|
Getting your Trinity Audio player ready...
|
- XRP has led Thailand’s investment rankings for nine straight months with 390% YoY gains.
- Cryptocurrencies now outperform gold and equities, capturing the top three asset spots.
- Retail adoption is rising despite strict payment restrictions and banking disruptions.
Stay ahead with real-time updates and insights—Join our Telegram channel!
XRP has cemented its position as Thailand’s hottest asset, topping the Thai SEC’s monthly market report for the ninth consecutive month. Despite a 9.41% pullback in August, XRP still boasts a staggering 390% year-over-year (YoY) gain. Its current price of $2.86 leaves it up 380% YoY, well ahead of competitors like Bitcoin and Ethereum.
Bitcoin remains a distant second with 85% growth, while Ethereum surged 17.21% in August, overtaking gold to secure third place. This performance underscores the growing strength of cryptocurrencies against traditional investments in Thailand.
Cryptocurrencies Outperform Traditional Assets
The Thai SEC’s report highlights a dramatic shift in investor behavior. For the first time, cryptocurrencies occupy the top three asset slots in the country. XRP’s dominance, coupled with Bitcoin’s and Ethereum’s resilience, shows that digital assets are consistently outpacing gold and equities.
The trend reflects rising retail interest. Active crypto addresses climbed 8.44% in August to 230,000, with retail traders making up 42% of total activity. Institutional players followed at 21%, with juristic entities and foreign investors rounding out the market share.
Growing Adoption Despite Policy Restrictions
Thailand continues to restrict the use of most cryptocurrencies for payments, with exceptions for stablecoins like Tether and limited Bitcoin use by tourists. Even so, trading activity grew 2% in August, hitting 299.4 billion baht ($8.2 billion).
Also Read: XRP Price Stagnates After SEC Settlement as Adoption Becomes Key Driver
The appeal of crypto has also been amplified by the recent banking crackdown that left 3 million locals without access to accounts. With traditional systems under pressure, blockchain-based alternatives are becoming a practical solution for everyday Thais.
XRP Leads a Market in Transition
XRP’s sustained momentum underscores Thailand’s shifting investment priorities. With digital assets outperforming nearly every traditional option, Thailand is quickly becoming a hotspot for crypto adoption. As more investors turn away from banks and toward blockchain, the trend suggests that XRP’s lead may be more than a temporary surge—it could mark the beginning of a longer-term transition.
Stay ahead with real-time updates and insights—Join our Telegram channel!
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
