CoinSpotMarket Update
Asia-Pacific: Fastest-Growing Region For Crypto Adoption
3 minutes
10 days ago
3 minutes
10 days ago
Blockchain analytics company Chainalysis released its annual Global Crypto Adoption Index, ranking 151 countries based on grassroots crypto adoption.
India took top place for the third year in a row, with Chainalysis citing its youth-led engagement in crypto as a driving factor. The U.S. came in second, up from fourth place last year. Rankings are weighted by population size and purchasing power.
According to the index, the top 10 countries by overall crypto adoption are India, the U.S., Pakistan, Vietnam, Brazil, Nigeria, Indonesia, Ukraine, the Philippines, and Russia. In terms of regions, significant growth was reported in Asia-Pacific (APAC) and Latin America.
Chainalysis also reported that stablecoin usage has exceeded $6.1 trillion ($4.0 trillion USD) globally, underlining their growing role in cross-border payments, remittances, and liquidity across crypto markets.
The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) released their first joint guidance for spot cryptocurrency trading. The statement clarified that registered exchanges in the U.S. can facilitate trading of certain spot cryptocurrencies.
Commenting on the news, SEC Chair Paul Atkins described it as a “significant step forward in bringing innovation in the crypto asset markets back to America.” The joint statement builds on ongoing initiatives like the SEC’s ‘Project Crypto’ and the CFTC’s ‘Crypto Sprint’, initiatives to modernise and clarify regulations surrounding crypto in an effort to promote the U.S. as a global leader in the space.
Pump.fun, the leading memecoin launchpad on Solana, unveiled a dynamic fee model that adjusts creator rewards based on their token’s market cap. The update is the first in a series dubbed ‘Project Ascend’, designed to make coins more sustainable and aligned with their communities.
Under the updated model, creator fees scale from 0.95% for tokens under $458,000 ($300,000 USD) in market cap down to 0.05% as projects grow beyond $30.5M ($20M USD). Before this update, creators received a flat rate of 0.05% of all trading volume tied to their token.
In the first 24 hours following the rollout, the platform distributed roughly $3.1M ($2.0M USD) in creator fees, compared to just $302,000 ($198,000 USD) the day before under the prior fee structure.
The shift comes as Pump.fun continues to use roughly 100% of its platform-generated revenue to repurchase the PUMP token on the open market. In less than two months since the PUMP token launched, the buyback initiative has already accumulated more than 5.3% of PUMP’s circulating supply.
PUMP has been one of the top-performing cryptocurrencies in the past week, increasing by 46% in the past 14 days.
This price momentum has coincided with Pump.fun reasserting its dominance in the memcoin launchpad sector after being challenged by competitors throughout July and August. This is true across several metrics (e.g. active addresses, tokens deployed, revenue), according to this Dune dashboard by @adam_tehc.
Pump.fun is again generating the most revenue in its sector, winning back momentum from LetsBonk and, to a lesser extent, Heaven (Source: Dune)
