According to a new report by Chainalysis, the US has climbed to second place in global cryptocurrency adoption, increasing activity levels in the sector due to growing interest in ETFs and an improved regulatory environment.
US Rises to Second Place
According to the latest Chainalysis report, the US has moved up from fourth to second place in global cryptocurrency adoption. This is largely due to the increasing use of spot Bitcoin ETFs and a clearer regulatory framework that has legitimized cryptocurrencies within traditional finance. Data from Farside Investors shows that US spot Bitcoin ETFs have attracted over $54.5 billion in inflows since January 2024.
India Maintains Leadership in Crypto Adoption
India has retained its top position for the third consecutive year, leading all four sub-indices that make up the Chainalysis ranking. Its position is bolstered by a large tech-savvy population and significant remittance flows, propelling the Asia-Pacific region to become the fastest-growing in global adoption, with a year-on-year increase of 69%.
Regional Adoption Trends
The Chainalysis report also highlights strong growth in Latin America, where Brazil and Argentina entered the global top 20. Per capita, Eastern Europe stands out, with Ukraine, Moldova, and Georgia leading adoption amid economic instability.
The US continues to gain traction in the cryptocurrency space due to the rise of ETFs, while India remains a leader for over three years. Each of these achievements underlines the growing interest and market developments in various regions, as the increased adoption of cryptocurrencies continues to impact the global financial system.
