Kalam Crypto #163: UAE Investors Lead Crypto Adoption

"Volatility is a gift to the faithful." — Michael Saylor

Ahlan wa sahlan! Welcome to the latest edition of Kalam Crypto, your trusted source for crisp, insightful updates on everything crypto globally and the MENA region. 

This week, the crypto world saw a mix of recovery and major corporate activity. Ethereum leads in developer growth, SpaceX moved hundreds of millions in Bitcoin, and investors in the UAE lead the crypto adoption worldwide.

All that and more, so let’s dive in!

Global News 🌍

Institutional Bitcoin Holdings Hit Record High Public companies now hold over 1.02M BTC (~5% of total supply), a 20.8% increase in Q3 alone. With $117B in total value and 176,762 BTC added last quarter, institutional accumulation shows no signs of slowing.

Ghana to Regulate Crypto by Year-End Ghana’s central bank is advancing a crypto bill to parliament, aiming to finalize regulations by December. Over 3 million Ghanaians (roughly 9% of the population) already use digital assets. A dedicated department and digital sandbox are being developed to monitor and support crypto activity.

SpaceX Sparks Bitcoin Buzz with $257M Wallet Movement SpaceX moved $257M in Bitcoin across two wallets, its second major transfer in three months. Funds haven’t been sold, but the move signals renewed corporate activity, following a $153M transfer in July.

Ethereum Outpaces Solana and Bitcoin in Developer Growth Ethereum remains the leading ecosystem for new developers in 2025, with over 16,000 new developers joining between January and September, bringing its total active developer base to about 31,869. Solana ranks second with 17,708 developers, and Bitcoin ranks third with 11,036. While Ethereum leads in size, Solana’s developer growth has been faster, rising 29% in the past year. Data disputes exist, but the trend highlights an increasingly competitive developer landscape shaping the future of all major blockchains.

🇦🇪 Local News

UAE Investors Lead in Crypto Adoption 🇦🇪

Avaloq’s 2025 report shows 39% of UAE investors hold crypto and digital assets, compared to 30% globally. 93% of UAE investors also use crypto exchanges, outpacing the 86% global average. Among those not yet invested, 51% said they would consider crypto if offered by their traditional provider, yet only 30% of UAE wealth managers currently feel equipped to advise clients on digital assets, highlighting a major opportunity for innovation in the sector.

The data reinforces what we’re already seeing; growing investor confidence and a clear demand for regulated, user-friendly platforms that bridge traditional finance and the digital asset world.

Keep an eye on 👀

95% of Corporate ETH Purchases Happened in Q3 Between July and September, public companies accumulated over 4 million ETH, representing 95% of all ETH held by corporates and roughly 4% of the total ETH supply. Institutions appear to be positioning for Ethereum’s next growth phase, with Q3 potentially marking the quiet start of the next Ether supercycle.

CoinMENA News 🗞️

🚀 4 New Digital Asset Listings! BONK, JUP, W & RENDER are now live! Diversify your portfolio, trade seamlessly, and explore the newest additions on CoinMENA, all using your local currency.

Post Of The Week 🐥

HODL Remains the Winning Strategy

Bitcoin holders continue to prove patience pays. Most BTC has remained untouched for over a year, and history shows strong HODL behavior often precedes major rallies.

Quiz Corner ✅ 

Last week’s question:  What is often referred to as "digital gold"?

The correct answer is: B) Bitcoin

This week’s question is: What percentage of the total ETH supply is held by public companies in Q3 2025?

A) 1%

B) 2%

C) 4%

D) 5% See the answer in next week’s newsletter. Or check out our learning platform https://university.coinmena.com/