• CoinDCX users now hold an average of five tokens, up from two to three previously.
• Women investors doubled year on year with broader diversification trends.
• Millennials remain the dominant user base as the average age rises to 32.

Indian crypto investors are showing a stronger preference for diversified digital asset portfolios, marking an early shift toward more deliberate and long-term allocation behaviour.

CoinDCX’s annual report, released on Thursday, suggests that the country’s retail investor base is gradually moving away from the idea that crypto is synonymous with Bitcoin, signalling broader maturity in market participation in 2025.

This trend reflects a market becoming more confident, curious, and willing to explore varied opportunities across the expanding digital ecosystem.

The exchange found that the average user now holds around five tokens, compared with two to three in 2022.

This steady expansion of holdings indicates a growing awareness of portfolio construction and a willingness to explore different parts of the crypto market beyond the most established assets.

Layer-1 tokens lead activity

CoinDCX reported that layer-1 assets accounted for 43.3% of portfolio volumes.

Bitcoin, priced at $93,133, held a 26.5% share of allocations. Memecoins made up 11.8% of user portfolios, showing that speculative interest remains a part of broader diversification trends.

According to the exchange, Indian traders have become increasingly comfortable navigating different digital asset categories as adoption widens across the country.

The report noted that crypto is emerging as a natural extension of the financial products already familiar to many users.

Millennials dominate participation

The platform’s user base is ageing upward, with the average trader now 32 years old. Millennials continue to make up the majority of users, outpacing Gen Z in adoption, though younger traders remain active.

Gen Z users, aged 18 to 24, tend to favour emerging narratives such as layer-2 ecosystems, memecoins, and non-fungible tokens. Their behaviour reflects a greater appetite for thematic or speculative sectors.

CoinDCX also saw its number of women investors double year on year. These users are diversifying beyond Bitcoin and Ether, priced at $3,183, into tokens such as Solana at $143.04 and Sui at $1.67.

Founded in 2018 and backed by Coinbase, CoinDCX is one of India’s largest crypto exchanges with more than 20 million registered users. It remains a key gateway for retail access to digital assets.

India shows wide but shallow adoption

CoinDCX noted that India continues to lead in early indicators of digital asset awareness, including mobile-first trading behaviour and high engagement across educational content on the platform.

These signals reflect strong nationwide interest in crypto as a financial category.

However, the exchange found that deeper, research-driven participation remains limited. Many users enter the market through popular assets or trending narratives rather than sustained ecosystem involvement.

As a result, the platform characterised India’s adoption as “wide” but not yet “deep”.

CoinDCX said the country is still in the early stages of its digital asset journey, leaving significant room for education, innovation, and long-term growth as user sophistication develops.

Bitcoin continues to trade in a narrow range as the Asian trading day begins on Wednesday, with the world’s largest digital asset changing hands above $108,900.

This period of consolidation comes as market observers point to a lack of strong conviction, even as a new filing reveals plans from Trump Media & Technology Group to launch a diversified ‘Crypto Blue Chip ETF’.

Bitcoin is holding its ground, and the CoinDesk 20 index, a broad measure of the largest digital assets, is up 1.7% to over 3,100, according to CoinDesk market data.

However, the current price action feels more like a drift than a decisive rally.

According to market observers, what separates Bitcoin’s current position from a sustained push past the $110,000 mark is a lack of clear market conviction.

In a recent report, on-chain analytics firm Glassnode highlighted several indicators of this hesitancy.

Spot trading volumes for Bitcoin continue to linger below their usual statistical bands, and inflows into spot Bitcoin ETFs have contracted sharply from their recent highs.

Furthermore, institutional investors appear cautious, despite sitting on significant unrealized gains, as shown by elevated ETF Market Value to Realized Value (MVRV) ratios.

Trading firm Wintermute, in a market update from earlier this week, described this environment as a “barbell market.”

They pointed to a stark divide between renewed enthusiasm in high-beta, high-risk assets like memecoins, and a preference for the stability of established large-cap tokens like Bitcoin and Ethereum.

Notably, last year’s “narrative darlings,” such as AI and DePIN (Decentralized Physical Infrastructure Networks) tokens, have lost investor attention.

This suggests that traders are either rotating into the speculative frenzy of memecoins—many of the major ones like DOGE, SHIB, and PEPE are up over 8% in the last week—or they are staying put in the perceived safety of BTC and ETH, which are seen as battle-tested and secure.

With global equity markets largely shrugging off recent geopolitical uncertainties, Bitcoin’s current hesitancy underscores a lingering caution among crypto traders.

The market seems to be awaiting a clearer directional signal before making a decisive move higher, and things are likely to remain range-bound until that catalyst appears.

Trump Media’s crypto gambit: the ‘Blue Chip ETF’

Adding a new dimension to the crypto investment landscape, Trump Media & Technology Group (DJT) has revealed plans to launch another exchange-traded fund (ETF), this one designed to hold more than just Bitcoin and Ether.

The Truth Social parent company, founded by President Donald Trump, filed on Tuesday to create the “Truth Social Crypto Blue Chip ETF.”

