The mass adoption of Bitcoin and crypto has probably been the most important goal that the crypto industry has set. There have been so many moves taking the industry on this important path, and they continue despite the world crisis in the middle of which we are.
There’s a new report from blockchain data platform Chainalysis, which indicates that crypto adoption is surging around the globe.
One particular country is leading the way, according to the same report.
Vietnam tops Global Crypto Adoption Index
As the online publication the Daily Hodl notes, Vietnam tops Chainalysis’ 2021 Global Crypto Adoption Index. There are strong numbers in the total crypto activity, on-chain retail value transferred, and peer-to-peer (P2P) exchange trade volume.
It’s also been revealed that the country has made more than one recent crypto list.
Earlier this month, Vietnam came in ranked second on Binance’s list of the top five countries regarding crypto adoption.
India, Pakistan, Ukraine, and Kenya are rounding out Chainalysis’s top five.
The platform weighted these rankings by purchasing power parity (PPP) in order to favor countries that have “an amount of crypto activity that is more significant based on the wealth of the average person and the value of money within the countries,” the Chainalysis report says.
The same notes continue and reveal the following:
“Several countries in emerging markets, including Kenya, Nigeria, Vietnam, and Venezuela rank high on our index in large part because they have huge transaction volumes on peer-to-peer (P2P) platforms when adjusted for PPP per capita and internet-using population.”
Chainalysis also notes:
“Our interviews with experts in these countries revealed that many residents use P2P cryptocurrency exchanges as their primary on-ramp into cryptocurrency, often because they don’t have access to centralized exchanges.”
The same platform continues and adds that the overall level of crypto adoption around the world is skyrocketing.
we suggest that you check out the complete data in the original report.