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Asia and Africa Show Notable Growth in Crypto Startups in 2024

Asia and Africa are experiencing notable growth in the number of crypto startups in 2024, according to a report by the crypto accelerator and DAO community, Alliance DAO. These eastern continents have seen an increase in regulations and new launches in the crypto sector, leading to a rise in the establishment of crypto-based startups. Europe has surpassed the US as the leading region in terms of the number of startups, accounting for 31.4% of the total. Meanwhile, Asia has become the third-largest region with 26.8% of startup establishments, and Africa has seen a rise reaching 5.2% this year. The US, which was previously the leading region, has faced regulatory uncertainties, causing a reduction in the number of startups based there. Eastern countries attract entrepreneurs due to the emerging markets in their regions, and Latin America currently hosts 5.8% of global crypto startups. In H1 2024, startups focusing on decentralized finance (DeFi), payments, artificial intelligence in crypto, and infrastructure have seen a rise. Ethereum remains the dominant L1 blockchain, but Solana has shown a surge in activity indicating a comeback. Overall, the crypto market is showing signs of recovery after a recent crash, according to data from CoinMarketCap.