Cryptocurrency thrives in China against odds, report says
According to a Kyros Ventures report, 33.3% of Chinese investors hold a large number of stablecoins, ranking them second only to Vietnam's 58.6%, indicating a higher level of risk appetite.
Crypto enthusiasts in China are more willing to invest heavily in cryptocurrency than their counterparts in Vietnam, South Korea, Taiwan, and Thailand.
This is according to a December 2023 report by Vietnamese venture capital firm Kyros Ventures, with the assistance of 10 media agencies from China, Thailand, Korea, Taiwan and Vietnam. In the 5,268-participant survey, more than 70% of participants said cryptocurrencies accounted for more than half of their asset portfolio.
However, 33.3% of Chinese investors hold a large amount of stablecoins, placing them in second place to Vietnam, with 58.6% of its investors holding stablecoins. Except for Vietnam and China, most investors in other countries have reduced their holdings in stablecoins, indicating that they are more risk-on with investments in crypto assets.
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