A recent report determined that the United States and Vietnam are known to have the best crypto market. In 2022 data was collected in the U.S., which says that only 13.7% of the American population uses Crypto. But it was also seen that the U.S. have a high exchange volume of Crypto than any other country.
This year even when the price of Bitcoin and Altcoin was going down still, the world remained highly active, and that was indeed surprising for all leaders, as we discussed before; although there is minimum use of Crypto in the U.S., they are still high in the exchange. Hence recent research report calculated that the U.S. has about 9.2% of worldwide centralized exchange volume.
At the same time, 15 countries were examined to compare the data, and it realized that the use of Crypto is low in both countries. The U.S. has 13.7% of users, and Vietnam has 20.3% of crypto users.
Overall we have two countries scoring high in the crypto market maturity. On the top of the list, we first have Americans and second Vietnam. However, the research data concluded that Vietnam has the highest adoption rate of Crypto. Still, we must remember Japan and South Korea are highly active in trading.
Japan and South Korea both were the countries who contributed a tremendous amount to the exchange of Crypto; specifically, South Korea ranked second, having 7.4%, and sixth, we have Japan, with 3.85% in Asia.
However, we also have those countries having the lowest crypto maturity rate, and we have China (5.9%), Singapore (9.4%), and South Korea (14.5%) on our list.
Considering Singapore separately according to the regulatory expansion rate and accepting Crypto as a country technology, Singapore stands on its position accurately.
Singapore will be the best destination if you are searching for technology startups. Hence it has a large number of luring innovators and unicorn companies. These companies will include the crypto players naturally.
No doubt Singapore highly accepts and maintains crypto industries; indeed, regulations can be enforced, but they still offer a broad chance for innovations. However, more is needed. They still trade only 4.9% of Crypto and have a Global CEX volume of 0.8%, which is undoubtedly significantly lower.
Want to prevent FTX black swans try appropriate regulation
This report is mainly about the FTX scandal, which may be questionable for Crypto. Although FTX is not a big issue for Crypto, the main thing is the misappropriation of funds and affiliated transactions between Alameda researchers. A few months ago, U.S. regulators started investigating this issue. If all the crypto assets are appropriately placed, there will be the slightest chance of FTX scandals.
Overall, the report was about U.S. and Vietnam, which are also said to be mature crypto markets. As it was also seen in research that after examining 15 countries USA was said to be the least Crypto using country. But yes, they have a high exchange volume. FTX incidents and their effects on the crypto market were also discussed.