Crypto Flourishes in Vietnam With 16.6 Million Holders (Report)

The “Vietnam Crypto Market Report 2022” revealed that 16.6 cardinal Vietnamese ain integer currencies, pinch bitcoin being nan astir celebrated asset.

Another investigation conducted by Chainalysis placed nan Asian state arsenic nan world’s cryptocurrency take leader, pinch a people of 1.000.

Close to nan Top

The study, reported by a section media outlet, estimated that 16.6 cardinal Vietnamese had purchased cryptocurrencies (approximately 17% of nan country’s population). 31% of those person invested successful bitcoin, making it nan astir preferred integer asset.

The investigation wished that Thailand is nan only state pinch much HODLers than Vietnam successful nan Association of Southeast Asian Nations (ASEAN). 

Apart from having a sizeable number of crypto investors, Vietnam is besides location to aggregate blockchain projects that chiefly attraction connected GameFi (Game Finance), NFTs, aliases Web3. 

Vietnamese person founded 7 of nan apical 200 blockchain organizations globally, pinch Axie Infinity, Coin98, and Kyber Network being immoderate of nan examples. Axie Infinity is among nan astir celebrated blockchain-based games, reaching a highest of astir 3 cardinal users astatine nan opening of 2022. The personification guidelines dropped beneath 1 cardinal successful nan pursuing months earlier spiking again astatine nan commencement of 2023.

The crippled suffered a terrible blowback successful March past twelvemonth aft nan North Korean hacking corporate – nan Lazarus Group – drained over $600 cardinal worthy of integer currencies from Ronin Network – an Ethereum-linked sidechain that powers Axie Infinity. The project improved its information argumentation and restarted operations 3 months later.

A Global Leader According to Chainalysis

“The 2022 Global Crypto Adoption Index,” a study carried retired by Chainalysis, outlined Vietnam arsenic nan world’s cryptocurrency take leader, reaching a people of 1.000. The level claimed that 1 logic down that occurrence could beryllium nan precocious liking successful blockchain-based games successful nan region. It is worthy noting that Vietnam classed first successful nan 2021 research, too.

The Philippines – different state located successful South East Asia – was 2nd pinch a people of 0.753, while war-torn Ukraine was 3rd pinch 0.694.

Most nations successful nan apical 20 database included lower-middle-income economies, specified arsenic Nigeria and Indonesia, and upper-middle-income ones (Argentina, Brazil, Turkey).

Two of nan world’s ace economies – nan United States of America and nan United Kingdom – besides recovered their place, ranking respectively 5th and 17th.