Blockchain and cryptocurrencies have been growing exponentially in popularity amongst the common people, and 2021 is proof of that. These DeFi systems have managed to make waves all across the globe, and the Asian market is no different.
New research by Chainalysis has shown that crypto transactions surged 706% in Asia, including countries like India, Vietnam, and Pakistan. Many central Asian countries had already been the early adopters of crypto and it is gaining more acceptance than ever,
This is because of the institutional backing that crypto has received in these countries. While the USA’s SEC and England’s regulatory bodies are still debating whether they would allow crypto to exist in the countries. Many Asian countries like Singapore, India, and Vietnam already see unicorns come out of the country.
Currently, Europe dominates the charts when it comes to crypto transactions, but Asia is catching up. Vietnam and India ranked first and second respectively in Asia, and they are steadily growing here. With China banning cryptocurrencies altogether in the country, India is one of the markets that crypto is looking to capture.
In India alone, institutional transactions were worth more than $10 million and amounted to 42% of all crypto transactions. If you have been planning to invest in crypto markets, today is the right time to do so. With new regions coming in to get a slice of the crypto pie, you’ll be hard-pressed to get a share at a reasonable price.
The best time to buy crypto was 5 years ago, and on the same note, the next best time is right now.