Vietnam is the world leader in crypto adoption for two consecutive years 2021 and 2022. Vietnam is also the country with the second largest percentage of cryptocurrency holders in ASEAN after Thailand, and is One of the top 5 countries in Blockchain...
According to the Vietnam Crypto Market Report 2022, Vietnam has more than 200 active Blockchain projects, spanning many different fields and developing mainly in the areas of GameFi, DeFi and NFT, web3, infrastructure, wallets. …
7/200 TOP CRYPTO ENTERPRISE IN THE WORLD FOUNDED BY VIETNAMESE PEOPLE
According to Data.ai, on average, Vietnamese spend 3.9 hours a day playing games, 10% higher than the US. Vietnam also has 5 names in the list of top 10 largest game publishers in Southeast Asia, Australia and New Zealand (ANZSEA), including Amanotes, OneSoft, GameJam, VNG and Arrasol. The number of Blockchain game projects accounts for the majority, about 28.8% of the Vietnamese Crypto market.
Coin98 Insights' Crypto Vietnam 2022 market report just released shows that, in the Vietnamese market, DeFi projects are still developing at an early stage, not focusing much on finding revenue and profit. However, this is also an attractive revenue segment when accounting for 38% of total market revenue in the first 8 months of 2022. DeFi segment accounts for 26% of Vietnam's crypto market with outstanding DeFi projects including Coin98 Finance, Kyber Network, Rikkei Finance…
Besides, NFT is one of the most revenue generating segments in the Crypto market, especially NFT Marketplace development projects. In the first 8 months of 2022, NFT Marketplace group revenue accounted for 49% of the entire market. This fertile land accounts for 12.4% of Vietnam Crypto market with outstanding projects including Axie Infinity, Spores, DareNFT, Titan Hunter…
Infrastructure projects, providing Blockchain services also account for the majority of Vietnam's market share with 11.3%. Some prominent projects include TomoChain, which is planned by the Ministry of Education and Training to store national diplomas on Blockchain developed by this project, or the SotaTek project that once had a 3,000% growth period with 750 employees. the.
As for Web3 projects, accounting for 5.1% of Vietnam's total market share. In the field of real estate, there are projects that code real estate and allow investors to spend extremely low capital to be able to own a part of real estate such as MoonKa, Realbox ... or support projects. professional users such as DeHR (also known as a decentralized LinkedIn).
In the Wallet array (e-wallet), there are many projects with outstanding development such as Coin98 Wallet. This is an e-wallet that supports more than 70 Blockchains including Bitcoin, Ethereum, Binance Smart Chain, Polygon… Currently, the project has more than 5 million users.
Among the top 200 Crypto enterprises in the world, there are 7 enterprises founded by Vietnamese people. Besides, Vietnam has more than 10 enterprises with capitalization over 100 million USD with global influence. Notably, there are 3 Vietnamese projects that have reached a capitalization of over 1 billion USD, namely Coin98, Axie Infinity and Kyber Network.
As of December 2022, the token capitalization of these businesses is somewhat declining in the middle of the crypto winter. Even so, Axie Infinity still holds a market capitalization of nearly $1 billion; Kyber Network holds a capitalization of over $87 million; Onus over 45 million USD; Coin98 more than 36 million USD…
Regarding the fundraising activities of Crypto Vietnam businesses, in 2022, Crypto Vietnam projects have successfully called for more than 170.37 million USD, most of the projects are in the seed round. . However, the revenue of some Crypto projects Vietnam generates is very high compared to the amount of capital raised.
VIETNAM HAS MORE THAN 16.6 MILLION PEOPLE OWN CURRENCY
Vietnam now has more than 16.6 million crypto holders. Of these, about 31% own Bitcoin. In a survey of 389,345 people across 26 countries, Vietnam ranked 3rd in crypto adoption, behind India and Nigeria. About 23% of the Vietnamese population reported owning Crypto assets.
The report highlights, Vietnam is the world's leading country in terms of cryptocurrency acceptance for two consecutive years 2021 and 2022. In addition, Vietnam is also the country with the third largest percentage of cryptocurrency holders. two ASEAN countries after Thailand, and is one of the top 5 countries in Blockchain.
According to MarketsandMarkets forecast, the Blockchain-related market in Vietnam is expected to reach a value of nearly $2.5 billion by 2026, increasing 5 times in size compared to 2021.
The traffic data of websites has reflected the coverage of Crypto in Vietnam as well as the level of interest of Vietnamese Crypto users to each project is quite high.
According to Semrush, the Crypto-related websites with the highest traffic in 2022 in Vietnam are Binance, CoinMarketCap and CoinGecko respectively. Although not much has changed in the Vietnamese market, globally, all 3 projects have lost a fair amount of traffic in the past year. This represents the cooling of the market in 2022.
Through website traffic in 2022, the international project that has received the most attention from the Vietnamese investor community is the group of new platform Blockchain projects. Among them, the most prominent are Aptos and Sui Network. Traffic from Vietnam ranks first with these two projects, accounting for 12.47% (top 1 of Aptos) and 10.78% (top 2 of Sui Network) respectively.
Binance, CoinMarketCap and CoinGecko are popular projects/tools, used by most investors. From the traffic data and the percentage of unique users accessing the website of the above 3 projects, it is estimated that the number of Crypto users in Vietnam in 2022 is more than 13 million people.
In addition, according to a survey by Morning Consult and Bloomberg Opinion, in Vietnam, there are more than 26 million Crypto users making at least one transaction on Blockchain in a month.
“Bitcoin” and “Crypto” are also phrases that attract high search interest of users on Google. The searches for the above keywords in the Vietnamese community mainly come from big cities and provinces; in which Da Nang has the highest level of interest, followed by Hanoi and Ho Chi Minh City.
According to the survey results, most Vietnamese investors are male with the age of 18-25. These investors are largely inexperienced and have higher loss rates.
The most used Blockchain platforms in Vietnam are BNB Smart Chain, Ethereum, Polygon and Solana. The most used stablecoin is USDT for reserve purposes. Layer 1 and DeFi are two areas that cover the Vietnamese Crypto investment market.