According to the filing, the proposed fund would be composed of 70% Bitcoin and 15% Ether, complemented by an 8% allocation to Solana, 5% to Cronos, and 2% to XRP.

The filing stated that the proposed fund would trade on the New York Stock Exchange’s Arca platform, a popular venue for ETFs.

This news follows a move by Trump Media last month to file for two other ETFs: one that would invest 75% of its assets in Bitcoin and the remainder in Ether, and another that would be comprised solely of Bitcoin.

In all three instances, Trump Media has indicated that the launches would happen “later this year.” Back in March, Crypto.com announced that it would partner with Trump Media to offer these ETFs.

This series of filings underscores Trump Media’s deepening commitment to the digital asset space, following its announcement in May of a plan to raise $2.5 billion to purchase Bitcoin for its corporate treasury.

As of the latest market data, Bitcoin was trading just below $109,000, while Ether was changing hands above $2,600.

The other components of the proposed ETF, Solana, Cronos, and XRP, were trading at about $151, 10 cents, and $2.30, respectively.

Shares of Trump Media (DJT) rose close to 3% on Tuesday following the filing, though they remain down more than 40% for the year 2025.

• Bitwise CIO makes a case for diversified crypto investment in different assets such as Bitcoin, Ethereum, Solana, and Avalanche.
• He compares it to 2004, when Google was the leading internet company, though Netflix made the most money for investors in a 21-year period.
• He equates Blockchain to the internet, saying the technology can be used for different purposes, like the internet.

Bitwise CIO Matt Hougan makes the case for diversified crypto investment, even as he hails Bitcoin as an important asset. 

Hougan said that while “Bitcoin is the king of crypto assets”, citing that it is the largest cryptocurrency, while having the most liquidity and being well known.

He says Bitcoin is the only digital asset that has a shot at being an important global currency. He said the asset is similar to digital gold. 

Bitwise’s CIO said that despite the important status of Bitcoin, it is wise to invest in other cryptocurrencies, making a comparison with the historical performance of internet companies. 

Google and Netflix

Hougan asks the investors to put themselves in 2004. 

Google was the leading internet company then, and investors would have been tempted to put money into Google as it is the “dominant player”, Hougan said. 

He points out that while Google has done exceptionally well in the next 21 years, gaining over 6300%, investing in other internet companies would have served investors well, as the internet is a “general purpose technology” with uses in retail, social media, and software.

Investing in companies such as Netflix, Amazon, and Salesforce, which are leading players in other verticals of the internet, would also go on to pay huge gains for investors. 

Netflix is the highest performing stock in this period with gains of over 50,000%. 

Amazon and Salesforce also rack up 10,000% and 7,000% gains, respectively, leaving Google as the worst-performing stock among this group during this time. 

Blockchain is similar to the Internet

Hougan compares Blockchain technology to the internet, saying the former is also a general-purpose technology with different crypto assets used for different purposes. 

“You can use a blockchain to create a better form of money (Bitcoin) or to create a programmable network for transferring real-world assets” (Ethereum, Solana, Avalanche).

You can build new types of applications (DeFi, DePin) or middleware that services other blockchains (Chainlink). 

You can also build traditional businesses that support the crypto economy (Coinbase, Circle, Marathon Digital)”, Hougan writes.

Power of passive investing

It is now a regular occurrence that passive funds are trumping actively managed funds. 

Hougan points this trend out.

“Over the past 20 years, actively managed US equity funds have underperformed their benchmark indexes 97% of the time”, he said. 

It is important to invest in the big picture rather than picking winners, Hougan writes. 

He adds that after studying history, it makes sense to own a basket of cryptocurrencies such as Bitcoin, Ethereum, Solana, and Chainlink. 

In the last 4 years, different crypto assets emerged as the number one performer in different years.

Hougan demonstrates this with data. He points out that it is impossible to predict cryptocurrency winners in 2030. 

The case for crypto indexing in 10 sentences—and two charts.

Say it’s 2004. You know the internet is going to be big. Search is its killer app, and Google is king.

If you’d invested in Google, your money would have grown 64x since then. Smart move.

But the internet turned out… pic.twitter.com/EvIrsnAVl9

— Bitwise (@BitwiseInvest) May 13, 2025

Justin Bons, the chief investment officer (CIO) and founder of Cyber Capital, one of Europe’s oldest crypto funds, is convinced Ethereum is the most “robust” network, considering its level of client diversity. 

Bons pointed out the distribution of full nodes across various Ethereum clients as evidence of the network’s “unparalleled” level of decentralization. The expert believes decentralization is often overlooked in crypto, but Ethereum sets “the bar high.”

Client Diversity: Impact On Security And Reliability

Bons compared the number of clients in Ethereum and the dominance of Bitcoin core in Bitcoin. Although Bitcoin and Ethereum are legacy blockchains, the approach taken by developers to avail clients is evident.

Client diversity is critical as it can show how well full node operators prefer a given client rail over another. Ethereum, like Bitcoin and other public chains, is decentralized and depends on a community of validators to keep the network secure.

Validators, or miners in Bitcoin, operate full nodes to keep the network operations. However, the blockchain is broken without a client. A client is a software that implements the public network’s specification, enabling secure and effective peer-to-peer (P2P) communication between nodes.

