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Cryptocurrency Adoption Continues to Accelerate in MENA

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Cryptocurrency Adoption Continues to Accelerate in MENA

The Center East and North Africa, generally known as MENA, proceed to undertake cryptocurrency. Blockchain researcher Chainanalysis reviews that the area skilled a 48% improve within the quantity of cryptocurrency for the 12 months ending June 2022. It isn’t solely the rising areas accelerating cryptocurrency quantity and adoption development. In accordance with the research, North America noticed a 36% development in cryptocurrency adoption. MENA is likely one of the smallest crypto markets, so the rise of 566 billion in cryptocurrency volumes in the course of the 12 months ending June 2022 offers the backdrop for why it accelerated so shortly. In accordance with the Chainanalysis research, three completely different MENA international locations positioned within the high 30 in world cryptocurrency adoption.

What’s Cryptocurrency Adoption?

Cryptocurrency adoption is the method of accepting or embracing digital currencies. Adopting cryptocurrency can be like adopting some other new know-how for some; it isn’t if cryptocurrencies can be used as a world cost mechanism, it is when. In a latest research by Finder.com, roughly 27 million People personal cryptocurrency, with practically 45% of these proudly owning bitcoin. The adoption development may speed up as soon as the entire variety of People reaches 10% of the inhabitants. Two examples of such development can be the adoption of the web within the Nineties and the adoption of good telephones in 2007. The adoption course of takes time however can snowball and turn out to be mainstream as soon as it accelerates.

Adoption Soars within the Center East and North Africa

Rising international locations have began to expertise an acceleration within the adoption of cryptocurrency volumes. Whereas MENA noticed probably the most appreciable development at 48%, Latin America confirmed the second most vital development throughout the identical interval. Latin American development surged at 40%, adopted by North America, Central America, Southeast Asia, and Oceania at 35%. Of the MENA international locations, Egypt skilled monumental development, rising 221.7%, adopted by Saudi Arabia, Lebanon, Morocco, UAE, and Turkey. In some MENA international locations, the rise in cryptocurrency adoption has are available in tandem with volatility of their fiat currencies. For instance, the rise in cryptocurrency adoption occurred in Turkey when its foreign money was experiencing extreme devaluation.

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What are the Advantages of Cryptocurrency Adoption?

There are a number of advantages to early adoption. When new applied sciences turn out to be accessible, those that strive them may also help form to course of the know-how. Early adopters are usually trendsetters, influencers, and innovators. If you undertake a product or know-how early, you see if the processes can improve enterprise move or efficiencies. Your suggestions may also help form the event of the product and assist generate product advances. Cryptocurrencies additionally appear to painting an outline of belief amongst their customers. The transparency side of a decentralized coin makes some individuals really feel that the foreign money is just not getting manipulated.

What are the Makes use of of Cryptocurrency?

Cryptocurrency is a digital asset fashioned in a decentralized construction. The character of the system permits the formulation of the foreign money to be outdoors the purview of presidency management or a central regulator. There are a number of advantages which embrace inexpensive and extra environment friendly cash transfers. The disadvantages embrace a unstable alternate charge relative to fiat currencies.

Many cryptocurrencies run on a blockchain. A blockchain is basically a web based ledger that isn’t up to date. When modifications are made to the blockchain, a brand new block is just not up to date. Blockchain know-how has many makes use of, together with provide chain, crowdfunding, and on-line voting. Blockchain transactions can’t be deleted and are thought-about immutable.

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There are two basic varieties of blockchain verification. There may be proof of labor and proof of stake. A proof of labor mechanism requires that blockchain verification solves a posh drawback, after which the verifier can earn compensation for verifying a transaction. In a proof of stake atmosphere, the verifier must personal a certain quantity of the underlying cryptocurrency to have the ability to affirm a transaction.

Why Would possibly Cryptocurrency Be Widespread in MENA?

Cryptocurrency is probably going favored in rising markets due to remittances. There may be roughly $700 billion transferred yearly by households in small increments. These small denominations are expatriated by households to their households again residence. Excessive charges and payout delays make this enterprise excellent for cryptocurrency disruption. Smaller funds and fast payouts make cryptocurrencies an ideal cost mechanism for people sending a reimbursement residence. In MENA, the cost processing enviornment is ripe for disruption.

Moreover, in international locations the place the foreign money is lower than steady, people usually tend to search an alternate. In Turkey, for instance, there was a rise in cryptocurrency volumes because the fiat foreign money got here underneath strain and was devaluated. Increased foreign money volatility versus extra steady currencies may seemingly generate elevated demand for cryptocurrencies.

