Crypto Startups Ride Global Optimism Wave Amid Bull Run, Record Peaks, and Friendlier Regulations

Crypto startups such as CoinSwitch, CoinDCX, and WazirX are experiencing a surge in market momentum, fueled by Bitcoin's record-breaking run and a friendlier global regulatory climate. The founders report a significant increase in user registrations and trading volumes, with CoinSwitch expecting to reach profitability soon. The landscape is evolving, but the direction is becoming clearer, giving confidence to build responsibly.

Title: Crypto Startups Ride Wave of Optimism Amid Bitcoin's Record-Breaking Run

Crypto startups such as CoinSwitch, CoinDCX, and WazirX are experiencing a surge in market momentum, fueled by Bitcoin's record-breaking run and a friendlier global regulatory climate. The founders report a significant increase in user registrations and trading volumes, with CoinSwitch expecting to reach profitability soon. The landscape is evolving, but the direction is becoming clearer, giving confidence to build responsibly.

Ashish Singha, co-founder of CoinSwitch, noted that the first half of FY24 was uncertain, but as things moved forward, the tide turned. Between January and December 2024, user registrations rose 2.5 times and trading volumes jumped 6.5 times. CoinSwitch expects to reach profitability at scale soon. "The landscape is still evolving, but the direction is becoming clearer. Compared to where we were even a year ago, there is far more structure in the ecosystem now, and that gives us confidence to build responsibly," Singha said [1].

Bitcoin surpassed $121,000 in July, touching a new peak and beating previous records between May and January. Ether, the second-largest cryptocurrency, also reached a five-month high of $3,048.23. "The global bull run, a clear pro-crypto stance from world leaders like Donald Trump, and growing institutional participation from giants like BlackRock are pushing crypto into the mainstream," said Sumit Gupta, co-founder of CoinDCX [1].

DCX Group, which includes CoinDCX India, BitOasis in the UAE and Bahrain, and Okto, has registered annualised revenue of Rs 1,179 crore, supported by Rs 13.7 lakh crore in annualised transaction volumes. In the first half of FY25, it logged Rs 23,497 crore in spot trading volume, up 37% year-on-year; 19 million registered users, a 30% rise; and over 200,000 active crypto SIPs (systematic investment plans), up 1,071%. Gupta also pointed out the growing traction in Tier-2 cities such as Faridabad and Nashik [1].

WazirX remains upbeat despite challenges. "Broader crypto sentiment remains favourable. We believe the hyper-bull market, like those of 2017 or 2021, is still ahead. The current year reminds us of 2016 or 2020. We are positioning WazirX to be ready when the next hyper-bull cycle arrives," a spokesperson said. The firm is emerging from a cyber attack in July 2024 and is in the final phase of restructuring [1].

Globally, regulations have firmed up in the UAE, Hong Kong, and Singapore, while Europe's Markets in Crypto-Assets (MiCA) Regulation came into force at the end of 2024. In the US, the GENIUS Act, signed on July 18, created the first federal framework for regulating payment stablecoins [1].

In India, cryptocurrency startup founders said that policy conversations have moved from whether to regulate crypto to how to do it. "A few years ago, there were serious conversations about banning the industry altogether. Today, we have well-defined guidelines around anti-money laundering, KYC, advertising, and, of course, taxation," Gupta said [1].

Investor sentiment has also improved, though with a sharper focus on trust, compliance, and innovation. Web3 startups in India — that focus on building blockchain-based applications and platforms — raised $564 million in 2024, a 109% jump from the previous year, according to the India Web3 Landscape Report 2024 by Hashed Emergent [1].

Beyond exchanges, sectors such as Web3 infrastructure, real-world asset tokenisation, stablecoins, developer tools, and decentralised platforms integrating AI are drawing interest. Some firms, like CoinDCX through its BitOasis acquisition, are expanding into regions with friendlier regulation. Since joining hands, BitOasis has seen trades rise 30%, volume 40%, and revenue 50% [1].

Parataxis Holdings, a Bitcoin-native asset manager, has confirmed a business combination with SilverBox Corp IV, a SPAC, to form a publicly traded entity on the New York Stock Exchange under the ticker symbol “PRTX.” The deal is expected to generate up to $640 million in gross proceeds, including $240 million from SilverBox’s trust and equity commitments and an additional $400 million from an equity line of credit. A key component of the capital raise will be the allocation of $31 million to purchase Bitcoin as part of Parataxis’ long-term treasury strategy [2].

The company will also focus on expanding in South Korea, a major crypto trading market without a Bitcoin ETF. Parataxis plans to offer institutional-grade Bitcoin access in this region, capitalizing on strong trading volumes and limited investment options. The merger has been approved by the boards of both companies and now awaits regulatory review by the U.S. Securities and Exchange Commission [2].

CoinDCX, the Indian crypto exchange, has released a monthly transparency report for July 2025. The report shows proof of reserves, investor protection initiatives, tax compliance, platform development, security incidents, and new developments. As of July 24, 2025, CoinDCX had total holdings of $731.1 million, including $541.64 million in blockchain reserves and $189.46 million kept by partners. The Crypto Investor Protection Fund (CIPF) increased to ₹69.74 crore in July, which is 16% higher than June 2025. The platform remitted ₹20.05 crore as TDS (tax deducted at source) to the government of India, which is 37.5% higher compared to the previous month. The number of registered users on CoinDCX reached the 2 crore mark in July at 20,153,514 accounts, a 2.93% month-on-month increase [3].

References:
[1] https://www.financialexpress.com/market/cryptocurrency/crypto-startups-ride-a-global-wave-of-optimism/3941119/
[2] https://www.ainvest.com/news/bitcoin-news-today-parataxis-public-silverbox-spac-merger-raising-640m-bitcoin-strategy-2508/
[3] https://www.cryptotimes.io/2025/08/08/coindcx-reports-731m-holdings-109-volume-surge/