Crypto exchanges serving Indian traders see no reason to panic despite the dominance of bearish sentiment in the market.
As Business Insider India clarifies, local trading platforms, on the contrary, are actively developing infrastructure for transactions with digital currencies. The exchanges were not upset at all, but on the contrary, they are preparing for a new rally.
CoinSwitch Kuber CEO Ashisha Sinhala said: “The bear market allows us to further strengthen security and work to educate people about the new asset class."
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The CoinDCX and WazirX platforms are also in a positive mood and are preparing for the market's return to the green zone.
Sumit Gupta, head of crypto exchange CoinDCX, stressed that the development of the industry would accelerate if India has a regulatory framework to regulate transactions on the crypto market. In the meantime, crypto companies are forced to adapt to the conditions in force in the country.
Despite the tough attitude of the Indian authorities towards the cryptocurrency market, the number of citizens investing in bitcoin and other coins continues to grow in the country. According to Chainalysis, Indian traders' investment in cryptocurrency has reached $ 40 billion.