Chainalysis analysis displays some of the highest bitcoin adoption rates seen in the last two years. According to the research, the global crypto usage rate has increased by 2300 percent in the last 24 months. It is the most impressive number for the cryptocurrency market, indicating the cryptocurrency’s future. On a global scale, the market has grown by 881 percent in the last 12 months as well. The data was gathered from all across the world between Q3 2019 and the end of Q2 2021.
Cryptocurrency usage is increasing all across the world. There haven’t been many objective measures of how rates of adoption and usage patterns differ around the world, except from anecdotal evidence. That is why the Global Crypto Adoption Index was formed. Our purpose is to quantify the adoption variations amongst countries around the world.
The data was acquired using a system that allowed them to rank 154 countries based on three primary variables. The amount of on-chain crypto received, the on-chain retail value delivered, and peer-to-peer exchange trading volume are the three measures. Furthermore, the US and China have plummeted in the rankings as their P2P trading volume for the internet population has decreased, according to the data. It’s encouraging that more developing countries are interested in digital currency.
The government’s new restriction, which is a result of more people wanting to know less, could be the cause of the fall in China. South Asia, Central Asia, Africa, and Latin America, according to the research, transmit more online traffic to the P2P network than Europe and North America. It would be fantastic to witness the adoption of cryptos in the next 12 months, especially with breakthroughs like Defi.