A new study from Indian cryptocurrency exchange CoinDCX reveals a significant shift in investor behavior, with users adopting broader, more diversified portfolios in 2025. The data indicates a maturation of the market as participants move away from a "crypto equals Bitcoin" mindset toward structured, long-term allocation strategies.
The report shows the average CoinDCX user now holds about five different assets, a notable increase from just two or three in 2022. Portfolio composition has diversified significantly, with layer-1 network assets accounting for over 40% (specifically 43.3%) of activity. While still significant, Bitcoin's (BTC) share has settled around the mid-twenties (26.5%). The study also noted that memecoins represent 11.8% of user allocations.
CoinDCX co-founder Sumit Gupta stated that digital assets are becoming a "natural next frontier" for Indian traders already comfortable with traditional financial assets like equities and mutual funds. He emphasized that crypto is increasingly being integrated into broader financial strategies, supported by improved market analytics and educational resources.
Demographic trends show the typical investor is now 32 years old, with Millennials forming the dominant user segment. While Gen Z users remain active in speculative areas like new token launches, NFTs, and layer-2 ecosystems, their platform adoption is being outpaced by older cohorts. A key finding is that female participation on the exchange doubled year-over-year, with these investors diversifying beyond BTC and Ether (ETH) into assets like Solana (SOL) and Sui (SUI).
The report acknowledges that while India shows strong mobile wallet adoption—a key indicator of widespread crypto use—it still exhibits low levels of on-chain activity and token-related web traffic. Gupta described this as India's adoption being "wide" but currently lacking "depth," indicating significant room for growth through education and innovation. The study concludes that the Indian market is evolving toward more intentional and diversified crypto investing, aligning with global trends.
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