India’s crypto participation is becoming younger and more geographically distributed, with ZebPay data showing strong registration growth among Gen Z and users outside major metros during the first half of 2026. More than 120,000 users joined ZebPay between January and June, according to its The State of Crypto in India: H1 2026 Review & H2 Outlook report. Users aged 18-24 represented nearly 50% of new registrations.
Gen Z buy volumes were nearly 10 times their sell volumes, while Solana emerged as their preferred crypto asset. Across ZebPay’s broader user base, crypto purchases exceeded sales by around 7% during H1.
According to Rahul Pagidipati, Chief Executive Officer, ZebPay, “In India, investors are demonstrating a more informed and disciplined approach, focusing on portfolio diversification and long-term wealth creation rather than short-term trends alone.”
Smaller Cities Expand Their Share
Tier-2 and Tier-3 markets generated around 62% of new registrations, including 41% from Tier-2 locations and 21% from Tier-3 markets. Metro or Tier-1 markets contributed the remaining 38%.
Tier-3 markets were also the only segment to record an increase in average spot order size during the period, showing that growing participation outside major cities extended beyond registrations.
Holding Dominates User Behavior
Around 63% of users held crypto without executing trades during H1, while another 29% traded while continuing to hold assets. Users active during all six months generated around 21 times the trading volume of those active for only one month.
Around 85% of active users participated in spot markets, while approximately 72% used two or more platform features.
Bitcoin Retains a Strong Position
Bitcoin Maximalists represented the largest portfolio archetype at 30%, followed by Legacy Altcoin Holders at 17.3% and Diversified Explorers at 15%.
USDT remained the leading spot trading pair, while Bitcoin, Ethereum, XRP and Solana completed the top five. Layer-1 assets accounted for nearly 90% of categorised trading volume, with Bitcoin generating nearly four times Ethereum’s trading volume despite attracting a similar number of traders.
Final Thoughts
ZebPay’s data points toward younger participation, wider geographic distribution and accumulation-focused behavior. However, the figures reflect activity on ZebPay rather than India’s entire crypto market, making the report a platform-level snapshot of changing investor behavior.
Also Read: India’s Crypto Wave Turns Younger as Gen Z Fuels New User Growth
Disclaimer : Crypto News India does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
