Odaily News In most countries or regions, the pace of growth in crypto activity across the transaction size range varies widely. But according to a recent report by Chainalysis, the United Arab Emirates (UAE) is an exception, with growth trends across all sizes, indicating a “balanced and comprehensive adoption pattern” in the country. Chainalysis highlights that the UAE received more than $30 billion in crypto between July 2023 and June 2024, ranking in the top 40 countries globally. It adds that this growth is driven by a variety of factors, including regulatory innovation, institutional interest, and expanding market activity. Cryptocurrency received through small and large retail investor activity (transaction sizes below $1,000 and between $1,000 and $10,000, respectively) grew by more than 75% year-on-year. Meanwhile, the value received through institutional investor activity (transaction sizes between $1 million and $10 million) grew by more than 50% year-on-year. The UAE is the third-largest crypto economy in the Middle East and North Africa region. However, its crypto ecosystem is more diverse than other countries in the region, where crypto trading is mainly conducted through CEXs. The UAE has a higher rate of DeFi adoption than the global average, with a large portion of transactions taking place through DEXs. Globally, 27.8% of crypto transactions are conducted through DEXs, while in the UAE, that figure is 32.4%, the highest in the MENA region. The total value of crypto received through DeFi services in the UAE increased by 74% compared to last year, while the value of tokens received through DEXs increased by 87%, from around $6 billion to $11.3 billion. Crypto activity in the country has also escalated since the UAE began attracting blockchain and crypto companies. Many companies, including Chainalysis and Bybit, have set up headquarters in the UAE, while others, such as Crypto.com, have established regional bases in the country. (CryptoSlate)