Crypto Startups Rise in Asia and Africa
12 Jul, 2024 ● Coin news
The proportion of cryptocurrency startups emerging in Africa and Asia reached record highs in the first half of 2024, taking market share from the United States and Canada amidst recent regulatory uncertainties.
A July 10 article by blockchain startup accelerator Alliance noted that Europe surpassed the US and Canada as the leading region for new cryptocurrency startups in H1, accounting for 31.4% of the total, while Asia ranked third with a 26.8% share.
Alliance DAO’s Qiao Wang and “Chloexyg” attributed this trend to regulatory uncertainties in the US and increased adoption of digital assets in emerging markets.
Africa’s share rose to 5.2%, just below Latin America, while Oceania, including Australia and New Zealand, saw only 1.8% of the total crypto startups in the first half of the year.
Alliance compiled this data from the 3,000 annual applications it receives for its startup accelerator program.
Additionally, Alliance’s data shows that the number of startup founders from Big Tech firms has declined by more than 15 percentage points since 2021, and there has been a similar decrease in founders from top 100-ranked universities.
Approximately 39% of startups were launched by solo founders, while 51% had teams of 2-5 members.
Sources:
https://cointelegraph.com/news/share-crypto-startups-asia-africa-increase-usa-falls
