Many crypto experts are arguing about whether we are already in the next bull market or whether the bear market is still intact. Finally, this can only be answered in retrospect. Nevertheless, there are of course already discussions about what could feed the next bull run. While the right macroeconomic environment is arguably required for a sustained bull market, there is also the issue of geographical focus. More and more market participants now believe it is possible that the next crypto bull run will be driven by the Asian markets.
Progressive crypto adoption in these markets could also serve another trending theme in the market. Namely cryptos, which are particularly popular with Asian investors. While in the past it was meme coins, then gaming cryptos or metaverse tokens that were particularly played by the market, it could soon be “Asian” cryptocurrencies. But where could an entry be worthwhile and is a bull run “made in Asia” really realistic?
Meme coin with 100x potential – learn more here
Crypto Adoption Progresses in Asia
The Chainalysis Crypto Adoption Index shows us a clear result – because Asian countries are considered to be particularly crypto-affine. Despite bans, China also returned to the top 10 in 2022. China is particularly at the forefront in the use of centralized crypto services and transaction volume. Despite the crypto ban, trading has bounced back in 2022 – a development that could now continue. In Asia, the largest share of the received crypto volume comes from China, but countries such as South Korea, Japan and Hong Kong are also relevant for the next bull run. Five of the top ten places in the Adoption Index are occupied by Asian countries – Vietnam, Philippines, India, Thailand and China are occupied.
Will Hong Kong be the new crypto hub? Regulation in US, easing in Hong Kong
From June 1, 2023, crypto trading in Hong Kong is said to be legal, probably with the approval of the top Chinese party. As the fourth-largest financial center in the world and an important trading center for capital from the Middle Kingdom, Hong Kong could support a new bull run. Many rich Chinese trade here who are looking for access to the global financial system via the former British colony. Although hope for truly decentralized crypto applications in China is probably rather unrealistic, the Chinese could gain access via state-controlled infrastructures in the future. This would be bullish news for cryptocurrency prices.
Strict crypto regulation in the USA could also possibly result in advantages for Asia. While certain crypto services are being banned in the USA and the SEC is classifying coins as securities in a rather arbitrary manner, Asia is becoming increasingly open. The well-known crypto expert Cameron Winklevoss was critical of the US authorities – “the next bull run is going to start in the East”.
Cameron Winklevoss predicts next crypto bull run will be driven by Asia
— whalechart
(@WhaleChart) February 20, 2023
Gemini co-founder Cameron Winklevoss warned that the US could lose out in the competition for the digital wealth industry if the SEC does not set clear rules, but regulates haphazardly. Then countries in Asia could develop a lead.
Growth Market Asia: Are Cryptos & Blockchain the Next Catalyst?
In recent years, Asian economies have generated strong growth and have become a major center of innovation. The Asian region is known for the rapid adaptation of new technologies. Much of the future growth could also come from increased use of cryptocurrencies and blockchain technology. By using cryptocurrencies and blockchain platforms, countries in Asia can facilitate cross-border trade, improve transparency and efficiency in the supply chain, and create secure infrastructure. The use of cryptocurrencies and blockchain technology could become a catalyst for further growth in Asia.
4 cryptocurrencies that could benefit particularly strongly from this development.
Bitcoin
At the forefront, Bitcoin should benefit from the next bull run. If Asian investors are looking for a decentralized alternative in the digital currency market, the first thing to look at is Bitcoin with a market dominance of around 42%.
VeChain
VeChain is a blockchain platform that has now been established and is intended in particular to optimize supply chains. This is aimed at easily understandable real economy problems. The subsidiary “Bitse” is one of the best-known blockchain companies in the Middle Kingdom. This could create increased interest. In the past, VeChain has already worked with well-known companies such as LVMH, Amazon and BMW in pilot projects.
Filecoin
Filecoin’s decentralized storage system would like to completely disrupt centralized cloud computing. People’s most important information should be stored here in a transparent and accessible manner in order to finally return data sovereignty to the owners of the relevant information in the age of big data. The Chinese in particular are currently holding FIL tokens.
conflux
Of course, the hype token of the last few weeks should not be missing. Because the price of Conflux (CFX) has exploded by over 400% in the past 30 days. However, with a market cap of around $500 million, there’s still some way to go if you look at the medium-term future potential. As a layer 1 blockchain, they want to develop a blockchain SIM card with one of China’s leading telecom providers – China Telecom.
Crypto alternatives: 100x returns with this new meme coin?
Crypto memes enjoy boundless popularity – both in the West and in Asia. It is possible that this market segment will also benefit, especially if you consider the connection between meme coins and utility tokens, which has recently become more popular.
A new candidate for a far above-average return could be the Love Hate Inu token, which is targeting a high-growth target market with the vote-to-earn concept. Here you want to generate engagement with captivating illustrations and gripping surveys, which in turn is rewarded with rewards. The next price increase will follow in less than 48 hours – early investing could therefore be particularly worthwhile.
Author: Daniel Robrecht
After studying law and management, Daniel decided to work as a freelance author and has been writing qualitative publications on various specialist topics for around 10 years now. As an investor, he gained years of experience with stocks & cryptocurrencies. In addition to a long-term investment approach, Daniel is also passionate about short-term markets. Through targeted further training at international universities, he has acquired extensive knowledge about the capital markets, stocks, cryptocurrencies and decentralized finance. Daniel’s primary focus is on general market trends, exciting stocks, business news and the digital currency market. In his private life, too, there is never a day without the financial markets. As an author, Daniel writes for leading German-language publications in this field. Daniel publishes for Finanzen.net, among others, Business2Communityand FXStreet.de. Daniel on LinkedIn.
“Investing is speculative. When investing, your capital is at risk. This website is not intended for use in any jurisdiction where the trading or investment described is prohibited and should be used only by persons and in ways permitted by law. Your investment may not be eligible for investor protection in your country or country of residence. So do your own due diligence. This site is available to you free of charge, however we may receive commissions from the businesses we feature on this site.”
