Vietnam Takes Fourth Place in Global Cryptocurrency Trading Rankings

According to internal documents obtained by The Wall Street Journal, Vietnam secured the fourth position globally in cryptocurrency trade volume on Binance in May, with a total of $20.84 billion. China held the top spot with $90.08 billion, accounting for 20% of Binance’s total trade that month, followed by South Korea ($58.32 billion) and Turkey ($44.42 billion). Binance, established in 2017, is the largest cryptocurrency exchange worldwide in terms of daily trading volume.

A previous report by Nikkei Asia revealed that from July 2021 to June 2022, Vietnam recorded a total cryptocurrency trade volume of $112.6 billion, ranking second in Southeast Asia behind Thailand, which reached $135.9 billion.

In addition, Vietnam has topped the Global Cryptocurrency Adoption Index released by Chainalysis, a blockchain market analysis company, for the second consecutive year in 2022.