Around 51.5% of crypto investors’ portfolios are now held in Bitcoin (BTC) and Altcoins, indicating a shift toward long-term investment strategies, according to Bengaluru-based crypto exchange CoinDCX's report for the year 2024.

Among crypto assets, tokens like SUI (374.30%) and DOGE (338.60%) led gains with valuations exceeding $10 billion, says CoinDCX data, while meme-coin Popcat saw an unprecedented rise (14,844%), underscoring the dynamic and volatile nature of the crypto market. The crypto exchange says it saw a significant increase (159.65%) in trading volume in the year 2024, and that there was a more than three-fold surge in assets under management (AUM).

From January 1, 2024, to November 5, 2024, total investments on the exchange reached $2.94 billion, averaging $9.5 million daily. From November 5 to December 10, post-US election results, investments climbed to $1.2 billion in just 34 days, with a daily average of $35.3 million. Tier-2 cities accounted for 40% of nationwide crypto activity on the exchange, while Delhi and Mumbai led with a combined 22%.

The report says women represent 20% of CoinDCX’s high net-worth individuals (HNI) customers, with Delhi (28.3%), Lucknow (19.16%), and Hyderabad (16.5%) driving the trend on the back of ETH, BTC, MATIC, and DOGE, among their preferred tokens.

“As we close the year, one message stands out clearly—the maturation of investors and the industry itself. This year’s data demonstrates not just the resilience of the crypto market but also the increasing confidence of investors who are building balanced portfolios for long-term growth. This transformation fuels my confidence in the future of digital assets and their role in reshaping global finance," says Sumit Gupta, Co-founder of CoinDCX.

Notably, in 2025, many IPOs from U.S.-based crypto and Web3 ecosystems are expected to reshape the crypto landscape by enhancing transparency and attracting institutional investors. "This influx of investment (for these IPOs) will not only boost confidence in the sector but also provide investors with clearer insights into its financial health, growth prospects, and long-term viability," says the company.

Uncertainty over crypto regulatory landscape in India

Indian government’s approach to crypto also remains “cautious”. Cryptos are not regulated in India, meaning investors trade at their own risk. The government says it has no plans to bring a law to tax crypto transactions -- though there's a 30% tax on overall profit and 1% TDS -- leaving its future uncertain in India. While the RBI has time and again warned about cryptocurrencies' volatile nature, the government said there's no timeline anticipated for the introduction of "comprehensive regulatory guidelines" for the crypto industry in India. With crypto gaining ground in the U.S. after the November elections, India, along with other countries, is expected to evaluate country-specific characteristics and risks, and engage with standard-setting bodies and the G20 to around consider necessary measures for crypto assets.

The government in March 2023 had brought digital assets under the purview of the Prevention of Money Laundering Act, 2002 (PMLA). Income from these assets is also taxed under the Income-tax Act, of 1961, and different aspects of the VDA sector are regulated under the Information Technology Act, of 2000, and the Companies Act, of 2013. During India’s Presidency of the G20 last year, the International Monetary Fund (IMF) and Financial Stability Board (FSB) Synthesis Paper, along with the ‘G20 Roadmap on Crypto Assets,’ was also adopted. The paper provides a comprehensive policy and regulatory framework for crypto assets, addressing risks, including those specific to emerging markets and developing economies.