Client diversity is important for the security and resilience of public networks. To illustrate, if all node operators were to use the same client or software implementation, a bug could cause a network outage or even cause other disruptions. With more clients, it becomes harder to halt network operations even if there is a bug, improving reliability.

The improved reliability from diversity and distribution of clients also means better security. An attacker wishing to disrupt operations has to disable all the available clients used by node operators before proceeding.

Ethereum Versus Bitcoin Full Node Distribution

As of September 25, there were multiple Ethereum clients, including Geth, Besu, Erigon, and Nethermind. However, more than half of all Ethereum full node operators prefer Geth, which has a 55.35% market share. Other popular options are Nethermind and Erigon, with a share of 23.48% and 12.03%, respectively.

Of all the nodes in operation, over 74% have synced with the Ethereum network, while around 26% are still syncing.

Looking at full node concentration, most are operated from the United States, at over 43%, and a bigger percentage from Germany, at roughly 13%. A small concentration of full Ethereum nodes from the United Kingdom, Singapore, and France exists.

On the other hand, Bitcoin full node operators mostly exclusively depend on Bitcoin core. According to statistics, 16,681 nodes are mainly distributed globally. There is no country from which over 10% of Bitcoin’s full nodes are operated.

Feature image from Canva, chart from TradingView

From meme coins to move-to-earns and play-to-earns, cryptocurrencies like Moshnake (MSH), Dogecoin (DOGE), and StepN (GMT) represent viable channels to build a solid crypto portfolio.

However, although cryptocurrencies are a unique class of assets compared to other investments, conventional investing principles still apply. This includes the significance of diversification in building a well-balanced cryptocurrency portfolio.

For traders accustomed to the stock market, crypto diversification presents fresh challenges. The risk and volatility of the cryptocurrency market make it harder to identify solid buys, and there aren’t any index funds that allow traders to buy a sizable group of cryptocurrencies collectively.

Below are three cryptocurrencies we believe could improve your crypto portfolio.

Moshnake — The “Legendary“ Snake Game, But Better!

Moshnake (MSH) is a new community-based P2E NFT gaming platform aiming to revive and deliver the legendary Snake gaming experience to its users and community.

Users can choose from a list of NFT snakes and feed them with various eggs and in-game materials in the game arena. Want more competition? The game also features a battle royale arena where players can compete against each other.

As a community-based crypto platform, its BEP-20 governance token, the Moshnake token (MSH), will grant holders voting rights within the ecosystem. However, Moshnake (MSH) also has a BEP-20 in-game token, Venom (VEN), which is used to incentivize activities in the gaming environment.

Dogecoin — “Lord” Of The Meme Coins

Dogecoin (DOGE) is the largest meme coin on the coin market. The coin was launched in 2013 as a joke about the sudden rise of altcoins, following Bitcoin’s widespread popularity.

However, Dogecoin (DOGE) has since become a significant cryptocurrency asset for holders. Nicknamed the “King of the meme cryptocurrency ecosystem,” Dogecoin (DOGE) has garnered support from many high-profile individuals, including popular entrepreneur and billionaire Elon Musk.

The Tesla and SpaceX Chief Executive played a starring role in the boom of the meme cryptocurrency niche and Dogecoin’s (DOGE) rise to an all-time high of $0.73 in May 2021. Till today, Musk remains a devoted supporter of the meme coin.

Despite being significantly below its peak in 2021, Dogecoin (DOGE) is still among the top 10 cryptocurrencies. It continues to have a rapid adoption rate due to its rising popularity.

In recent cryptocurrency news, Sling TV, a TV streaming provider, announced that DOGE would be accepted as payment for its offerings. The announcement was further collaborated by BitPay, a cryptocurrency payment provider.

Step Out And Earn With StepN

StepN (GMT) is another cryptocurrency significantly below its all-time high, thanks to the 2022 crypto collapse. However, it remains the largest cryptocurrency by market cap of any move-to-earn cryptos in the coin market.

Green Metaverse Token (GMT), the governing token of the move-to-earn platform, has a market valuation of $399 million, ranking it among the top 100 cryptocurrencies across all niches.

Furthermore, StepN and GMT are the most popular move-to-earn crypto platform and coin, respectively, in terms of social engagement, Google trends, and LunarCrush data. Major cryptocurrency venture capital firms like Binance Labs and Alameda Research have also invested in them.

To start earning on the platform, players must first purchase NFT sneakers. However, GMT isn’t the only cryptocurrency earned on StepN (GMT). Whereas the governing token, GMT, is only earned by high-level players, the other common, in-game utility and reward token, GST, can be earned by all players.

In contrast to GMT, which has a fixed supply, GST (Green Satoshi Token) is inflationary. It may be as valued as GMT because once players earn it, they typically cash it in immediately for real money.

However, with the second-highest market cap behind GMT, GST continues to rank highly on the cryptocurrency market as one of the most popular move-to–earn crypto coins

Conclusion

Website: https://moshnake.io

Telegram: https://t.me/MoshnakeOfficial

Twitter: https://twitter.com/moshnakeToken

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