India witnessed a surge in crypto trading volumes, reaching $1.9 billion in Q4 2024, a significant jump from the previous quarter. This growth is attributed to investors from smaller cities seeking alternative investment options amidst sluggish job growth and stagnant wages. Notably, Edul Patel, co-founder of Mudrex, points to stricter stock market regulations and increased awareness about cryptocurrencies as drivers behind this shift. Many young Indians who previously engaged in traditional stocks and derivatives are now turning to crypto as a viable income source. 7 of the top 10 cities leading India’s crypto boom were located in smaller urban areas such as Jaipur, Lucknow, and Pune, where residents increasingly see digital assets as an added income stream.