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Despite regulatory restrictions, Asia is emerging as the global epicenter of crypto, capturing 60% of users worldwide. A recent study from Foresight Ventures and Primitive reveals that the Asian continent generates the largest share of global liquidity, with five Asian countries ranking in the top 10 of the 2024 Global Crypto Adoption Index.
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 on activity of centralized stock exchanges (CEX) and price-sensitive communities, such as those in India, Vietnam and Indonesia.
Singapore stands out as a frontrunner, with nearly $1 billion in crypto transactions recorded in the second quarter of 2024. Separately, the city-state issued 13 new crypto licenses, double last year’s figures. This rapid progress makes Singapore a model in terms of cryptocurrency payments and clear regulations.
Meanwhile, countries like Indonesia and Vietnam rank among the top 10 in the Global Crypto Adoption Index. Their users, eager for innovative solutions, actively participate in the growth of the sector, thus consolidating The domination of Asia.
China maintains its influence despite restrictions
Contrary to popular belief, the cryptocurrency market in China remains active despite a restrictive regulatory framework. According to data from Pump.fun, a major platform dedicated to Solana-based memecoins, 5.9% of traffic comes from Chinese-speaking regions, including mainland China, Hong Kong and Taiwan.
The Chinese crypto community is notable 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, particularly China, continues to play a crucial role in the global crypto market. Despite its limitations, it significantly influences trends and contributes to the evolution of the sector.
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Passionate about Bitcoin, I like to explore the intricacies of blockchain and cryptos and I share my discoveries with the community. My dream is to live in a world where privacy and financial freedom are guaranteed for everyone, and I firmly believe that Bitcoin is the tool that can make this possible.
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