Bitcoin’s US$100K Rally: Southeast Asia’s growing crypto revolution

Bitcoin’s US$100K Rally: Southeast Asia’s growing crypto revolution

It’s a milestone that’s been on global cryptocurrency enthusiasts’ minds for many years. Bitcoin’s recent rally to a value of US$100,000 has helped uncover Southeast Asia’s sky-high enthusiasm for crypto adoption and development.

The scale of Bitcoin’s ongoing rally is the topic of much debate, but its resonance in Asian economies appears assured regardless of the direction that the coin takes in the months ahead.

According to the 2024 Global Crypto Adoption Index, Central & Southern Asia and Oceania (CSAO) lead the world in crypto adoption with seven of the top 20 most active nations for both centralised and decentralised finance (DeFi) protocols.

At the forefront of this growth was Indonesia, which surpassed US$30 billion (IDR 475.13 trillion) in cryptocurrency transactions between January and October 2024, representing a growth of 352.89 per cent in comparison to the same period in 2023.

However, we’re also seeing widespread change at an institutional level, which could see significant growth in the number of cryptocurrency use cases in 2025 and beyond throughout the region. With interest in crypto reaching new levels in Southeast Asia, Bitcoin is becoming more accessible than ever before.

Proliferation of crypto services

Bitcoin’s recent growth has brought a series of watershed moments for Asian adoption of crypto. In November, ZA Bank, Hong Kong’s first and largest digital bank, became the continent’s first institution to offer cryptocurrency trading services directly to retail investors.

With ZA Bank’s app, it’s possible for users to frictionlessly trade cryptoucrrencies like Bitcoin and Ethereum without the need for switching platforms in the process.

In November 2024, Japanese firm AEON announced the launch of a QR code payment system on Binance’s BNB Chain with Terminus, helping to scale crypto payment accessibility in Southeast Asia.

The tools are intended to make cryptocurrency payments a seamless experience for users and merchants, and the initiative could help leverage more offline cryptocurrency payments throughout the region.

Cryptocurrency payments have been identified as a leading payment trend due to their flexibility and security qualities, and opening the door to making purchases with coins like Bitcoin represents a major step toward acceptance.

Embracing AI and cryptocurrency: Is Hong Kong too ambitious?

Focused on leveraging Bitcoin as a primary reserve asset to optimise financial strategies and drive stakeholder value, Sora Ventures has launched a US$150 million fund to grow Bitcoin-focused investment strategies among listed companies throughout Asia.

Targeting companies listed on major stock exchanges throughout Japan, Hong Kong, Thailand, Taiwan, and South Korea, the move is a conscious effort to replicate the success of MicroStrategy’s Bitcoin reserve model in the United States.

In the month following the US Presidential election which saw both Wall Street and cryptocurrency markets embark on a rally off the back of Donald Trump’s victory, Bitcoin’s 30% growth eclipsed the 14 per cent experienced by the Roundhill Magnificent Seven ETF (MAGS), an exchange-traded fund that focuses on Wall Street’s seven largest companies by market capitalisation.

The expansion of investment options for Southeast Asia’s largest firms can open the door to better-managed growth, and the ability to embrace the historical outperformance of cryptocurrencies like Bitcoin fully.

The world’s developer capital

It’s also important to highlight Southeast Asia’s invaluable role among crypto developers, with the continent surpassing North America in recent years to attain a strong market share.

Since 2015, Asia’s share of global cryptocurrency developers has rallied from just 13 per cent to 32 per cent, while North America’s market share fell from 44 per cent to 25 per cent over the same period.

While India has been a driving force in Asia’s newfound crypto dominance, nations like China, Japan, Hong Kong, and Singapore have all helped to build a conducive infrastructure for crypto developers.

According to Singapore-based fund manager, Anndy Lian, the emerging markets of India and Southeast Asia where traditional banking infrastructure can be less accessible, cryptocurrencies like Bitcoin have helped to democratise financial services to residents.

It’s this necessity for innovation that appears to be positioning Southeast Asia at the forefront of crypto innovation, and the benefits are being reaped by retail investors and institutions alike.

According to a recent National Thailand report, nations like Thailand, Indonesia, and the Philippines possess high smartphone penetration rates, making cryptocurrency far more accessible during its ongoing market rally. As a result, we could see far more sustained adoption rates for crypto and DeFi services developed locally.

