Cryptocurrency Boom in Vietnam with 16.6 Million Holders (Report)

The “Vietnam Crypto Market Report 2022” revealed that 16.6 million Vietnamese own digital currencies, with Bitcoin being the most popular asset.

Other research by Chainalysis put the Asian country at the top of the world in cryptocurrency adoption, with a score of 1,000.

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the study, mentioned Through a local media outlet, it has been estimated that 16.6 million Vietnamese (roughly 17% of the country’s population) have purchased cryptocurrencies. 31% of these have invested in bitcoin, making it the digital asset of choice.

The research determined that Thailand is the only country with more HODLers than Vietnam in the Association of Southeast Asian Nations (ASEAN).

In addition to having a large number of crypto investors, Vietnam is also home to many blockchain projects that mainly focus on GameFi (Game Finance), NFTs or Web3.

The Vietnamese have founded seven of the top 200 blockchain organizations globally, examples of which include Axie Infinity, Coin98, and Kyber Network. Axie Infinity is among the most popular blockchain-based games, peaking at nearly three million users in early 2022. The user base dipped below a million users in the following months before rising again in early 2023.

The game suffered a heavy blow last March after the North Korean hacker group – Lazarus Group – drain Over $600 million in cryptocurrency from the Ronin Network – an Ethereum-linked side chain that powers Axie Infinity. The project to improve its security policy and resumed operations three months later.

A world leader according to Chainalysis

“2022 Global Crypto Adoption Index,” a study by Chainalysis, available here. the summary Vietnam is the world leader in cryptocurrency adoption, reaching a score of 1000. The platform claimed that one of the reasons for this success may be the high interest in blockchain-based games in the region. It is worth noting that Vietnam ranked first in the 2021 search as well.

The Philippines — another country in Southeast Asia — ranks second with a score of 0.753, while war-torn Ukraine ranks third with a score of 0.694.

Most of the countries in the top 20 list included lower-middle-income economies, such as Nigeria and Indonesia, and upper-middle-income countries (Argentina, Brazil, and Turkey).

Two of the world’s super economies – the USA and the UK – also found their place in the 5th and 17th positions, respectively.

Post Crypto Booms in Vietnam With 16.6 Million Holders (Report) appeared first on CryptoPotato.

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