Crypto Quill

Indian cryptocurrency investors are holding on to their assets longer, reflecting a shift in market outlook. As Bitcoin nears the $80,000 mark and digital assets gain traction, India continues to lead global crypto adoption for the second consecutive year, with younger investors at the helm. This rise coincides with a surge in global crypto market optimism, partly driven by the U.S. presidential election and a pro-crypto Congress. Here’s a look at the latest trends in Indian crypto investments and the growing use of AI to enhance vehicle safety in India.

Indian Investors and Long-Term Crypto Bets

According to a recent survey by Mudrex, a leading Indian crypto trading platform, 65% of Indian users now view cryptocurrency as a long-term investment. This indicates a marked shift from previous trends, where many viewed digital assets as short-term speculative vehicles. The longer holding period aligns with the growing maturity of India’s crypto market and a global reassessment of cryptocurrency’s role in financial portfolios.

India Leads in Global Crypto Adoption

As reported by Chainalysis in its Global Crypto Adoption Index, India has secured the top spot for the second year in a row in terms of global cryptocurrency adoption. The surge is largely driven by the young population, with millennials and Gen Z embracing digital assets for both investment and innovation purposes. These young investors are more comfortable with technology and eager to explore the financial potential that cryptocurrencies offer.

Tax Impacts and Market Influences

Despite this growth, the Indian government’s 30% tax on crypto profits and a 1% tax deducted at source (TDS) on crypto transactions are influencing the investment decisions of Indian investors. While these taxes create challenges, they have not deterred the growing interest in cryptocurrencies, as investors focus on long-term gains and diversification.

Harsh Dalmia, CEO of Watermark Capital, advises Indian investors to arm themselves with knowledge about the crypto market and stay informed about market conditions before committing significant capital to digital assets. As the regulatory landscape evolves, many are hopeful that these measures will ultimately help stabilize and mature the crypto market.

AI Innovations Making Indian Roads Safer

In another exciting development, AI technology is also driving innovation in vehicle safety in India. Starkenn Technologies, a Pune-based startup founded by brothers Sumedh and Swastid Badve, is using Advanced Driver Assistance Systems (ADAS) to reduce road accidents caused by human error. These systems utilize sensors and cameras to monitor a vehicle’s surroundings and assist the driver, providing real-time data to enhance safety.

Some of Starkenn’s flagship offerings include:

• Brake-Safe, a collision mitigation system.
• Attention, a driver monitoring system.
• Stark-I, a fleet management software solution.

These innovations have already been deployed in over 2,500 vehicles and are being adopted across both government and commercial sectors, with the startup recognized under India’s Startup India Initiative.

Starkenn’s use of AI, Machine Learning (ML), IoT, and embedded systems to create cutting-edge safety products is contributing to a safer driving environment in India, aligning with global efforts to incorporate AI into everyday applications for better public safety.

Crypto Market: A Bright Future Ahead

As Bitcoin nears its $80,000 mark, investors are hopeful that the digital currency will continue to benefit from a more favorable regulatory environment. Pro-crypto lawmakers in the U.S. Congress are sparking optimism that the future of crypto assets, like Bitcoin and Ethereum, is poised for even more growth. With young Indians leading the charge in crypto investments and technological innovations improving daily life, India’s digital economy is on track to thrive in the coming years.