Bitcoin reclaims $1 trillion cap, Indian crypto players cheer

October 10, 2021
 
As Bitcoin once again reclaimed the $1 trillion market cap, crossing $54,000 per digital coin, Indian crypto leaders on Thursday expressed hope that India and its neighbouring countries will continue their dominance because of the large number of active crypto investors in the region.
The Indian cryptocurrency market is expected to reach up to $241 million by 2030 in India and $2.3 billion by 2026 worldwide. According to a report by IT industry’s apex body Nasscom, there are 15 million retail investors in India investing in the cryptotech space.

Jay Hao, CEO, OKEx.com, said that during the slight dip last month, crypto-related investments witnessed record inflows owing to the growing global acceptance of crypto assets.

“The same momentum is boosting the prices of other popular crypto assets like Ethereum, Dogecoin and Shiba Inu, among others. India and its neighbouring countries are the main growth drivers of the crypto economy in South East Asia and they will continue their dominance because of the large number of active crypto investors in the region,” Hao noted.

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