In October 2008, a group of cryptography experts and enthusiasts received an email from a person called Satoshi Nakamoto, introducing an electronic cash system named Bitcoin.
Although the mailing list consisted of individuals with cryptographic knowledge, it took nearly two months for Nakamoto to convince one of Bitcoin’s very first adopters to start mining the cryptocurrency.
Fast forward to 2023, when there are now 420 million crypto users worldwide.
Although the pace of crypto adoption was previously hampered by stringent global regulations in past years, recent times have witnessed a surge in cryptocurrency adoption as crypto regulations are gradually easing across the globe.
This trend has not only boosted the adoption rates of established currencies like Ripple (XRP) and Cardano (ADA), but new projects like DogeMiyagi (MIYAGI) are also experiencing a warm reception among people.
Ripple – Making Inroads Into The Asian Market
XRP, the cryptocurrency associated with the cross-border payment network Ripple, currently holds the position as the 5th largest cryptocurrency in the market.
According to a recent survey conducted by Finder across 27 countries, 15% of cryptocurrency users own XRP tokens. While the US takes the lead with the most crypto investors, XRP notably enjoys substantial popularity in the Asian region. This can be attributed to the ongoing case brought forth by the US SEC against XRP, classifying it as a security.
This legal action initially impeded XRP’s adoption trajectory in the US. However, in a recent development, Ripple achieved a partial victory in this case. As a result, crypto exchanges within the US are once again relisting XRP on their platforms, a move expected to propel its adoption rate further.
It is vital to note that the lack of regulatory clarity within the US is compelling various crypto companies to divert their focus from its market. Just a couple of months ago, the SEC brought charges against Cardano, Polygon, Solana, and the crypto exchange Coinbase. The ongoing regulatory clampdown on the crypto industry by US regulatory authorities has created an environment that is less conducive for cryptocurrency operations.
Cardano – Leading The Cryptocurrency Adoption
The landscape of cryptocurrencies has undergone significant shifts in adoption rate since late 2020, with Cardano emerging as a front-runner in this transformative journey.
Despite its relatively recent launch just five years ago, Cardano’s native token ADA has rapidly risen to become the 8th largest token in the market. An article published in Banklesstimes.com highlights ADA’s remarkable trajectory, Showcasing a 40% surge in holdings during 2022. Impressively, statistics reveal that 76% of ADA holders acquired cryptocurrency within the last 12 months. It proves the robust pace of Cardano’s adoption.
While factors like the SEC’s charge against Cardano have the chance to influence its adoption rate within the US, the growing global interest in the crypto space has opened new avenues of opportunity.
Countries such as Germany, El Salvador, Switzerland, the United Arab Emirates, and Hong Kong have taken steps to ease crypto regulations, fostering an environment conducive to the flourishing industry.
Singapore has recently joined this list of crypto-friendly nations, granting a license to crypto exchange Blockchain.com.
This influx of new businesses is poised further to amplify the growth of established cryptocurrencies like Cardano.
DogeMiyagi – Gaining Sky-High Traction
As nations adjust their approach to crypto regulations, even new crypto projects like DogeMiyagi are witnessing significant interest from potential investors. Built on the Ethereum blockchain, DogeMiyagi has already reached the end of its fifth presale stage.
DogeMiyagi has skillfully integrated elements from the beloved Karate Kid movies, particularly the iconic character of Mr. Miyagi, into the essence of the coin’s crypto identity. By tapping into the widespread recognition and genuine fondness connected with the movies, this strategy adeptly captures the interest of potential users.
The foundation of DogeMiyagi’s ecosystem is its native token MIYAGI. The project team also plans to launch NFTs and crypto exchanges, demonstrating their wide-ranging engagement in the crypto industry.
To boost demand and adoption of the MIYAGI token, DogeMiyagi has introduced a referral scheme. Investors can invite friends and family to join the MIYAGI community and earn a 10% commission on their investment.
Conclusion
The growing awareness of blockchain and the ease of crypto regulations drive widespread adoption worldwide. The adoption rate of XRP and Cardano serves as a testament to this trend. In the meantime, the innovative project DogeMiyagi is gaining substantial traction due to its visionary approach and commitment to seamless services.
If you are new to the crypto market, consider starting with DogeMiyagi’s attractive presale offer.
DogeMiyagi:
Website: https://dogemiyagi.com
Twitter: https://twitter.com/_Dogemiyagi_
Telegram: https://t.me/dogemiyagi