Shiba Inu Coin was a firm favourite among men this year, after Indian cryptocurrency exchange WazirX said SHIB was the most traded cryptocurrency by its male users in 2021.
In its ‘2021: Year of the Crypto’ report, the exchange reported that SHIB was also among the most traded cryptocurrencies overall, only behind Bitcoin and Tether.
For women, the most traded cryptocurrency was Bitcoin, the exchange said.
WazirX Users Traded SHIB, Bitcoin, And USDT The Most
After the findings revealed the prominence of SHIB among men, users on r/CryptoCurrency had rather mixed feelings.
“The men are all going hard either to drive Lambo or eat ramen for six months,” posted one user. The most upvoted comment said: “Looks like Indian women are smarter than the men.”
However, moving beyond the jokes, WazirX’s report also said it had a 1009% growth in female sign-ups, compared to 809% for men - a positive statistic for those concerned about the gender divide in cryptocurrency holding.
WazirX’s CEO Nichal Shetty summarised the report on Twitter, finding 82% of WazirX users are in profit.
In October, as SHIB kept hitting new all-time highs, the token topped Binance’s trading charts for a short period. It has the 19th highest trading volume in the past 24 hours, according to CoinGecko.
Of course, most traded cryptocurrency doesn’t necessarily mean SHIB is held by the most accounts on WazirX. It includes both buying and selling.
Looking ahead to 2022, one of WazirX’s main expectations is for institutions to look deeper into altcoins.
“Although Bitcoin was the most traded crypto on WazirX in 2020 as well as in 2021, its contribution to our overall trading volume has plummeted,” it said. “It appears that more people and institutions are realising that there’s more to crypto than just Bitcoin.”
[Image: WazirX/Unsplash/Papaioannou Kostas]