#Web3 is gaining momentum. All over the world, more and more people are becoming ordinary users of crypto. According to a new report from Crypto.com, in 2024 the number of digital asset holders increased by 14% and reached 659 million. Over the same period, the total capitalization of the crypto market almost doubled, from $1.7 trillion to $3.3 trillion.
Interest in crypto in developing countries is growing
Awareness of cryptocurrencies is rapidly growing in developing countries. According to a global Consensys survey, 93% of participants worldwide know what digital assets are. But the highest rates are in Nigeria (77%), South Africa (65%) and India (60%).
And these are not just words. In Nigeria, 73% of respondents have used or are using crypto, in South Africa - 68%, in the Philippines and Vietnam - 54% each, in India - 52%.
Africa and Asia are leading in intentions: they are the most people who plan to invest in crypto during the year. Neither Europe nor the United States yet show such a level of engagement.
The US leads in institutional interest
According to the 2024 Chainalysis Global Cryptocurrency Adoption Index, the US ranked fourth in the ranking. It took into account four key indicators: the amount of funds received by centralized services, the share of retail users in these services, the volume of transactions in DeFi and the activity of retail participants in #defi .
The main discovery was the scale of the inflow of institutional capital from American companies. Spot bitcoin ETFs raised more than $129 billion in just the first year.
Despite impressive numbers from institutional investors, retail crypto in the US is developing much slower than in other countries mentioned above. This is largely due to uncertainty in regulatory issues, unlike Europe, where MiCA provisions came into force on December 30, 2024.
Nevertheless, a positive shift has been outlined in the USA. The Senate recently passed the GENIUS bill, which passed the vote with a score of 68 to 30. Now the document has been sent to the House of Representatives, and it has every chance of becoming the first full-fledged regulation for the issuance and management of stablecoins in US history.
The essence of the GENIUS Act is to create clear and transparent rules for the industry. The bill protects consumers and strengthens national security measures in the field of stablecoins.
"The GENIUS Act will provide regulatory clarity in this important industry, help keep innovation in the country, add robust consumer protection and strengthen the position of the US dollar," said Senator Kirsten Gillibrand.
MiCA secures Europe's status as the center of Web3
With the adoption of MiCA, everything became easier. Now crypto companies have clear rules, and they are starting to enter the European market more actively. What used to cause doubts now gives a competitive advantage.
OKX has already settled in Malta, Crypto.com has followed the same path. Both companies have received MiCA licenses, and can now work safely throughout Europe - without having to obtain permits in each country separately.
Judging by recent data, Europe is the main hub for Web3 startups. There are already more than 3,900 of them here. Yes, some may have closed due to new requirements, but clear launch conditions give the EU an advantage over other regions.
The Web3 market in Latin America is growing rapidly
Latin America is one of the most active regions in adopting crypto. According to Chainalysis, several countries immediately made it into the top 20: Brazil, Venezuela, Mexico and Argentina.
Moreover, demand is growing not only from users. In Argentina, the AFA football association has entered into a partnership with the XBO crypto exchange. This shows how crypto is penetrating mass culture and sports. For a region where interest in digital assets is growing rapidly, but the level of trust in new technologies is still low, such a step is especially significant.
Not only private investors are actively interested in crypto. Large companies and even states are joining the movement. El Salvador was the first in the world to recognize bitcoin as official currency, but at the beginning of this year it retreated, the country was pressured by the IMF.
According to a Chainalysis report, Latin America is second in the world in terms of growth. Interest in crypto here jumped by 42.5% in a year.
Conclusion
Since the emergence of Bitcoin in 2009, Web3 has come a long way. Today, the crypto market is the only one in the world that operates around the clock and seven days a week. But more importantly, Web3 is becoming mainstream. It is developed by both retail users and institutional investors. Developing countries are becoming leaders in everyday use, and the US is setting the pace in the institutional segment.
The next ten years promise to be particularly interesting. There are new scenarios for the use of crypto and the impact of regulatory reforms. This is especially true for regions such as Latin America, Africa and countries in Central, South Asia and Oceania.
