Pune Ranks Fifth In India For Crypto Investments, Tops In Investor Returns
Pune, 21st December 2024: Pune has emerged as a leading city in cryptocurrency investments, ranking fifth among the top 10 cities in India, according to the recently released report, India’s Crypto Portfolio 2024: How India Invests, by virtual currency platform CoinSwitch. The city also boasts the highest returns for crypto investors among the top 10 cities in the country.
The report highlights Pune’s growing participation in digital assets, with 76% of its crypto investors being men and 24% women. Among investment preferences, large caps account for the highest share at 39%, followed by blue chips at 31%, mid caps at 26%, and small caps at 4%. Impressively, 86% of Pune’s crypto investors are in profit, with only 14% reporting losses.
Delhi, Bengaluru, and Mumbai lead crypto investments
The report revealed that Delhi, Bengaluru, and Mumbai are at the forefront of virtual currency investments in India, contributing 20.1%, 9.6%, and 6.5%, respectively. Hyderabad, Pune, and Jaipur follow closely, while Kolkata and Botad in Gujarat have made it to the top 10 for the first time, ranking ninth and tenth.
The report also indicates that stable digital assets like Bitcoin and Ethereum continue to dominate investment portfolios, with Bitcoin accounting for 7% and Ethereum for 6% of investments. Meme coins hold a significant 13% share, with Dogecoin leading the category at 55%. Notably, PEPE emerged as one of the top-performing assets this year, recording an extraordinary growth of 1,300%.
Young investors drive India’s crypto growth
The majority of cryptocurrency investors in India are under 35 years of age, representing 75% of the total investor base. Additionally, there is a steady rise in investors aged 36 to 45. However, the participation of women investors remains relatively low, constituting only 11% of the total.
India’s crypto investment breakdown (percentage contribution by city):
Delhi: 20.1%
Bengaluru: 9.6%
Mumbai: 6.5%
Hyderabad: 5.1%
Pune: 3.5%
Jaipur: 3.3%
Thane: 2.6%
Lucknow: 2.4%
Kolkata: 2.1%
Botad: 1.9%
Others: 42.9%
Bitcoin breaks $100,000 mark
In a significant milestone for the cryptocurrency market, Bitcoin crossed the $100,000 mark this year, signaling strong growth prospects for 2025. “Judging by this year’s performance, the crypto sector is poised for continued growth and could reach new heights next year,” said Balaji Srihari, Vice President at CoinSwitch.
