PEPE emerges as top performing asset: Here is India's crypto portfolio

Cryptocurrency investment: Indian investors are at the forefront of global cryptocurrency adoption, with a recent report by CoinSwitch revealing that PEPE has emerged as the top-performing asset in the portfolios of Indian crypto investors, experiencing a remarkable surge of over 1300%.

In a year that saw Bitcoin reach unprecedented heights of $100,000, Indian investors showed a strong interest in meme coins, with Dogecoin being the most favored for investment and SHIB leading the way as the most traded coin. PEPE's exceptional performance, with a growth of 1300% in 2024, further highlights the enthusiasm of Indian investors in the crypto market.

The report also highlighted that Delhi-NCR has maintained its position as the leader in crypto adoption for the third consecutive year, followed closely by Bengaluru and Mumbai.  

“The year 2024 has been a huge year for the global crypto ecosystem, driven by big political and regulatory changes that have sped up mainstream growth. At CoinSwitch, we’ve witnessed a spike in crypto investment across India. What was once concentrated in major metros is now quickly expanding to Tier-2 and Tier-3 cities, reflecting the growing appeal. Indian investors are diversifying their portfolios, exploring everything from meme coins to Layer-1 and DeFi tokens, signaling an evolving appetite for crypto assets. With Bitcoin crossing the $100,000 mark to close out the year, it sets the stage for an exciting journey of growth in 2025. We’re confident that the coming year will build on 2024’s successes and take the industry to new heights.” said Balaji Srihari, Vice President, CoinSwitch. 

Other key details
 
The report further highlights the following trends in the crypto space for 2024: 

> Kolkata and Botad have recently made it to the top 10 cities in terms of cryptocurrency adoption, claiming the 9th and 10th positions, respectively.
> Pune stands out among the top 10 cities with the highest percentage of positive portfolio returns, with 86% of its investors seeing gains.
> Tier 2 and Tier 3 cities such as Jaipur, Lucknow, and Botad showed significant growth in cryptocurrency adoption, indicating strong grassroots support.

Investors' profile and choice

Investor demographics in the crypto space show that individuals under the age of 35 make up the majority, accounting for nearly 75% of investors. The 36-45 age group is also seeing steady growth in adoption. However, there is a noted lack of inclusivity, as only 11% of investors are women, highlighting an opportunity for improvement in this area.

Regarding preferences, Bitcoin (BTC) and Ethereum (ETH) hold the 2nd and 3rd positions in investor choices, with 7% and 6% respectively. Meme coins make up 13% of all crypto investments, with Dogecoin leading the pack at 55%, followed by PEPE and BONK.