2024 marks the robust development of the cryptocurrency market in Vietnam, with many notable events and trends:
Growth and investment profits
According to the Vietnam Crypto Market Report 2024 conducted by Kyros Ventures and BingX, over 50% of Vietnamese investors reported making profits from digital currency investments in the past year. Notably, 93.5% of survey participants expect an altcoin season to emerge next year, and over 39% predict Bitcoin prices will exceed $120,000 in the first half of 2025.
Investment trends and ecosystem
Over 80% of Vietnamese investors participated in the memecoin trend over the past year, contributing to Solana becoming the most favored ecosystem. At the same time, over 80% of investors rely on advice from friends and relatives when making investment decisions, a significant increase from 65% last year.
Positive legal changes
The Vietnamese government has made significant progress in establishing a legal framework for digital assets. The Prime Minister has issued the National Strategy on Blockchain Technology; the Ministry of Finance is developing a legal framework to manage digital assets, expected to be submitted to the government in May 2025; and the National Assembly has commented on the draft Law on Digital Technology Industry, for the first time defining 'digital assets' and 'blockchain technology'.
Awareness and ownership of cryptocurrencies
According to a global survey by Consensys, 72% of Vietnamese respondents have heard of cryptocurrencies, but only 39% truly understand them. Notably, 54% of survey participants in Vietnam have purchased cryptocurrencies, primarily Bitcoin, Ethereum, and BNB Coin.
Cybersecurity challenges
In 2024, Vietnamese businesses face many cybersecurity challenges, particularly targeted attacks (APT) and ransomware. As many as 46.15% of agencies and businesses reported having been attacked at least once in the past year, with 6.77% being frequently attacked.
Overview, in 2024, the crypto market in Vietnam witnesses significant development, with an increase in investment returns, public awareness, and progress in the legal framework. However, challenges related to cybersecurity remain a major concern for domestic businesses and investors.
