Indonesia crypto transactions hit a new record of 475 trillion rupiah ($30 billion) in 2024. This marks a 350% jump from $6.5 billion in 2023. Indonesia’s crypto market shows strong growth in the global space, with crypto transactions surge numbers reaching all-time highs and setting new benchmarks for digital asset adoption in Southeast Asia.
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Indonesia’s Crypto Boom: Unpacking the 350% Surge in Transactions
Breaking Transaction Records
The Commodity Futures Trading Supervisory Agency (Bappebti) reports Indonesia crypto transactions in 2024 are higher than 2022 ($19.4 billion) and 2023 ($6.5 billion) combined. The total stays below the 2021 peak of $54 billion, set during the bull market, indicating significant room for future market expansion.
“It proves that crypto asset trading is one of the trading options that people are interested in,” states Bappebti head Kasan.
Expanding Trader Base
The crypto growth Indonesia shows reaches beyond numbers to users. The country now has 21 million traders, marking significant market penetration. Of these, 716,000 use local registered exchanges, making Indonesia one of the world’s biggest crypto markets and a key player in global digital asset trading.
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Popular Assets and Demographics
Young people drive Indonesia’s crypto market. Traders aged 18-30 make up 60% of all users. Most trade in Solana, Ethereum, Tether (USDT), and Bitcoin, showing diverse investment preferences across major cryptocurrencies.
Global Standing and Regulation
Chainalysis ranks Indonesia as a top crypto adopter globally, next to India and Nigeria. The Financial Service Authority (OJK) plans new rules for January 12, 2025. These will put crypto under the same rules as regular financial products, strengthening market stability and investor protection in the rapidly growing Indonesian digital asset space.
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