Chainalysis, a blockchain analytics company, has released its 2022 cryptocurrency adoption ranking. The countries with the highest adoption of crypto are India, China, Vietnam, and the Philippines. The firm stated that although global adoption slows in bear markets, it is still higher than pre-bull market levels.
Chainalysis's latest Cryptocurrency Adoption index
Chainalysis published Wednesday a portion of its report, "2022 Geography of Cryptocurrency". The report highlights Chainalysis's 2022 Global Crypto Adoption Index. This index ranks all countries according to their use of various types of cryptocurrency services.
The index places Vietnam at the top of the list, followed by India, Pakistan, Brazil and Thailand.
Globally, adoption is slower in bear markets but it remains higher than pre-bull market levels.
The blockchain analytics firm also noted that "Emerging Markets dominate the global Crypto Adoption Index."
The firm also explained that China has reentered the top ten of its global cryptocurrency adoption index after being 13th last year.
Chainalysis explained that "our sub-indices show China is particularly strong in the use of centralized services. They place second overall for purchasing power -adjusted transactions volume at both retail and overall levels."
"This is particularly interesting given the Chinese government’s crackdown against cryptocurrency activity, which includes an ban on all cryptocurrency trading, announced in September 2021," said the blockchain analytics firm.
Our data suggest that the ban was either ineffective or not enforced at all.
What do you think of Chainalysis' crypto adoption ranking? Comment below.
By: Kevin Helms
Title: Vietnam, Philippines, India, China Among Top Countries for Crypto Adoption, Chainalysis Global Index Shows
Sourced From: news.bitcoin.com/vietnam-philippines-india-china-among-top-countries-for-crypto-adoption-chainalysis-global-index-shows/
Published Date: Fri, 16 Sep 2022 00:30:00 +0000
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