New Delhi, April 4 -- India's crypto market has often been discussed through big numbers, policy debates and price swings. But a new study from Pi42 and Hashed Emergent offers a more grounded look at who is actually driving the next wave of activity. And the picture it paints is telling: the market for crypto futures trading in India is becoming younger, broader and less metro-centric than many still assume.

According to the findings, Gen Z now dominates the INR derivatives trading space on Pi42, with 61% of all new traders falling in the 18-25 age group. The study also shows that women's participation grew 20% year on year, with women now accounting for nearly one in eight traders on the platform.

That shift sits well within a larger p...