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In 2024, crypto startups in Asia and Africa are set to reach unprecedented levels, even surpassing those in the US and Canada. This trend is primarily due to regulatory uncertainty in the US and the growing adoption of cryptocurrencies in emerging markets.
The Rise of Crypto Startups in Asia and Africa: The Numbers Don’t Lie!
Data compiled by Alliance Accelerator reveals that the share of cryptocurrency startups in Asia and Africa has increased significantly this year.
- Asia currently accounts for 26.8% of new startups.
- Africa reached 5.2%.
This growth is driven by the increasing adoption of digital assets in these continents and the benefits of fast-growing emerging markets.
“Adoption of digital asset applications is increasing in emerging markets.”
Alliance DAO’s Qiao Wang and “Chloexyg”
Europe leads the way for new crypto startups
According to the Alliance report, Europe has surpassed the United States and Canada to take the top spot for new cryptocurrency startups. 31.4% in the first half of 2024This European advantage can be explained by more favorable policies towards innovation and blockchain.
In contrast, uncertainty related to US regulation (particularly the SEC’s approach) has led many founders to seek opportunities elsewhere.
What about US cryptocurrency startups?
In the United States, cryptocurrency startups are facing increasing difficulties due to strict regulations imposed by the SEC. This approach has led to companies such as Phoenix Wallet and Wasabi Wallet withdrawing from the US market.
And that’s not all! The number of founders at major technology companies has also fallen by more than 15 percentage points since 2021. This trend is Loss of confidence in the U.S. innovation environment.
The data reveals an important fact: the crypto startup landscape is changing rapidly, and for crypto investors, understanding these trends is essential to seize opportunities in this emerging market.
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I am 31 years old with Ariella as my wife. I have been playing in the web editing domain for over 7 years. I don’t know about trading and cryptocurrencies for years. No, it’s a world that I am very interested in. Also, the topics that are dealt with on the platform provide a continuous learning benefit. After a few hours of singing life, I have a great passion for music and lectures (and animals!).
Disclaimer
The views, thoughts and opinions expressed in this article are those of the author and should not be taken as investment advice. Please conduct your own research before making any investment decisions.
