Source credit: (Kriangkrai Thitimakorn/Shutterstock)
Leigh Cuen reports in Coindesk that things got positive for cryptos in India when the Indian supreme court overturned the verdict for banking restrictions for crypto exchanges.
Binance acquired Indian exchange WazirX reported 150% more signups and 66% more volume in many Indian cities since the supreme court verdict.
But the real boost for crypto and blockchain would come from the use of decentralized applications (dapps) by the general public in India. Matic Network co-founder Sandeep Nailwal said, "within the first month of rolling out an Ethereum scaling solution, Nailwal said his startup garnered roughly 60 dapps and is currently in the process of onboarding another 60."
“Especially with crypto, people are able to play games and earn money out of it. Real money games are becoming more popular,” he said during a video call. “We’re seeing a lot of applications [rely on us] because Ethereum is completely choked up.”
Add to that people start buying and holding Bitcoin and other cryptos as an investment. No wonder Bitcoin bulls are betting on explosive growth in India.
Source credit: https://www.coindesk.com/why-bitcoin-bulls-are-betting-on-explosive-growth-in-india
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