Markets
Cryptocurrency: Startups in Asia and Africa are Surpassing the US in Market Share!
15h00 ▪ 3 min read ▪ by Ariela R.
In 2024, crypto startups in Asia and Africa have reached unprecedented levels. They have even surpassed the United States and Canada. This trend is largely due to American regulatory uncertainties and the growing adoption of cryptocurrencies in emerging markets.
Rise of Crypto Startups in Asia and Africa: The Numbers Don’t Lie!
Data collected by the Alliance accelerator shows that the share of crypto startups in Asia and Africa has increased significantly this year.
- Asia now accounts for 26.8% of new startups.
- Africa reached 5.2%.
This growth is fueled by the growing adoption of digital assets in these continents, which are benefiting from the boom in emerging markets.
“Digital asset applications are seeing increasing adoption in emerging markets.”
Qiao Wang and “Chloexyg” of DAO Alliance
New Leading Cryptocurrency Startups in Europe
According to relationship from Alliance, Europe surpasses the US and Canada, maintaining the top spot for new crypto startups. Its share represents 31.4% in the first half of 2024This European dominance can be explained by policies that are more favorable to innovation and blockchain.
On the contrary, the uncertainty related to American regulation (particularly the SEC’s approach) has prompted many founders to seek opportunities elsewhere.
What about crypto startups in the US?
In the United States, crypto startups are facing increasing challenges due to stringent regulations imposed by the SECThis approach has pushed companies like Phoenix Wallet and Wasabi Wallet to abandon the American market.
But that’s not all! The number of founders of large tech companies has also decreased by more than 15 percentage points since 2021. This trend reflects a loss of confidence in the innovation climate in the United States.
The data reveals one important fact: the dynamics of crypto startups are changing rapidly. For crypto investors, understanding these trends is crucial to seizing opportunities in emerging markets.
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Ariela R.
My name is Ariela and I am 31 years old. I have been working in the web editorial domain for 7 years now. I have not discovered trading and cryptocurrency in recent years. But it is a universe that interests me a lot. And the topics covered on the platform allow me to take advantage of it. A singer in my hours spent, I also cultivate a great passion for music and reading (and animals!)
DISCLAIMER
The views, thoughts and opinions expressed in this article are solely those of the author and should not be construed as investment advice. Do your own research before making any investment decisions.