Despite regulatory restrictions, Asia has established itself as the global epicenter of cryptos, capturing 60% of users internationally. A recent study by Foresight Ventures and Primitive reveals that the Asian continent generates the largest share of global liquidity.
Asia sets new records in crypto adoption
A recent study from Foresight Ventures and Primitive reveals that Asia accounts for 60% of global crypto users, confirming its central role in global adoption. This leadership is based in particular onactivity of centralized exchanges (CEX) and on price-sensitive communities, such as those in India, Vietnam and Indonesia.
Singapore stands out as a pioneer, with nearly $1 billion in crypto transactions recorded in the second quarter of 2024. Additionally, the city-state issued 13 new crypto licenses, doubling the figures from the previous year. This rapid progression makes Singapore a model for crypto payments and clear regulation.
Meanwhile, countries like Indonesia and Vietnam are among the top 10 in the global crypto adoption index. Their users, fond of innovative solutions, actively participate in the growth of the sector, thus consolidating domination of Asia.
China maintains its influence despite restrictions
Contrary to popular belief, the crypto market in China remains active despite a restrictive regulatory framework. According to data from Pump.fun, a major platform dedicated to Solana-based samecoins, 5.9% of traffic comes from Chinese-speaking regions, including mainland China, Hong Kong and Taiwan.
The Chinese crypto community stands out for its interest in meme tokens on the Solana blockchain, demonstrating a strong appetite for high-risk assets. Investors, mainly young, are effectively circumventing restrictions through decentralized solutions (DeFi) and over-the-counter (OTC) trading.
Hong Kong plays a key role as a gateway to the Chinese market, providing a more flexible regulatory framework. This allows investors to access cryptocurrencies while maintaining close ties with mainland China.
Asia, and particularly China, continues to play a crucial role in the global crypto market. Despite the limitations, it significantly influences trends and contributes to the evolution of the sector.
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