A recent study by Bitget Research, the research arm of leading cryptocurrency exchange and Web3 platform Bitget, shows how much Telegram contributes to the spread of cryptocurrencies as a communication platform. The analysis particularly highlights Africa and Eastern Europe as key regions for the growth of new crypto users and highlights the crucial role of Telegram groups in promoting crypto adoption.
The study highlights that Telegram data is not only an indicator of activity in the crypto community but also helps understand behavioral patterns and identify emerging trends in economically and technologically dynamic regions. This makes Telegram an indispensable tool for analyzing global crypto markets.
Why Africa and Eastern Europe are leading
Africa:
Africa is leading the growth, having seen an impressive 189% increase in crypto-related Telegram usage over the past 20 months . This increase reflects the influence of a young, tech-savvy population, with over 56.5% of them under the age of 25. Countries like Nigeria and South Africa are showing particularly high levels of cryptocurrency adoption, fueled by a combination of economic instability, inadequate access to traditional banking services, and rapidly growing digital infrastructure.
Telegram is not only used for exchanging information, but also serves as a platform to discuss and spread decentralized finance (DeFi) projects. Telegram's interactivity makes it possible to quickly adapt new technologies and share innovative solutions that are specifically relevant to the region.
Eastern Europe:
In Eastern Europe, cryptocurrency is increasingly being used as a means of overcoming economic challenges. In countries such as Russia and Ukraine in particular, crypto is being used to circumvent sanctions and cushion the volatility of local currencies. Telegram acts as a central platform for connecting like-minded people and exchanging information.
An interesting dynamic is also evident in the age distribution: users between 35 and 44 years old make up one of the most active groups in Eastern Europe, both in terms of Telegram usage and in the adoption of cryptocurrencies. This generation often uses crypto as an alternative investment opportunity in economically uncertain times.
Demographic Insights
Bitget Research’s study examined the key demographics diving into the crypto world:
- Generation Z (18-24 years): 17.8% of crypto users, often known as “digital natives.” They dominate social media usage and are particularly active on Telegram.
- Millennials (25-34 years): With a share of 29.4%, the largest group of Telegram users and also the driving force behind crypto adoption.
- Generation X (35-44 years): Represents 28.6% of crypto users and is an important target group for the further spread of cryptocurrencies.
- Baby boomers and older generations: Have a comparatively low presence, but this could gradually change with the increasing popularity of user-friendly crypto solutions.
Telegram as a growth indicator
Bitget Research's report also sheds light on the global distribution of crypto adoption. While Africa has the highest growth rate, Asia also shows strong potential, especially among users aged 18-39, who make up 90% of crypto investors. Eastern Europe lags behind Africa in terms of Telegram growth, but overtakes Western Europe, where regulatory restrictions are hampering growth.
future outlook
Bitget Research predicts that the number of crypto users in Africa will reach 53.89 million by 2025. This growth is driven by a combination of technological advancements, economic needs and an open-minded population. The study highlights that the innovative power of young people plays a crucial role in crypto adoption, especially in regions where traditional financial systems are inadequate.