According to a local media article on Thursday that referenced the “Vietnam Crypto Market Study 2022,” there are presently more than 16.6 million cryptocurrency owners in Vietnam, with 31% owning bitcoin.
Vietnam is now the Southeast Asian nation with the second-highest percentage of cryptocurrency investors, behind Thailand. In Vietnam, where there are already more than 97 million residents, roughly 17% of the populace is crypto-related.
In Vietnam, about 200 blockchain projects are active
Over 200 blockchain initiatives are running in Vietnam, according to the research. The majority of the nation’s active blockchain initiatives concentrate on non-fungible tokens (NFTs), Web 3 infrastructure, wallets, game finance (GameFi), and decentralized finance (DeFi).
According to the research, gaming, and metaverse initiatives they comprised 28.8% of the 200 active projects in Vietnam, DeFi with 26.0%, NFT with 12.4%, Infrastructure with 11.3%, and Web3 with 5.1%.
Axie Infinity, Kyber Network, Coin98, Rikkei Finance, Spores, Titan Hunters, TomoChain, SotaTek, and more projects are among them. According to the survey, 10 of the 200 enterprises have a token market value of more than $100 million and are influential on a global scale.
The survey also disclosed some well-known blockchain initiatives in the nation’s token market caps. Axie had the country’s most significant token market cap as of the end of 2022 with a $790 million valuation. Kyber Network, with $87 million, and Coin98, with $36.4 million, are further initiatives on the list. The research claims that seven of the top 200 blockchain startups in the world were started by Vietnamese people.
Vietnam’s Crypto Sector Continues to Expand According to the most recent research, Vietnam’s crypto sector has expanded dramatically despite government efforts to restrict investors’ interactions with the asset class.
The survey also disclosed some of the well-known blockchain initiatives running in the nation’s token market caps. Axie had the greatest token market cap in the nation as of the end of 2022 with a $790 million valuation. Kyber Network, with $87 million, and Coin98, with $36.4 million, are further initiatives on the list. The research claims that seven of the top 200 blockchain startups in the world were started by Vietnamese people.
Vietnam sees growth in cryptocurrency.
The most recent research demonstrates that despite government efforts to restrict investors’ activity with the asset class, the crypto sector in Vietnam has continued to grow rapidly.
The State Bank of Vietnam, the nation’s central bank, declared in 2020 that it does not recognize cryptocurrency as legal tender or a form of payment in Vietnam. In addition, the regulator forbade nationals and organizations from holding cryptocurrency or engaging in connected transactions.
