U.S and Vietnam Ranks Top for High Crypto Adoptions in 2022 – Huobi Reports

• Huobi Research reveals the score list of “mature crypto market” of 2022.  
• Significantly, the U.S and Vietnam ranked in the top 2 positions. 
• However, Vietnam holds a high proportion of 20.3% of crypto users. 

The year 2022 offered great challenges for the crypto industry, suffering from a bearish trend till date. Many significant crisis affected the market  by shrinking the prices of all cryptocurrencies, especially the king coin, Bitcoin (BTC). As a result, there is a huge downfall of over $2.2 trillion in the total market cap of the crypto market. Through this, the entire digital space including all institutional business went into huge loss. 

Following, Huobi revealed a report analysing the current market condition. The data covers all major factors like percentage of crypto users in total population, CEX volume, DeFi traffic and high internet searches. Considering all these areas, the United States and Vietnam scored high, positioning in the top 2 in the list. 

Despite the market breakdown, crypto adoption rates are increasing on the plane offering its services worldwide. As a matter of fact, there are over 320 million crypto users globally in 2022. Besides, the majority of businesses today use crypto assets for payment purposes.

Top Two Countries for High Crypto Adoptions

Huobi Research shares its latest annual reports announcing the United States holds 9.2% of global centralized exchange (CEX) volume. Additionally, accounts 31.8% of global volumes in decentralized finance (DeFi). Further, not less but 13.7% of the population in the U.S use cryptocurrencies. More so, securing high rates in all the outlined factors, U.S ranks the first position for “most mature crypto market”. 

In line with that, Vietnam holds the second place with a high proportion of 20.3% of crypto users in the country. According to Houbi Research, Vietnam is the highest crypto adoption country. For instance, the trading activity in South Korea and Japan remains highly active in 2022. 

Importantly, Japan and South Korea’s contribution towards the crypto exchanges are enormous. This shook the entire crypto industry, thinking about how these 2 countries were able to thrive in the bear market.