Bitget Research Institute: The average daily number of people participating in transactions in the Middle East reaches 500,000, and 72% of users in t

On April 22nd, Bitget Research Institute released a report analyzing the Middle Eastern market from various dimensions such as the overall situation, characteristics of cryptocurrency users, competition landscape, and advantages of each platform. The Middle East is an emerging market for cryptocurrencies, with around 500,000 people participating in daily trading in the region. Among them, the UAE has the highest cryptocurrency adoption rate, and UAE users tend to invest in BTC and ETH, with BTC being referred to as "digital gold" by 72% of users.

From the overall situation of the market, the total volume and acceptance of cryptocurrencies in the Middle East are in a rapid growth stage. From the perspective of regulatory environment, the cryptocurrency policy in the UAE is the most friendly, while the policies in other Middle Eastern countries are gradually improving from early prohibition to compliance.

The popularity of Middle Eastern users participating in various on-chain applications has significantly increased, and "airdrops" and "on-chain mining" may become hot words in social media, with increasing interest in the DePin track. From the perspective of preference for centralized exchanges, the traffic of centralized exchanges in the Middle East has shown a fluctuating upward trend in the past year, and the demand for centralized exchanges among Middle Eastern users is significantly higher than that for decentralized exchanges. In addition, the most commonly used wallets are Trust Wallet, MetaMask, Phantom, Coinbase Wallet, Bitget Wallet, etc.