Dogecoin is Accessible Across Most Other Asian Markets!!
Asia is the next big market for crypto currencies, a bit like Africa, but with a more sophisticated consumer, a majority of the emerging economies in the world can be found in Asia. And while China is more closed off than the rest of it, other countries are embracing the digital revolution. Let’s take the example of South Korea and India, who are both emerging with different economic outlooks and average incomes that enable them to invest in cryptocurrency markets.
What the Asian markets are thinking about cryptos in general
Unlike China, there’s no ban on crypto, which bodes well for Doge and its price over the long run. There are many cryptocurrency is across Asia and Bitcoin remains the favorite across the globe. South Korea and Japan are frequently cited as Bitcoin industry leaders, and Dogecoin will emerge as a competitive alternative like it has in most of the world to traditional crypto currencies. Not only is Dogecoin making its entry into Asian markets, but the cryptocurrency also rallied by 80 percent in Asia on April 16th, which shows that some retail investors are beginning to view Dogecoin as a credible investment.
So as cryptocurrency has become mainstream and are increasingly adopted by the financial sector, Dogecoin will likely become a credible competitor in comparison to the United States and Europe. There has been minimal institutional demand from South Korea. If this results in a major infusion of cash to the South Korean crypto market, the overall crypto market surge might pick up the pace later this year.
This will set the backdrop for how Doge performs in Asian markets
And this is good news for Doge, There are just a few crypto currencies that are top in practically every market, such as Bitcoin, Ethereum and most recently, Dogecoin. South Korean investors are more in favor of local projects like engine and lunar coin. Retail trading in China is limited, and it’s frequently done using VPN across numerous exchanges. However, this is one country that’s restricted crypto currencies, and Dogecoin is accessible across most other Asian markets.
It’s unlikely that any one market will ban Doge as it does not pose a financial stability risk just yet. Bitcoin allows investors in all three nations to reduce their exposure to and reliance on the dollar. As a non sovereign, borderless store value, it is cheap for investors to hedge against inflation. China prohibited Bitcoin trade in 2017.
Asia’s crypto industry faces a less friendly regulatory climate than that of the United States, even though crypto exchanges and initial coin offerings have been prohibited in China. If the government works towards more clarity, this will suggest that some Asian governments are taking a much more practical and pragmatic approach to Cryptos, which could be the precursor to Dogecoin.