DeFi

Bitcoin

<h4><strong>Indonesia has emerged as the fastest-growing crypto market, experiencing a remarkable surge in adoption and activity.</strong></h4> 
<p>India maintains its top position in the global crypto adoption rankings, reflecting its strong and stable embrace of digital currencies.</p> 
<h5><strong>Chainalysis Report: India and Nigeria Top Crypto Adoption Rankings</strong></h5> 
<p>Nigeria follows closely behind, holding its second-place spot as the country with substantial grassroots engagement in cryptocurrencies. This consistency underscores the ongoing enthusiasm for crypto in these nations, where digital assets have become an integral part of the financial landscape.</p> 
<p><img decoding="async" class="wp-image-150493 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxfdgfgdfhtyt-300x195.jpg" alt="" width="699" height="454" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxfdgfgdfhtyt-300x195.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxfdgfgdfhtyt-646x420.jpg 646w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxfdgfgdfhtyt-696x453.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxfdgfgdfhtyt.jpg 729w" sizes="(max-width: 699px) 100vw, 699px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://www.chainalysis.com/blog/central-southern-asia-crypto-adoption-2024/" target="_blank" rel="noopener">Chainalysis</a></strong></h6> 
<p>Indonesia, however, has made significant strides over the past year, leaping four places to secure the third spot globally. The country is now the fastest-growing crypto market, with a staggering year-over-year growth rate of nearly 200% in the Central and Southern Asia (CSAO) region.</p> 
<p>The <a href="https://www.chainalysis.com/blog/central-southern-asia-crypto-adoption-2024/" target="_blank" rel="noopener">report</a> highlights that Indonesia also received the highest cryptocurrency value in the region, amounting to approximately $157.1 billion.</p> 
<p><img decoding="async" class="wp-image-150496 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxfgdgfhfth-300x183.jpg" alt="" width="648" height="395" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxfgdgfhfth-300x183.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxfgdgfhfth-690x420.jpg 690w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxfgdgfhfth-696x424.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxfgdgfhfth.jpg 752w" sizes="(max-width: 648px) 100vw, 648px"></p> 
<p>The <a href="https://www.chainalysis.com/blog/central-southern-asia-crypto-adoption-2024/" target="_blank" rel="noopener">Chainalysis report</a>, which is now in its fifth year, analyzed data from 151 countries between Q3-2021 and Q2-2024. This year’s report incorporated a slight methodological shift, excluding P2P cryptocurrency exchange trade volumes and including DeFi activity. This change aims to provide a more accurate picture of the evolving crypto landscape.</p> 
<p>In the CSAO region, seven of the top 20 countries are from this area, indicating robust growth and increasing adoption. Despite these advancements, the report notes that Indonesia’s crypto market growth is not driven by regulatory changes but by trading opportunities and alternative investment avenues, such as meme coins.</p> 
<p><img decoding="async" class="wp-image-150497 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vxdssrettryytuuyiiu-300x194.png" alt="" width="642" height="415" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vxdssrettryytuuyiiu-300x194.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vxdssrettryytuuyiiu-650x420.png 650w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vxdssrettryytuuyiiu-696x450.png 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vxdssrettryytuuyiiu.png 730w" sizes="(max-width: 642px) 100vw, 642px"></p> 
<p>The country’s crypto activity also shows a higher engagement with <a href="https://www.altcoinbuzz.io/?s=decentralized+exchanges" target="_blank" rel="noopener">decentralized exchanges (DEXs)</a> and decentralized finance (DeFi) compared to other regional and global averages.</p> 
<p>The U.S. maintained its fourth position from 2023, while Vietnam experienced a decline, falling from third to fifth. This shift highlights the dynamic nature of global crypto adoption and the impact of emerging markets.</p> 
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<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/chainalysis-report-india-and-nigeria-dominate-crypto-adoption/">Chainalysis Report: India and Nigeria Dominate Crypto Adoption</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

Chainalysis Report: India and Nigeria Dominate Crypto Adoption

Altcoin Buzz

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