As of 22 August 2025, the cryptocurrency market in India is navigating a cautious rally after recent volatility. Major coins such as Bitcoin (BTC) and Ethereum (ETH) are attempting to consolidate above key levels. Meanwhile, altcoins are showing a mixed performance: some are rallying on network-specific catalysts while others are correcting after strong runs. Below is a detailed snapshot of the crypto market updates, the forces driving sentiment, key coins to watch and the outlook for tomorrow.
Market movements & sentiment
- Stability ahead of global events – The broader crypto market held key levels as traders awaited Federal Reserve Chair Jerome Powell’s Jackson Hole speech. This kept risk appetite muted even though BTC hovered around $113 k and ETH held near $4.3 k. Outflows from spot exchange‑traded funds (ETFs) added to caution; Bitcoin spot ETFs saw US$194 million in outflows and Ethereum ETFs lost US$287.6 million.
- Indian regulatory backdrop – At home, discussions about a rupee‑backed stablecoin gained momentum. CoinDCX CEO Sumit Gupta argued that an INR‑backed stablecoin could cut remittance costs by up to 90 % and improve financial inclusion. Investors see this as a positive step towards mainstream adoption and regulatory clarity.
- Risk‑off in altcoins – While some altcoins like OKB, GateToken (GT) and Provenance Blockchain’s HASH rallied on token burns and network developments, others such as Sei (SEI), Chainlink (LINK) and NEAR pulled back on profit‑taking and general market weakness. This rotation suggests selective risk appetite among traders.
Top trending cryptos in India
According to CoinGecko’s Indian trends page, the day’s most talked‑about coins were: Inspect (INSP), Doctor Mutant (DRMUTANT), iOQ Wallet, Origin LGNS, Bitcoin, YZY, Ethereum, Huobi (HT), OKB, Solana, Shiba Inu, XRP, Pepe, Bio Protocol and Dogecoin. Their presence reflects a mix of new meme‑style tokens and established majors, illustrating investor curiosity across the risk spectrum.
Bitcoin & Ethereum – price movement
| Metric | Bitcoin (BTC) | Ethereum (ETH) |
|---|---|---|
| Price (approx. in INR) | ₹9,455,000 | ₹361,000 |
| Price (approx. in USD) | $113,000 | $4,265 |
| 24‑h % change | +0.9 % | +0.4 % |
| 24‑h high | $113,954 | $4,318.09 |
| 24‑h low | $112,023 | $4,211.66 |
| Sentiment | Bullish (≈ 72 % positive) | Bullish (≈ 87 % positive) |
| Commentary | BTC attempted to reclaim $114k but remained range‑bound ahead of the Fed’s speech; ETF outflows signaled caution. | ETH followed BTC’s consolidation pattern while traders watched for updates on spot ETF approvals and regulatory cues. |
Top Gainers (Altcoins)
| Altcoin (symbol) | 24‑h change | Brief explanation |
|---|---|---|
| OKB (OKB) | +26.56 % | Supply shock & network upgrade: OKX executed a token burn removing ~65 million OKB (≈ US$7.3 b), and its X Layer upgrade introduced a Polygon‑powered Layer‑2, increasing utility and scarcity |
| GateToken (GT) | +6.25 % | Speculative inflows & burns: Speculation around centralized‑exchange (CEX) tokens rose as Bitcoin’s leverage ratio hit a five‑year high; Gate’s derivatives volume surged to US$740 b and quarterly burns reduced supply. |
| Provenance HASH (HASH) | +3.85 % | Real‑world asset (RWA) narrative: HASH rallied as interest in tokenizing financial assets grew; Provenance Blockchain focuses on institutional asset tokenization, and speculation around upcoming governance events added momentum. |
| Aerodrome Finance (AERO) | +3.42 % | DEX growth on Base network: AERO, a decentralized exchange on Coinbase’s Base chain, saw a ≈ 20 % weekly surge thanks to strong demand for its unique liquidity incentives and trading design. |
| Kaspa (KAS) | +2.36 % | Crescendo upgrade: Kaspa’s “Crescendo” upgrade increased block output ten‑fold (from 1 to 10 blocks/sec), boosting transaction capacity and attracting traders; large wallets accumulated KAS in anticipation of exchange listings. |
| Nexo (NEXO) | +2.35 % | Brand partnerships: Nexo’s token rallied over 13 % over the past month as the platform became the Digital Wealth Partner of the DP World Tour, title sponsor of a golf championship and crypto partner of a tennis open, expanding brand visibility. |
Top Losers (Altcoins)
| Altcoin (symbol) | 24‑h change | Reasons behind the decline |
|---|---|---|
| Official Trump | –4.27 % | Small‑cap meme token; lacks fundamental drivers and often trades on sentiment; profit‑taking amid risk‑off mood likely weighed on price. |
