Tier-2 Cities & Women Investors Fuel India’s Crypto Surge
India’s crypto market is undergoing a major transformation, with investors moving away from a Bitcoin-first mindset and adopting diversified, research-driven portfolios. CoinDCX’s annual report 2025: The Story of Crypto in India shows that the average user now holds five tokens, signalling stronger awareness of blockchain use cases. Ethereum and other Layer-1 tokens together account for more portfolio volume than Bitcoin, reflecting rising interest in decentralised applications and real-world utility.
A significant shift is happening outside major metros, as 40% of India’s crypto users now come from Tier-2 and Tier-3 cities. Pune, Jaipur, Lucknow, Bhopal, Guwahati and Chandigarh are among the fastest-growing hubs, with some cities recording a jump where Ethereum trading even surpassed Bitcoin. The average investor age has risen to 32, indicating participation from more financially stable and informed users.
Women investors have doubled in number this year, supported by better educational platforms and simplified trading experiences. Kolkata leads women participation, followed by Delhi and Mumbai, with strong growth also seen in Kochi, Vadodara and Bhubaneswar. Female portfolios are highly diversified, spanning Bitcoin, Ethereum, Solana, Polygon and other networks. CoinDCX co-founder Sumit Gupta says India’s next crypto phase will be driven by research and institutional adoption, not just price cycles, as global hedge funds deepen their digital asset exposure.
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