Indonesian Crypto Transactions Throughout July 2024 Reach IDR 42.34 Trillion

This shows an increase of 348,769 customers in just one month, reflecting the high interest of the public in crypto investment. According to the Head of Bappebti, Kasan, this latest data shows the great potential of the crypto market in Indonesia which continues to grow rapidly.

He explained that the regulations implemented by the government have provided legal certainty for market players and investors. Kasan also reminded investors of the importance of remaining vigilant about the risks associated with investing in crypto assets.

“The increase in transaction value and number of customers shows that Indonesian people increasingly understand and utilize crypto assets as a promising investment instrument,” said Kasan in a statement, quoted Friday (30/8/2024).

“Bappebti will continue to support this development by strengthening existing regulations and ensuring consumer protection remains a top priority,” Kasan said.

Local Investors’ Crypto Assets of Choice

Meanwhile, Deputy Chairman of the Indonesian Blockchain & Crypto Asset Traders Association (Aspakrindo-ABI), Yudhono Rawis, added that this growth also reflects investor confidence showing the great potential of the crypto asset industry in Indonesia.

“The rapid growth of the crypto asset market in Indonesia is undeniable. With more and more investors interested, crypto assets are increasingly becoming a part of people’s lives,” he said.

Some of the crypto assets that are most in demand by Indonesian investors include PEPE, USDT, Bitcoin (BTC), Ethereum (ETH) and Solana (SOL).

This phenomenon shows that Indonesian investors’ interest is not only focused on established crypto assets such as Bitcoin, but also on new crypto assets that are on the rise such as PEPE.

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