Investors Rush To Buy Crypto During Massive Price Dip
Cryptos to take note of in this dip
In the wake of global volatility owing to the ensuing war in Ukraine, and uncertain economic downturn in the US, there is a growing demand for virtual assets. The call for more virtual assets has seen a rise in daily traded volume hovering around the $100 billion mark.
The digital token market is regaining its mojo, with rising investor interest, after a tumultuous start in 2022 for crypto assets. In the last few weeks, major crypto assets have witnessed a significant increase in value.
There has been noticeable changes in stablecoins, and in general all top 10 digital tokens. The leading tokens have seen more than 20 percent in the last week. Terra saw a 75 percent increase, while Ethereum and Bitcoin saw a 25 percent increase.
In recent data published by India’s leading exchange, there are several domestic investors who are adding to their digital asset portfolio. Part of the reason for this has been the recent budget announcement which many feel as a huge boost for the crypto community
According to market observers and keen analysts, the dominance of millennials and generation Z has come to an end. The crypto market is now an all inclusive market with no barrier of entry. According to Gaurav Dahake, CEO and Founder of Bitbns, the number of users over 35 years old has recently surged.
“Investors are growing mature in terms of crypto investments,” he added. “They are not panic selling on dips and are cautious over their investments.”
Minal Thukral, Executive Vice President, Growth, and strategy, CoinDCX said people are no longer selling . “A number of investors are buying the dip. With the market rebound, there is a slight increase in the sell ratio.”
Smaller cities and villages have witnessed a spike in volumes, leading the purchasing on dips, according to exchange statistics. In addition, top cities have remained unchanged for some time and continue to buy the dips.
Top tokens like Bitcoin, Ethereum, Dogecoin, Shiba, and Solana continue to rank as enticing propositions for Indian investors. Other emerging trends include NFTs and Metaverse.
“We continue to see a high interest in NFT tokens like Decentraland (MANA) and The Sandbox (SAND),” said Thukral from CoinDCX. “Gala (GALA), Anchor Protocol (ANC), and Uma (UMA) are other tokens gaining investors’ interest,” he added.