Vietnam leads global crypto adoption, US comes fifth | The Financial Express

Vietnam leads global crypto adoption, US comes fifth

According to the survey, emerging nations continued to dominate the adoption index this year as they did the year before.

Vietnam leads global crypto adoption, US comes fifth
In the top 10, the only nation with a high income is the United States.

Chainalysis published a research on Global Cryptocurrency Adoption for 2022 on September 14. According to the report, Vietnam has the highest adoption of cryptocurrencies, with the Philippines and Ukraine coming in second and third, respectively, and the United States coming in fifth, as reported by Cryptoslate.

According to the survey, emerging nations continued to dominate the adoption index this year as they did the year before. Vietnam, the Philippines, Ukraine, India, and Pakistan are classified as lower-middle-income nations by the World Bank. On the other side, upper-middle-income countries include China, Brazil, Thailand, Russia, and Thailand.

In the top 10, the only nation with a high income is the United States. Vietnam topped the leaderboard for adoption of cryptocurrencies for the second year in a row this year. In 2020, the United States was rated sixth, then eighth, then fifth. The United States continues to occupy the middle position and stands out as the only high-income nation with such high adoption, although recording a little decline in ranking from 2020 to 2021, Cryptoslate noted.

China managed to climb to the top 10 this year after finishing 13th the previous year. According to the survey, China is particularly good in centralised services, which increased adoption.

The report’s adoption rate was another noteworthy aspect. The bear market has generally slowed the adoption of cryptocurrencies, but it has managed to stay above pre-bull market levels.

(With insights from Cryptoslate)

Also Read: MicroStrategy’s Michael Saylor on why Bitcoin is better for transfer of value

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