty Images important facts The value of global cryptocurrencies plunged to a low of less than $1.9 trillion by 8:45 a.m. EDT Monday, 11% from 24 hours earlier, according to…