ZebPay added more than 120,000 users in the first half of 2026, with young adults and people in smaller cities accounting for much of the growth. However, 63% of its users made no trades during the six months. The exchange’s figures show a gap between joining a crypto platform and trading regularly, but they do not establish why individual users stayed inactive.
Most Users Held Crypto Without Trading
ZebPay reported that 63% of its users held crypto but made no trades between January and June. Another 29% both held assets and traded during the period. The figures describe activity on ZebPay; they do not measure all crypto users in India.
A user can hold assets bought earlier without placing a new order. The report does not explain each user’s reason for making no trades. As a result, the 63% figure cannot show whether users were waiting for a price change, following a long-term plan, or simply taking a break from trading.
Young Adults Accounted for Nearly Half of Sign-Ups
People aged 18 to 24 made up nearly 50% of ZebPay’s new registrations in H1 2026. The exchange also reported that this age group bought nearly 10 times as much crypto as it sold. Solana was among the crypto assets they favored.
Those buying figures describe activity among younger customers who traded. They do not mean that every new user bought crypto or that young users intend to hold it for a set period. Registration, ownership and trading are separate measures, and the report does not give a reason for each customer’s choices.
Smaller Cities Drove New Registrations
Tier-2 cities accounted for about 41% of new ZebPay registrations, while Tier-3 cities contributed another 21%. Together, they made up 62% of new sign-ups. That put smaller cities at the center of the exchange’s user growth during the first half of the year.
New accounts did not translate evenly into trading activity across locations. According to the report, Tier-2 cities recorded the largest declines in active traders and trading volume. Trading volume from metro users, meanwhile, remained near its level in the second half of 2025. The difference shows why sign-up figures alone cannot describe where trading is taking place.
USDT Led Trading on ZebPay
USDT was ZebPay’s most traded crypto asset in H1 2026, followed by Bitcoin, Ethereum, XRP and Solana. Its lead shows what users traded most on the platform during that period. It does not, by itself, show why they chose USDT or how long they kept it.
Across its users, ZebPay reported 7% more crypto buying than selling in H1 2026. Combined with the share of holders who made no trades, that points to lower trading activity than the rise in registrations might suggest. The available figures leave the question in the headline open: ZebPay recorded what users did but did not determine why most avoided trading.
Also Read: JPMorgan CEO Jamie Dimon Says India Could Triple in 10 Years: What it Means for Crypto
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.
