A Breakdown of Crypto Market Dominance By Asia
A survey by the Wall Street Journal has highlighted the latest trend in thecryptocurrency market.
The study indicated that Asian investors occupy a big chunk of the market compared to Americans.
Approximately 40% of investors in venture financing came from Asian countries. Compared to 10 years ago, they represented 5% only.
One would wonder why the sudden increase? The rapid adoption of cryptos and blockchain technology have been cited as a key contributor towards the increasing Asian investors. There is an increase in a number of blockchain startup looking for seed funding.
In the earlier years, budding tech firms relied on giant Silicon Valley firms for funding. However, more options are now available with the growth of crypto technology.
In comparison, experts are now arguing that the Asian crypto industry is more advanced compared to the United States. The narrative is being supported by Arthur Hayes from Bitmex, a top trading platform.
Notably, the two territories opened up to the blockchain almost at the period. However, for Asia, states like Japan have been on the forefront in terms of cryptocurrency adoption.
At the moment, the US startups are looking for different funding avenues.They are moving away from North America to Asia in search of funds. Such a case was witnessed in New York when Messari strived to get investors from the East. CEO Ryan Selkis said during the seed period, they were keen to attract Asian firms.
Eric Ly, one of the Linkedin co-founders, however, notes that the impact of Asia on the blockchain technology cannot be dismissed due to its contribution in the crypto world.
It is therefore expected that there will be an increased partnership between American and Asian businesses. Startup s will be seeking to open up to more investments in the near future.