According to glassnode, retail-driven on-chain activity in the Asia-Pacific (APAC) region has been increasing significantly faster than in the US and EU. Since the cycle low in December 2022, APAC's year-over-year Bitcoin supply growth is at +6.4%, compared to declines of -5.7% in the US and -0.7% in the EU. This indicates a robust retail investment interest in APAC, which could impact trading volumes and liquidity in the region.