26-35 year-old's drive crypto craze in India; Kolkata tops portfolio gains

Millennials are emerging as the flag bearers of crypto investment in India, according to a report compiled by crypto trading platform CoinSwitch. The report, titled India’s Crypto Portfolio: Q2 2025, revealed that individuals under the age of 35 make up 71.7 per cent of all crypto investors. Among them, 27.3 per cent fall in the 18 to 25 age group, 44.4 per cent are between 26 and 35 years, 20.1 per cent fall within the 36 to 45 range, and 8.2 per cent are above 46.

Global acceptance on rise

Once dismissed as a counterculture fad, cryptocurrency is increasingly being accepted as a legitimate asset class. The report cites global developments such as former US President Donald Trump’s pro-crypto stance, proposals for a US Bitcoin reserve, and the European Union’s implementation of the MiCA (Markets in Crypto-Assets) regulations as evidence of a shifting global perspective.

 

 

In Asia, Hong Kong has approved Bitcoin ETFs; Vietnam is on track to legalise crypto; and Thailand has announced a five-year tax exemption on personal income from crypto gains. In emerging markets like India, grassroots-level adoption continues to grow steadily.

Bitcoin remains most preferred crypto asset

According to the report, Bitcoin (BTC) retained its position as the most preferred crypto asset among Indian investors, capturing 6.5 per cent of overall investor interest. Dogecoin followed closely with 6.49 per cent, while Ethereum garnered 5.2 per cent. These three also led investor preferences in Q1 2025.

 

Meme coins made up 13.2 per cent of total crypto investments, with Dogecoin leading the category, followed by Shiba Inu (4.7 per cent) and PEPE (2 per cent).

 

Bitcoin was also the most traded asset during Q2 2025, contributing 7.2 per cent to trading volume. Ripple (XRP) and Ethereum (ETH) followed with 4.2 per cent each. In Q1, XRP, BTC, and DOGE together accounted for 28.1 per cent of all trading activity.

 

“Bitcoin’s strong performance in 2025—rising over 26 per cent since the beginning of the year—has further cemented its reputation as ‘digital gold,’ outperforming traditional asset classes,” said the report. READ FULL REPORT HERE

Kolkata leads in portfolio gains

The report highlighted that over 26.6 per cent of India’s total crypto investments are concentrated in the three largest metro cities: Delhi (14.6 per cent), Bengaluru (6.8 per cent), and Mumbai (5.2 per cent).

 

Among the top 10 cities, Kolkata had the highest percentage of portfolios in the green, with 75.61 per cent of investors reporting positive returns.

 

Meanwhile, Tier 2 and Tier 3 cities such as Jaipur, Lucknow, and Patna are witnessing strong adoption; this points to growing grassroots-level participation. “This shift signals how crypto awareness and participation are expanding beyond Tier 1 cities,” the report noted.

Investment trends in Q2 2025

In terms of investment categories, Layer 1 tokens led the quarter with a 35.52 per cent share of total interest, followed by meme coins at 19.50 per cent. DeFi and gaming tokens also gained traction, while Layer 2 tokens came in fifth. Together, these categories accounted for over 81.08 per cent of total crypto investments during the quarter, indicating evolving investor preferences, said the report.