Data: Vietnam has over 16.6 million cryptocurrency holders, second only to Thailand in ASEAN

On March 16th, according to the “2022 Vietnam Cryptocurrency Market Report” recently released by Coin98 Insights, there are currently about 200 blockchain projects in operation in Vietnam, with gaming and metauniverse projects accounting for 28.8%, DeFi accounting for 26.0%, NFT accounting for 12.4%, infrastructure accounting for 11.3%, and Web3 accounting for 5.1%. Vietnam has over 16.6 million cryptocurrency holders, second only to Thailand in ASEAN, with 31% holding BTC; Seven of the world’s top 200 blockchain companies were founded by Vietnamese. （viet-jo.com）

Interpretation of this information:

According to a recent report by Coin98 Insights, the cryptocurrency market in Vietnam is thriving with the presence of about 200 blockchain projects. The report reveals that gaming and metauniverse projects are the most dominant, accounting for 28.8% of the market, followed by DeFi at 26.0%, NFT at 12.4%, infrastructure at 11.3%, and Web3 at 5.1%. Additionally, the report states that Vietnam has over 16.6 million cryptocurrency holders, with BTC being the most popular cryptocurrency, with 31% holder. Furthermore, the report highlights that seven of the world’s top 200 blockchain companies were established by Vietnamese. These statistics indicate a growing trend towards the adaptation of blockchain technology in the Southeast Asian country.

The surge of gaming and metauniverse projects in Vietnam could be attributed to the immense popularity of online games and virtual reality in the region. The country has a large and growing gaming industry, making it an ideal breeding ground for innovative blockchain gaming concepts, which could offer significant benefits to online gamers. Coupled with the rise of cryptocurrencies, many blockchain-based games offer the opportunity for players to earn cryptocurrencies, incentivizing them to play more.

The report also highlights the rapid growth of DeFi projects in the country, which have gained tremendous momentum in the past year. Decentralized finance is a notable use case for blockchain technology, allowing traditional banking services such as lending, borrowing, and trading without the need for intermediaries. With a significant percentage of the Vietnamese population being unbanked or underbanked, DeFi could offer a more accessible and inexpensive alternative to traditional banking services.

The NFT market in Vietnam is also on the rise, indicating a growing interest in the art and collectibles space. NFTs enable the creation of unique and indestructible digital assets, making them highly desirable to collectors and creators alike. As Vietnam is home to numerous talented artists, the intersection between art and blockchain technology could prove to be a fertile ground for innovation and creativity.

In summary, the Coin98 Insights report on the Vietnamese cryptocurrency market reveals a thriving ecosystem, with a considerable number of blockchain projects in operation. The report highlights the dominance of gaming and metauniverse projects, the rapid growth of DeFi, and the rising interest in NFTs. These keywords paint a picture of a country on the forefront of blockchain technology adoption, which could signal a bright future ahead for the Vietnamese tech industry.