In Chainalysis’s 2024 crypto adoption classification, India has emerged as the leading nation. In particular, seven of the top 20 countries are located in the Central and Southern Asia and Oceania (CSAO) region.
Chainalysis, a blockchain analysis company, has released its Global Crypto Adoption Index 2024, which establishes India as the top-ranked nation.
“The 2024 Global Cryptocurrency Adoption Index has arrived! Despite the fact that the top 10 countries have encompassed five continents, Central and Southern Asia and Oceania (CSAO) have dominated the list. Continue reading to discover the top 20 countries and to gain insight into global adoption trends.”
The report has determined that India has the most prevalent adoption of criptovalute in the globe, and the data analysis is both on-chain and off-chain.
Not only are seven of the top 20 countries located in the Central and South Asia and Oceania (CSAO) region. Indonesia, Vietnam, the Philippines, Pakistan, Thailand, and Cambodia are the other six countries in this region, in addition to India.
The United States is in fourth place, Nigeria is in second place, and Ukraine and Russia are in sixth and seventh place, respectively, in the aggregate ranking. Conversely, Brazil concludes the classification in the tenth position.
The global cryptocurrency adoption index’s methodology, which has evolved over time, was also a priority for Chainalysis.
The sub-index “DeFi” yielded a superior score for India, the country that ranked first. Conversely, Nigeria secured a superior rating in the “Centralized Services” sub-index.
In contrast, the United States has reported a very high score in the sub-index “Servizi Centralizzati Retail.” Chainalysis’s annual reports, which also relate to the current year, are well-known. The blockchain analysis company has reported data on crypto crime in 2024, in addition to crypto adoption.
In fact, the second mid-year update was recently published, and it contains significant revelations. Furthermore, wallets established this year have been the recipient of 43% of fraud transactions in 2024, with a significant number of these wallets being associated with Pig Butchering schemes.
One of the largest purses discovered this year is associated with KK Park from Myanmar, a well-known author of Pig Butchering hoaxes, for this amorous scam technique. The wallet has already amassed more than $100 million.
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