- South Asian sock sales surge 28% YoY on Myntra in Q1 2026.
- Binance deposits drop 42% to 6-month low of 18,500 BTC equivalents per CryptoQuant.
- Fear & Greed Index falls to 12 amid BTC at $70,935.
Myntra posted 28% YoY growth in South Asian sock sales for Q1 2026. Binance deposits plunged 42% week-over-week to 18,500 BTC equivalents on April 13, per CryptoQuant. Crypto Fear & Greed Index hit 12, per Alternative.me.
BTC traded at $70,935, down 1%, per CoinGecko. ETH dropped 0.9% to $2,194.65. BNB rose 0.7% to $598.
Binance Deposits Hit 6-Month Lows
CryptoQuant CEO Ki Young Ju flagged the lowest Binance inflows since October 2025. Glassnode data showed stable 580,000 BTC balances. Chainalysis Q1 2026 report noted South Asian investors holding amid volatility.
USDT pegged at $1.00. XRP gained 0.4% to $1.33. Ju said reduced supply eases sell pressure.
CMIE consumer surveys revealed 15% drop in Indian crypto app usage. Funds shifted to fashion e-com.
Streetwear Socks Drive Myntra Boom
Delhi, Mumbai, and Bangalore youth bought neon ikat (Telangana weaves) and Gujarat bandhani-printed cotton-merino socks (60% cotton, 40% merino). Prices hit ₹500-1,500 ($6-18) per pair on Myntra and Ajio, including 18% GST.
Redseer Strategy Consultants Partner Niraj Rajput linked the surge to crypto caution in their April 2026 report. D2C brand SockSutra saw 35% UPI order jumps, per founder Priya Sharma.
Ajio sold 1.2 million units last month at ₹800 ($9.60) average, per platform data.
Heritage Prints Meet Tech in Socks
Chunky 200-denier crew socks paired with sneakers and kurtas. Bollywood star Ranveer Singh inspired ikat patterns with moisture-wicking for humid climates.
Myntra's April 13 report showed ankle socks at 45% share, crew at 30%. AR try-ons boosted conversions 22%, per Myntra VP-Growth Tarun Upadhyay.
Chennai favored breathable Pima cotton (4.5 oz/yd²). Mumbai chose bold geometrics. Technopak pegged 2026 sock market at ₹5,200 crore ($626 million), up 22% YoY.
Crypto Caution Fuels D2C Funding
D2C sock startups raised $15 million in Q1 2026 seeds, per Tracxn. Redseer forecasts 25% CAGR for athleisure socks to 2028.
UPI fashion transactions reached ₹45,000 crore ($542 million) monthly, per NPCI April data. SockSutra's IBM Food Trust blockchain traces Tamil Nadu bamboo supply chains.
CryptoQuant metrics tied low deposits to retail fashion shifts, per Ju.
Wedding Season Lifts Embroidered Socks
Pre-summer weddings drove silk-blend embroidered socks at ₹2,000 ($24). AEPC data showed 15% YoY exports to Europe.
FDCI highlighted fusion trends pairing socks with lehengas. Myntra projects 40% festive sock uplift.
Sock Surge Persists Amid BTC Volatility
South Asian sock sales forecast 25% growth through 2026, per Redseer, regardless of BTC rebounds. Binance deposit trends signal sustained crypto caution boosting UPI e-com.