Japanese Saw the strongest growth when digital access adoption rapidly accelerated over the ASIA-Stilla Sea (APAC) over the past three years, making it the “fastest growing region in the world in terms of the chain received on the chain,” in accordance with to a report published on September 24 by Blockchain Analytics chain.
“APAC showed strong growth in Cryptocurrency activity, with estimated transaction values on the chain that showed a clear up track,” read the report. “Monthly value received in the chain increased from approximately $ 81 billion in July 2022 to the top of $ 244 billion in December 2024, a triple increase for 30 months.”
In this context, the “on-chain value” refers to the total value of digital assets were transferred to addresses within a given country, region or group of users, which are registered directly on blockchain.
Based on this, chain analysis found that from July 2022 to June 2025, the most remarkable growth periods from the end of 2023 to the beginning of 2024, where the monthly value of the chain crossed $ 100 billion. Another Boom period was Q4 2024, which marked APAC’s highest growth as the global markets rise after US presidential election and Donald Trump’s victory.
The report also noted that although the volumes have since decreased from its top reception in December 2024, remaining on the chain remains relatively high over SEK 185 billion per month to mid -2025.
“As the fastest growing region in the world in terms of received chains, APAC has emerged as an important growth driver globally, often ranked number two to Europe in terms of volumes and sometimes surpassed North America in monthly total,” chain analysis said. “The data reflects APAC’s expanding influence on the global markets and its prolonged speed in the latter half of 2025.”
Japan tops the table
Among APAC’s five best markets – Japan, IndonesiaThe South KoreaThe Indiaand Vietnam—Japan saw the “strongest growth.”
According to the report, the country’s value increased 120%during the 12 months until June 2025 (relatively the previous 12 months), surpassed Indonesia (103%), South Korea (100%), India (99%) and Vietnam (55%).
“Japan’s market has been relatively subdued in recent years compared to its neighbors, and the latest growth comes in the midst of several political developments that will support market growth over time,” the report said.
Japan’s Prime Minister Fumio Kishida signaled this change in politics at Webx 2024 Events in Tokyo last September last year, when he told participants that blockchain and web3 can solve the country’s social issues and reign economic growth.
Since then, the country has introduced several measures that support the digital asset space including, re -classification of digital currencies as financial products; regulatory reforms in April to better account for the role of digital assets as investment instruments; Japan’s Top Finance Regulator, Financial Services Agency (FSA), Create a working group to investigate proposals related to taxation and classification of digital assets; and approval of the country’s first yen-denominated stablecoin, called jpyc.
Contrary to Japan’s latest acceleration of digital asset adoption, the report indicated that growth in India, South Korea and Indonesia during the same period reflects “continued expansion but from already high baselines.”
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