Introduction
We’re thrilled to present the CoinDCX Year-End Report for 2024: Unfolding India’s Crypto Story. This report reflects the remarkable growth, challenges, and triumphs of the crypto ecosystem through the lens of our ever-expanding community of 1.6 crore users—a 14.29% increase from last year. Amid global milestones, including Bitcoin crossing the $100,000 threshold and the crypto market cap hitting a historic $3.36 trillion, CoinDCX solidified its position as a leader in India’s crypto revolution.
Our initiatives, from pioneering industry-first solutions like the Crypto Investor Protection Fund (CIPF) to introducing INR-friendly Web3 tools, have laid the groundwork for sustainable growth and trust. Here’s a glimpse of what shaped this transformative year.
Key Highlights from CoinDCX in 2024
1. Regulatory Leadership and Transparency
CoinDCX reinforced its leadership in compliance, becoming the first Indian exchange to launch monthly transparency reports. With ₹6,131.4 crore in Proof of Reserve holdings, we prioritized trust and accountability for our users. Additionally, our ₹57.5 crore CIPF became a safety net, ensuring investor protection during unforeseen events.
2. Expansion into MENA and Global Footprint
CoinDCX marked its global presence by acquiring BitOasis, a leading crypto platform in the MENA region, processing $6 billion in trading volume. This move positions us as Indian entrepreneurs making waves on the global stage.
Read more: CoinDCX Acquires BitOasis
3. Massive Growth in User Base and Diversity
Our user base reached 1.6 crore, with women investors contributing significantly. Notably, 60% of female participants hailed from Delhi, Lucknow, and Hyderabad, while Tier-2 cities like Jaipur and Patna emerged as vibrant crypto hubs.
4. Educational Outreach and Community Engagement
We educated over 1 crore individuals about crypto through targeted campaigns and conducted Web3 and crypto education initiatives across 20+ cities. Unfold 2024 and Namaste Web3 brought together 10,000+ enthusiasts, fostering knowledge-sharing and innovation.
5. Technological Innovations
Bharat Custody, India’s first homegrown custody solution, was launched to secure digital assets, while our INR futures trading feature eliminated USDT conversions, simplifying the trading process for Indian users.
Market Insights and User Trends in 2024
- Trading Activity: ₹37,444 crore in total spot trading volume, with an average daily trading volume of ₹102 crore.
- Investor Behavior: The average age of investors rose to 31 years, signaling the maturing demographic of crypto participants.
- Top Tokens: Bitcoin remained the most traded and held token, while Ethereum gained traction among women investors.
Milestones that Defined 2024
- Bitcoin’s Historic High: Bitcoin crossed $100,000, driving significant market enthusiasm.
- Web3 Mode: Enabled seamless INR transfers, granting access to 50,000+ tokens.
- Hackathons: Asia’s largest Unfold’24 hackathon saw over 8,700 applications.
- VIP Growth: High-net-worth investors rose by 442.86%, highlighting increasing institutional participation.
- Launch of Futures Trading: Brought efficiency and reduced costs to crypto futures trading in India.
The Road Ahead
As we step into 2025, we’re motivated to drive innovation, expand our reach, and empower every Indian investor. With the groundwork laid in 2024, CoinDCX is poised to redefine possibilities in the coming year.
Conclusion
The CoinDCX 2024 Year-End Report showcases a transformative year for India’s crypto journey. From groundbreaking milestones to unwavering commitment to security and education, this year reaffirmed our vision to build a trusted, transparent, and inclusive ecosystem. Dive into the full report to explore how we’re shaping the future of crypto in India and beyond.
