Ronin Integrates Ethereum, Polygon, and BNB Chain on Gaming Wallet

Vietnam’s Crypto Craze: Report Shows Over 16.6M Holders and Surprising BTC Dominance

According to the report titled “Vietnam Crypto Market Study 2022,” there are roughly 200 active blockchain projects within Vietnam.

Moreover, the ASEAN region’s second-largest number of cryptocurrency holders, with over 16.6M, is in Vietnam. Bitcoin is owned by 31 percent of these holders, placing the country behind Thailand in terms of volume. GameFi, DeFi, NFT, Web3, Infrastructure, and Crypto Wallet are the primary focus areas for ongoing blockchain initiatives in Vietnam.

Gaming dominates Vietnam’s blockchain

The study results indicate that gaming and metaverse initiatives account for 28.8 percent of the total number of blockchain projects established in Vietnam. In addition, 26.0 percent of the efforts are associated with decentralized financial systems. Among the initiatives related to decentralized economic systems are Kyber Network and Rikkei Finance, amongst others.

It was reported that 12.4 percent of the total projects were associated with NFT, with examples including Axie Infinity, DareNFT, Spores, and Titan Hunters. Furthermore, there were 11.3 percent of initiatives focused on infrastructure, with projects such as TomoChain and SotaTek being some examples. Finally, among other things, Web3 projects made up 5.1 percent of the total.

Seven of the leading blockchain startups in the world were started by entrepreneurs from Vietnam. These companies are ranked among the top 200 worldwide. These enterprises have a considerable effect on the worldwide market, as shown by the combined market value of more than ten companies, which is more than one hundred million US dollars.

Token triumphs, gaming frenzy

Three of these firms formerly had a total token market valuation of over one billion USD. Moreover, according to, the typical Vietnamese spend 3.9 hours per day playing games, 10 percent more than the US.

Additionally, Vietnam has five top ten positions on the top ten lists of prominent gaming publishers in Southeast Asia, Australia, and New Zealand (ANZSEA). GameJam, VNG, OneSoft, Arrasol, and Amanotes are some companies ranked among the top five largest game publishers.

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