Crypto in Indonesia enters the world’s top 20

Jakarta, – Today’s crypto news discusses the rapid growth of crypto assets in Indonesia.

Now, this crypto asset has been developed into the list of top 20 assets globally. This is also accompanied by investor interest, which continues to grow significantly. So how about a review, let’s take a look at today’s cryptocurrency news.

Indonesia’s Crypto Asset Growth Enters Top 20 Global – Cryptocurrency News Today

It is believed that the adoption of crypto assets in Indonesia will continue to grow over the next 10 years. Public education and literacy regarding the entrances and generalities of crypto assets and related sectors such as the blockchain remains the main thing that needs improvement.

Recent search from decomposition It released an index measuring cryptocurrency adoption globally in 2022.

Of these results, Indonesia ranked 20th and is included in the category of lower middle income developing countries with high growth in cryptocurrency adoption. Although Indonesia lost to Vietnam, which took first place.

Regarding this, the General President of the Association of Indonesian Asset Dealers (ASPAKRINDO), Teguh Kurniawan Harmanda, found that the inclusion of Indonesia in the list of the 2022 Global Crypto Adoption Index by Chainalysis was very encouraging. The reason is in the same report last year, Indonesia has not yet entered the top 20 countries.

According to him, this report is enough to prove that the growth of crypto assets in Indonesia is still going well despite the slowdown in the market.

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Quoted from his official statement, Manda explained: Bisnis.comSaturday (9/17, 2022).

Today's Crypto News

Better than last year

According to Manda, crypto adoption in Indonesia is better than last year, even during the winter. The value aspects of crypto-asset trading transactions in Indonesia tend to decline, especially since the beginning of 2022.

For example, in June 2022, the value of cryptocurrency transactions was only IDR 20 trillion, a decrease of 65.5% compared to the June 2021 period of IDR 58.06 trillion. The decline is attributed to macroeconomic conditions and high inflation in many countries.

Manda explained that it is now clear that investors are moving away from traditional crypto assets like bitcoin due to the increasingly bearish conditions. They are starting to turn to assets created using interesting utility projects in the world of Web3, the metaverse and other elements of blockchain technology that make them more accessible.

“Adoption in Indonesia is driven by traditional crypto assets offered through exchanges and fintech platforms. However, on the other hand, the demand for traditional crypto tools is now less, and currently high growth in Web3 based crypto ventures, with many turning to applications, Like NFT and gaming,” Manda explained.

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Moreover, Manda revealed that the development of the blockchain industry, especially Web3 in Indonesia, is now much better and more widely known by the public. Web3 has turned into a new area that has the potential to develop and generate greater profits.

Aside from the adoption ratings, the Chainalysis report also shows that while cryptocurrency adoption has been slower in a bear market, it was still higher than the period before the bullish run of 2020.

Manda believes that crypto assets, Web3, and other related issues in the blockchain world will see massive and widespread adoption in the next 10 years.

To stimulate adoption, the user experience must be improved. Security also needs continuous improvement, for example, crypto operators must be licensed and certified.

Then, he concluded, “education on the benefits and uses of technology was developed to achieve a high level of trust in the community.”

This is today’s cryptocurrency news review. We hope this information is useful.

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Author: Contributor / Shuhada Banji A

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