Blockchain analytics agency Chainalysis has revealed its 2022 cryptocurrency adoption index. Vietnam, the Philippines, India, and China are among the many international locations with the very best crypto adoption. Whereas the general adoption slows worldwide in bear markets, it “remains above pre-bull market levels,” the agency stated.

Chainalysis’ Newest Cryptoforeign money Adoption Index

Chainalysis revealed an excerpt of its upcoming report titled “2022 Geography of Cryptocurrency” Wednesday. It highlights the corporate’s 2022 Global Crypto Adoption Index, which ranked all international locations primarily based on their utilization of several types of cryptocurrency companies, the blockchain knowledge agency defined.

Based on the index, Vietnam tops the checklist total, adopted by the Philippines, Ukraine, India, the US, Pakistan, Brazil, Thailand, Russia, and China.

ChainalysisTop 10 international locations with the very best cryptocurrency adoption. Supply: Chainalysis’ 2022 Global Crypto Adoption Index

Chainalysis detailed:

Total adoption slows worldwide in bear market, however stays above pre-bull market ranges.

Furthermore, the blockchain analytics agency famous that “Emerging markets dominate the global crypto adoption index.”

As well as, the agency defined that China lastly reentered the highest 10 of its world cryptocurrency adoption index this 12 months after inserting thirteenth final 12 months.

“Our sub-indexes show that China is especially strong in usage of centralized services, placing second overall for purchasing power-adjusted transaction volume at both the overall and retail levels,” Chainalysis described.

“This is especially interesting given the Chinese government’s crackdown on cryptocurrency activity, which includes a ban on all cryptocurrency trading announced in September 2021,” the blockchain analytics agency stated, elaborating:

Our knowledge means that the ban has both been ineffective or loosely enforced.

What do you concentrate on Chainalysis’ crypto adoption rankings? Tell us within the feedback part under.

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Kevin Helms

A pupil of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source programs, community results and the intersection between economics and cryptography.

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