Crypto accelerator and the DAO community published an article on their social networks dedicated to the analysis of the chain for the first half of 2024. Reports have shown that there has been an increase in the number of cryptocurrency-based startups in Asia and Africa. These regions have also seen regulatory improvements and new launches in the crypto sector in recent months.

According to the report, Europe has surpassed the United States to become the leading region for the number of startups. The central continent now accounts for 31.4% of the total number of cryptocurrency startups. Meanwhile, the US currently has 29%. On the other hand, Asia has witnessed tremendous growth and is the third largest region with 26.8% of startups. Africa has shown growth, reaching 5.2% this year.

Notably, the US was the leading region in 2021, with almost half of startups based in the US. However, over the past few years, other countries have also shown emerging cryptocurrency markets - the report's authors believe the decline in numbers is due to regulatory uncertainty in the US.

In addition, eastern countries attract entrepreneurs due to emerging markets in their regions. Moreover, Latin America is currently home to 5.8% of the world's crypto startups.

In the first half of 2024, startups creating DeFi, payments, AI x crypto and infra saw growth. Most of these companies use NFTs as expenses. Notably, from an L1s perspective, Ethereum ensures its dominance in the crypto space. Meanwhile, Solana has seen a surge in activity indicating a comeback.

Several regions that showed growth saw new advances in the sector. For example, Hong Kong recently made an announcement to license certain crypto exchanges to provide services.