The Commodity Futures Trading Supervisory Agency (Bappebti) of the Ministry of Trade (Kemendag) revealed that there was a decrease in crypto transactions in January 2023 compared to the monthly average in 2022. Head of the Market Development and Development Bureau, Tirta Karma Senjaya revealed that the total crypto transactions in January 2023 were only IDR 12 trillion. This number has decreased compared to the average monthly crypto transaction in 2022 which reached IDR 25 trillion. Tirta hopes that crypto transactions can increase again in February 2023. Meanwhile, the value of crypto transactions throughout 2022 was recorded at IDR 306.4 trillion. The figure decreased by 64.3 percent when compared to the previous year which was recorded at IDR 858.76 trillion.
We compare the last 2022, the movements are not much different. 2022 is the highest at the start, with an average monthly transaction of Rp. 25 trillion, said Tirta in Jakarta. He admitted that CoFTRA is still studying the causes of the decline in crypto transactions. Tirta suspects that one of the reasons for the decline in crypto transactions is the fall of LUNA and FTX. According to him, the fall of FTX, which is known to be the largest crypto market in the world, affected the level of public confidence to invest in crypto. As a result, current crypto investors tend to wait and see.
Indonesia is also starting to be careful, even though we convey this regulation to prevent things like the case in America (FTX) so that nothing happens in Indonesia. Exchangers in us are expected not to happen like in America, he said. Previously, the Commodity Futures Trading Regulatory Agency (Bappebti) revealed that the investment value of crypto assets would drop by 64.3 percent in 2022, even though the number of investors in this digital currency has grown to reach 17 million people. Bappebti believes that crypto asset investment growth will be positive in 2023 as investor confidence increases.
CoFTRA data shows that the value of crypto transactions throughout 2022 was recorded at IDR 306.4 trillion. The figure decreased by 64.3 percent when compared to the previous year which was recorded at IDR 858.76 trillion. Plt. Head of the Commodity Futures Trading Supervisory Agency (Bappebti) Didid Noordiatmoko said crypto asset enthusiasts were experiencing growth but the transaction value was getting smaller.
