Middle East: Emerging Powerhouse in the Global Cryptocurrency Arena

Bitget Research, the research arm of the cryptocurrency exchange Bitget, reports that cryptocurrency adoption in the Middle East is surging, with average daily crypto traders in the region reaching 500,000 in 2024, a 166% year-over-year increase. The UAE leads regional adoption, and the report attributes growth to favorable local regulations and the approval of Bitcoin ETFs. Users in the region rely mainly on global centralized exchanges, and the report projects 700,000 daily traders by the end of 2024. Gracy Chen, Managing Director of Bitget, said the company anticipates continued growth in users and market size.