- Retail Bitcoin trading in the Asia-Pacific region grew by 6.4% year-over-year in January 2025, while the US declined by 5.7% and the EU dropped 0.7%.
- The report also noted how Solana has outperformed Bitcoin and Ethereum as the fastest-growing crypto ecosystem.
Retail Bitcoin trading in the Asia-Pacific (APAC) region has outpaced the US and Europe, according to an analysis by exchange Gemini and blockchain analytics firm Glassnode.
The report, which examined transaction timestamps to link Bitcoin activity to regional working hours, found that Bitcoin retail trading in APAC in January of 2025 grew by 6.4% year-over-year, excluding exchange and exchange-traded funds (ETFs) flows. In contrast, US retail Bitcoin trading declined by 5.7%, while the European Union saw a slight drop of 0.7%.
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Glassnode also notes that investor education and understanding of Bitcoin have improved, contributing to a more mature investor profile in the region. The findings indicate a shift in Bitcoin’s retail dominance, with APAC gaining momentum while the US lags behind.
Moreover, the report also found that Solana (SOL) has been the fastest-growing crypto ecosystem since 2022’s lows, adding:
Since the cycle low in November 2022, solana outperformed bitcoin and ethereum on 344 out of 727 trading days, highlighting its substantial growth and market demand.
Gemini/Glassnode report
Retail Interest Still Low as Need for Regulation Grows
But as always, Bitcoin remains the most-traded cryptocurrency with the largest share of capital inflows, the report notes.
Saad Ahmed, head of Gemini’s APAC business, noted that while institutional interest remains strong in the US, retail investors appear more cautious, possibly waiting for clearer regulatory guidance. He pointed out that the data excludes ETF trading, a significant demand driver in the US. In contrast, he highlighted the differing situation in Asia-Pacific:
Asia-Pacific’s growth reflects increasing retail participation, likely supported by clearer regulations in key markets like Singapore. This regulatory certainty may be giving investors more confidence to enter the market.
Saad Ahmed, Gemini APAC headPresident Donald Trump has taken steps toward cryptocurrency regulation, including forming a working group to propose new digital asset policies and explore a national cryptocurrency stockpile. On February 5, US lawmaker Bill Hagerty presented stablecoin legislation that could change the stablecoin game.
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