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XRP Dominates Indian Exchange Trading Together With Bitcoin

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Fri, 3/11/2023 - 15:45
XRP Dominates Indian Exchange Trading Together With Bitcoin
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Bitcoin (BTC) and Ripple-affiliated XRP were the two most traded cryptocurrencies on the Indian WazirX exchange this October.

Alongside them, native exchange token WRX, meme-based Shiba Inu (SHIB) and LOOM complete the top five. This set of coins shows a diverse yet distinct preference among Indian crypto traders.

Longstanding preference for XRP and SHIB

Historically, XRP and SHIB have been dominating on the WazirX exchange for years, caring out a significant niche among traders. 

As reported by U.Today, these coins also ended up being at the top in September.  

November is also off to a great start for these two cryptocurrencies. Data from CoinGecko reveals that SHIB and XRP are among the top-performing pairs over the last 24 hours on the exchange. 

Navigating regulatory hurdles

WazirX has recently published its fifth transparency report, detailing the measures it has taken to ensure a secure and compliant trading environment for its customers. One of the standout statistics from this report is the exchange's swift 22-minute average response time to inquiries from regulators and government agencies. 

The exchange has also rolled out several new features designed to enhance user experience and facilitate trading. 

Additionally, WazirX has updated its platform with a "New Listings" section to keep users informed of the latest token additions, signifying its proactive stance in a rapidly evolving market.

The exchange's CEO, Nischal Shetty, anticipates that it could take another two to three years for substantial regulatory frameworks to materialize. 

In the meantime, WazirX is not sitting idle; it is exploring new revenue models and avenues for growth.

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