The Global Leader In Crypto Adoption Is...Ukraine?

Plus more radical growth for an unaudited DeFi fork

Happy Tuesday, Blockfolians

Ukraine | UNOPS

The Lede

Chainalysis has just published its “Global Cryptocurrency Adoption Index.” The index is part of a larger report on global crypto trends.

While most of the report isn’t surprising (for example. the US and China are driving the highest transaction volumes), the measure of the most active retail users of digital currencies is.

When you wait data such as on-chain value transfer, on-chain crypto deposits and p2p exchange trade volume by purchasing power parity and internet users, the Ukraine, Russia, and Venezuela come out on top.

Interestingly, the usage is highly variant in each of these places. While Ukraine and Russia are often using crypto to avoid banking regulations, Venezuela sees more activity around savings.

Overall, the data shows just how global the crypto industry is, even at this early stage in its development.

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