The Number Of Indonesian Crypto Investors Reached 17.67 Million And The Transaction Value Skyrocketed

Crypto trading illustration (photo: Unsplash)

JAKARTA - The latest data from the Commodity Futures Trading Supervisory Agency (CoFTRA) revealed that the number of crypto investors until July 2023 had reached 17.67 million.

When compared to the previous month, this number increased by 13,000 people, or an increase of 0.74 percent from June 2023 with 17.54 million people. Although the number of investors increases, the growth of domestic crypto investors tends to slow down.

According to the Head of CoFTRA, Didid Noordiatmoko, the dynamics of physical trading of crypto assets has been ups and downs since the last few years, because the world is still experiencing a crypto winter phase.

In response to this, Tokocrypto CEO Yudhono Rawis also said that the decline in the growth in the number of Indonesian crypto investors stemmed from the decline in the trend of global crypto trading.

"This slowdown is caused by several factors, including the decline in the value of crypto assets in recent periods. This is also in line with the pressures that the global crypto market is still feeling," Yudho said in a statement.

But not only that, Yudho juge said another factor that played a role was global economic uncertainty and high inflation rates in several countries, which made investors hesitant in determining decisions to enter or leave the market.

On the other hand, the value of crypto transactions in Indonesia in July 2023, was recorded at IDR 9.37 trillion, an increase of 4.5 percent compared to the previous month, which only reached IDR 8.97 trillion.

However, Yudho hopes that the growth in the number of crypto investors in Indonesia will improve in the future, especially after the government established crypto exchanges, clearing institutions, and storage or depository institutions.

"All of this aims to provide more comprehensive protection, certainty, and regulations when involved in crypto trading," he concluded.