The dominance of Asia in the global cryptocurrency market is highlighted in a new report by Foresight Ventures and Primitive. Asia accounts for 60% of worldwide crypto users and contributes the largest share of global liquidity. Five Asian countries, including India, Indonesia, and Vietnam, rank among the top 10 in the 2024 Global Crypto Adoption Index. The report attributes Asia's increasing crypto adoption to the use of centralized exchanges (CEXs) and price-sensitive communities. Asian users also generate the most global traffic to CEXs. North America leads in decentralized exchange (DEX) usage, while Oceania contributes very little to global CEX and DEX traffic. Singapore is highlighted as a leader in crypto payments, processing nearly $1 billion in crypto transactions in Q2 2024. Contrary to the belief that China has banned crypto, the report states that there is a thriving crypto ecosystem in the country, with users bypassing capital controls using stablecoins and relying on DeFi platforms and DEXs. Overall, Asia's significant contribution to crypto adoption and liquidity reflects its pivotal role in shaping the industry's future.



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