From Bitcoin to PEPE: A Deep Dive into India’s Q1 2025 Crypto Trends with CoinSwitch

India’s crypto investment landscape is evolving at a rapid pace, and the latest data from CoinSwitch provides a fascinating glimpse into the nation’s digital asset preferences. In its Q1 2025 report, CoinSwitch—India’s leading crypto trading platform—analysed investor activity across 310 listed tokens, revealing a mix of traditional trust in top coins and a growing appetite for newer, riskier assets. Bitcoin remains the gold standard for Indian crypto investors, accounting for 6.9% of all holdings on CoinSwitch. Close on its heels are Dogecoin (6.6%) and Ethereum (5.2%), underscoring the enduring appeal of established coins in long-term portfolios. Shiba Inu (4.2%) and Ripple (3.5%) round out the top five, with Cardano (3.3%), Polygon (2.9%), Internet Computer (2.8%), and Solana (2.3%) all maintaining strong positions. The surprise addition this quarter is PEPE, which has entered the top 10 holdings at 1.9%, replacing Loopring. The meme coin’s rise signals a broader trend among Indian investors: an increasing openness to emerging, high-risk assets that have the potential for viral gains.

Ripple Takes the Lead in Trading Activity

While Bitcoin may be the most held coin, Ripple (XRP) has unexpectedly emerged as the most traded digital asset in Q1 2025. Accounting for 13.3% of all trades, Ripple’s leap from ninth to first place indicates a renewed surge in trader interest, potentially linked to global developments around XRP’s legal clarity and adoption.

Bitcoin (8.4%) and Dogecoin (6.4%) maintain strong trade volumes, confirming their status as both investment staples and trading favourites. Solana (5.6%), Ethereum (4.4%), PEPE (3.1%), Shiba Inu (2.6%), and Cardano (2.5%) further represent a blend of blue-chip crypto and speculative meme plays.

Another standout is POPCAT, which has entered the top 10 traded coins, with a 1.6% share, pushing BONK down to the tenth spot at 1.1%. This shift reflects the rapidly changing preferences of Indian traders, many of whom are exploring new meme coins as they seek the next breakout asset.

CoinSwitch: Top 10 Invested Coins

A Community in Motion

“The first quarter of 2025 has shown just how dynamic India’s crypto community has become,” said Balaji Srihari, Vice President at CoinSwitch. “Bitcoin remains the bedrock of long-term investment, but the surge in trading activity around Ripple and meme coins like PEPE shows that Indian users are paying close attention to both global cues and social trends. It’s an exciting time for the ecosystem.”

Srihari also emphasised that young investors, in particular, are increasingly drawn to high-risk, high-reward coins, driving momentum for less traditional assets and meme tokens.

India’s Q1 crypto data and crypto trends paint a clear picture: while foundational assets like Bitcoin and Ethereum still dominate, there’s a growing layer of speculative interest reshaping the market. As regulation continues to evolve and global events influence asset prices, India’s crypto trends are likely to shift further in the coming months, making it one of the most exciting markets to watch in 2025.