Challenges remain

Despite clear indications that Southeast Asia is embracing the ongoing cryptocurrency rally more enthusiastically than ever before, a number of challenges remain.

Cryptocurrency is famously volatile and open to exploitation among unwitting users. With Bitcoin’s historical bull runs giving way to substantial losses, both retail and institutional adopters will need to be wary of buying into crypto.

 

Source: https://e27.co/southeast-asia-leads-world-in-crypto-adoption-as-bitcoins-us100000-rally-presents-new-opportunities-and-challenges-20250103/

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Asia-Pacific Leads World in Crypto Adoption Amid Bitcoin’s $100,000 Rally

Asia-Pacific Leads World in Crypto Adoption Amid Bitcoin’s $100,000 Rally

It’s a milestone that’s been on global cryptocurrency enthusiasts’ minds for many years: Bitcoin’s recent rally to a value of $100,000. At the same time, Bitcoin’s surge helped uncover Asia’s sky-high enthusiasm for crypto adoption and development.

The scale of Bitcoin’s ongoing rally is the topic of much debate, but its resonance in Asian economies appears assured regardless of the direction that the cryptocurrency takes in the months ahead.

According to the 2024 Global Crypto Adoption Index, Central & Southern Asia and Oceania (CSAO) lead the world in crypto adoption, accounting for seven of the top 20 most active nations for both centralized and decentralized finance (DeFi) protocols.

At the forefront of this growth was Indonesia, which surpassed $30 billion (475.13 trillion rupiah) in cryptocurrency transactions between January and October 2024, representing a growth of over 350 percent in comparison to the same period in 2023.

However, we’re also seeing widespread change at an institutional level, which could see significant growth in the number of cryptocurrency use cases in 2025 and beyond throughout the region. With interest in crypto reaching new levels in the Asia-Pacific, Bitcoin is becoming more accessible than ever before.

Bitcoin’s recent growth has brought a series of watershed moments for Asian adoption of crypto. In November, ZA Bank, Hong Kong’s first and largest digital bank, became the continent’s first institution to offer cryptocurrency trading services directly to retail investors. With ZA Bank’s app, it’s possible for users to trade cryptocurrencies like Bitcoin and Ethereum without the need for switching platforms in the process.

In November 2024, Japanese firm AEON announced the launch of a QR code payment system on Binance’s BNB Chain with Terminus, helping to scale crypto payment accessibility in East Asia.

The tools are intended to make cryptocurrency payments a seamless experience for users and merchants, and the initiative could help leverage more offline cryptocurrency payments throughout the region.

Cryptocurrency payments have been identified as a leading payment trend due to their flexibility and security qualities, and opening the door to making purchases with coins like Bitcoin represents a major step toward acceptance.

We’re also seeing Asian firms making strides in expanding investment opportunities at an institutional level.

Focused on leveraging Bitcoin as a primary reserve asset to optimize financial strategies and drive stakeholder value, Sora Ventures has launched a $150 million fund to grow Bitcoin-focused investment strategies among listed companies throughout Asia. Targeting companies listed on major stock exchanges throughout Japan, Hong Kong, Thailand, Taiwan, and South Korea, the move is a conscious effort to replicate the success of MicroStrategy’s Bitcoin reserve model in the United States.

In the month following the U.S. presidential election, which saw both Wall Street and cryptocurrency markets embark on a rally off the back of Donald Trump’s victory, Bitcoin grew by 30 percent. That’s over twice the 14 percent growth rate experienced by the Roundhill Magnificent Seven ETF (MAGS), an exchange-traded fund that focuses on Wall Street’s seven largest companies by market capitalization.

The expansion of investment options for Asia’s largest firms can open the door to better-managed growth, and the ability to embrace the historical outperformance of cryptocurrencies like Bitcoin fully.

It’s also important to highlight Asia’s invaluable role among crypto developers, with the continent surpassing North America in recent years to attain a strong market share. Since 2015, Asia’s share of global cryptocurrency developers has surged from just 13 percent to 32 percent, while North America’s market share fell from 44 percent to 25 percent over the same period.

