Crypto Transactions in Indonesia Surpass IDR 556 Trillion by the End of 2024

DIGIVESTASI - The value of cryptocurrency transactions in Indonesia has seen a significant surge through the end of 2024, driven by an increasing number of investors in the sector. According to data released by the Commodity Futures Trading Regulatory Agency (Bappebti), crypto transactions from January to November 2024 reached IDR 556.53 trillion. This figure represents a 356.16% increase compared to the same period in the previous year, which totaled IDR 122 trillion.

“This data proves that crypto asset trading has become an increasingly popular investment choice among the public,” said Acting Head of Bappebti, Tommy Andana, in a statement on Friday (December 27, 2024).

Growth in the Number of Investors

Tommy also reported that as of November 2024, the number of cryptocurrency users in Indonesia reached 22.1 million. Of this total, approximately 1.3 million users were actively transacting through Prospective Physical Crypto Asset Traders (CPFAK) and Physical Crypto Asset Traders (PFAK).

The cryptocurrencies with the highest transaction values in November 2024 included Tether (USDT), Bitcoin (BTC), Dogecoin (DOGE), Pepe (PEPE), and XRP (XRP).

The Potential of the Crypto Market in Indonesia

Tommy noted that the increasing number of users indicates the vast potential of the crypto asset market in Indonesia. “In the coming years, Indonesia is predicted to become one of the leading crypto markets globally,” he added.

The surge in transaction value and the growing number of investors solidify Indonesia’s position as one of the most dynamic countries in the crypto sector across the Asian region.