Bigger India
Very, very dull: What happened to India’s white-hot cryptocurrency market
From a peak of 15,000 units per day towards the end of 2017, cryptocurrency trade in India has declined by almost 90% to a mere 1,500 units as of March 2018, industry experts say.
A chill has set into the cryptocurrency market, especially in India.
Tightening regulation and policy ambiguity have sucked the life out of trading in the past few months, though industry insiders say the phase may be temporary.
“The market is very, very dull,” said Sathvik Vishwanath, co-founder and CEO of Unocoin, a bitcoin exchange.