Chingari's First Day Trading Volume Crosses $100M, 750 Crores Across 12 Major Crypto Exchanges

20 Jan, 2022 17:12 IST|Sakshi Post

India’s first social crypto-token by the country’s leading short-video app went live on 12 crypto exchanges. 

Short Video app Chingari’s first-ever social token $GARI witnessed record-breaking 24 hours trading volume that crossed the $100M mark. On the day of its listing the desi crypto-token gain of Rs. 750 Crores across 12 major crypto exchanges. These crypto exchanges include HUObi Global, FTX, KuCoin, Gate.io, MEXC Global, and OKEx. 

$GARI is the first Indian crypto-token to make a trading debut on international crypto exchanges. With this benchmark, Chingari’s $GARI plans to disrupt the blockchain & crypto market landscape across the world. $GARI token channelizes the blockchain technology to empower the content curators to monetize their content on the Chingari platform. 

On the occasion, Mr. Sumit Ghosh, CEO & Co-founder, Chingari, says, “With such an impressive volume, Chingari $GARI is moving towards its vision to entrust the content curator community. Cryptocurrency in India has been untapped when it comes to the curators and with GARI we would be capturing the potential market. With such a great milestone, we shall be maintaining the leadership position across the short video apps platforms.”

With this, GARI makes a pathway for its content curator to enter the world of crypto. And enable content monetization to become more mainstream in India. At the same time, the blockchain platform would allow users to obtain tokens for creating and viewing content.

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In October Chingari along with its brand ambassador Salman Khan launched $GARI. $GARI wants the content curators to lead the way in using the blockchain platform. 

Chingari recently announced its $15M Series A extension round. This impressive investment will further boost & bring together newer features in the app, apart from technological & marketing advancement in 2022. The short video format app, Chingari is also in the hunt for its Chingari Star. 

With over 110M+ downloads of the app, Chingari has witnessed a two-fold increase in its number of users since April 2021. With 35M+ monthly active users (MAUs) currently, the app is now looking at various ways to increase user engagement on the platform from across India. The No.1 short-video app of India is looking at further growing its user base to 200M+ by end of 2022.

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