Nearly 65 per cent of Vietnamese investors in the crypto currency market did not earn profits in 2023, while 43.6 per cent incurred losses, according to the Vietnam Crypto Market Report 2023 from Coin98 Insights.

The report was based on a survey conducted in December of 1,200 respondents.

It emphasized that the market remained gloomy for most of 2023 but the percentage of investors experiencing losses fell compared to 2022’s 57.5 per cent.

The report revealed that the majority of crypto investors in Vietnam are men, accounting for 85.3 per cent. Investors are also predominantly young, with ages ranging from 18 to 36.

The majority of individual investors are from major cities such as Ho Chi Minh City, accounting for 50-54 per cent, Hanoi 25-30 per cent, and central Da Nang city 3-5 per cent.

This year is expected to continuation of the pace of development seen at the end of 2023. However, the report also warns investors to pay attention to factors that can affect the economy and the crypto currency market, such as high interest rates from the US Fed, political tensions, food security, and environmental issues.