🚀 The East Asian cryptocurrency market is booming thanks to Hong Kong's crypto initiatives and industry-friendly regulations. This helped the region rise to fifth place, accounting for 8.8% of global digital asset activity. 🌏

• According to Chainalysis' latest analysis, Hong Kong's cryptocurrency market offers a variety of applications not only for local users but also for foreigners.

• Hong Kong sees more transaction volume for large corporate transactions of $10 million and above.

• South Korea has the least institutionally focused cryptocurrency market in the region, while Japan has a more balanced structure in terms of transaction activity between centralized exchanges and DeFi protocols.

Note: While these developments strengthen Hong Kong's progress towards becoming a global leader in regulated digital assets, it is still early days for China's outlook.