Markets
Crypto: Startups in Asia and Africa are overtaking the US in terms of market share!
15:00 ▪ 3 min read ▪ by Ariela R.
In 2024, crypto startups in Asia and Africa reached unprecedented levels. They even surpassed the United States and Canada. This trend is largely due to regulatory uncertainty in the United States, as well as the growing adoption of cryptocurrencies in emerging markets.
Rise of Cryptocurrency Startups in Asia and Africa: The Numbers Don’t Lie!
Data compiled by accelerator Alliance shows that the participation of cryptocurrency startups in Asia and Africa has increased significantly this year.
- Asia now accounts for 26.8% of new startups.
- Africa reached 5.2%.
This growth is driven by the increased adoption of digital assets in these continents, benefiting from the growth of emerging markets.
“Digital asset applications are experiencing increasing adoption in emerging markets.”
Qiao Wang and “Chloexyg” from Alliance DAO
Europe leading new cryptocurrency startups
According to report of the Alliance, Europe overtakes the United States and Canada to retain the top spot for new cryptocurrency startups. Its share represents 31.4% in the first half of 2024. This European dominance can be explained by policies that are more favorable to innovation and blockchain.
In contrast, the uncertainty related to American regulations (particularly the SEC’s approach) has led many founders to seek opportunities elsewhere.
What about cryptocurrency startups in the US?
In the United States, cryptocurrency startups are facing increasing challenges due to strict regulations imposed by the secondThis approach has led companies like Phoenix Wallet and Wasabi Wallet to exit the US market.
That’s not all! The number of founders of large tech companies has also fallen by more than 15 percentage points since 2021. This trend reflects a loss of confidence in the innovation climate in the United States.
The data reveals an important fact: the dynamics of crypto startups are changing rapidly. For crypto investors, understanding these trends is crucial to seizing opportunities in emerging markets.
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Ariela R.
My name is Ariela and I’m 31 years old. I’ve been working in the web writing field for 7 years. I didn’t discover trading and cryptocurrency until a few years ago. But it’s a world that interests me a lot. And the topics covered on the platform allow me to learn advantages. A singer for my spare time, I also cultivate a great passion for music and reading (and animals!)
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author and should not be taken as investment advice. Please do your own research before making any investment decisions.