Bitcoin (Bitcoin) and cryptocurrencies are used by only 13.7% of Americans, yet generate more trading volume than anyone else.
of latest data A study compiled by exchange Huobi confirms that the United States will be the most “mature” cryptocurrency market in 2022.
US and Vietnam Lead Cryptocurrencies
Even though Bitcoin and altcoin prices have fallen significantly this year, interest around the world remains “extremely active,” which might surprise leaders.
Huobi Research, an affiliate of Huobi Global, revealed in its latest annual report that the United States accounts for 9.2% of global centralized exchange (CEX) trading volume. For DeFi, the figure is even higher at 31.8% of global trading volume.
At the same time, the percentage of the population using crypto is not as high as in some other jurisdictions.The report shows that 13.7% of Americans use cryptocurrencies, while Vietnam has 20.3%, the highest among those surveyed. Top of 15 countries.
Overall, however, the U.S. achieved the highest normalized score for “Crypto Market Maturity,” far ahead of any of its competitors. His second on the list is Vietnam, with a score of 35 to the United States’ 91.9.
Nevertheless, Huobi describes Vietnam as the country with “the highest rate of cryptocurrency adoption” and calls the crypto trading scenes in both South Korea and Japan “very active.”
“Japan and South Korea have brought significant traffic to the exchanges. Specifically, South Korea ranked second with 7.4% and Japan ranked sixth with 3.85%.
At the other end of the spectrum, the countries with the lowest maturity scores are China, Singapore and South Korea with 5.9, 9.4 and 14.5 respectively.
Singapore stands out in its position given its growing regulation and speed of acceptance of cryptocurrencies as a technology.
“Singapore has become a premier destination for tech startups, attracting many innovators and unicorns, not to mention cryptocurrency players,” Huobi wrote.
“Singapore remains highly tolerant and open to the cryptocurrency industry. Regulations are in place, but there is still plenty of room for innovation.”
Nevertheless, the report identifies that only 4.9% of Singapore’s population trades cryptocurrencies, with an internet population index of just 2/100 and contributing 0.8% of global CEX volume. I’m here.
‘Appropriate’ Regulations Prevent FTX Black Swan
Meanwhile, the report acknowledges that the regulatory landscape is tenuous for cryptocurrencies following the FTX scandal.
Related: Will Grayscale be the next FTX?
Nonetheless, FTX says the Terra LUNA debacle and Three Arrows Capital (3AC) bankruptcy are more imminent, so it won’t be the biggest catastrophe for cryptocurrencies this year.
“FTX’s bankruptcy is the third most impactful event of 2022, following the collapse of Terra and 3AC,” he said.
“The main issues in the FTX case were misappropriation of funds, affiliated company transactions with Alameda Research, etc. At the time, some U.S. regulators were either investigating the matter or had already investigated it months earlier. However, FTX will not have an incident if the cryptocurrency regulations in each country are properly implemented.”
Cointelegraph continues report widely About the latest events surrounding FTX and its impact on the crypto market.
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