A new study from Bitget Research reveals a significant correlation between the activity of Telegram groups and growing crypto adoption, particularly in Africa and Eastern Europe. The analysis, which extends from January 2023 to August 2024, highlights a major transformation of the financial landscape in these emerging regions.
Africa leads the crypto revolution on Telegram
The research arm of Bitget, a major crypto exchange platform, analyzed Telegram usage data from different regions around the world. The results are clear: Africa dominates with a spectacular growth of 189% in crypto groups on Telegram, driven by a particularly young population.
Indeed, more than 56.5% of African users are under 25 years old, representing the highest concentration of young crypto users in the world.
This dynamic can be explained in particular by several structural factors: persistent economic instability in certain regions, limited access to traditional banking services, and a young population particularly receptive to technological innovations. Nigeria and South Africa emerge as the continental leaders, with projections reaching 53.89 million users by 2025.
Eastern Europe, second driver of crypto adoption
Eastern Europe is establishing itself as the second major center of growth, particularly in Russia and Ukraine. The 35-44 age group is over-represented there, massively using cryptos via Telegram.
This accelerated adoption is mainly explained by an unstable economic context and international sanctions, thus pushing users to seek alternatives to traditional financial systems.
In contrast, Western Europe is significantly behind, mainly due to a more restrictive regulatory environment. Asia maintains a strong position, with 90% of crypto users aged 18-39, of which 30.5% are under 25, suggesting considerable growth potential.
THE data from Bitget Research highlight a profound transformation of the global financial landscape, where emerging regions are becoming the main drivers of crypto innovation.
This trend, driven by a young and tech-savvy population, suggests a massive adoption of cryptos in the years to come, particularly in Africa and Eastern Europe, thus redefining the contours of global finance.
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