Indian Investors Rush to Hoard Crypto After Trump’s Reserve Proposal

Indian investors are rejoicing with President Donald Trump’s announcement of a national cryptocurrency reserve, thus spiking trading across the country’s crypto exchanges. The inclusion of Bitcoin, Ether, XRP, Solana, and Cardano as part of a strategic reserve in the United States was enough to reignite investor sentiments and boost investments in the digital assets market.

Investment Surge Across Indian Exchanges

Following Trump’s statement, Indian crypto exchanges saw a remarkable surge in trading volumes, increasing activity by 20-30%. CoinSwitch, with a 32% spike in daily trading volumes, reported a 20% rise in daily active users. Also, Mudrex saw a rise in trading volumes by 30%, as investors flocked in to benefit from the renewed market momentum.

Experts comment that market participants mainly started trading out of investor optimism, especially since the market has shifted from a consolidation mode of late. Many investors took the rise as a welcome platform to pocket some profit and add to further activity within the market.

Global Crypto Platforms Experience Record Activity

Apart from India, Trump’s proposal has made a gigantic impact around the world in trading platforms. CoinDCX reported an unprecedented rise in activity, causing temporary service disruption. According to data from CoinMarketCap, Solana (SOL) and XRP surpassed Bitcoin (BTC) as the most traded cryptocurrency on CoinDCX, worth 46.7% of the total reserves on the platform.

These developments underscore how Trump’s crypto-friendly stance has permeated the trading landscape worldwide. They suggest the ever-increasing mainstream acceptance of digital assets.

India’s Crypto Revival After Market Slump

The newest bull run comes after a period of regression in India’s crypto sector, mostly due to the new tax imposed by the government in 2022. As imposed by the government, tax is taxable under a section this financial year at the rate of 30%. Also, that 1% tax deducted at the source on transactions from 2022 was indeed a complete kill for the traders, making them give up volumes.

However, the recent developments on the global front, mostly driven by Trump going pro-crypto, have indeed brought optimism back into the market. Despite this resurgence, industry leaders caution that current trading levels are still far from the peaks witnessed during the 2021 crypto bull run. Though the latest round of inflows indeed points to revived interest, market participants believe sustained growth will rest upon the premise of favorable regulatory clarity and broader adoption.

Trump’s Strategic Crypto Initiative

Within the confines of a discussion on the crypto reserve proposal decided upon by Trump, it reaches audiences on March 7, right on the heels of this highly publicized White House cryptocurrency summit. In keeping with a little build-up to the occasion, the President of the United States has taken to social media to communicate his vision for a national digital asset reserve that includes Bitcoin, Ether, XRP, Solana, and Cardano.

The Indian investors are eagerly awaiting a lenient regulation of cryptocurrencies amidst all the buzz surrounding the regulations in the world of cryptocurrency, which will provide additional positivity to the industry outlook.