BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
SUBSCRIBE
BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
BlockNews.com
No Result
View All Result
Home Crypto

Crypto Flourishes in Vietnam with 16.6 million Holders

BlockNews Team by BlockNews Team
March 22, 2023
in Crypto, Investing, Media, Social
Reading Time: 3 mins read
A A
vietnam crypto
1
SHARES
10
VIEWS
Share on TwitterShare on Reddit

Vietnam has emerged as a key player in the international cryptocurrency market, with about 17% of its population possessing digital currencies.

You might also like

Alarming Binance Outflows Continue After SEC Charges

Rapid Growth In Defi-Focused Ethereum Liquid Staking Derivatives Platforms Raises Eyebrows

Bitcoin Is Unstoppable, Fiat Cannot Be Fixed, And AI Will Accelerate Its Collapse – Jeff Booth

  • Bitcoin is the most popular digital currency, with 16.6 million Vietnamese owners.
  • Vietnam is the world’s cryptocurrency adoption leader with a score of 1.000.
  • Axie Infinity, Coin98, and Kyber Network are three Vietnamese-founded businesses that rank among the top 200 blockchain enterprises worldwide.

Crypto Market Report

According to the “Vietnam Crypto Market Report 2022,” with 17% of its people investing in cryptocurrencies, Vietnam is one of the top nations for cryptocurrency adoption. This means that the majority of cryptocurrencies, bitcoin, are owned by about 16.6 million Vietnamese people.

With a perfect score of 1.000, Chainalysis has also classified Vietnam as the world leader in bitcoin adoption. The Philippines and Ukraine, which came in second and third, respectively, are ranked below the Asian nation in this survey.

Bitcoin the Most Popular Asset

Bitcoin is the most popular digital asset in Vietnam, according to the “Vietnam Crypto Market Report 2022,” with 31% of investors. Thailand is the only nation in the Association of Southeast Asian States (ASEAN) with more cryptocurrency investors than Vietnam, according to the report.

Vietnam is home to a large number of cryptocurrency investors as well as numerous blockchain initiatives that concentrate on GameFi (Game Finance), NFTs, or Web3. Axie Infinity, Coin98, and Kyber Network are just a few of the top 200 blockchain companies founded by Vietnamese entrepreneurs.

Axie Infinity: From Hacking Scandal to Success

The blockchain-based game Axie Infinity has gone through its fair share of ups and downs. The game was the target of the Lazarus Group, a North Korean hacking group, in March 2022, which stole approximately $600 million in cryptocurrency from the Ronin Network. This Ethereum-linked sidechain drives Axie Infinity. After making security policy improvements, the project resumed operations three months later.

Despite this setback, Axie Infinity has maintained its popularity; at the start of 2022, there were around three million users. Before peaking once more at the beginning of 2023, the user base fell below one million in the months that followed. Vietnam was identified as the world leader in cryptocurrency adoption by Chainalysis’ “2022 Global Crypto Adoption Index” report, with a portion of this success attributable to the tremendous demand for blockchain-based games in the area.

Conclusion

With almost 16.6 million Vietnamese owning digital currencies, Vietnam has emerged as one of the top nations for cryptocurrency adoption. The most favored digital asset in Vietnam is bitcoin, thanks to its appeal among local investors. Vietnam has also been prosperous in cryptocurrency thanks to its interest in blockchain-based games like Axie Infinity, with the nation being named the world’s top in bitcoin adoption by Chainalysis.

Vietnam’s standing in the sector is anticipated to grow even more vital as the cryptocurrency market continues to expand and change. Vietnam is devoted to fully utilizing the potential of blockchain technology, given that the nation is home to various blockchain initiatives that mainly concentrate on GameFi, NFTs, or Web3. It would be interesting to observe how Vietnam maintains its position as a global leader in the cryptocurrency industry as cryptocurrency adoption grows worldwide.

Tags: cryptomarket researchreportstudyVietnam
TweetShareShare

Recommended For You

Alarming Binance Outflows Continue After SEC Charges

by BlockNews Team
June 8, 2023
0
Binance-Logo-on-Phone

Binance outflows on Ethereum reach nearly $800 million Binance stablecoin reserves maintain stability. Following the lawsuit filed by the SEC against Binance and its CEO CZ, investors have withdrawn approximately $790 million from...

Read more

Rapid Growth In Defi-Focused Ethereum Liquid Staking Derivatives Platforms Raises Eyebrows

by BlockNews Team
June 8, 2023
0
defi liquid staking

Tokens known as liquid staking derivatives (LSD) may increase Ethereum network activity and fuel the current bull market. DeFi protocols' gas usage has dropped from 34% in 2020...

Read more

Bitcoin Is Unstoppable, Fiat Cannot Be Fixed, And AI Will Accelerate Its Collapse – Jeff Booth

by BlockNews Team
June 8, 2023
0
Bitcoin

While the rise of AI speeds up the downfall of the defective fiat system, Bitcoin offers a safe alternative by being able to manage currency devaluation and mounting...

Read more

Binance vs. SEC: Crypto industry debates ‘Tai Chi’ vs. ‘Operation Chokepoint 2.0’

by BlockNews Team
June 8, 2023
0
SEC-Warns

The SEC has been doing a Crypto Crack down which is affected many crypto entities operating in the U.S The SEC lawsuit comes just months after the CFTC...

Read more

AI-Powered Platform, Walbi to Launch MVP, to Improve Decision Making for Crypto Traders

by BlockNews Team
June 8, 2023
0
walbi

Walbi has developed an AI-driven solution to assist traders in making data-driven decisions and potentially increase profitability. The solution includes features such as an AI-based trading assistant, an...

Read more
Next Post
bitcoin price

Bitcoin Price Prediction: BTC Back Below $28K As US Banking Crisis Escalates

Related News

Bitcoin

Is Bitcoin Forming A Bottom As $740M In BTC Leave exchanges?

October 21, 2022
ftx Building

FTX Spent Company Money Flying, Eating, and Sleeping Around;  $40M On Hotels, Flights & Food In 2022

January 9, 2023
silvergate

Crypto-friendly Bank Silvergate Bows Out As It Announces Liquidation

March 10, 2023

Browse by Category

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized
BlockNews.com

BlockNews.com brings you the most important Crypto and NFT news in the space.

CATEGORIES

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized

RECENT POSTS

  • Alarming Binance Outflows Continue After SEC Charges June 8, 2023
  • Rapid Growth In Defi-Focused Ethereum Liquid Staking Derivatives Platforms Raises Eyebrows June 8, 2023
  • Bitcoin Is Unstoppable, Fiat Cannot Be Fixed, And AI Will Accelerate Its Collapse – Jeff Booth June 8, 2023

© 2022 BlockNews.com - Crypto and NFT news website by JRNY Club.

No Result
View All Result
  • Home
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides

© 2022 BlockNews.com - Crypto and NFT news website by JRNY Club.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?