Over three-quarters of Vietnamese crypto holders rely on recommendations or referrals from friends when making investment decisions, according to a report by Kyros Ventures, Coin68, and Animoca Brands. This is significantly higher than the number reported in the United States. The report also found that self-study, community groups, and media news were the main sources of information for Vietnamese crypto investors. Additionally, 70% of respondents believed that the bear market was ending, and 75% desired more regulatory intervention in the crypto sector. Vietnam is currently the top country in the world for crypto adoption and second in decentralized finance. However, there are limited educational institutions and blockchain infrastructure projects in the country. The survey also revealed that a majority of respondents engaged in DeFi activities, followed by GameFi, nonfungible tokens, centralized finance, and SocialFi.
Key Points:
– Over 75% of Vietnamese crypto holders rely on friends’ referrals for investment decisions.
– Self-study, community groups, and media news are the main sources of information for Vietnamese crypto investors.
– 70% of respondents believe the bear market is ending.
– 75% of respondents desire more regulatory intervention in the crypto sector.
– Vietnam is the top country for crypto adoption and second in decentralized finance.
Hot Take:
The high reliance on friends’ referrals for investment decisions among Vietnamese crypto holders highlights the importance of trust and personal connections in the crypto community. While it shows a strong network effect, it also raises concerns about potential biases and lack of diverse sources of information. The desire for more regulatory intervention indicates a need for clearer guidelines and protections for investors in the crypto sector. Vietnam’s position as a leader in crypto adoption and DeFi demonstrates the country’s potential for growth in the blockchain industry, but there is a need for more educational institutions and infrastructure projects to support this development.
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