Uttar Pradesh Leads India's Crypto Boom

Uttar Pradesh has emerged as India's largest crypto market, representing 12.9% of total investment on the CoinSwitch platform in Q2 2026. Maharashtra followed with 12.4%, indicating a significant spread of digital asset adoption beyond traditional financial centers. This shift highlights a growing crypto presence in smaller cities and states across the country.

Young Indians are significantly fueling new crypto participation, with 54.4% of new investors in Q2 being between 18-25 years old. However, this age group also sold more crypto than they bought. Conversely, investors aged 46 and above showed the strongest buying conviction. Older investors are also more likely to build diversified portfolios, holding a larger number of different cryptocurrencies compared to younger participants.

Despite generational differences in market entry and portfolio strategy, Bitcoin and Dogecoin remain the most popular cryptocurrency combination across all age groups. Trading activity peaks in the evening, particularly between 10 PM and 11 PM. Andhra Pradesh stands out with Dogecoin as the top crypto and the highest female participation in crypto investment among the top 10 markets, showcasing increasing diversity in the Indian crypto landscape.