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- The most densely populated continent, Asia, will play a leading role in the crypto markets in the years to come.
- Even now, several brands among the top ten cryptos are rooted in Asia.
- Several mining farms are also strategically situated in Asian countries.
Though there may be a spiked-up hype about cryptocurrencies in the Western nations, Asian countries hold the future to its expansion and subsequent mass adoption.
The right mix of conditions for Asian markets
The real success of DeFi currencies would be in its mass adoption across the world, and Asia holds the key as it is home to about 60% of the world’s population. In an exhaustive 98-page study conducted by blockchain researcher Mira Christanto from the messari.io, specific prospects of why Asia may be ripe and fertile for the crypto industry developments are discussed. Home to countries such as China, Japan, Indonesia, Hong Kong, and India, Asia has become the world’s largest financial hub, with Shanghai, Japan, and Hong Kong being among the world’s top stock markets. Since traditionally, demands in several of these countries have been oppressed under a capitalist-controlled regime, people generally turn towards cryptos as alternative means of payments. Moreover, several steps have been taken by China and India’s governments to regulate the industry while also enabling the introduction of national legal and native cryptocurrencies. In her detailed report, Mira highlights several facts, including the highest penetration of crypto investors in South Korea, exchanges such as Binance, Huobi, Okex located in Asia, and Japan’s unique market largest retail forex industry. All these factors combined make Asian markets lucrative for further investments in the industry.
Asian Markets Can Bring Mass Adoption for cryptocurrency
Education also plays a vital role, and the fact that several young people pursuing graduation in Computer Science in Asia are an essential factor to be considered. Countries here especially have a high degree of internet penetration and skilled individuals who are competent enough to handle DeFi currencies and tend to gamble. Isolated crypto markets are becoming a commonplace feature as Asian nations adopt a capital-controlling nature, giving a free hand for investors to contribute flexibly. Even by the end of 2019, it was observed that with a market capitalization of close to 42%, all of the top ten largest crypto industries were located in Asia, which further asserts its dominance as a leader in the current scenario.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
