New Delhi: WazirX, the cryptocurrency exchange, said Thursday that its trading volume jumped 1,735% year-over-year (YoY) to more than $ 43 billion in 2021.
This exceptional performance of the company is explained by the prices of bitcoin, one of the most popular cryptocurrencies, and other digital tokens which have seen a massive rise in the past year.
WazirX, highlighting the demographic breakdown of its user base, said 66% of its total subscribers are under 35. The number of new users rose 1,009% from an 829% growth recorded in an increase in male registrations this year, the company said.
“There was also a 700% increase in the number of participants from small towns such as Guwahati, Karnal, Bareilly; thus signaling the growing interest of rural and semi-urban areas, ”WazirX said in its statement.
Amid the non-fungible token (NFT) rage, WazirX NFT Marketplace also saw a huge turnout as over 962 creators minted 12,600 NFTs and sold over 5,267 worth over 262,896 WRX ( approx Rs 2.4 crore) in 2021 so far.
Nischal Shetty, CEO of WazirX, “The public is evolving and recognizing crypto as an emerging alternative asset class. Central government push towards a regulated approach to crypto would put India on the world map along with others developed countries dealing with crypto. This, together with a strong institutional stake in crypto, would go a long way in shaping the future of this popular asset class in India and helping us to become Atmanirbhar Bharat.
The company launched its NFT marketplace in 2021, recording net sales of NFT amounting to WRX 2,05,126.66. The platform has a creator-to-collector ratio of 1:53, with a total of 737 creators and 481 collectors.
The numbers indicate the growing participation in blockchain-based NFTs. Witnessing unprecedented growth, the net NFT hit and sold by artists on the platform stood at 8,317 and 4,056 respectively, for a ratio of 2:05.
Recently, WazirX released its transparency report and blockchain documents disclosing details of adoption and proactively blocking accounts over the past six months.
<—-ALSO READ—->
Leena Nair got a big honor
