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XRP and Shiba Inu Dominate Trading on Leading Indian Crypto Platform

Tue, 09/05/2023 - 18:46
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Alex Dovbnya
Shiba Inu (SHIB) and XRP continue to ride high on WazirX, one of India's leading cryptocurrency exchanges
XRP and Shiba Inu Dominate Trading on Leading Indian Crypto Platform
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Cryptocurrencies Shiba Inu (SHIB) and XRP have consistently been among the top-traded assets on WazirX, one of India's leading cryptocurrency exchanges. According to a recent tweet from the exchange, both SHIB and XRP were among the top three most traded digital currencies for August, along with Bitcoin. 

The revelation follows a trend that was also observed in June and July, where these tokens performed remarkably well, trading hand-in-hand with Bitcoin, the leading cryptocurrency by market capitalization.

Shiba Inu's Kusama Reacts to 'Rude' ShibSwap Demand

This is not the first time Shiba Inu has made headlines on WazirX. Back in January, the exchange released its proof of reserves, revealing that Shiba Inu accounted for an impressive 19.07% of all its tokens.

Top-performing pairs

CoinGecko data provides more granular insights into trading volumes on WazirX. The 24-hour trading volume on the platform stands at $798,882 with 225 coins and 449 pairs. Among these, Tether (USDT) and Bitcoin (BTC) took the lead, with trading volumes of $181,028 and $157,751 respectively. 

They were followed by Shiba Inu and XRP, echoing the tweet from the exchange about their sustained demand among Indian traders.

WazirX's complex ownership saga

WazirX offers a slew of digital currencies and supports both crypto-to-crypto and fiat-to-crypto transactions. 

The platform has been a key part of India's flourishing crypto market, despite facing recent controversies surrounding its ownership and alleged involvement in financial irregularities. 

Earlier this year, questions arose about whether Binance actually owned WazirX, with both companies presenting conflicting narratives.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at