Vietnam, Philippines, India, China Among Top Countries for Crypto Adoption, Chainalysis Global Index Shows – Featured Bitcoin News

Chainalysis, a blockchain analytics company has released its 2022 crypto adoption index. Vietnam, India and China make up the top five countries for crypto adoption. While the overall adoption slows worldwide in bear markets, it “remains above pre-bull market levels,” the firm said.

Chainalysis’ Latest Cryptocurrency Adoption Index

Chainalysis published an excerpt of its upcoming report titled “2022 Geography of Cryptocurrency” Wednesday. It highlights the company’s 2022 Global Crypto Adoption Index, which ranked all countries based on their usage of different types of cryptocurrency services, the blockchain data firm explained.

According to the index Vietnam is the most popular country on the planet. It’s followed by India, Pakistan, Brazil and Thailand.

These are the top 10 nations with highest levels of cryptocurrency adoption. Source: Chainalysis’ 2022 Global Crypto Adoption Index

Chainalysis detailed:

Globally, adoption is slower in the bear market but it remains higher than pre-bull markets.

Moreover, the blockchain analytics firm noted that “Emerging markets dominate the global crypto adoption index.”

The firm also explained that China has re-entered the top 10 positions in its global crypto adoption index after being 13th last year.

“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 firm said, elaborating:

Our data suggest that either the ban was ineffectively or not enforced at all.

What do you think about Chainalysis’ crypto adoption rankings? Comment below.

Kevin Helms

Kevin is a graduate of Austrian Economics. He discovered Bitcoin in 2011, and has been an advocate ever since. He is interested in Bitcoin security and open-source software, network effects, and the intersection of cryptography and economics.

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