According to a report published on August 30 by Vietnamese venture capital firms Kyros Ventures and Coin68, as well as Animoca Brands, over 75% of Vietnamese cryptocurrency holders rely on recommendations from friends when making investment decisions. This percentage is not ably higher than that reported in the United States, where only about 30% rely on such advice.
For Vietnamese cryptocurrency investors, self-study, participation in community groups, and following media news are the primary sources of information, with nearly half of the visitors preferring these methods. The report, titled the Vietnam Cryptocurrency Market Report for the first half of 2023 , also revealed that approximately 70% of participants believe the bear market is either over or nearing its end. However, 75% of respondents expressed a desire for increased regulatory intervention in the cryptocurrency industry.
Vietnam currently boasts the highest cryptocurrency adoption rate globally and ranks second in the decentralized finance (DeFi) space, with over 19% of adults holding digital assets. Despite this, the country has only nine educational institutions offering blockchain courses and a mere eight blockchain infrastructure projects. Notably, nearly 90% of respondents participate in DeFi activities, showcasing the country's active involvement in the crypto sector.
