The week in crypto, with Coindelta: Joint writ petition and Exchange Statistics

Coindelta has filed a joint writ petition along with three other exchanges – Koinex, Throughbit, and CoinDCX- against the RBI circular from April that banned banks from providing services to those engaged with cryptocurrencies. Writ Petition (Civil) no. 373 of 2018 under Article 32 of the Constitution challenging the constitutional validity of the Central Bank’s Circular was jointly filed by the four exchanges mentioned above. The next hearing for the same is on May 17th.

Meanwhile, the Coindelta exchange lent us some insight into the performance of cryptocurrencies on their platform this week.

The top 5 coins/token that saw maximum trading by volume, were: Zilliqa (ZIL), TRON (TRX), Ethereum (ETH), Ripple (XRP) and 0x (ZRX). The combined trade volume for all these cryptocurrencies was over Rs. 25 crores or nearly $37 mil. The average ticket size for trades on the platform ranges between Rs. 5k to 10k.

On Coindelta’s exchange, ZIL traded between Rs. 10-13, TRON went for Rs. 4-6, ETH ranged between Rs. 49,000 to 52,000 while XRP and ZRX saw trades for price points between Rs. 54-60 and Rs. 100-130 respectively. Overall, Coindelta reported a steady trend for all the 24 cryptos that it houses.