Compare fees, pair level depth, deposits and withdrawals, custody or contract design, account protections, token verification, and local eligibility. At the 2026-09-12 review, the Trust Rank was #158. Trust Rank, coverage, concentration, and spread answer different questions and should be read together.
Custody, withdrawal access, counterparty solvency, operational resilience, account security, jurisdiction, and listing standards are material. Trust Rank is not proof of reserves. Terms, interfaces, listed markets, and regulatory availability can change. Verify current conditions directly with the venue.
Mudrex is recorded as a centralized crypto investment platform founded in India in 2018. Its observed market set covers 425 assets, while reported activity is heavily concentrated in BTC/USDT and the top ten pairs.
Mudrex is recorded as a centralized investment platform
Mudrex is described as a global crypto investment platform that began in 2018. The recorded country is India, and the venue type is centralized. The description also says the platform is backed by Y Combinator, Akram Ventures and Nexus Venture Partners; those are statements about Mudrex rather than independent findings in this profile.
A centralized structure generally means the platform sits between customers and the markets or investment services it provides. That operating model can place account access, order handling, asset movement and other important functions under the venue’s control. The available facts do not establish how Mudrex handles custody, withdrawals, execution, client assets or internal controls, so those areas require separate verification.
Mudrex’s observed market coverage includes 425 assets
The recorded market snapshot contains 425 assets, 425 pairs and 426 ticker records. That indicates broad nominal coverage in the observed listing set, but listing count alone does not show that every market has deep liquidity, consistent execution or sustained activity.
BTC/USDT is the leading recorded pair, accounting for 45.87% of observed pair activity. The top ten pairs together represent 85.85%, leaving a relatively small share for the remaining markets. This concentration matters for readers comparing venue structure: the headline asset count is wide, while observed activity is dominated by a limited group of pairs.
BTC/USDT concentration shapes the trading picture
The BTC/USDT share suggests that Mudrex’s observed market activity is centered on one major crypto-to-stablecoin market rather than distributed evenly across its listed pairs. A venue can publish many markets while still having most measurable activity in a small number of instruments; Mudrex’s recorded figures illustrate that distinction directly.
The available snapshot does not identify the other leading pairs or provide a median spread for the top 20 markets. As a result, the data can show concentration but cannot support a detailed comparison of quoted trading costs, market depth, slippage or the quality of execution across individual pairs.
Reported activity declined across the 30-observation history
The activity history contains 30 observations. Its first-to-latest change is recorded as a 38.45% decline, with a median reported volume of 14.6966 BTC. The lowest observation is 6.805 BTC and the highest is 20.026 BTC, showing a sizable range between the recorded low and high.
These figures describe reported volume over the observation period, not the platform’s current financial condition or the reliability of its markets. They also do not reveal how volume is distributed among customers, pairs or time periods. Volume can help frame market activity, but it is not evidence of solvency, asset backing, security or regulatory standing.
What Mudrex’s profile does not establish
project profile does not specify Mudrex’s licenses, supported jurisdictions, ownership structure beyond the named backing claim, executive team, custody arrangements, reserve practices, audits, security controls, fees or product-level terms. It also does not establish whether all 425 observed markets remain active or how the venue manages thinly traded pairs.
Practical due diligence would focus on the legal entity serving a particular customer, withdrawal rules and processing dependencies, asset segregation, incident history, market-making arrangements, proof or audit procedures, and the distinction between investment products and direct trading. The centralized model makes those operational questions especially material because access and transaction handling depend on the platform’s own systems and policies.
Key takeaways
- Mudrex is recorded as a centralized crypto investment platform founded in India in 2018.
- The observed market set contains 425 assets and 425 pairs, but listing breadth is not the same as usable liquidity.
- BTC/USDT represents 45.87% of observed activity, while the top ten pairs account for 85.85%.
- Reported activity declined 38.45% from the first to the latest of 30 observations.
- No spread data is available for the top 20 markets, limiting conclusions about trading costs and execution quality.
- The available facts do not establish custody, licensing, reserves, audits, security controls or withdrawal practices.
Risks and unresolved questions
- The centralized operating model creates unresolved dependency on Mudrex for account access, transaction handling and potentially asset custody; the specific arrangements are not recorded.
- High pair concentration may mean that activity and liquidity are uneven across the 425 listed markets.
- The reported volume history shows a decline and a wide range, but its composition, methodology and pair-level distribution are unknown.
- No median spread or depth measure is available, so execution costs and slippage cannot be assessed from the recorded snapshot.
- The venue’s applicable legal entities, supported jurisdictions, licensing position, reserves, audits and incident history require verification.
