Despite this year’s sharp declines in price for Bitcoin and other cryptocurrencies, crypto demand worldwide is still “very robust.” According to Huobi Global, the U.S. constitutes for around 9.2% volume of the world’s centralized exchange (CEX). This percentage is much greater for DeFi, at 31.8% of global volumes. In 2022, Vietnam and the United States have the highest scores for crypto maturity.
Only 13.7% of Americans utilize bitcoin and other cryptocurrencies, yet they account for the most trading volume. However, compared to some other countries, fewer people in this country use cryptocurrencies. According to the report, lesser percentage of Americans utilize cryptocurrency compared to 20.3% in Vietnam. Vietnam has the highest rate of bitcoin adoption, and both South Korea and Japan’s crypto trading scenes are described as being very attractive in Asian market. Further, crypto exchanges have seen a significant increase in traffic from Japan and South Korea. Particularly, Japan came in sixth with 3.85% and South Korea came in second with 7.4% in Asia. Given the velocity of legislative expansion and the adoption of cryptocurrencies as a technology, Singapore also stands out for its attitude. The finest location for technology startups is now Singapore, which has drawn a lot of innovators and unicorn businesses, including obviously the crypto players.
Following table shows maturity index different countries based on parameters such as crypto users, DeFi share, share of CEXs;
|Country||Percentage of Crypto Users||Share of CEXs||Share of DeFi||Crypto Maturity Index|