Asia Powers 60% of Crypto Liquidity, Boosts Market Sentiment

Bitcoin, Solana, and Ethereum rallied during Asian trading hours, signaling strong bullish momentum.
Asian markets fuel 60% of global crypto liquidity, cementing the region’s dominance.
Singapore processed $1 billion in crypto transactions in Q2 2024, doubling licenses year-over-year.

Crypto analyst Marty Party has stated that Asian markets are “opening hot,” due to rapid adoption and high liquidity. The region plays a key role in the global cryptocurrency market, contributing 60% of liquidity and leading in adoption rates.

Marty Party shared a chart that shows notable market activity for several cryptocurrencies against USDT. Let’s break down the key trends.

Bitcoin is currently trading at $94,129 and shows a strong upward movement toward 99,000, with support near 90,600. This suggests bullish sentiment. Solana is also gaining momentum, climbing from 178 to near 199. However, the token has dropped by 4% to $177.5.

Meanwhile, SUI price is consolidating within a range of $4.5 to $5.4 USDT, following a recent breakout. This price action may be due to increased market participation or news events.

Ethereum, XRP, and ZEUS Show Strong Market Activity

Ethereum is steadily climbing toward 3,450, with strong volume suggesting high trading activity. The support level at 3,100 is holding firm. XRP has rebounded from support at 2.35 and is aiming for resistance near 2.7. There is robust buying activity.

Finally, ZEUS is exhibiting significant volatility, with sharp upward moves. Resistance at 0.82 could be a short-term target.

The chart shows strong bullish sentiment across multiple cryptocurrencies during Asian market hours. The heavy trading volumes, visible support levels, and clear upward movements suggest that the Asian market is important.

Asia Powers 60% of Global Crypto Liquidity

According to a joint study by Foresight Ventures and Primitive, the region accounts for 60% of global crypto liquidity. Five Asian nations are among the top 10 in the global crypto adoption index for 2024.

Singapore is ranked at the top, having processed nearly $1 billion in crypto transactions in the second quarter of 2024. The city-state has also issued 13 new crypto licenses this year, doubling its 2023 figures. Industry experts view Singapore’s clear regulatory framework as a model for other countries.

In addition to Singapore, countries like Indonesia and Vietnam have secured high positions in the global crypto adoption index, showing a surge in participation.

Marty Party’s analysis, along with TradingView’s visuals, shows how the market’s bullish sentiment aligns with Asia’s growing influence. Asia’s growth demonstrates the region’s adaptability and encourages other countries to participate, creating a more inclusive global crypto ecosystem.

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