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Shiba Inu (SHIB) and Polygon (MATIC) are two of India’s most popular cryptocurrencies

According to The Times of India, ZebPay, India’s oldest cryptocurrency exchange, Shiba Inu (SHIB) and Polygon (MATIC) were among the most traded cryptocurrencies with Bitcoin in 2021.

According to U.Today, ZebPay listed Shiba Inu just as the coin’s enormous price increase was about to begin in late October.

Shiba Inu and its rival Dogecoin were among the most traded cryptocurrencies of the year, according to WazirX, another prominent Indian crypto trading site. Trading volume has increased by 1,735 percent overall on the market. Women preferred trading Bitcoin, according to a survey published by WazirX earlier this month, while men liked trading Shiba Inu.

This year, the exchange’s user base grew by 130 percent, with millennials accounting for the majority of all users.

Despite having a record-breaking year, ZebPay CEO Avinash Shekhar believes that cryptocurrency is still in its infancy:

“We have seen significant growth in investors interested in crypto this year and the trend isn’t slowing down.”

He also mentions how governments all around the world are warming up to cryptocurrency.

No India Crypto Bill

The cryptocurrency ecosystem in India is still in limbo as the government struggles to address the crucial problem of regulation. According to local media, the contentious crypto measure, which was supposed to be introduced during the winter session of parliament, will now be debated next year.

A bulletin dated November 23 suggested placing a blanket ban on all private cryptocurrencies. NDTV, on the other hand, reported in early December that the government intended to regulate cryptocurrencies rather than prohibit them.

Given India’s massive population of 1.4 billion people, the country’s booming crypto sector is ready for disruption.

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Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.