Asia largest crypto userbase share, NFT most searched term

Crypto exchange Huobi has release its 2022-23 market report, “Global Crypto Industry Overview and Trends”. Two major highlights of the report are Asia dominating in terms of crypto user base, and the popularity of NFT on search engines.

Major highlights & stats of crypto industry in 2022

  • The total number of “crypto users” globally are 320 million as in November 2022. Asia holds 40% of the share in the total penetration rate.
  • Investment in primary market funding (ICO, etc) – over $27.7 billion
  • NFT top ranking countries: China, Hong Kong, Singapore, Nigeria and Taiwan
  • Centralized exchange traffic – top ranked sources: US, South Korea, and Russia

Due to various economic factors and the after-shocks of Terra and FTX collapse, the crypto market capitalization lost $2.2 trillion in value.

The US continues to lead in decentralized finance with over 30% market share. De-Fi was born in the US. Automated market makers and liquidity mining are its key areas.

The search term data shows NFT as the most searched among crypto terms. Other search terms were BTC, DeFi and cryptocurrency.

Global adoption of crypto

North America

There are around 47 million crypto users. DeFi traffic is substantial and exceeds that in centralized exchanges. BTC trading occupies top spot (volume at $1.5 billion). Other popular coins are ETH, Dogecoin and ADA.

Over 55% of users are in the age group 18-34. Two organizations well known for their crypto holdings are Tesla and Microstrategy.

Southeast Asia

Over 45 million in crypto population. Top country is Vietnam with 20 million crypto users (1/5th of the population).

The new and attractive crypto hub is Singapore, especially for crypto startups as regulations are friendly. Some payment services can operate without license using exemption clauses.


Russia has over 14 million users with some crypto use or experience. Crypto mining is now supported at places with hydropower or nuclear power sources.

South America and Africa

These countries are fast adopting crypto due to economic factors such as inflation, loss of value of national currencies, and their domestic economic crisis. Argentina, Venezuela, Morocco, and Egypt are among crypto adopters.


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