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Vietnam Emerges as a Growing Crypto Market with a Diverse Portfolio

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Vietnam Emerges as a Growing Crypto Market with a Diverse Portfolio

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）

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

Analysis based on this information:


Vietnam is slowly emerging as a new player in the cryptocurrency market with a wide range of blockchain projects in different domains. According to the “2022 Vietnam Cryptocurrency Market Report” by Coin98 Insights, there are around 200 blockchain projects currently operating in Vietnam. Gaming and metauniverse projects account for the highest share with 28.8% followed by DeFi at 26.0%, NFT at 12.4%, infrastructure at 11.3%, and Web3 at 5.1%. This suggests the diversification and widening scope of the Vietnamese cryptocurrency market.

Furthermore, the report stated that Vietnam has over 16.6 million cryptocurrency holders, showing the immense potential these digital assets have in the country. The number of cryptocurrency holders in Vietnam is second only to Thailand in ASEAN, with 31% holding BTC. This indicates the significant popularity of bitcoin among the Vietnamese population. Besides, Vietnamese entrepreneurs have founded seven of the world’s top 200 blockchain companies, reflecting the country’s growing interest and capability in this innovative industry.

The prevalence of gaming and metauniverse projects in Vietnam’s cryptocurrency market is a unique factor. Gaming is a well-established industry in the country, with Vietnam ranking 25th in the global gaming market by revenue. The growth of crypto gaming projects could be a game-changer as it attracts not only crypto investors but also gaming enthusiasts. Moreover, metauniverse projects enable digital identities and virtual environments that connect people worldwide. Hence, they have the potential to reshape the way we interact with technology and the internet.

DeFi and NFT projects are gaining traction in the Vietnamese market, indicating the rise of decentralized financial services and digital art. NFTs or Non-Fungible Tokens are unique digital assets that have created a buzz in the world of art and collectibles. The popularity of NFTs is evident from the increasing number of buyers and sellers in the market. DeFi or Decentralized Finance, on the other hand, refers to financial services that operate on a blockchain network without intermediaries’ involvement. These services offer transparency, security, and accessibility, making them an attractive alternative to traditional finance.

In conclusion, the Vietnamese cryptocurrency market is expanding, and it is diversifying into various domains, including gaming, metauniverse, DeFi, and NFTs. The growth of the crypto market in Vietnam is evident from the increasing number of blockchain projects, entrepreneurs, and holders. Vietnam has ample potential to become a significant player in the global cryptocurrency market, given its emerging status and diverse portfolios.

Words: Vietnam, Cryptocurrency, Blockchain, DeFi, NFT, Gaming, Metauniverse, Bitcoin, Entrepreneurship.

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