| Sei (SEI) | –3.41 % | Price dipped even after MetaMask integration and selection for a Wyoming stablecoin project; the broader market decline led to a 4.38 % weekly drop despite growing user base. |
| Chainlink (LINK) | –3.33 % | On‑chain metrics show rising exchange inflows (≈ US$30 m) and falling money‑flow indicators, suggesting that large holders are taking profits and preparing for consolidation |
| NEAR Protocol (NEAR) | –3.16 % | NEAR fell about 2.5 % in 24 h as traders sold near resistance after a strong weekly recovery; profit‑taking outweighed recent institutional accumulation. |
| Injective (INJ) | –3.11 % | Despite integration with Republic to expand real‑world‑asset tokenization, INJ traded down ~3 % due to a general crypto sell‑off that pulled the token from highs near US$16. |
| Algorand (ALGO) | –3.10 % | Declines followed the broader market; no specific catalyst but risk‑off sentiment and rotation into other altcoins pressured price. |
| Celestia (TIA) | –2.89 % | Layer‑1 modular blockchain token corrected after previous gains; sentiment rotated into competing narratives like RWA and gaming tokens. |
| Bonk (BONK) | –2.65 % | Meme‑coin volatility remains high; traders took profits after earlier spikes, reflecting a shift towards higher‑utility tokens. |
| Sui (SUI) | –2.64 % | Sui dropped more than 21 % below its yearly high; analysts cite a broad market slump (BTC at ~US$113 k), shrinking trading volumes, reduced staking deposits and a bearish technical structure with head‑and‑shoulders formation. |
| Internet Computer (ICP) | –2.54 % | Losses mirrored the overall market sell‑off; no major negative news but investor rotation into newer Layer‑2 or RWA plays dampened demand. |
Crypto updates & key crypto coins to watch
- Real‑world assets (RWAs): Interest in tokenizing real‑world assets continued to grow. Provenance Blockchain’s governance and product roadmap attracted investors to HASH, and Injective’s partnership with Republic aims to expand RWA tokenization.
- Decentralized exchange (DEX) growth: Aerodrome’s strong momentum on the Base network highlights market demand for efficient DeFi platforms. Watch for other DEX tokens on emerging Layer‑2 networks.
- CEX tokens & burns: OKB and GateToken show that token burns and utility upgrades can drive strong rallies. Traders may monitor other exchange tokens for similar catalysts.
- Meme & trending coins: Top trending coins such as INSP, DRMUTANT, OKB, Solana, Shiba Inu and Pepe demonstrate that speculative interest persists. Volatility remains high; therefore, risk management is crucial.
- Stablecoin developments: Discussions about an INR‑backed stablecoin emphasize India’s large remittance market and the potential for regulated digital rupee tokens. Any regulatory updates could significantly influence local adoption.
Outlook for tomorrow (23 Aug 2025)
- Macro sensitivity: Markets will likely remain quiet until clarity emerges from the Jackson Hole symposium. High‑beta altcoins could see continued rotation as traders react to any comments about monetary policy. Keep an eye on whether BTC can reclaim the US$115 k area; failure may induce more risk‑off sentiment.
- Local developments: Indian investors are watching for progress on an INR‑backed stablecoin. Regulatory announcements or pilot projects could provide a catalyst for domestic platforms.
- Key support & resistance: BTC faces resistance near US$114 k and support around US$112 k. ETH eyes the US$4.35 k level and has support near US$4.2 k.
- Altcoin rotation: Strong performers like OKB and GT may consolidate after large gains, while lagging coins such as SEI and LINK could stabilize if macro conditions improve. Watch for news on RWA platforms and Layer‑2 chains as they continue to capture investor imagination.
Conclusion
The Indian crypto market on 22 August 2025 exhibits resilience despite macro headwinds. Major coins hold above key levels, selective altcoins rally on fundamental catalysts, and regulatory discussions about a rupee‑backed stablecoin are gaining traction. Still, investor sentiment remains cautious ahead of the Jackson Hole conference. Traders should stay informed on global monetary policy, monitor local regulatory signals and manage risk carefully when exploring the day’s trending coins. Stay tuned for more crypto market updates.
