Crypto Exchange WazirX closes 2023 with more than a billion users

Interestingly, women accounted for 22% of the overall trading volume on the platform.

WazirX, India's top cryptocurrency exchange, has announced the release of its annual trading activities report for 2023, which includes fascinating insights on user growth, digital asset ownership, and reflections on the different key global events impacting the cryptocurrency market.

After the analysis of WazirX's rising user base and shifting demographics, the report’s highlights are the volume of one billion users by November 30 and extensive documentation of the monthly activities affecting the trading of the leading tokens across cryptocurrency exchanges. The website provides a safe and simple way to purchase, sell, and exchange cryptocurrencies such as Bitcoin, Ethereum, Ripple and many others.

According to the press release, WazirX's crypto trading platform has seen an amazing increase of an estimated six lakh new customers. Age, location, exchanged tokens, volumes, and other parameters were included in the analysis. According to user behaviour data, the most popular tokens exchanged on WazirX's exchange were Bitcoin (BTC), Shiba Inu (SHIB), Ripple (XRP), Ethereum (ETH), and Polygon (MATIC).

According to the report, the states with the most traders are Uttar Pradesh, Maharashtra, Tamil Nadu, Gujarat, and Haryana, while the states with the largest trading volumes are Tamil Nadu, Uttar Pradesh, Maharashtra, West Bengal, and Haryana. Interestingly, women accounted for 22 percent of the overall trading volume on the platform, with women aged 21-40 years accounting for 83 percent of the total volume transacted by all women users. In the case of men, 76 percent of all men users on the platform were between the ages of 21 and 40.

Previous year's trends and patterns reflect users' preference for Shiba Inu, which, along with Bitcoin, emerged as the top-performing token on WazirX's exchange. Based on trading on global crypto exchanges and its platform, the report concludes that market anxiety, uncertainty, doubt, and social media all play important roles in determining crypto market sentiment.