BTC and ETH were the most actively traded tokens on CoinDCX in May, with volumes of $29.5 million and $21.7 million respectively.
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A significant increase in cryptocurrency trading volumes was seen recently, with spot trading rising by more than 30 per cent in May compared to April, signalling growing confidence among investors. The rise in trading volumes matches wider trends like more institutional investors entering the market, positive changes in regulations, and strong technical signals in major cryptocurrencies like Bitcoin and Ethereum. After breaking above the $105,500 neckline, Bitcoin’s price surged and could reach around $111,000, experts observed.
Piyush Walke, Derivatives Research Analyst, Delta Exchange, said “Bitcoin is trading above its anchored VWAPs, reinforcing the prevailing positive market sentiment. Ethereum mirrored Bitcoin’s momentum with a strong upside move. It may encounter minor resistance near $2,720, while $2,560 is likely to act as a support level. On the institutional side, Bitcoin spot ETFs recorded net inflows of $386.2 million, while Ethereum ETFs attracted $53 million, indicating growing investor interest in both assets.”
In its May 2025 Transparency Report, CoinDCX said it saw a 32 per cent increase in spot trading volumes, rising to $492 million in May from $374 million in April.
Sumit Gupta, Co-Founder, of CoinDCX attributed this to the increasing policy momentum in key markets and India’s growing participation in the digital asset economy.
Surge factors
BTC and ETH were the most actively traded tokens on CoinDCX in May, with volumes of $29.5 million and $21.7 million respectively. Moo Deng emerged as a breakout performer with $14.4 million in volume, reflecting a growing interest in emerging narratives.
The surge in trading volumes was driven by a convergence of macroeconomic events, institutional participation, and renewed retail engagement, Sathvik Vishwanath, Co-founder and CEO of Unocoin explained. This uptick reflects growing investor confidence and market activity across major and mid-cap digital assets.
The approval and inflow into US observed Bitcoin and Ethereum ETFs playing a key role in legitimising crypto among institutional investors, he said. Optimism around U.S.–China trade talks and anticipation of inflation data created short-term volatility, inviting speculative trading opportunities. This resulted in heightened volume, especially in assets like PEPE, SOL, and meme coins, which thrive during periods of high engagement.
“The volume surge confirms bullish sentiment and signals a phase of aggressive positioning ahead of global economic triggers. As trading environments remain dynamic, traders are advised to remain cautious, watching for both continuation patterns and potential exit liquidity events,” Vishwanath noted.
Published on June 10, 2025
