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Industry gains confidence that policy makers have been persuaded of benefits to the economy from blockchain-based innovation.
With more than 15 million users in India, CoinSwitch Kuber has become a new unicorn, and the most valuable crypto company in the country valued at $1.9 billion.
The world's largest digital token has surged some 8% over Friday and Saturday to about $62,100 -- taking this month's rally to over 40%
Bitcoin, the world's biggest cryptocurrency, rose 4.5% to its highest level since Apr. 17
The RBI remains critical of cryptocurrencies, advocating that the government ban them.
Keep the cryptos required for trading in the former and the balance in the latter
recent rally in digital tokens like Bitcoin and second-ranked Ether contrasts with the travails of assets such as stocks, bonds and gold amid a bout of jitters in global markets.
Jamie Dimon, JPMorgan Chase & Co chief executive, said on Monday at a conference that cryptocurrencies will be regulated by governments and that he personally thinks bitcoin is "worthless."
The world's largest digital asset, overcoming a slew of potentially negative factors that had dogged it earlier this year, is up about 10% over the past five sessions.
The company has recently reached unicorn status in India, valued at USD 1.9 billion serving over 10 million Indian customers
Bitcoin rose 7.11% to $55,162.92 at 20:01 GMT on Wednesday, adding $3,661.73 to its previous close.
It is also the second crypto unicorn in the country, with valuation crossing $1.9 bn after Series C round led by Andreessen Horowitz
The rally was partly fueled by Elon Musk's latest tweet about his own puppy
India has a 59% share of activity taking place on decentralized finance (DeFi) platforms, with Pakistan at 33%, the report said
The price of Compound's native token, comp, initially plunged nearly 13 per cent in a day on news of the bug
The rally brings prices to the highest since early September, when El Salvador rolled out the cryptocurrency as legal tender
Bitcoin recorded its third straight week of inflows.
Crypto exchange CoinDCX on Monday roped in Amitabh Bachchan as brand ambassador to spread awareness about cryptocurrencies.
To trade on the Unocoin platform, a minimum top-up of Rs 1,000 is required.