A positive atmosphere is emerging in the cryptocurrency industry in the United States. With the approval of Exchange-Traded Funds (ETFs), the door to institutional entry is opening, and expectations for liquidity and regulatory clarity are rising. The pro-crypto government stance is supporting this trend. The U.S. Securities and Exchange Commission (SEC) filed the largest blockchain-related documents in history last February, which is interpreted as a signal that interest in the technology has expanded to the highest levels of the institutional world.
These advancements in the U.S. market are having a positive effect on the industry. Cryptocurrency companies in the U.S. that have built their foundations over the past decade, despite regulatory uncertainty, have finally reached a point of reward. Although institutional entry was delayed, it is all the more eagerly anticipated and welcomed.
However, focusing solely on U.S. trends leads to a fragmented understanding of the global Web3 market. Today, the most active cryptocurrency adoption is occurring not on Wall Street, but in emerging countries. In these regions, cryptocurrencies are becoming an essential means for real-life use, not a speculative tool, and communities that have weathered each cycle now hold the initiative for next-generation Web3 development.
According to Chainalysis' 2024 Global Cryptocurrency Adoption Index, 15 out of the top 20 countries are located in high-growth regions such as Indonesia, Vietnam, Philippines, and Nigeria. These countries are utilizing cryptocurrencies in reality as a means of remittance, value storage, and trading, not just a speculative frenzy. Particularly in countries with severe inflation or monetary instability, cryptocurrencies are considered a more practical alternative to local fiat currencies.
This practical demand is also reflected in developer activity. According to Electric Capital's 2024 Developer Report, Asia currently accounts for 32% of global cryptocurrency developers (a significant increase from 12% in 2015), while the U.S. proportion has decreased from 38% to 19% during the same period. The fact that 41% of newly incoming developers are from Asia clearly shows that the industry's center of gravity is changing. These developers are not mere hobbyists but are growing into entrepreneurs, designers, and engineers solving real problems.
This meaningful change is simultaneously occurring across various regions beyond Central Asia, including Africa, South America, and Southeast Asia. Practical demand and problem-solving are serving as the driving force of innovation. For example, in South Africa, nine food and beverage distribution companies have partnered with the blockchain-based digital payment platform 'LoveCash'. In just five months, they successfully included over 3,700 small shops in the commercial ecosystem, breaking away from the cash-centered transaction system. Real-time supply chain data has also been secured, significantly improving logistics planning and inventory management efficiency.
The application of blockchain technology that solves practical problems is concretizing the future of next-generation Web3. This is also a reason to focus on the field where this technology is already effectively operating, rather than waiting for approval from Wall Street or political capitals.
While the advancement of the U.S. market is certainly welcome, there are other places where true cryptocurrency innovation is happening. Experts emphasize that if aiming for a genuine global project, one must turn their gaze to where it is actually being used. Many users have already begun to accept Web3 as a solution to life's problems. Following this flow will now be the starting point for the next innovation.
For real-time news...Go to Token Post Telegram
<Copyright ⓒ TokenPost, Unauthorized Reproduction and Redistribution Prohibited>
