The CoinSwitch Twitter account, India’s largest cryptocurrency buying and selling app, reported that Dogecoin was one of the year’s most held assets among its users.
As per CoinSwitch report published on Wednesday, Bitcoin was the most held crypto asset, with 12% of users opting to invest in the world’s most valuable crypto asset. This was followed by Dogecoin, Ethereum and Shiba Inu, which saw investments from 11.54%, 9.43% and 6.92% users, respectively. Dogecoin and Shiba Inu fall under the category of meme coins, inspired by popular internet memes.
About 40% of crypto investments this year were made on tokens with utility, while meme coins comprised 13.14% of investments.
According to CoinSwitch, the app has approximately 20 million users. 70% of all DOGE addresses have held tokens for more than a year, with a sizable proportion now known to be in India.
(Reporting by Shikha Singh; Editing by Laxmikant Khanvilkar)
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