Michaela
Asia-Pacific retail Bitcoin trading has emerged as the frontrunner, surpassing the growth seen in the U.S. and Europe, where the market expansion has slowed. Excluding exchange-traded funds and institutional flows, APAC’s retail BTC activity is expanding at a significantly faster rate, emphasizing the region’s growing influence in the global crypto market.
A recent study by crypto exchange Gemini, conducted in collaboration with blockchain analytics firm Glassnode, reveals that Bitcoin trading activity aligns with working hours across different regions. The analysis of transaction timestamps indicates a strong correlation between BTC activity and business hours, shedding light on regional trading patterns.
Since Bitcoin’s market downturn in December 2022, the Asia-Pacific Bitcoin trading logged a 6.4% year-over-year increase. In contrast, the U.S. saw a 5.7% decline in Bitcoin supply over the same period, while Europe experienced a more modest drop of 0.7%.
Several factors contribute to the Asia-Pacific retail Bitcoin trading dominance. The region’s growing digital economy and increasing awareness of cryptocurrencies have led more individual investors to enter the market. Additionally, technological advancements have further supported this trend.
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Regulatory shifts in some APAC nations have created a more favorable environment for BTC adoption, with updated frameworks providing clearer guidelines for investors and businesses.
Although institutional investors have significantly influenced Bitcoin flows in the U.S., particularly following the introduction of spot Bitcoin ETFs, retail traders in the APAC region are emerging as dominant players.
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Furthermore, the report reveals a significant milestone, showing that Solana has surpassed Ethereum in retail investor capital for the first time. A key factor behind this shift is the increased influx of active capital into Solana, outpacing Ethereum and contributing to its strong growth and market outperformance.
The report also notes that meme coins have played a significant role in the 2024 market cycle, drawing the highest capital inflows among altcoins.
Analysis of the combined realized market capitalization of Ethereum’s top two meme coins, Shiba Inu (SHIB) and Pepe (PEPE), reveals substantial growth since January 2024. Their realized cap has surged from $12.7 billion to $18.4 billion, marking a $5.7 billion (+45%) increase over the period.
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MICHAELA
Michaela is a news writer focused on cryptocurrency and blockchain topics. She prioritizes rigorous research and accuracy to uncover interesting angles and ensure engaging reporting. A lifelong book lover, she applies her passion for reading to deeply explore the constantly evolving crypto world.
