Indian crypto exchanges saw spot trading volumes rise over 20% during the past week as Bitcoin approached $80,000. CoinDCX, CoinSwitch, WazirX, Mudrex and Giottus recorded stronger trading activity across India as Bitcoin gained momentum. The rally revived retail and institutional interest through higher spot buying and broader token participation.
Bitcoin reached nearly $80,000 last week before settling around $77,000 on August 24. US policy signals, stronger Bitcoin ETF inflows and short covering helped fuel the rally across global markets. US spot Bitcoin ETFs attracted nearly $1.92 billion in weekly net inflows, while short liquidations exceeded $4 billion.
CoinDCX recorded the sharpest move among major platforms during the rally. Its spot volume climbed from nearly $5 million to around $13 million between August 19 and 21. Bitcoin trading volume also reached about $2 million on August 21.
Mudrex reported a 20% weekly increase in spot volumes as traders followed Bitcoin’s upward momentum. Giottus recorded a 22% rise in spot volumes, while average spot volume per trader increased nearly 10%.
Derivatives activity also accelerated, although futures showed stronger momentum than spot markets. WazirX reported almost seven times higher daily futures volumes between August 16 and 22. Giottus recorded a 31% rise in futures volumes during the period.
Altcoins also attracted stronger interest as the rally widened across Indian crypto markets. CoinSwitch reported higher demand for Ethereum, XRP, Dogecoin, Shiba Inu and Solana. Balaji Srihari said, “The broader participation is encouraging because it suggests the move is not restricted to BTC alone.”
Market participants remain cautious about the rally’s durability as Bitcoin approaches key resistance. Mudrex executive Prateek Gupta warned that leverage-driven activity could trigger a sharp pullback toward $65,000.
The latest surge shows stronger spot participation, while global liquidity and regulatory signals continue shaping India’s crypto market.
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