TechFlow news, on April 22, the Bitget Research Institute released a market analysis report on the Middle East, comprehensively analyzing the region's current status from dimensions such as overall market conditions, characteristics of cryptocurrency users, competitive landscape, and advantages of various platforms. The Middle East is an emerging market for cryptocurrencies, with around 500,000 people participating in daily trading at present. Among them, the UAE has the highest cryptocurrency adoption rate in the Middle East. Users in the UAE show strong preferences for investing in BTC and ETH, with BTC being referred to as "digital gold" by UAE users, and 72% of users having invested in BTC.
In terms of overall market conditions, the scale and acceptance of cryptocurrencies in the Middle East are experiencing rapid growth. Regarding the regulatory environment, the UAE maintains the most crypto-friendly policies, while most other Middle Eastern countries are gradually improving their regulations—shifting from initial outright bans toward increasing compliance.
The adoption rate of various blockchain-based applications among Middle Eastern users has significantly increased. Terms like "airdrops" and "on-chain mining" may become trending topics on social media, and interest in the DePIN sector continues to grow. In terms of centralized exchange (CEX) preferences, traffic for CEX platforms in the Middle East has shown a fluctuating upward trend over the past year. Demand for centralized exchanges among Middle Eastern users is clearly higher than for decentralized exchanges (DEX). Additionally, the most commonly used wallets include Trust Wallet, MetaMask, Phantom, Coinbase Wallet, and Bitget Wallet.
