The “Vietnam Crypto Market Report 2022” found that there are 16.6 million Vietnamese digital currencies, with Bitcoin being the most popular asset.

Another research by Chainalysis placed the Asian country as the world’s cryptocurrency adoption leader with a score of 1.000.

near the top

study, Reported A local media outlet estimated that 16.6 million Vietnamese had purchased cryptocurrencies (about 17% of the country’s population). 31% of them have invested in Bitcoin, making it the most preferred digital asset.

Research shows that Thailand is the only country in the Association of Southeast Asian Nations (ASEAN) with more HODLers than Vietnam.

Besides having a considerable number of crypto investors, Vietnam also has many blockchain projects that are mainly focused on GameFi (game finance), NFTs, or Web3.

Vietnamese have founded seven of the top 200 blockchain organizations globally, with Axie Infinity, Coin98, and Kyber Network being some examples. Axie Infinity is one of the most popular blockchain-based games, reaching a peak of around 3 million users in early 2022. The user base fell below one million in recent months before spiking again in early 2023.

The game suffered a serious setback in March last year after the North Korean hacking collective – the Lazarus Group – was hacked. drain More than $600 million worth of digital currencies from the Ronin Network – an Ethereum-linked sidechain that powers Axie Infinity. project Improved Its security policy and re-operation after three months.

A global leader according to Chainalysis

“2022 Global Crypto Adoption Index,” a study by ChainAlysis, Outline Vietnam has reached a score of 1.000, as the leader of cryptocurrency adoption in the world. The platform claimed that one of the reasons behind that success could be the high interest in blockchain-based games in the region. It is worth noting that Vietnam was also ranked first in the 2021 research.

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Another South East Asian country, the Philippines was second with a score of 0.753 and war-torn Ukraine was third with a score of 0.694.

Most of the countries in the top 20 list include lower-middle-income economies such as Nigeria and Indonesia, and upper-middle-income ones (Argentina, Brazil, Turkey).

The world’s two super economies – the United States and the United Kingdom – also found their place, at 5th and 17th place, respectively.

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