The Cryptocurrency Economy in Singapore Grows by 55.4%
The cryptocurrency economy in Singapore grew by 55.4% to reach $284 billion, according to Cointelegraph. Activity on institutional platforms rose by 94%, while the Philippines, Thailand, and Vietnam stood out in small-person-to-person transfers.
• Institutional activity growth outpaced the growth rate of the cryptocurrency economy in Singapore.
• The Philippines, Thailand, and Vietnam were characterized by active small-value transfers between individuals.
💧 Impact on the Market and Liquidity: A rise in activity on institutional platforms may indicate the growing role of institutions in Singapore’s market, but the data does not specify net liquidity inflows or their distribution across cryptocurrencies.
🎯 Most Affected: Institutional platforms, person-to-person transfers.
Source: Cointelegraph
#Crypto #CryptoNews
The cryptocurrency economy in Singapore grew by 55.4% to reach $284 billion, according to Cointelegraph. Activity on institutional platforms rose by 94%, while the Philippines, Thailand, and Vietnam stood out in small-person-to-person transfers.
• Institutional activity growth outpaced the growth rate of the cryptocurrency economy in Singapore.
• The Philippines, Thailand, and Vietnam were characterized by active small-value transfers between individuals.
💧 Impact on the Market and Liquidity: A rise in activity on institutional platforms may indicate the growing role of institutions in Singapore’s market, but the data does not specify net liquidity inflows or their distribution across cryptocurrencies.
🎯 Most Affected: Institutional platforms, person-to-person transfers.
Source: Cointelegraph
#Crypto #CryptoNews