The Backside Line

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MENA has seen an acceleration within the quantity of cryptocurrencies traded within the 12 months ending June 2022. A latest research confirmed that MENA had a 48% improve in volumes forward of different rising markets and North America. Egypt noticed probably the most vital improve in volumes of cryptocurrencies. Cryptocurrencies could be widespread in MENA due to the decrease charges associated to cost processing. Digital cash additionally could be much less impacted by political turmoil inside the area. Three MENA international locations have been positioned within the high 10 counties that skilled probably the most vital improve within the quantity of crypto buying and selling. 

The adoption of cryptocurrencies goes past MENA. In the US, 27 million individuals personal cryptocurrencies. As soon as the adoption of cryptocurrencies reaches 10% of the inhabitants, it can seemingly speed up additional. There are a number of execs and cons related to the adoption of cryptocurrency buying and selling. Those that are first to undertake cryptocurrencies could have a extra vital affect on how it’s used. Finally, a much less unstable digital foreign money and decrease cost charges might improve the disruption in MENA and the remainder of the world.

 

Disclaimer: The views and opinions expressed within the above article are impartial skilled judgment of the consultants and The Tribune doesn’t take any duty, in any method in anyway, for the accuracy of their views. Chainanalysis shall solely be responsible for the correctness, reliability of the content material and/or compliance of relevant legal guidelines. The above is sponsored, non-editorial content material and The Tribune doesn’t vouch, endorse or assure any of the above content material, neither is it answerable for them in any method in anyway. Please take all steps vital to establish that any data and content material offered is right, up to date, and verified.

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VT Markets Anticipates Cryptocurrency Growth from Policy Changes and Market Momentum in 2025 Q1 Economic Outlook

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VT Markets Anticipates Cryptocurrency Growth from Policy Changes and Market Momentum in 2025 Q1 Economic Outlook

HONG KONG SAR – Media OutReach Newswire – 13 January 2025 – VT Markets, an award-winning financial services provider, today releases its 2025 Q1 Economic Outlook. The report highlights how the dual tailwind of favourable policies and market dynamics will propel the cryptocurrency sector into a new era of mainstream adoption. The report also underscores the transformative strides achieved by cryptocurrencies in 2024, which sets the stage for further growth in the upcoming year.

2024 As A Landmark Year for Cryptocurrency

With the conclusion of the 2024 U.S. Presidential election, cryptocurrencies have ascended from niche assets to mainstream investment products. Political developments, particularly arising President Trump’s re-election and his pro-cryptocurrency stance, acted as the main catalyst for this phenomenon. Participants observed Bitcoin’s price surging by over 40%, crossing $108,000 by year-end anticipating dovish policy shifts and renewed investor confidence towards the digital asset.

Key regulatory appointments, such as naming crypto advocate Hester Peirce as SEC Chair, signalled to the market a shift towards a more favourable regulatory framework, instilling optimism in institutional and retail investors alike.

The Rise of Spot Bitcoin ETFs

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In early 2024, the U.S. SEC approved multiple spot Bitcoin ETFs; a significant breakthrough for the cryptocurrency industry then. By year-end, assets under management for these ETFs grew from $28.8 billion to $110 billion. Among them, BlackRock’s IBIT ETF stood out, achieving record-breaking $30 billion AUM in under 300 days.

This development not only validated cryptocurrencies as a mainstream investment class but also paved the way for wider institutional participation. The integration of cryptocurrency into traditional finance is seen as a key step toward standardisation – an issue which has plagued the industry since its inception.

Liquidity and Risk Appetite Fuel Growth

Macroeconomic conditions, including the Federal Reserve’s shift towards an easing monetary policy, contributed to increased market liquidity and higher risk asset valuations. Cryptocurrencies, known for their high-risk, high-reward profile, inevitably emerged as a preferred choice for portfolio diversification, further driving their adoption and price momentum.

2025 Will Be A Year of Regulatory Clarity and Technological Innovation

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Looking ahead, the cryptocurrency sector is poised for greater regulatory clarity and broader market acceptance globally:

United States: Expected legislation on stablecoins and other crypto assets will a establish a clear regulatory environment.

European Union: The upcoming implementation of the Markets in Crypto-Assets Regulation (MiCA) will enhance transparency and compliance.

Asia-Pacific: Singapore and Hong Kong are set to strengthen their positions as regional crypto hubs, promoting Web3 development and reopening licensing opportunities for exchanges.

Emerging Markets: Countries like Brazil, the UAE, Australia, and South Africa are advancing efforts to legitimize cryptocurrencies, potentially becoming regional leaders in the sector.

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A New Era for Mainstream Cryptocurrency Adoption

The VT Markets’ Research Desk suggests that the confluence of supportive policies, transparent regulations, and robust market conditions will accelerate the mainstream adoption of cryptocurrencies.

They believe that this transition from speculative assets to recognised investment products will be a pivotal moment in financial innovation.

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The issuer is solely responsible for the content of this announcement.

