Recently, Messari crypto researcher Mira Christanto published a report that delved into the field of cryptocurrency in Asia, as 60% of the world’s population lives in this region. Christanto’s research shows that six of the top ten largest cryptocurrency unicorns are located in Asia. In addition, 98% of Ethereum-based futures are from Bitcoin, and 94% of Bitcoin futures are from Asia.
Asia’s financial landscape has matured
When it comes to cryptocurrency, Asia accounts for a huge number of crypto users, companies, miners, traders, etc. Cryptocurrency and blockchain researcher from messari.io, Mira ChristantoExplains that Asia has a “history of dictators, devaluation of currencies, [and] Capital control-everything is ready for destruction. According to Christanto’s latest findings, this may lead to Asia becoming the most active cryptocurrency market.
Her recently published research titled “Asia’s Cryptocurrency Landscape” covers “the main exchanges, funds and market makers that define cryptocurrencies in China, Japan, South Korea, Hong Kong, Singapore and Southeast Asia, as well as regulatory and investment trends. Commented.” The 98-page study covers China, Japan, Hong Kong, India, South Korea, Singapore, the Philippines, Thailand, Indonesia, Vietnam, Malaysia and other countries.
Christanto’s report said: “Leading cryptocurrency countries, such as China, Japan, South Korea, Hong Kong and Singapore, have large amounts of liquidity, while other countries have huge potential for expansion.” She added: “The nature of traditional finance is The adoption of cryptocurrencies played a key role: capital controls pushed investors to cryptocurrencies in China and South Korea, while low yields pushed Japan to adopt cryptocurrencies.
Christanto’s data further shows: “By the end of 2019, six of the world’s top ten crypto companies are located in Asia.” “As of January 12, 2021, 42% of the top 20 token projects at headquarters are located in Asia. For various reasons, Asia plays a pivotal role in the cryptocurrency market.”
Christanto’s report continues:
Each country has its own nuances, but factors include the high penetration rate of public market investment, high-tech pedigree, WiFi penetration rate, deep penetration rate of electronic payments, gambling tendency and high proportion of computer science graduates. In addition, the development of Asia as a financial center has also contributed to the development of financial technology. Japan, Shanghai and Hong Kong are among the top five stock markets in the world.
Asia’s booming cryptocurrency landscape
Some key facts from Christanto’s research indicate:
- The sum of Binance, Huobi and Okex is the same as Coinbase.
- Hong Kong is home to some of the largest cryptocurrency derivatives companies in the industry.
- Japan is the largest unique market for the retail foreign exchange industry, accounting for one-third of the total global foreign exchange transaction volume (FX) and contract for difference (CFD) retail volume.
- South Korea has the highest penetration rate of cryptocurrency investors, with one third of workers investing in cryptocurrency.
- Despite strict compliance with AML, KYC, appropriate and appropriate controllers, and compliance with the FATF Travel Rule, Singapore is one of the more relaxed Asian markets for cryptocurrency regulations.
- The Philippines is one of the largest overseas migrant workers in the world and ranks fourth among the global remittance recipients.
The Asian “cryptocurrency landscape” research results also show that many Asian countries/regions have a booming landscape, and all these countries have different reasons. Christianto said, for example, Vietnam’s capital controls “means that the crypto spot market is operating in isolation to a certain extent.” The report pointed out that the Vietnamese market is driven by retail, “When Bitcoin prices fluctuate, Vietnam The market will lag for a few days.”
In Malaysia, Luno is the country’s largest exchange. The company was established in Cape Town, South Africa in 2013, and is on par with Singapore. Christanto and messari.io’s research also got help from the independent blockchain infrastructure platform Blockdaemon.
You can read Mira Christanto’s messari.io research report on the field of Asian cryptocurrency in full Here.
What do you think of Christanto’s 98-page research covering Asian cryptocurrency research? Let us know your thoughts on this topic in the comments section below.
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