While India has been a driving force in Asia’s newfound crypto dominance, nations like China, Japan, Hong Kong, and Singapore have all helped to build a conducive infrastructure for crypto developers.

According to Singapore-based fund manager Anndy Lian, in the emerging markets of India and Southeast Asia, where traditional banking infrastructure can be less accessible, cryptocurrencies like Bitcoin have helped to democratize financial services to residents. It’s this necessity for innovation that appears to be positioning the Asia-Pacific at the forefront of crypto innovation, and the benefits are being reaped by retail investors and institutions alike.

According to a recent National Thailand report, nations like Thailand, Indonesia, and the Philippines possess high smartphone penetration rates, making cryptocurrency far more accessible during its ongoing market rally. As a result, we could see far more sustained adoption rates for crypto and DeFi services developed locally.

Despite clear indications that Asia is embracing the ongoing cryptocurrency rally more enthusiastically than ever before, a number of challenges remain.

Cryptocurrency is famously volatile and open to exploitation among unwitting users. With Bitcoin’s historical bull runs giving way to substantial losses, both retail and institutional adopters will need to be wary of buying into crypto.

Asia is also contending with cryptocurrency crime, which could become more widespread as adoption grows. Forbes recently reported that addresses in China received more than $37.8 million in cryptocurrency between January 2018 and April 2023, with links being made to illegal fentanyl sales being made using crypto payments on a major scale. This may call for regulatory oversight capable of rapidly adapting to an industry that’s famous for its unpredictability.

For all its problems, Bitcoin’s recent surge beyond $100,000 serves as a reminder of the vast potential of the cryptocurrency industry. By responsibly embracing the potential of crypto, the Asia-Pacific can become more prosperous, economically flexible, and accessible to all residents.

Despite its famous volatility and concerns over misuse, the long-term potential of cryptocurrency is bright, and Asia is well-positioned to become a world leader in crypto innovation.

 

 

Source: https://thediplomat.com/2024/12/asia-pacific-leads-world-in-crypto-adoption-amid-bitcoins-100000-rally/

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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GALA Up 200% in Past Month: What’s Fueling the Rally?

GALA Up 200% in Past Month: What’s Fueling the Rally?

GALA, the native cryptocurrency of the Gala Games ecosystem, has been on a roller coaster ride as of late.

The token has gained more than 12% over the past day amid the broader rally among gaming coins. It has also seen its value soar by more than 60% over the past week and 200% over the past month, according to data from CoinMarketCap.

In a note to Techopedia, Anndy Lian, Intergovernmental Blockchain Expert, said:

“The recent surge in GALA’s price can be attributed to a combination of factors, including partnership announcements and growing investor interest in the GameFi sector.”

With a market cap of $2.2 billion as of March 11, 2024, GALA is currently the 56th largest cryptocurrency by market value. It has a circulating supply of 29,309,794,963 coins and a 24-hour trading volume of $1.7 billion.

Where’s next for GALA? Is the latest rally sustainable? Learn in our GALA price analysis.

Key Takeaways

  • GALA has seen a significant surge, gaining over 200% in the past month.
  • The rally is attributed to several factors, including the resurgence in the crypto market.
  • Recent developments, including the economic system of a new game called Last Expedition, have sparked further interest in GALA.
  • Other gaming tokens have also surged alongside GALA, including PIXEL and RON.

Gala Gains Renewed Interest Amid Market Resurgence

Founded in 2019 by Eric Schiermeyer (a co-founder of Zynga) and other industry veterans, Gala Games leverages blockchain technology to facilitate the creation, distribution, and trade of non-fungible tokens (NFTs), enabling players to own unique in-game assets such as characters, equipment, and land.

The platform offers a variety of games spanning different genres, with notable titles including “Town Star” and “Mirandus.” These games are designed to be play-to-earn, allowing players to potentially earn rewards through skilled gameplay or contributions to the ecosystem.

After explosive growth during the 2021 bull run, the platform faced significant challenges, largely attributed to a mix of technical vulnerabilities and the waning interest in GameFi.

A notable incident was an issue with a bridge malfunction, which allowed an attacker to mint over $2 billion worth of GALA tokens.

The incident involved a vulnerability within the multi-chain routing protocol provided by pNetwork, which supports Gala Games, among other DeFi organizations.