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Experts celebrate promising new breed of cryptocurrency: 'Not only promises efficiency …'

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Experts celebrate promising new breed of cryptocurrency: 'Not only promises efficiency …'

An up-and-coming player in the world of cryptocurrency is looking to revolutionize the industry through its unique processes that highlight sustainability.

According to Be3, cryptocurrency XRP, developed by Ripple Labs, could have a “transformative impact on both finance and environmental sustainability” thanks to its unique consensus mechanism that does not require mining and uses a negligible amount of energy even as it scales.

It generates a minuscule amount of pollutants per transaction while producing 1,110 pounds of electronic waste and impacting just over 8 cubic miles of natural resources.

This approach separates XRP from its contemporaries, which often rely on the notoriously power-hungry proof-of-work systems and hulking mining centers that can destabilize the grid.

Statistics provided by TRG Datacenters show that XRP is the second-most eco-friendly cryptocurrency behind IOTA, consuming just 0.0079 kilowatt-hours per transaction. Comparatively, bitcoin ranks last at a staggering 707 KWh per transaction.

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Furthermore, the cryptocurrency became the first major global blockchain to achieve carbon net zero by purchasing enough renewable energy to offset its minimal energy requirements, per the XRP Ledger.

Be3 also noted other features that make XRP an attractive option for institutions focused on environmental responsibility, as it takes just three to five seconds to settle at fractions of a cent per transaction.

It’s a welcome addition to a sector that desperately needs more sustainable options. A study by the International Monetary Fund found that crypto mines, in conjunction with artificial intelligence data centers, accounted for 2% of global electricity demand and 1% of carbon dioxide pollution in 2022.

The United Nations found that the bitcoin mining network used 173.42 terawatt-hours of electricity between 2020 and 2021, resulting in a carbon footprint equivalent to burning 84 billion pounds of coal. 

Coal and natural gas also supplied 66% of the energy for mining operations during this period, polluting the planet with planet-warming gases.

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Luckily, the sector has made significant strides in recent times in an effort to become more eco-friendly. 

Alephium, which utilizes a proof-of-work blockchain, has partnered with Gigatons to implement a proof-of-less-work consensus that is significantly more energy efficient. 

Meanwhile, Ethereum has transitioned to a proof-of-stake system that has cut its energy consumption by nearly 100%.

“In a world increasingly attentive to environmental impact, XRP’s innovative technology not only promises efficiency but also a greener future,” Be3 wrote.

Join our free newsletter for good news and useful tips, and don’t miss this cool list of easy ways to help yourself while helping the planet.

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ZIUM Launches to Revolutionize Instagram and Cryptocurrency Solutions

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ZIUM Launches to Revolutionize Instagram and Cryptocurrency Solutions

Zagreb, Croatia–(Newsfile Corp. – January 12, 2025) – ZIUM, a cutting-edge agency founded to tackle some of the most pressing challenges in social media and digital marketing, is now officially open for business. Specializing in Instagram username claims, account unbans, and cryptocurrency marketing, ZIUM has positioned itself as a trusted partner for individuals and businesses seeking innovative solutions in the digital age.

The agency operates at the intersection of technology, social media, and blockchain marketing, empowering clients to unlock their full potential online. With a dedicated team of experts and a results-driven approach, ZIUM is redefining the way people navigate the ever-changing online landscape.


ZIUM

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A New Era of Digital Problem Solving
ZIUM’s services address real-world challenges in today’s digital ecosystem. Instagram, one of the largest and most influential social platforms, has become a critical tool for personal branding, business promotion, and community engagement. However, issues such as unavailable usernames or unfair account suspensions can hinder growth and cause frustration. ZIUM steps in to provide solutions that are fast, efficient, and tailored to each client’s needs.

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Additionally, ZIUM excels in cryptocurrency marketing, offering projects and startups a strategic edge in the fast-paced blockchain industry. By combining deep knowledge of crypto trends with cutting-edge marketing strategies, the agency helps blockchain projects stand out in an increasingly crowded market.

Core Services Offered by ZIUM

  1. Instagram Username Claims
    In the crowded social media space, having the perfect Instagram username can make all the difference. Whether it’s for a brand, influencer, or business, ZIUM specializes in acquiring sought-after usernames to align with clients’ goals and identities. The agency handles the process from start to finish, ensuring a smooth and hassle-free experience.

  2. Instagram Account Unbans
    Account suspensions on Instagram can be devastating, especially for businesses and influencers relying on the platform for engagement and revenue. ZIUM offers expert account recovery services, helping clients navigate Instagram’s policies to regain access to their accounts quickly and effectively.

  3. Cryptocurrency Marketing
    The cryptocurrency space is highly competitive, and visibility is key. ZIUM provides end-to-end marketing strategies tailored to blockchain projects, ensuring they reach the right audience. From brand development to targeted campaigns, ZIUM helps crypto ventures grow and thrive in an ever-evolving market.

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