InvestorCrypto.net - CEO of Indodax, Oscar Darmawan, proudly announced that Indodax now commands a 33 percent market share of the total 19 million cryptocurrency investors in Indonesia.
This achievement solidifies Indodax's position as the dominant player in the crypto market industry in Indonesia.
"Our membership has now exceeded 6.3 million individuals. The remarkable increase in our membership numbers indicates that 33 percent of Indonesia's crypto investors have chosen Indodax as their trusted partner. This also signifies Indodax as the market leader in this industry," stated Oscar in an official statement in Jakarta on Thursday.
Oscar pointed out that the substantial number of crypto asset investors reflects the increasing popularity of cryptocurrencies as an investment instrument among the public.
Therefore, the number of crypto asset holders in Indonesia continues to grow. Moreover, the year 2024 is deemed as the "crypto year" due to the halving momentum.
"These momentum events drive the price of crypto assets, particularly Bitcoin, higher, attracting Indonesian citizens to fervently engage in crypto investments," he elaborated. Oscar also highlighted that the surge in Bitcoin prices this year led to a wave of Indodax members flocking to invest in Bitcoin.
"As of early 2024, the number of Bitcoin investors on Indodax has almost doubled compared to the previous year, with an increase of 92.76 percent," he revealed. Not limiting themselves to Bitcoin, Oscar mentioned that members have diversified into other coins such as Stablecoin (USDT), Ethereum (ETH), Pepe (PEPE), and Dogecoin (DOGE).
"By early 2024, USDT, BTC, ETH, PEPE, and DOGE are the top five most traded coins on Indodax. Interestingly, the top three coin rankings have remained unchanged since the end of 2023, still dominated by USDT, BTC, and ETH," he explained.
Observing the surge in demand for crypto assets in Indonesia, Oscar believes this indicates a maturing crypto market in the country.
Investors are increasingly grasping the importance of portfolio diversification, thereby reducing risks and seeking greater profit opportunities across various crypto assets.
This trend underscores the widespread adoption of blockchain technology and crypto assets as an alternative investment. Indodax hopes that the government will continue fostering a conducive environment for crypto assets, ensuring that investors in Indonesia feel secure and comfortable conducting transactions.
"This will also prevent investors from resorting to foreign crypto exchanges, which may result in financial outflows," he concluded.
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