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One of the most crypto-supporting countries, Indonesia has witnessed a drastic increase in crypto adoption this year with its transaction count rising over 350%, compared to past year.&nbsp;
According to a <a href="https://investor.id/market/381648/transaksi-kripto-di-indonesia-tembus-rp-475-triliun" target="_blank" rel="noopener noreferrer nofollow">report</a> from the local news outlet Investor.ID, the past year’s total crypto transaction amounts to $30 billion till October – which has exceeded the total of 2022 and 2023 of $19.4 billion and $6.5 billion respectively.&nbsp;
The Commodity Futures Trading Supervisory Agency (Bappebti), which oversees the cryptocurrency market in the country confirmed that the amount is an increase of over 352.89% compared to last year.&nbsp;
However, this number is still below the target of $54 billion that the country has set for 2024. This amount is equal to the total transactions that happened in 2021 when the cryptocurrency market was in the most bullish phase.&nbsp;
The regulator also specified that Indonesia’s most popular crypto assets are Solana (SOL) and Ethereum (ETH), followed by stablecoin Tether (USDT) and Bitcoin (BTC).&nbsp;
Besides, the report also highlights that the figure of crypto investors has also increased to 21 million and over 716,000 traders are registered on domestic crypto exchanges.&nbsp;
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Read: <a href="https://www.cryptotimes.io/2024/11/28/russia-pushes-crypto-tax-reform-amid-bitcoin-surge/" target="_blank" rel="noopener noreferrer nofollow">Russia Pushes Crypto Tax Reform Amid Bitcoin Surge</a>
</blockquote>

Indonesia’s crypto transactions rises with 350% increase

The Crypto Times

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