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Crypto operations in Asia and Oceania increase more than 700% in just one year

Institutional movements are the main responsible for the jump.

China’s ban on mining and crypto trading in May had the opposite effect on the region; digital asset trading not only did not decline, it grew considerably. Recent research by Chainalysis revealed that crypto transactions increased 706% in Central and South Asia and Oceania between July 2020 and June 2021.

The search for alternative assets to protect value and protect against inflation or escape government pressure was a global phenomenon after the economic crisis unleashed by the coronavirus. Asians mainly focused on the two largest cryptocurrencies on the market, bitcoin (BTC) and ether (ETH), to enter a new market.

According to the Chainalysis survey, cryptocurrency operations in the Asian region accounted for a total of $ 572.5 billion, which is equivalent to almost 15% of global operations. Europe and North America stand out as the most important region for the market, with movements exceeding one trillion dollars annually.

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Primarily responsible for such volume of operations, marked by the signing were the institutional investors. In India, for example, corporate transfers accounted for more than 40% of transactions.

However, the Asian region leads the digital asset retail adoption statistics. Vietnam, India, and Pakistan are the top three countries in the 2021 Global Crypto Adoption Index, also compiled by Chainalysis.

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