Bitget, an exchange of cryptocurrencies with 100 million users, has announced an association with Avalanche to support initiatives throughout India, one of the fastest growing areas for Crypto and Web3 developers.
The association will see at least $ 10 million distributed in mini tangles, scholarships, hackatones and workshops for the web community in the country. The initial approach will be in Delhi and Bangalore. Delhi is the most populous city in India, and Bangalore is known as the local “Silicon Valley”.
The activity of cryptocurrencies in India has increased in the last two years. According to Coinswitch, a local exchange, cryptographic investment throughout the country accelerated in 2024, with the highest concentrations in Delhi (20.1%), Bengaluru (9.6%) and Mumbai (6.5%). Young people from 18 to 35 now represent almost 75% of cryptographic investors in the country. While Bitcoin (BTC) and Ethher (ETH) remained popular options, Dogecoin (Doge) attracted the greatest investment in 2024, with other memecoras such as Shiba Inu (Shib) and Pepe (Pepe) also gains traction significantly.
Related: India has no plans to regulate sales and purchases of cryptography.
Indian technological market
The growth of the cryptographic ecosystem of India coincides with a wave of global exchanges that restart the market or actively explore performance. In February 2025, Bybit was recorded with local authorities and the services restored in the country. In the same month, Coinbase, discussions with regulators looking for a return in the Indian market.
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India is expected to be among the first countries to end a bilateral commercial agreement with the United States, with the aim of avoiding the imposition of reciprocal tariffs of President Donald Trump. In addition, the country, according to reports, seeks a pact with the USA to obtain access to certain technologies and exports.
According to the web3 risk capital firm, Hascued Emergent, India already represents 12% of web3 developers worldwide and contributed 17% of all new developers who enter the cryptographic space in 2024.
Related: Judgment of the Indian authorities alleging Garantex founder for the extradition of the United States
