Market fall has set the stage for new user inflows on CoinSwitch, says Co-founder Ashish Singhal

CoinSwitch has seen its highest user inflows on days when the market has fallen, the company’s Co-founder, Ashish Singhal, told YourStory on the sidelines of India Blockchain Week 2025.

The comment comes amid a sharp sell-off in Bitcoin in recent weeks that has seen its prices plunge by almost 30% from its peak of $126,000 in early October 2025. The digital asset was trading at $87,342 at the time of writing this article.

While talks of a market correction were looming in the ecosystem, experts noted that the price fall has been larger than expected.

However, Singhal noted that in light of recent geopolitical uncertainties, it is always the riskiest assets that get impacted.

Despite wider market trends, CoinSwitch has seen healthy user inflows during this period because tens of investors who have been waiting on the sidelines see it as an opportunity to purchase the asset at a discount.

This is also due to the rising awareness of how tokens like Bitcoin and Ethereum can realise gains over the long-term rather than be a source of quick money.

“If you are here to quickly make money and go out, this is not for you. You have to continuously invest through SIPs or regularly buy during these dips to ultimately make a profit in the long run,” Singhal noted.

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CoinSwitch Cares is yet to hit the expected scale

In January this year, the crypto exchange launched a Rs 600 crore initiative to help WazirX users recover losses after the platform paused operations post a cyberattack. However, Singhal noted that it has not hit the scale that the company had hoped for.

”The primary reason is that we believe that the trust was broken in the ecosystem and a lot of these users could not take advantage of the bull market,” he said.

But Singhal also noted that since the programme runs on, CoinSwitch expects more and more users to come back to the program and avail it.

Crypto investors get younger

As crypto gains mainstream acceptance, a growing share of its investors are now younger entrants. According to CoinSwitch’s Q3 crypto report, the platform noted that, for the first time, Gen Z investors are surpassing millennials in terms of making crypto investments.

“We are seeing more Gen Zs are now putting money in crypto than the millennials, which is also a sign that, you know, the internet generation, which is Gen Z, is now trusting crypto as the first asset class they want to start investing in. So I think that's a reinforcement of our beliefs that crypto is built for people who are early into their investment cycles, can take higher amount of risk,” Singhal said.

He also noted that as education rises in the crypto community, a rising number of investors are also moving away from altcoins and memecoins, and are instead investing in blue-chip tokens like Bitcoin and Ethereum.