• The “Vietnam Crypto Market Report 2022” revealed that 16.6 million Vietnamese own digital currencies, with Bitcoin being the most popular asset.
• 31% of those have invested in Bitcoin, making it the most preferred digital asset.
• Close to the top, Vietnam is also home to multiple blockchain projects that primarily focus on GameFi (Game Finance), NFTs, or Web3.
Crypto Flourishes in Vietnam
The latest data revealed that around 17% of Vietnam’s population have jumped on the cryptocurrency bandwagon. The “Vietnam Crypto Market Report 2022” estimated that 16.6 million Vietnamese had purchased cryptocurrencies (approximately 17% of the country’s population).
Most Popular Cryptocurrency: Bitcoin
31% of those have invested in bitcoin, making it the most preferred digital asset. Thailand is the only country with more HODLers than Vietnam in the Association of Southeast Asian Nations (ASEAN).
Popular Blockchain Projects
Apart from having a considerable number of crypto investors, Vietnam is also home to multiple blockchain projects that primarily focus on GameFi (Game Finance), NFTs, or Web3. Vietnamese have founded seven of the top 200 blockchain organizations globally, including Axie Infinity, Coin98 and Kyber Network. Axie Infinity is among the most popular blockchain-based games and has seen an upswing in users at various points this year with a peak of nearly three million users at the beginning of 2022.
Crypto Adoption Leader
Another research conducted by Chainalysis placed the Asian country as the world’s cryptocurrency adoption leader, with a score of 1.000. This score indicates that despite some minor fluctuations in user base size for certain games and applications – overall crypto adoption remains strong throughout 2020 and 2021 in Vietnam compared to other countries across Asia and beyond.
In conclusion, it appears that crypto investments are flourishing in Vietnam due to its high rate of adoption among citizens there compared to other countries across Asia and beyond – as demonstrated by Chainalysis’ score rating system as well as various reports produced by local media outlets over recent years concerning crypto trends within Vietnam itself