According to Triple.A’s data report, the Asian continent is leading global crypto ownership, adding another 58.6 million crypto owners in just one year. Currently, Asia is home to over 326.8 million crypto holders, representing a 21.8% surge from 2023.
Asia has the most crypto owners
Global crypto ownership stands at 562 million, representing 6.8% of the worldwide population. Asia’s crypto ownership makes up most of that, accounting for over 326.8 million.
Region-wise, Eastern Asia takes the lead in crypto value received, accounting for almost 9% of the global total between July 2023 and June 2024. The region earned over $400 billion in on-chain value in the same period.
Centralized exchanges play a crucial role in East Asia’s crypto community, accounting for approximately 65% of the region’s received crypto transaction value. A key factor driving the popularity of these exchanges is the substantial volume of crypto transfers between institutions and investors, making East Asia the leading region for large-scale professional transfers.
Hong Kong and South Korea boost Asia’s crypto activity
According to Chainanalysis, Hong Kong has seen the most significant surge in cryptocurrency activity in East Asia. Despite a crackdown on cryptocurrencies in Mainland China, the city has retained acceptance and decisiveness in crypto. This year, it took 30th place in the Global Cryptocurrency Adoption Index rankings, up from 47th in 2023.
Also, Hong Kong had the highest surge in crypto transaction value in East Asia, with roughly an 86% spike year-over-year. Some analysts suggest that this surge results from the government’s efforts to provide regulatory clarity for the crypto space.
The Hong Kong government initiated policy support for digital assets in 2022 and implemented the first licensing requirements for cryptocurrency exchanges in June 2023. Since then, the city has also launched exchange-traded funds that invest directly in cryptocurrency tokens and is currently working on regulations for stablecoins.
On the other hand, South Korea saw the most significant cryptocurrency transaction value in East Asia. The county accumulated over $130 billion in crypto transaction value between July 2023 and June 2024. The growing disinterest and mistrust in traditional currency systems have promoted the use of crypto in the country, resulting in the bulk value. Moreover, multiple investors are buying crypto following examples of large corporations like Samsung using blockchain in their operations.
Source: https://www.cryptopolitan.com/asias-crypto-ownership-surges-21-8-in-2024/