Chainalysis analysts ranked countries by level of cryptocurrency penetration

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Experts from the analytical company Chainalysis shared research results according to which the countries of Central and South Asia are leading in terms of the level of adoption of digital assets.

Analysts compiled a rating of 154 countries based on data on which part of citizens invests the largest share of savings in crypto-assets. The list of assessed indicators included:

the cost of cryptocurrencies and the volume of retail trading on centralized exchanges (CEX);

volume indicators of cryptocurrencies hosted by decentralized finance (DeFi) protocols;

volume of trade on peer-to-peer (P2P) platforms, weighted by purchasing power parity per capita.

India topped the list, also in the top threeNigeria and Vietnam entered. The top 20 included, in descending order: USA, Ukraine, Philippines, Indonesia, Pakistan, Brazil, Thailand, China, Turkey, Russia, UK, Argentina, Mexico, Bangladesh, Japan, Canada and Morocco.

Company representatives noted that globalThe index of mass adoption of cryptocurrencies is still very far from the historical highs of 2021 and is showing a downward trend. Most of the countries that took leading positions in the ranking are classified by the World Bank as countries with per capita income below average.

Previously, experts from the CoinMarketCap portal published
a report on the digital asset market reaching a capitalization of $1.17 trillion and on the trends demonstrated by the industry in the first half of 2023.