Telegram, A Key To The Crypto Boom In Africa And Eastern Europe

A new study from Bitget Research reveals a significant correlation between the activity of Telegram groups and the growing crypto adoption, particularly in Africa and Eastern Europe. The analysis, covering the period from January 2023 to August 2024, highlights a major transformation in the financial landscape in these emerging regions.

Africa leads the crypto revolution on Telegram

The research branch of Bitget, a major crypto exchange platform, analyzed Telegram usage data in various regions around the world. The results are unequivocal: Africa dominates with a spectacular 189% growth in crypto groups on Telegram, driven by a particularly young population.

Indeed, over 56.5% of African users are under 25 years old, representing the highest concentration of young crypto users in the world.

This dynamic is notably explained by several structural factors: ongoing economic instability in certain regions, limited access to traditional banking services, and a young population particularly receptive to technological innovations. Nigeria and South Africa are emerging as continental leaders, with projections reaching 53.89 million users by 2025.

Eastern Europe, the second engine of crypto adoption

Eastern Europe is establishing itself as the second major growth hub, particularly in Russia and Ukraine. The age group 35-44 is overrepresented, massively using cryptos via Telegram.

This accelerated adoption is primarily explained by an unstable economic context and international sanctions, pushing users to seek alternatives to traditional financial systems.

In contrast, Western Europe is lagging significantly, mainly due to a more restrictive regulatory environment. Asia maintains a strong position, with 90% of crypto users aged 18 to 39, of which 30.5% are under 25, suggesting considerable growth potential.

The data from Bitget Research highlights a profound transformation of the global financial landscape, where emerging regions are becoming the main engines of crypto innovation.

This trend, driven by a young and tech-savvy population, predicts a mass adoption of cryptos in the coming years, particularly in Africa and Eastern Europe, thus redefining the contours of global finance.