Every tenth Russian owns a cryptocurrency

24.06.2023, 11:46
Huobi announced that every tenth Russian has a cryptocurrency
Every tenth Russian owns a cryptocurrency

Russia ranked third in terms of the maturity of the cryptocurrency market, according to the platform's research. When compiling the rating, the percentage of cryptocurrency users and the volume of use of CEX and DeFi services were taken into account

Huobi Research conducted a study according to which 10.1% of the Russian population owns cryptocurrency — 14.6 million people. In the annual report "Global Cryptocurrency. Industry and Trends Review" also states that Russia ranked third in the world in terms of the maturity of the cryptocurrency market. The first and second places in this list were taken by the USA and Vietnam, respectively.

The regional maturity index of the crypto market development takes into account the percentage of cryptocurrency users in countries from their total population, the volume of use of CEX (centralized platforms), DeFi traffic and the popularity of Internet requests.

According to researchers, in 2022 there are about 320 million users of cryptocurrencies in the world, of which more than 40% are residents of Asian countries. For comparison, in 2021 the number of users was 295 million, and in 2020 — 101 million. The study says that Vietnam has become the country with the highest level of cryptocurrency adoption: about 20 million Vietnamese use them, which is one fifth of the population of the South Asian state.

The largest number of visits to CEX exchanges falls on the USA (slightly more than 9%), South Korea (7.4%) and Russia (6.1%). The USA has the largest share in DeFi traffic (31.8%), which is about six times more than the traffic of the next country — Brazil (5%). Russia occupies the 14th position in this list (1.56%).

The population of South America, South Africa and the Middle East is very interested in cryptocurrency. The number of its users in Southeast Asia has reached 46 million, second only to North America. Cryptocurrencies are used for payments and savings in South America and Africa, with more than a third of the citizens of these regions using stablecoins daily.

Singapore is named the new center of cryptography and the main node of Web3, because it maintains a high tolerance and openness to the crypto industry: the rules are followed, but there are many opportunities for innovation.

At the same time, Hong Kong was called a "sleeping financial center". Due to a series of radical bans in the crypto industry in mainland China, Hong Kong has lost its advantages over other regions that it had a few years ago. However, it is expected that the newly opened Hong Kong crypto market will be expanded after the adoption of new legislative rules concerning cryptocurrencies.

Source: RBC Crypto

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