Indonesia’s Crypto Market Is Consolidating Around Bitcoin, New Data Shows

Jakarta, January 10, 2025

While global crypto narratives in recent years have been dominated by rapid altcoin rotations and short-lived memecoin cycles, Bitcoin continues to be the most widely held crypto asset in Indonesia, underscoring a market shaped by risk awareness, liquidity preference, and long-term participation.

According to The 7th Edition of Indonesia Crypto & Web3 Report 2025 from Indonesia Crypto Network, 46.4% of Indonesian crypto users hold Bitcoin, making it the single most dominant asset by ownership share. USDT ranks as the second most held asset at 14.5%, followed by Solana (9.1%), Ethereum (6.9%), and BNB (6.1%).

Combined, the top five crypto assets account for more than 83% of all reported holdings, revealing a market that remains highly concentrated around large-cap assets and established blockchain ecosystems. Exposure to smaller or emerging tokens remains comparatively limited, reflecting a preference for assets with deeper liquidity, stronger infrastructure, and broader platform support.

The report’s findings suggest that Indonesia’s crypto market is not driven by short-term speculative churn, but by structured retail participation at scale. This is further supported by user behavior data showing that:

• 58.2% of users hold crypto as a long-term investment
• Only 20.2% primarily engage in short-term trading
• 93.6% of users access crypto through centralized exchanges
• 93% of Indonesians surveyed are already familiar with cryptocurrency

With more than 19 million active crypto users nationwide, Indonesia represents one of the world’s largest retail crypto markets, operating within a regulated environment and supported by a growing exchange ecosystem.

Rather than signaling resistance to new assets, the concentration toward Bitcoin and major ecosystems reflects a selective, filter-driven market dynamic. Assets that gain traction in Indonesia tend to do so through clear utility, ecosystem depth, and accessibility on trusted platforms, rather than through short-lived narratives or promotional momentum.

For crypto companies, Web3 builders, exchanges, and protocol teams, the data highlights Indonesia as a market where product relevance, education, and local platform integration are decisive factors for adoption. As the market matures under clearer regulatory oversight, competition increasingly centers on credibility and long-term engagement, not visibility alone.

The 7th Edition of the Indonesia Crypto & Web3 Report 2025 provides detailed asset ownership breakdowns, user behavior analysis, regional insights, and market structure data for companies assessing opportunities in Southeast Asia’s largest crypto market.

Read the full report at https://indonesiacrypto.network/reports.

About

The 7th Edition of the Indonesia Crypto & Web3 Report 2025, by Indonesia Crypto Network (ICN) and Coinvestasi, provides a data-driven view of Indonesia’s crypto and Web3 market, drawing on survey data, on-chain analysis, and regulatory review.

Now in its seventh consecutive edition, the report reflects ICN and Coinvestasi’s consistent leadership in tracking and shaping Indonesia’s crypto market narrative, and is widely used by global and regional stakeholders to assess market readiness and entry strategies.