CMC: Indonesia Ranks 5th in Crypto Use
05 Oktober 2024
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Blockchainmedia - Regarding the level of global crypto usage, Indonesia is ranked 5th, beating Russia and Türkiye, according to research from CoinMarketCap (CMC). Solana is the 2nd most popular in Asia.
This was revealed in research results from CoinMarketCap (CMC) for the 3rd quarter of 2024.
The crypto usage category is based on data from users of the popular site from many countries.
In the statistical graph presented, active crypto users originating from Indonesia dominated by 5.87 percent throughout the 3rd quarter. This figure decreased slightly compared to the second quarter, namely 6.43 percent.
At the peak of the acquisition were users from the United States with dominance reaching 16.58 percent during the third quarter. Meanwhile, in second and third positions, respectively, are occupied by India and Brazil, which both rose compared to the second quarter.
Below Indonesia are Russia and Türkiye which experienced a decline in dominance in the third quarter, namely 5.58 percent and 5.56 percent respectively.
Indonesia, as part of Asia, is in the special spotlight when it comes to the most popular cryptocurrencies. In this research, it was stated that Bitcoin dominates interest in Asia with a percentage of 51.32 percent. Below that, there are Solana, Ethereum, Toncoin, and DOGS. Solana is equally popular in North America and Europe.
Indonesia and Crypto Globally
In different previous reports, Indonesia was ranked second in the world in interest in RWA (Real World Assets) crypto, at number one was the United States and in third was Türkiye. The popularity of tokenization principles related to the RWA sector was predicted earlier by the large financial company, BlackRock.
These three countries will contribute more than a third of global interest in the RWA narrative by 2024, with a total contribution of 33 percent. This was revealed in the latest research from Coingecko.
The United States recorded the highest interest in RWA crypto this year, accounting for 14.8 percent of total global interest. This ranking confirms the US' position as a major center in the development of various crypto narratives, including small-cap tokens and cryptocurrencies related to artificial intelligence (AI).
In the latest development, Indonesia also reached 12th place in the list of countries with the largest crypto ownership in the world in 2024.
Based on the latest report from the digital payment service provider company that focuses on crypto, Triple A, around 13.9 percent of Indonesia's population now owns crypto assets.
This figure shows that crypto adoption in Indonesia is experiencing rapid growth and is getting closer to the top countries in terms of crypto ownership.
A study supported by VISA revealed that the use of stablecoins in Indonesia is increasingly diverse. The function of stablecoins is not only for trading crypto assets on various exchanges, but also transforming into a much more efficient alternative to banking services.
The use of stablecoins in Indonesia is widespread, not only for crypto asset trading needs, but also as an alternative to traditional banking. Many users now rely on stablecoins as a means to convert US dollar stablecoins (such as USDT) and euros, make payments between countries, and store savings in the form of digital dollars.
According to the latest report from Chainalysis, Indonesia is ranked third in the world in crypto asset adoption. In last year's report, Indonesia was ranked seventh.
“India continues to show dominance in crypto usage, especially through increased transactions on centralized exchanges and DeFi activity, which places the country in first place. "Meanwhile, Indonesia follows in third place, with high scores for DeFi services, both at the retail and overall level," explained Chainalysis.
What is CMC?
CoinMarketCap (CMC) is a platform that provides the latest data and information regarding cryptocurrencies. CMC was founded in 2013 by Brandon Chez. This platform was initially created to provide transparency and accessibility of information regarding prices, trading volumes and market capitalization of various cryptocurrencies on the market.
CoinMarketCap provides various important data such as current prices, price changes over a certain period, and trading volume for more than 7,000 cryptocurrencies. In addition, users can find information regarding the markets where the cryptocurrency is traded, as well as charts and analysis that help in making investment decisions.
Headquartered in Dover, Delaware, United States, CoinMarketCap has grown to become one of the main reference sources for crypto investors and traders around the world. In 2020, CMC was acquired by Binance, one of the largest crypto exchanges in the world and quite popular in Indonesia. CMC also has a Community portal which makes CMC a special social media for crypto fans around the world.
Source : id.investing.com