Ludhiana, 13th December 2025: CoinSwitch, India’s largest crypto trading platform, today released the 2025 edition of its flagship report, India’s Crypto Portfolio: How India Invests. Based on the insights from over 2.5 crore users, the report highlights a significant trend: India’s crypto participation is steadily expanding beyond the metros, with cities like Ludhiana playing a critical role in this shift.
This year’s edition takes a deeper look at state-level trends. Punjab ranks 13th nationally, reflecting the state’s growing interest in digital assets. Among all cities in Punjab, Ludhiana emerged as the No. 1 contributor, underscoring its position as the state’s most active and engaged crypto-adopting market.
India’s crypto ecosystem continues to be youth-driven, and Ludhiana mirrors this broader national trend.The city’s investor base remains dominated by younger participants, although gender distribution shows clear room for expansion. Women currently represent 9.6% of Ludhiana’s crypto investors, while men account for 90.4%.
“2025 has been a year of clear maturation for India’s crypto market,”said Ashish Singhal, Co-founder, CoinSwitch.
“We are seeing investors move beyond early excitement and make more informed, conviction-led decisions. While metros continue to drive strong interest, the broader story of adoption is unfolding across India’s non-metro geographies, which now account for over 75% of the country’s crypto activity. The same momentum is visible in the Indian equity markets, where non-metros continue to rise and are poised to deliver the next million investors.”
Ludhiana’s investment patterns also highlight a balanced yet growth-oriented risk preference. The city recorded a 32.1% allocation to large-cap assets, along with a 33.3% allocation to small-cap assets, among the highest small-cap exposures within Punjab. Mid-cap assets comprised 21.0% of portfolios, while blue-chip investments stood at 13.6%. The distribution suggests that Ludhiana’s investors maintain exposure to stable categories while showing a strong appetite for higher-growth opportunities.
Overall, the report shows that crypto adoption is growing across India. Punjab’s 13th-place ranking and Ludhiana’s leading position within the state highlight the region’s increasing interest in digital assets. With rising participation from Tier 2 and Tier 3 cities, Ludhiana continues to be a strong driver of Punjab’s crypto growth.
Key Highlights:
● Bitcoin (BTC) regained its top position as the most-invested asset with an 8.1% allocation, surpassing Dogecoin (DOGE).
● Ripple (XRP) saw one of the biggest jumps in activity this year, becoming one of the most traded coins on the platform.
● India’s crypto activity peaks late at night, with 10:00 PM to 11:00 PM being the busiest trading hour.
● January was one of the most active months for crypto investors.
● January 19th emerged as the busiest trading day of the year, driven by a BTC upswing earlier in the week.
Note: These insights are based solely on CoinSwitch user data and do not reflect trading or investment activity on other platforms.
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About CoinSwitch
Founded in 2017, CoinSwitch is India’s largest crypto trading platform and a pioneer in shaping the country’s crypto ecosystem. With over 2.5 crore users, CoinSwitch operates a regulatory-compliant platform that simplifies and enhances crypto trading for both retail and professional investors.
Backed by global investors such as a16z, Coinbase Ventures, Tiger Global, and Sequoia Capital India to the tune of $300million, CoinSwitch offers 400+ coins on its platform. CoinSwitch is ISO/IEC 270001: 2022 certified and Financial Intelligence Unit (FIU-IND) registered.
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