• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
  • 200 FREESPINS
Breaking News: HYPE Heats Up: Major Company Adds Hyperliquid to Its Crypto Treasury Strategy
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
  • 200 FREESPINS
Bitcoinist.com
No Result
View All Result
Breaking News: HYPE Heats Up: Major Company Adds Hyperliquid to Its Crypto Treasury Strategy
rising crypto adoption defi

Rising Crypto Adoption Hints at Growing DeFi Opportunities

Martin Young
by Martin Young
5 years ago
·
Posted in News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Breaking crypto usage down geographically has revealed some interesting trends. Countries that should have been high up were nowhere to be found and some unexpected ones were big into crypto, according to these results anyway. They could be new markets for DeFi.


South America Dominates Crypto

Research by a Statista survey has revealed that the top countries for crypto ownership and usage may not be as expected.

SET Protocol CEO Felix Feng took a look at the charts commenting on the breakdown and noting opportunities for DeFi expansion.

“It seems there’s tons of opportunity for DeFi to expand overseas.”

Fascinating to see that Turkey, Brazil, and Colombia top the charts in crypto adoption.

It seems there's tons of opportunity for DeFi to expand overseas.@fidelitas_lex, a Social Trader, is a prime example of a trader who has a great Turkish-based following. pic.twitter.com/GyZLlPDyyG

— Felix {Setoshi} Feng (@felix2feng) January 17, 2020

The results should be taken with a large dose of salt since only a thousand people from ‘select countries’ were surveyed.

The surprise result was Turkey being at the top but that can probably be linked to recent economic and political issues that have plagued the nation. Pressure on the local currency will drive people to safer crypto havens such as bitcoin.

The same is the case for the numerous South American nations that make up the top ten. Hyperinflation and capital controls in the likes of Argentina, Colombia, Chile, and Venezuela (which has not been included in these results) are driving people to use crypto.

Draconian regimes could put a dampener ion crypto adoption however as their central banks clamor for more control over the flow of finances within their borders.

It was recently reported by Bitcoinist that banking support for crypto exchanges may be in jeopardy following on of the country’s major commercial banks refusing to honor any agreement preventing the closures of crypto exchange accounts.

People of other nations such as India and China, where banks are already banned from dealing with crypto, have already sourced other methods to buy and sell digital assets.

One surprise omission was South Korea which would have been up the top somewhere. It was also surprising that Japan was so far down the list considering the nation’s positive attitude towards crypto.

DeFi Taps New High

The accuracy of the survey is questionable but the opportunities for decentralized finance expansion into some of these countries cannot be overlooked.

In 2019 DeFi grew by 180% in terms of total value locked into it. Today that value has hit a new all-time high of $834 million according to defipulse.com. A billion-dollar Defi market is now not far away and as Ethereum prices recover it could be just around the corner.

At the moment it is just a tiny market but the opportunities are boundless, especially in the growing number of nations with restrictive banking practices and harsh capital controls. Does the bank own the money or do the people?

Will DeFi be dominant in South America? Add your comments below.


Images via Bitcoinist Media Library, Twitter: @felix2feng

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Martin Young

Martin Young

Follow

Martin has been writing on technology for 15 years, he has a keen eye for emerging cryptocurrency news, blockchain developments, and market sentiment.

Full Profile

Related Posts

Crypto

Crypto Case Cracks Open Police Conspiracy In LA—Details

9 hours ago
Coinbase

‘Pure Misinformation’: Coinbase Denies Role In Leak Tying Binance To Trump Coin

1 day ago
cena bitcoinu nove historicke maximum ATH 123 tisíc dolárov

Cena Bitcoinu dnes vyskočila nad 123 000 $. Začína „krypto týždeň“

2 days ago
Ceasefire

BREAKING – Iran-Israel Ceasefire Sparks Crypto Bounce–Details

3 weeks ago
trump

Trump: manovra da 3$ miliardi in Bitcoin

1 month ago
dogecoin rialzista

Dogecoin verso i 5$: ecco i 5 fattori rialzisti

1 month ago
Please login to join discussion

Premium Sponsors

Press Releases

  • Start a Dogecoin miner using Bitcoin and earn $4336 in...

    2 hours ago
  • ...

    2 hours ago
  • bepminer

    bepMINER subverts tradition: AI-driven efficient mining...

    4 hours ago
  • MEXC Research Report Unveils 2025 ROI Benchmarks and...

    7 hours ago
  • Earn $3600 a Day – Start a Bitcoin Miner Using...

    15 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
  • 200 FREESPINS
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.