Vietnam has recently secured the third position globally in terms of the number of cryptocurrency holders, with nearly 26 million individuals, according to a report from Crypto Crunch App.
India leads the rankings with 157.6 million cryptocurrency owners, showcasing a significant shift towards digital financial solutions. The United States holds the second spot with 44.3 million enthusiasts, reflecting a high adoption rate in a nation that champions technological and financial innovation.
Despite Vietnam having a population exceeding 100 million, it claims the third position globally, as 25.9 million people actively engage in cryptocurrency. This trend aligns with the country’s rapid technological growth. Notably, China, despite implementing measures to restrict cryptocurrency transactions, remains in the fourth position with 19.9 million cryptocurrency owners.
Further down the rankings, Brazil, the Philippines, and Pakistan follow closely, with 17.8 million, 14.8 million, and 14.7 million cryptocurrency owners, respectively.
The current price of Bitcoin hovers around $44,000, contributing to its market dominance with a capitalization of $859.52 billion, accounting for nearly 53% of the total cryptocurrency market.
Investors are increasingly confident that the Federal Reserve has completed its rate hike cycle amid cooling inflation, sparking interest in riskier assets, including cryptocurrencies. According to Tony Sycamore, a market analyst at IG Australia Pty, Bitcoin’s ongoing price increase is driven by optimism about the potential approval of a Bitcoin ETF by the US Securities and Exchange Commission, as shared with Bloomberg.
Related
Source: Vietnam Insider