Chainalysis: Driven by institutions and DeFi, cryptocurrency adoption in Eastern Europe is rising

Odaily News According to Chainalysis’ report, despite the war and regulatory issues, cryptocurrency adoption across Eastern Europe has been growing steadily, driven by institutional and DeFi activity. As the world’s fourth-largest cryptocurrency market, Eastern Europe had an “on-chain value of $499.14 billion between July 2023 and June 2024, accounting for 11% of the total global cryptocurrency share.” Chainalysis further noted that CEX is the region that receives the most cryptocurrency, “close to $324 billion, and DeFi activity has grown significantly over the past year, with cryptocurrency valued at $165.46 billion, accounting for a third of the region’s inflows.” The report also mentioned that in this year’s Global Crypto Adoption Index, regional players Ukraine and Russia were ranked “6th and 7th, respectively, with Russia moving up 6 places from last year’s ranking.” (Crowdfund Insider)