Shiba inu

Shiba Inu and XRP Most Traded Tokens on India Top Exchange

Shiba Inu (SHIB), XRP, and Bitcoin (BTC) were among the top 3 most traded crypto assets on the WazirX crypto trading platform in June.

Amid the boring state of the crypto market, XRP and Shiba Inu investors continue to buy and sell hefty amounts of both crypto assets on different trading platforms daily and monthly.

Among the many popular crypto exchanges that consistently record a huge volume of trades involving the sixth-largest cryptocurrency by market cap, XRP, and the canine-themed decentralized token SHIB is WazirX. Launched in 2018, WazirX is said to be a part of the Binance ecosystem and has a native token with the ticker WRX.

Per a Monday report, the Indian-based digital assets trading outlet with over 400,000 registered users revealed that XRP and SHIB were among the top three most traded assets in June. However, the report failed to mention the exact volume traded for each of the widely adopted assets.

While the leading cryptocurrency Bitcoin was the first on the ranking per the update, Shiba Inu and XRP were placed second and third, respectively, in terms of volume traded within the 30 days in June 2023.


SHIB and XRP 24-Hour Trading Volume 

A close look at WazirX and the world’s leading price-tracking platform Coinmarketcap (CMC) shows that there are four trading pairs for XRP on the trading platform, including XRP/ BTC, XRP/USDT, XRP/ INR, and XRP/ WRX. Of these four, the most traded pairs are XRP/USDT and XRP/ INR.

According to CMC, the volume of XRP traded against the Indian Rupee (INR) on the exchange in the last 24 hours is equivalent to $47,203. At $0.489 per XRP, 96,529.65 XRP tokens have been traded using INR fiat currency. Likewise, over $2,336 worth of XRP has been traded against USDT on the Indian-based crypto exchange in the last 24 hours.

On the other hand, WazirX offers three trading pairs for Shiba Inu, including SHIB/ INR, SHIB/USDT, and SHIB/ WRX. When writing, SHIB/INR trading volume on the exchange stood at $50,434. At the prevailing price of SHIB, this indicated that over 6,384,050,632 SHIB tokens were traded on WazirX using this pair.

Meanwhile, CMC showed the volume of Shiba Inu traded against USDT on the exchange in the last 24 hours was equivalent to $2,486. Notably, in the broader crypto market, about 14,605,286,851,073 SHIB tokens worth $110,182,660 have been traded in the last 24 hours.

Why the Interest in SHIB and XRP?

This growing interest in SHIB could be due to the upcoming Shibarium mainnet launch as investors speculate a price surge. Likewise, the team has promised that more substantial developments and projects would be onboarded into the SHIB ecosystem post-mainnet Shibarium launch.

On the other hand, the anticipation of a positive ruling for Ripple and XRP in the longstanding SEC lawsuit could be the motivation behind the rising interest in the XRP Ledger native token.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.


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