Additionally, as the initial excitement around blockchain gaming and NFTs began to stabilize, platforms like Gala Games faced challenges in maintaining the explosive growth experienced in their early days.

Nevertheless, the GameFi project has once again picked up momentum amid the recent market resurgence. With Bitcoin hitting a new all-time high, GALA has also been on a roll, gaining more than 200% over the past month alone.

Why Is GALA Surging?

GALA’s recent surge can be largely attributed to the announcement detailing the economic system of a new blockchain-based game called Last Expedition.

The game features a rich narrative on the alien planet Aura, where players, as hunters, gather valuable resources and tech while facing deadly creatures. It uses in-game currencies as a reward system, which could be swapped for other currencies, including GALA. The announcement read:

“Thanks to the power of GalaChain, a variety of in-game currencies with different purposes will be used to provide an immersive player experience with nearly infinite combinations and strategic choices.”

In-game currencies and Notarium, a key resource, can be earned and used for various upgrades and crafting, adding depth to the gameplay. This intricate economic model, combined with strategic gameplay elements, likely contributes to increased interest and investment in GALA.

 

Gala has been vigorously pursuing other development initiatives as well. The platform has launched its GalaSwap decentralized exchange (DEX) on the GalaChain network and sponsored a $1 million hackathon at the Game Developers Conference.

Anndy Lian commented:

“Their partnership with AWS Game Tech and Alienware is one of the highlights. This increased GALA’s brand visibility for the token in the global gaming arena, and its connection with the big brands brought more credibility. The growing price of GALA has also brought many GameFi users back to the market.”

Positive sentiment across the crypto space, driven by institutional interest and increasing adoption, has benefited altcoins, including GALA.

Furthermore, GALA’s tokenomics include mechanisms such as token burning, where a portion of the transaction fees collected in GALA is burned, effectively reducing the overall supply over time.

This deflationary measure can contribute to the token’s price appreciation as the circulating supply decreases.

Gaming Tokens Surge as Bitcoin Hits $70,000

Aside from GALA, other prominent gaming tokens and metaverse coins also experienced a significant surge in value over the weekend. This surge occurred concurrently with Bitcoin briefly surpassing the $70,000 mark.

One of the tokens experiencing significant gains includes PIXEL, the crypto farming game, and its associated network, Ethereum scaler Ronin. PIXEL reached a new all-time high price above $0.94 overnight, with growing interest reflected in over 500,000 daily active users.

Ronin’s RON token also hit a more than two-year high of $4.05 before slightly dipping to $3.70. Yield Guild Games’ YGG token, announced as PIXEL’s guilds infrastructure partner, saw a 64% increase in value this week.

Moreover, NFT card battler Parallel’s PRIME token reached a new all-time high of $19.78, while BEAM, the token of the Beam gaming network, set a record high of $0.044. Immutable’s IMX, the largest gaming token by market cap, spiked to a two-year high of $3.62.

Tokens such as Axie Infinity’s AXS and Iluvium’s ILV also experienced notable gains.

These gaming token surges often outperformed Bitcoin, which briefly exceeded $70,000 on Sunday, following its historic breach of that price point on Friday. Bitcoin’s current value sits just below $69,500, representing an 11% increase over the past week.

So, will the price of GALA continue moving up? Anndy Lian has a positive view. He said:

“When I spoke to my community on the ground, they said that the price action got their attention, and they are promoting the token non-stop on X. In the last few days, I have seen a big increase in trading volume by close to 110%, amounting to around $1.4B in the last 24 hours. The increased volume means that the buying interest is very high. If you look at CMC on the addresses by time held, I see that the number now is 69.28% vs. 52.14% 1 year ago. This also means that more people are more confident about the token now.”

Giving his short-term GALA price outlook, Lian predicted:

“Maybe consider holding it [GALA] for a longer period. If this situation continues, I believe a 5% to 15% price hike in the next week is also possible.”

The Bottom Line

The remarkable surge in GALA’s value, alongside the broader rally in gaming tokens, comes amid a renewed interest in blockchain gaming and NFTs.

GALA has emerged as the biggest winner in the recent gaming and metaverse coin surge, with the price jumping more than 200% over the past week.

 

Source: https://www.techopedia.com/gala-is-up-200-percent-in-past-month

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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